1117-1119 Gerrard Street East

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The decision

2020-10-27 · Toronto City Council · amended

As filed

City Council on October 27, 28 and 30, 2020, adopted the following: 1. City Council authorize the Executive Director, Housing Secretariat to provide $100,000 inclusive of Harmonized Sales Tax and disbursements, from the Development Charges Reserve Fund for Subsidized Housing (XR2116), to WoodGreen Community Housing Incorporated to support the completion of the 1117 - 1119 Gerrard Street East redevelopment to create 36 new affordable units for seniors, subject to WoodGreen Community Housing Incorporated signing an agreement which governs the use of the funds and the financial reporting requirements.

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2. City Council increase the 2020 Operating Budget for Shelter, Support and Housing Administration by $100,000 gross, $0 net for affordable housing at 1117 - 1119 Gerrard Street East, funded from the Development Charges Reserve Fund for Subsidized Housing (XR2116).

On the agenda

As the city filed it

In March 2017, City Council requested the Director, Affordable Housing Office to negotiate the terms and conditions of federal/provincial financial assistance and City incentives to WoodGreen Community Housing Inc. ("WoodGreen") for the redevelopment of 1117 and 1119 Gerrard Street East. Through this process, a total of $5.4 million in federal/provincial funding was approved to support the addition of 36 new affordable rental homes for seniors, with rents not to exceed 80% Average Market Rent (AMR).

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In March 2018, City Council also authorized property tax exemptions for the new affordable rental homes. It has come to my attention that due to increases in construction costs and other factors beyond WoodGreen's control, additional funding may be needed to support completion of this project in 2020. The completion of this project is critical especially at this time due to the need to provide safe, secure and affordable homes for low-and-moderate-income seniors. As the COVID-19 pandemic has shown, seniors have been disproportionately impacted by the health crisis and more housing options to help seniors age in place is urgently needed.

Staff recommended

The Planning and Housing Committee requests that: 1. The Executive Director, Housing Secretariat report directly to the October 27 and 28, 2020 meeting of City Council and provide an update on the affordable rental housing project at 1117-1119 Gerrard Street East, including details of the additional funding needed for the project and a recommended source of funds.

Considered

2020-10-20 · Planning and Housing Committee · forwarded without recommendation
Decision as filed
The Planning and Housing Committee submits the item to City Council without recommendations.
Clerk’s note
The Planning and Housing Committee: 1. Requested the Executive Director, Housing Secretariat report directly to the October 27 and 28, 2020 meeting of City Council and provide an update on the affordable rental housing project at 1117-1119 Gerrard Street East, including details of the additional funding needed for the project and a recommended source of funds.
2020-10-27 · Toronto City Council · amended

On the record

The item as the City filed it

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