Item - 2017.EX24.15
Tracking Status
- City Council adopted this item on April 26, 2017 without amendments and without debate.
- This item was considered by the Executive Committee on April 19, 2017 and adopted without amendment. It will be considered by City Council on April 26, 2017.
- See also AH6.6
- See also By-laws 432-2017, 433-2017
EX24.15 - Providing Property Tax Exemptions for New Affordable Rental Homes at 257 Dundas Street East
- Decision Type:
- ACTION
- Status:
- Adopted on Consent
- Ward:
- 27 - Toronto Centre-Rosedale
City Council Decision
City Council on April 26, 27 and 28, 2017, adopted the following:
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.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2017/ex/bgrd/backgroundfile-102285.pdf
(March 8, 2017) Report from the Director, Affordable Housing Office on Providing Property Tax Exemptions for New Affordable Rental Homes at 257 Dundas Street East
https://www.toronto.ca/legdocs/mmis/2017/ex/bgrd/backgroundfile-102282.pdf
EX24.15 - Providing Property Tax Exemptions for New Affordable Rental Homes at 257 Dundas Street East
- Decision Type:
- ACTION
- Status:
- Adopted
- Ward:
- 27 - Toronto Centre-Rosedale
Committee Recommendations
The Executive Committee recommends 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.
Origin
Summary
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.
Background Information
https://www.toronto.ca/legdocs/mmis/2017/ex/bgrd/backgroundfile-102285.pdf
(March 8, 2017) Report from the Director, Affordable Housing Office on Providing Property Tax Exemptions for New Affordable Rental Homes at 257 Dundas Street East
https://www.toronto.ca/legdocs/mmis/2017/ex/bgrd/backgroundfile-102282.pdf