Item - 2017.AH6.6

The Affordable Housing Committee recommends to the Executive Committee that:

1. City Council exempt the 33 new affordable housing units being created at 257 Dundas Street East from taxation for municipal and school purposes for the term of the lease with Toronto Community Housing Corporation.
 

2. City Council authorize the Director, Housing Stability Services, Shelter, Support and Housing Administration to execute consents as required to allow encumbrances on title to the property at 257 Dundas Street East, and transfer of the property at 257 Dundas Street East, from time to time.
 

3. City Council authorize City staff to cancel or refund any taxes paid from the by-law exempting the property from taxation.

Consistent with City policy, this report recommends that City Council exempt 33 new affordable rental homes being created by Egale Canada Human Rights Trust ("Egale") at 257 Dundas Street East in Ward 27 – Toronto Centre-Rosedale from property taxes for 49 years.

Egale has leased the property from Toronto Community Housing for 49 years and has developed comprehensive programs for homeless LGBTQ2S youth. The program will provide wraparound supports including transitional housing, crisis counselling, employment assistance and other services.  The exemption will allow for more affordable rents for lower-income households.