Item - 2016.AH5.10

The Affordable Housing Committee recommends that:

1.  In the event that a Council decision on new enhanced federal/provincial "Investment in Affordable Housing Program" is required prior to the October 5,  6 and 7 Council meeting, that Executive Committee request the Acting General Manager, Shelter, Support and Housing Administration, and the Director, Affordable Housing Office, to report directly to the July 12, 13 and 14, 2016 meeting of City Council with an update on the new programs and any authorities required for the City to participate in the delivery of program for the period 2016/17 and 2017/18.

As you are aware the recent federal and provincial budgets contained new and enhanced funding for affordable and supportive housing initiatives.

Key housing announcements in the federal budget included $1.4 billion over the next two years, 2016-17 and 2017-18, for capital repair and new construction through:

·  Doubling investments in the current Investment in Affordable Housing (IAH) initiative ($504 million over two years). Funding needs to be matched by the provinces and territories;

·  Increasing affordable housing for seniors ($200.7 million over two years) to support construction, repair and adaptation of housing for seniors. Funding does not need to be matched by the provinces and territories; and

·  Providing $573.9 million over two years to help address energy and water efficiency retrofits of existing social housing units. This program is a directly funded federal program.

On June 28th the federal/provincial/territorial ministers responsible for housing will meet in Victoria, British Columbia to discuss next steps in activating these new investments.
 

It is anticipated that the Ontario government will participate in the federal initiative by providing additional funding through the Investment in Affordable Housing Program (IAH).

As a result, by late June or early July it is expected that the City will be informed by the province of its IAH allocation to support new housing allowances, new rental construction, home renovations and home ownership loans. It is also anticipated that the province will require Municipal Service Managers to sign an administrative agreement and provide a plan for the investment of funding by September 1st.

With the next Council meeting on October 5, 6 and 7, and because of the funding's importance to Toronto, it is critical that City officials be authorized to enter into the administrative agreement and provide an investment plan, consistent with the priorities of the Housing Opportunities Toronto 10-year Housing Action Plan.