Item - 2022.MM43.24

City Council on May 11 and 12, 2022, adopted the following:

1. City Council request the Chief Planner and Executive Director, City Planning, in consultation with the Executive Director, Housing Secretariat, the Chief Building Official and Executive Director, Toronto Building, the City Solicitor and the Chief Executive Officer, CreateTO, to report to the Planning and Housing Committee in the third quarter of 2023 on the following:

a. a development pipeline broken down by application submitted, Zoning By-law Amendment/Official Plan Amendment approval, Site Plan Approval, Building Permit issued and appealed to the Ontario Land Tribunal differentiated by major and minor projects;

b. an assessment of average time for application appeals to be settled at the Ontario Land Tribunal from date of appeal;

c. an estimate of population and new units that could be accommodated on existing soft sites on Avenues, Major Transit Station Areas, and Growth Centres under the existing Official Plan;

d. an assessment of barriers to growth along the Bloor-Danforth subway line;

e. a Labour Market Survey of residential construction capacity in the City of Toronto;

f. an assessment of in-house construction management for affordable housing on City-owned properties;

g. the potential incentives and/or penalties to encourage landlords to retain buildings with less than six units as rental apartments;

h. a strategy to harmonize the Multi-Unit Residential property tax rate with the Residential property tax rate;

i. the feasibility of implementing municipal measures to curb speculation and investment properties including, but not limited to, higher land transfer taxes for investment properties, lower land transfer taxes for primary residences, and requesting the Toronto Police Service to vigorously investigate money laundering in the residential sector;

j. the feasibility of implementing municipal measures at all stages, including pre-application land assemblies, to encourage developers to deliver new housing faster including land value and parking lot taxes, penalties and/or incentives to discourage “phasing” of new supply in large projects; and

k. an Impact Assessment of Real Estate Investment Trusts and consolidation of rental properties by large corporate Landlords on the Toronto housing market.