Item - 2015.EX4.8

The Executive Committee recommends that:

1.  City Council exempt from taxation for municipal and school purposes, Toronto Community Housing Corporation, for the non-profit development at the location contained in Confidential Attachment 1 to the report (February 19, 2015) from the Director, Affordable Housing Office, for 15 years.

2.  City Council authorize the Director, Affordable Housing Office, on behalf of the City, to enter into a municipal capital facility agreement with Toronto Community Housing Corporation, on terms and conditions acceptable to the City Solicitor, to secure the ongoing affordability of the units being exempted from taxation.

3.  City Council authorize the Director, Affordable Housing Office, on behalf of the City to negotiate and enter into any amendments to or discharges or postponements of the municipal capital facility agreement, the City's security and any other documents or agreements required to enact this tax exemption on terms and conditions satisfactory to the Director, Affordable Housing Office, and in a form approved by the City Solicitor.
 
4.  City Council cancel or refund any taxes paid from the by-law exempting the property from taxation.

5.  City Council direct that Confidential Attachment 1 to the report (February 19, 2015) from the Director, Affordable Housing Office be made public at the discretion of the City Solicitor as it pertains to the security of the property of the municipality or local board.

6.  City Council authorize and direct the appropriate City officials to take the necessary action to give effect thereto.

This report recommends that City Council approve a 15-year property tax exemption for a Toronto Community Housing Corporation (TCHC) property to be renovated into transitional housing for young women who are victims of sexual exploitation and human trafficking, (the "Transitional Home").

Recognizing the need to protect the safety and security of residents, the property's location is contained in the Confidential Attachment.

At its June 10, 11, 12 and 13, 2014 meeting, Council approved financial assistance of up to $0.850 million to Toronto Community Housing Corporation for capital repairs to the property. Renovations are expected to start in early 2015 with occupancy of the eight units in late 2015 or early 2016.

A property tax exemption is consistent with City policy. Toronto Community Housing Corporation will be leasing the property to a charitable service agency at a nominal cost. The agency will manage the property and provide support services to assist young women in recovering from their trauma and to move on to more independent housing. These are particularly vulnerable individuals whose housing and social service needs are not being met in Toronto.