Authority to Enter into a Delivery Agreement to Facilitate the Sale of 10 Affordable Ownership Housing Units at 500 Wilson Avenue to Habitat for Humanity GTA - by Councillor James Pasternak, seconded by Councillor Jaye Robinson

City Council authorized the deferral of the development charges. More recently, CollecDev initiated discussions with Habitat for Humanity GTA and together CollecDev and Habitat for Humanity GTA are now proposing a revised approach to the provision of affordable ownership units. CollecDev proposes to sell 10 units to Habitat for Humanity GTA at fair market value and provide $500,000 to the program to reduce the purchase prices. In addition, Collecdev, on behalf of the owner of 500 Wilson Avenue, proposes to donate $400,000 directly to Habitat for Humanity GTA which will be distributed across the 10 units to facilitate final sales to Habitat for Humanity GTA purchasers who may otherwise not be able to afford the units. This Motion is urgent because the manner in which affordable housing units are now being proposed to be provided is being changed, and Item CC44.35 did not provide authority to enter into an agreement with Habitat for Humanity GTA.

any security, financing or other documents required with the owner of the 500 Wilson Avenue, Habitat, or any other parties deemed necessary to facilitate the development charges deferral outlined in this Motion, on terms and conditions satisfactory to the Executive Director, Housing Secretariat and in a form satisfactory to the City Solicitor. 2. City Council authorize the City Solicitor to execute, postpone, confirm the status of and discharge any City security documents registered as required by normal business practices.