Item - 2020.PH15.9

The Planning and Housing Committee recommends that:

1. City Council acting as Service Manager under the Housing Services Act, 2011, pursuant to subsection 161 (2), provide consent for the transfer by Toronto Community Housing Corporation of legal title to Block 1 on Plan 66M-2529 (the "Market Block") to Daniels Regent Development Corporation subject to the following conditions:

a. Toronto Community Housing Corporation shall reimburse the Service Manager for all provincial housing costs attributable to the Market Block that the Service Manager shall be responsible for pursuant to the Housing Services Act;

b. Toronto Community Housing Corporation shall have advised the General Manager, Shelter, Support and Housing Administration, of the proposed closing date and undertakes to advise the General Manager, Shelter, Support and Housing Administration, of any extension of the closing date or dates for such sale;

c. Toronto Community Housing Corporation shall provide the General Manager, Shelter, Support and Housing Administration, with details of the transfers to Daniels Regent Development Corporation within ten (10) days of closing, including copies of all registered transfers and the relevant parcel registers, so that the General Manager, Shelter, Support and Housing Administration, may apply to the Province to advise Canada Mortgage and Housing Corporation of the sale and removal of the Market Block from the social housing portfolio;

d. Toronto Community Housing Corporation shall use the net financial proceeds to fund a portion of the cost of construction for the replacement social housing in Regent Park; and

e. such other conditions that the General Manger, Shelter, Support and Housing Administration, considers reasonable and necessary to carry out the recommendations adopted by Council.

2. City Council authorize the General Manager, Shelter, Support and Housing Administration, to:

a. advise the Minister of Housing pursuant to section 163 of the Housing Services Act of the consent provided to the transfer of the Market Block to Daniels Regent Development Corporation and to request that these lands be removed from the social housing portfolio;

b. provide as required Service Manager consent pursuant to subsection 161 (2) of the Housing Services Act on terms and conditions satisfactory to the General Manager, Shelter, Support and Housing Administration, and in a form satisfactory to the City Solicitor, to any construction financing proposed by or on behalf of Daniels Regent Development Corporation; and

c. provide as required Service Manager consent pursuant to subsection 161 (2) of the Housing Services Act on terms and conditions satisfactory to the General Manager, Shelter, Support and Housing Administration, and in a form satisfactory to the City Solicitor, to future transfers of the Market Block by or on behalf of Daniels Regent Development Corporation pending the removal of the Market Block from the social housing portfolio.

3. City Council request the Chief Planner and Executive Director, City Planning, the Executive Director, Housing Secretariat, and the General Manager, Shelter, Support and Housing Administration in consultation with the Toronto Community Housing Corporation, to review the feasibility of greatly increasing the number of Rent-Geared-to-Income and affordable housing options in the remaining Phases 4 and 5 of the Regent Park Revitalization project, and to report back on the outcomes, source of funding and a business plan to the Planning and Housing Committee in the first quarter of 2021.

Toronto Community Housing Corporation has embarked on a multi-phase plan to redevelop Regent Park, the country's largest social housing community. Toronto Community Housing Corporation is more than halfway through the revitalization that will replace 2,083 rent-geared-to-income units and develop approximately 5,400 market units and 400 affordable rental units within a 69 acre site.

As part of the Phase 3 Revitalization, on January 10, 2020, Toronto Community Housing Corporation submitted a request to Shelter, Support and Housing Administration for consent to transfer legal title of Block 1, plan 66M-2529 (the Market Block), the last Market Block in Phase 3, to Daniels Regent Development Corporation to be developed as condominiums in connection with the redevelopment. The request for Service Manager consent also includes future transfers of the Market Block and consent to any mortgage granted to Toronto Community Housing Corporation by Daniels Regent Development Corporation to develop the Market Block including all future mortgages. Toronto Community Housing Corporation will use the proceeds from the land sales to fund costs associated with building replacement social housing units. The request has no financial implications to the City.

This report recommends that City Council as Service Manager grant consent for the transfer of the Market Block to Daniels Regent Development Corporation as part of Phase 3 of the Council-Approved Regent Park Revitalization.