411 Victoria Park Avenue - Authorizing an Option to Purchase Agreement with Habitat for Humanity - By Councillor Gary Crawford, seconded by Councillor Brad Bradford

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

2023-03-29 · Toronto City Council · adopted

As filed

City Council on March 29, 30 and 31, 2023, adopted the following: 1. City Council adopt the following recommendations in the attached report (March 22, 2023) from the Executive Director, Housing Secretariat: a. City Council authorize the City, to enter into the Option Agreement substantially on the same terms and conditions set out Appendix A to the report (March 22, 2023) from the Executive Director, Housing Secretariat, and on such other or amended terms and conditions acceptable to the Executive Director, Housing Secretariat, and in a form satisfactory to the City Solicitor; and b.

Show the rest of As filed, 167 more characters as filed

City Council authorize the Executive Director, Housing Secretariat to execute the Option Agreement on behalf of the City, in addition to corporate signing authorities.

On the agenda

As the city filed it

City Council approval is required to authorize an Option to Purchase Agreement (the "Option Agreement") with Habitat for Humanity related to the affordable home ownership housing development at 411 Victoria Park Avenue in Scarborough Southwest. Diamond Kilmer is the owner and developer of the 411 Victoria Park Avenue site and plans to transfer a parcel of land (the "Affordable Ownership Parcel") to Habitat for Humanity ("Habitat") to build 58 affordable homeownership townhomes.

Show the rest of As the city filed it, 908 more characters as filed

The Option Agreement between the City and Habitat is urgently required as it is a prerequisite for Diamond Kilmer to transfer the lands to Habitat and the registration of Diamond Kilmer's Plan of Subdivision and issuance of their first above-grade building permit. Diamond Kilmer purchased 411 Victoria Park Avenue from CreateTO with the obligation to develop a parcel for affordable ownership housing purposes. A Section 37 Agreement was signed in November 2021 that requires Diamond Kilmer to transfer the Affordable Ownership Parcel to a non-profit housing provider. The Section 37 Agreement requires the provider to enter into an Option to Purchase Agreement with the City so that, in the unlikely event that the provider is unable to develop the property within a reasonable timeframe, the lands will return to the City. The City would then seek another non-profit group to build the affordable housing.

Staff recommended

Councillor Gary Crawford, seconded by Councillor Brad Bradford, recommends that: 1. City Council adopt the following recommendations in the attached report (March 22, 2023) from the Executive Director, Housing Secretariat: a. City Council authorize the City, to enter into the Option Agreement substantially on the same terms and conditions set out Appendix A to the report (March 22, 2023) from the Executive Director, Housing Secretariat, and on such other or amended terms and conditions acceptable to the Executive Director, Housing Secretariat, and in a form satisfactory to the City Solicitor.

Show the rest of Staff recommended, 170 more characters as filed

b. City Council authorize the Executive Director, Housing Secretariat to execute the Option Agreement on behalf of the City, in addition to corporate signing authorities.

On the record

The item as the City filed it

More from this meeting

The whole meeting