Toronto Seniors Housing Corporation - Phase One

In anticipation of this transfer to TSHC, "Phase 1" work is underway with a focus on governance, hiring the CEO, and the detailed preparation for the transfer of staff and tenants on June 1st, 2022. We were all proud that the city's new signature corporation for seniors was approved by Council to provide a stronger focus on seniors' health and wellbeing to allow them to age in place. A robust tenant engagement model will also be developed and implemented to ensure that TSHC is able to be very responsive to the needs of seniors. As part of the preparation for the final transfer, it would be good if we can get a status update on the set up and operations of this phase of the work prior to the June 1st transfer date. It would confirm for the Executive Committee and Council that a seamless transition is underway, the new corporation is proceeding as anticipated and that it is on a firm footing. It could also allow the Shareholder to recommend any changes if necessary to ensure the future success of this exciting new venture in advance of the June 1st transfer date.