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←CreateTO · 2021-05-11 · 2021.RA22.15

The filed record

Housing Now Financial Portfolio Review

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The decision

2021-05-11 · CreateTO · deferred

As filed

The Board of Directors of CreateTO: 1. Deferred consideration of the item until its July 7, 2021 meeting or to a special meeting to be called by the Chair.

On the agenda

As the city filed it

On January 30, 2019, City Council approved a signature affordable housing program, the "Housing Now Initiative," to leverage City-owned land for the purpose of creating new, mixed-use, mixed-income communities near transit. Through the Initiative, 11 properties were initially identified for development, with the potential to create a total of 10,000 new residential units. On May 28, 2020, Council approved the addition of six more sites to the Housing Now Initiative with the potential to create 1,455 to 1,700 additional residential units.

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The Housing Now Initiative is coordinated through a Steering Committee composed of senior staff from the Housing Secretariat, City Planning and CreateTO. The purpose of this report is to provide the CreateTO Board of Directors with a broad status update on the financial status of the portfolio.

Staff recommended

The Vice President, Development, CreateTO recommends that: 1. The Board of Directors of CreateTO authorize the public release of the confidential information contained in Confidential Attachment following completion of execution of the Housing Now Initiative, and at the discretion of the Chief Executive Officer.

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