Use of Section 37 Funds for Renovation and Modernization of Affordable Rental Homes at 25 Leonard Avenue - by Councillor Mike Layton, seconded by Councillor Joe Cressy

The 22 new affordable rental homes, scheduled for occupancy in the summer of this year, will provide dignified housing for some of our most vulnerable and marginalized residents who are currently experiencing homelessness. During the ongoing COVID-19 pandemic, the need for access to permanent affordable homes is greater than ever to protect individual and public health. This Motion seeks Council's approval to transfer $102,250 to the Shelter, Support and Housing Administration's Operating Budget, on a one time basis, to provide funding to St. Clare's Multifaith Housing Society, fully funded from Section 37 (Planning Act Reserve Fund) community benefits from the development at 1-11 Bloor Street West within Ward 11. This funding will help support completion of the affordable rental housing project at 25 Leonard Avenue which will modernize the existing 77 social housing units on the site and add 22 new affordable rental units.

1-11 Bloor Street West, 768-784 Yonge Street, and 760-762 Yonge Street, secured for the procurement, design and construction of new affordable housing facilities, in the amount of $102,250.00 (Source Account: 22096). 2. City Council increase the Approved 2020 Operating Budget for Shelter, Support and Housing Administration, by $102,250 gross, $0 net, in coordination with the Executive Director, Housing Secretariat, for affordable housing at 25 Leonard Avenue 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. St. Clare's Multifaith Housing Society signing an agreement which governs the use of the funds and the financial reporting requirements.