Supporting the Development of Supportive Housing - Assistance to Reena's Project at 165 Elm Ridge Drive - by Councillor Mike Colle, seconded by Councillor Shelley Carroll

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

2023-07-19 · Toronto City Council · adopted

As filed

City Council on July 19 and 20, 2023, adopted the following: 1. City Council authorize the Executive Director, Corporate Real Estate Management, in consultation with the General Manager, Parks, Forestry and Recreation, to enter into real estate licences, at nominal value, for tie-back encumbrances, crane swing, and construction staging required for the construction of the affordable housing project at 165 Elm Ridge Drive, with the value of the agreements to be secured in the Contribution Agreement between the City and Reena.

Show the rest of As filed, 546 more characters as filed

2. City Council direct the Executive Director, Housing Secretariat, in consultation with the Executive Director, Corporate Real Estate Management, to report back on the feasibility of expanding the Open Door Affordable Rental Housing Program to include the authority for the City to enter into licences or other arrangements at nominal value and/or to waive fees related to tieback encumbrances, construction staging and crane swing agreements for eligible affordable housing projects under the City's Open Door Affordable Rental Housing Program.

On the agenda

As the city filed it

This Motion seeks authority to waive City fees and charges for the City real estate agreements, including tie-back agreement, crane swing agreement, and construction staging agreement for the much needed supportive housing project at 165 Elm Ridge Drive. The development at 165 Elm Ridge Drive proposes a total of 111 units which includes 106 net new supportive housing units for people with developmental disabilities. The project was approved through the City's Open Door Program to provide financial incentives for the 106 net new units.

Show the rest of As the city filed it, 1,799 more characters as filed

Reena has been advancing the development and is now ready to commence construction. The property abuts the Beltline Park to the south therefore Reena is required to enter into a tie-back agreement, a crane swing agreement, and a potentially a construction staging agreement with the City to facilitate construction activities. Based on current City policy, the compensation to the City for encumbering City properties is estimated based on market value of the impacted area. For the development at 165 Elm Ridge Drive, the estimate value is $179,000 for the tie-back agreement, and $49,707 for the crane swing agreement. Waiving the City fees and charges for the real estate agreements for this affordable housing project is crucial for the project to stay financially viable and proceed to construction in the near future. The City of Toronto provides various types of financial and non-financial support for the development of new affordable housing. The Open Door Program assists private and non-profit affordable housing organizations to reduce the cost of developing housing and improve housing affordability by providing City financial contributions including capital funding and/or incentives such as waiving planning and building permit fees, and exempting development charges and property taxes. The Open Door Program does not currently include fees and charges related to real estate agreements that apply on certain affordable housing projects. Housing Secretariat and Corporate Real Estate Management have been requested to investigate the feasibility of expanding the Open Door exemptions for construction-related real estate agreements between the affordable housing developers and the City of Toronto. This Motion is urgent as Reena is anticipating beginning construction immediately.

Staff recommended

Councillor Mike Colle, seconded by Councillor Shelley Carroll, recommends that: 1. City Council authorize the Executive Director, Corporate Real Estate Management, in consultation with the General Manager, Parks, Forestry and Recreation, to enter into real estate licences, at nominal value, for tie-back encumbrances, crane swing, and construction staging required for the construction of the affordable housing project at 165 Elm Ridge Drive, with the value of the agreements to be secured in the Contribution Agreement between the City and Reena.

Show the rest of Staff recommended, 546 more characters as filed

On the record

The item as the City filed it

More from this meeting

The whole meeting