Item - 2022.IE30.10
Tracking Status
- City Council adopted this item on June 15, 2022 without amendments.
- This item was considered by the Infrastructure and Environment Committee on May 25, 2022 and adopted without amendment. It will be considered by City Council on June 15, 2022.
- See also By-law 549-2022
IE30.10 - Authorization to Establish an Obligatory Reserve Fund for the Home Energy Loan Program with Funding from the Federation of Canadian Municipalities
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
City Council Decision
City Council on June 15 and 16, 2022, adopted the following:
1. City Council approve the establishment of an obligatory reserve fund called the FCM Funded Energy Works Reserve Fund in Appendix C, Schedule 15 – Third Party Agreements Obligatory Reserve Funds, to the report (May 11, 2022) from the Chief Financial Officer and Treasurer and the Executive Director, Environment and Energy, for the purpose of managing funds received from the Federation of Canadian Municipalities to support the Home Energy Loan Program, with criteria set out in Appendix A to the report (May 11, 2022) from the Chief Financial Officer and Treasurer and the Executive Director, Environment and Energy.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2022/ie/bgrd/backgroundfile-225794.pdf
Communications (Committee)
Motions (City Council)
Vote (Adopt Item) Jun-15-2022 10:33 AM
| Result: Carried | Majority Required - IE30.10 - Adopt the Item |
|---|---|
| Total members that voted Yes: 22 | Members that voted Yes are Paul Ainslie, Ana Bailão, Brad Bradford, Robin Buxton Potts, Shelley Carroll, Mike Colle, Gary Crawford, John Filion, Paula Fletcher, Mark Grimes, Stephen Holyday, Cynthia Lai, Nick Mantas, Josh Matlow, Joe Mihevc, Denzil Minnan-Wong, Frances Nunziata (Chair), James Pasternak, Gord Perks, Anthony Perruzza, Jaye Robinson, John Tory |
| Total members that voted No: 0 | Members that voted No are |
| Total members that were Absent: 3 | Members that were absent are Mike Layton, Jennifer McKelvie, Michael Thompson |
Declared Interests (City Council)
Councillor Mike Layton - as he has an outstanding funding agreement with the City in relation to the Home Energy Loan Program.
Written Declaration: https://secure.toronto.ca/council/declared-interest-file.do?id=11078
IE30.10 - Authorization to Establish an Obligatory Reserve Fund for the Home Energy Loan Program with Funding from the Federation of Canadian Municipalities
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
Committee Recommendations
The Infrastructure and Environment Committee recommends that:
1. City Council approve the establishment of an obligatory reserve fund called the FCM Funded Energy Works Reserve Fund in Appendix C, Schedule 15 – Third Party Agreements Obligatory Reserve Funds, of the report (May 11, 2022) from the Chief Financial Officer and Treasurer and the Executive Director, Environment and Energy, for the purpose of managing funds received from the Federation of Canadian Municipalities to support the Home Energy Loan Program, with criteria set out in Appendix A of the report (May 11, 2022) from the Chief Financial Officer and Treasurer and the Executive Director, Environment and Energy.
Origin
Summary
The Federation of Canadian Municipalities Community Efficiency Financing program has approved the City of Toronto, through the Home Energy Loan Program, for up to $9,712,000 in financing and $4,856,000 in grants to support energy-efficient retrofits and pathways to net zero for single-family homes in Toronto. Through the Home Energy Loan Program, the City offers low-interest loans to help homeowners make their homes more energy efficient and reduce greenhouse gas emissions, in support of the City’s TransformTO climate action strategy and net-zero emissions target.
On October 1, 2021, City Council authorized the Deputy City Manager, Corporate Services, the Chief Financial Officer and Treasurer, and the Mayor to enter into a grant and loan agreement with the Federation of Canadian Municipalities to accept a loan in accordance with Chapter 30 of the City of Toronto Municipal Code under the Federation of Canadian Municipalities Green Municipal Fund Program, upon terms satisfactory to them and in a form acceptable to the City Solicitor.
The City intends to execute a final agreement with the Federation of Canadian Municipalities shortly. Upon executing a final agreement City staff will establish an obligatory reserve fund for the purpose of managing loan and grant funds, including disbursement of funds to program participants. The purpose of this report is to authorize the establishment of the obligatory reserve fund required to effectively manage funding associated with the Program.
Background Information
https://www.toronto.ca/legdocs/mmis/2022/ie/bgrd/backgroundfile-225794.pdf
Communications
Motions
Vote (Adopt Item) May-25-2022
| Result: Carried | Majority Required |
|---|---|
| Total members that voted Yes: 5 | Members that voted Yes are Mike Colle, Jennifer McKelvie (Chair), Denzil Minnan-Wong, James Pasternak, Anthony Perruzza |
| Total members that voted No: 0 | Members that voted No are |
| Total members that were Absent: 1 | Members that were absent are Mike Layton |
Declared Interests
Councillor Mike Layton - as he still has an outstanding funding agreement with the City of Toronto for the Home Energy Loan Program