Item - 2020.MM22.48

City Council on June 29 and 30, 2020, adopted the following:

1.  City Council authorize the Executive Director, Housing Secretariat to provide $6,000,000 in funding, inclusive of HST and disbursements, from the Capital Revolving Reserve Fund (XR1058) to Toronto Community Housing Corporation for repair and renovation of affordable housing at 502-508 Parliament Street in Ward 13, fully funded from the following developments:
 

a.  355 Church Street, secured for the procurement, design and construction of new affordable housing in the area of the lot, in the amount of $551,014.92 (Source Account: XR3026- 3700686);

 
b.  40 Wellesley Street East, secured for Toronto Community Housing capital improvements or the creation of new affordable housing, in the amount of $494,256.60 (Source Account: XR3026-3700719);

 
c.  70 and 72 Carlton Street, secured for the purpose of maintaining and constructing affordable rental housing units, in the amount of $518,231.81 (Source Account: XR3026-3700739);

 
d.  159 Wellesley Street East, secured for capital improvements to Toronto Community Housing Corporation properties, in the amount of $115,685.46 (Source Account: XR3026-3700946);

 
e.  197, 197R and 201 Yonge Street and 15 Shuter Street, secured for capital improvements to Toronto Community Housing Corporation properties, in the amount of $267,804.22 (Source Account: XR3026-3700750);

 
f.  387 - 403 Bloor Street East and 28 Selby Street, secured for the capital improvement of existing or the creation of new affordable housing, in the amount of $238,334.39 (Source Account: XR3026-3700895);

 
g.  75, 77 and 83 Mutual Street, secured for capital improvements to properties owned by the Toronto Community Housing Corporation and/or the City's Capital Revolving Fund for Affordable Housing for the purpose of constructing new affordable rental housing units, in the amount of $153,876.12 (Source Account: XR3026-3700876);

 
h.  219 and 231 Dundas Street East, secured for rental housing with mid-range or affordable rents and/or land for affordable housing and/or affordable ownership housing, in the amount of $520,172.91 (Source Account: XR3026-3701029);

 
i.  411 Church Street, secured for local Toronto Community Housing capital improvements, in the amount of $102,892.40 (Source Account: XR3026-3700831);

 
j.  480, 482, 484, 486, 488, 490, 492 and 494 Yonge Street and 3 Grosvenor Street, secured for capital improvements for new or existing Toronto Community Housing and/or affordable housing, in the amount of $1,036,262.19 (Source Account: XR3026-3700910);

 
k.  60 Shuter Street, 187 and 189 Church Street, secured for new or existing Toronto Community Housing and/or affordable housing, in the amount of $209,335.60 (Source Account: XR3026-3700963); and

 
l.  215-229 Church Street and 117 Dundas Street East, secured for a range of purposes including affordable housing, in the amount of $1,792,133.38 (Source Account: XR3026-3700931).
 

2.  City Council increase the 2020 Operating Budget for Shelter, Support and Housing Administration, by $6,000,000 gross, $0 net, in coordination with the Executive Director, Housing Secretariat, for affordable housing at 502-508 Parliament Street funded from the Capital Revolving Reserve Fund for Affordable Housing (XR1058) subject to the following conditions:

a.  the transfer of the designated funds from XR3026 to XR1058; and

b.  Toronto Community Housing Corporation signing an Undertaking which governs the use of the funds and the financial reporting requirements.