The filed record
Rapid Housing Initiative Budget Update - by Councillor Ana Bailão, seconded by Mayor John Tory
The Public Gallery wrote no story on this item. What follows is the city’s own record of what happened to it, as filed: nothing on this page is summarised or scored by us.
The decision
2021-04-07 · Toronto City Council · adopted
As filed
City Council on April 7 and 8, 2021, adopted the following: 1. City Council increase the 2021-2030 Council Approved Housing Secretariat Capital Budget and Plan for the Rapid Housing Initiative capital project by $6,324,500 gross and $0 debt in 2021, funded from the Land Acquisition Reserve Fund (XR1012) to support the commercial component of strategic acquisitions of sites identified under the Rapid Housing Initiative program.
On the agenda
As the city filed it
The Rapid Housing Initiative was announced by the Government of Canada on September 21, 2020. The Rapid Housing Initiative will deliver $1 billion in grant funding nationally to rapidly create new affordable rental housing in response to the urgent housing needs of vulnerable and marginalized individuals. The grant funding for the Rapid Housing Initiative will be delivered through the Canada Mortgage and Housing Corporation and will cover the construction of modular housing, the acquisition of land, and the conversion of existing buildings to affordable housing.
Show the rest of As the city filed it, 736 more characters as filed
However, the Rapid Housing Initiative funding may only be allocated towards residential components of acquisitions. City staff have identified multi-use properties as acquisition opportunities for the Rapid Housing Initiative Program. To continue to meet the Rapid Housing Initiative program objectives, including ensuring that housing is available by the end of 2021, City staff are urgently recommending that the Housing Secretariat Rapid Housing Initiative Budget be increased and funded from the Land Acquisition Reserve Fund. This increase will fund the commercial component of strategic acquisitions of sites identified under the Rapid Housing Initiative program, which is not covered by Canada Mortgage and Housing grant funding.
Staff recommended
Councillor Ana Bailao, seconded by Mayor John Tory, recommends that: 1. City Council increase the 2021-2030 Council Approved Housing Secretariat Capital Budget and Plan for the Rapid Housing Initiative capital project by $6,324,500 gross and $0 debt in 2021, funded from the Land Acquisition Reserve Fund (XR1012) to support the commercial component of strategic acquisitions of sites identified under the Rapid Housing Initiative program.
On the record
More from this meeting
- Introduction and Enactment of General Bills and Confirming BillsFiled record
- Enhancing Policing Accountability through a Memorandum of Understanding with Ombudsman TorontoFiled record
- 206 Russell Hill Road - Repeal of Heritage Designation By-lawFiled record
- Status of Collective Bargaining and Labour RelationsFiled record
- Authorization to Release Section 37 Funds from the Development at 4 and 6 Tippett Road to Community Matters Toronto for Painting Mural Art on 13 Bell Utility Boxes in York-Centre - by Councillor James Pasternak, seconded by Councillor Jaye RobinsonFiled record
- Call to OrderFiled record