Authorization to Release Section 37 Funds from the Development at 390 to 440 Dufferin St and 41 Alma Avenue to the Neighbourhood Land Trust to support the development of affordable rental housing at 128 Havelock Street - by Councillor Alejandra Bravo, seconded by Deputy Mayor Ausma Malik

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

2024-03-20 · Toronto City Council · adopted

As filed

City Council on March 20 and 21, 2024, adopted the following: 1. City Council authorize the Executive Director, Housing Secretariat, subject to Part 2 below, to provide $800,000 in funding, inclusive of Harmonized Sales Tax and disbursements, from the Capital Revolving Reserve Fund for Affordable Housing (Source Account: XR1058) to the Neighbourhood Land Trust to support the redevelopment of 128 Havelock Street to contain 10 new units of affordable rental housing, fully funded from the following development: a.

Show the rest of As filed, 744 more characters as filed

390 to 440 Dufferin St and 41 Alma Avenue, secured for affordable housing in Ward 9 in the amount of $800,000 (Source Account: XR3026-3701238). 2. City Council increase the 2024 Operating Budget for Housing Secretariat by $800,000 gross, $0 net, to be payable to the Neighbourhood Land Trust, subject to the following conditions: a. the transfer of the designated funds from XR3026-3701238 to XR1058; and b. the funds being secured in the municipal housing facility agreement (the City's "Contribution Agreement") to be entered into between the Neighbourhood Land Trust and the City under the Open Door Affordable Rental Program on terms satisfactory to the Executive Director, Housing Secretariat, and in a form approved by the City Solicitor.

On the agenda

As the city filed it

In 2022 the Neighbourhood Land Trust took ownership of the vacant and derelict un-licensed rooming housing property at 128 Havelock Street, as part of a larger portfolio of 81 properties acquired from Toronto Community Housing Corporation. Neighbourhood Land Trust has worked with City staff to develop a construction project that proposes redeveloping 128 Havelock Street from a 5-room house to a property offering 10 new self-contained residential units of affordable rental housing.

Show the rest of As the city filed it, 658 more characters as filed

This will be accomplished through a major retrofit of the existing building and the new construction of a back addition. YWCA Toronto will be the social housing operator for this property. The units will be offered to households led by women or gender diverse individuals, selected through the City of Toronto's waiting list for subsidized housing. This motion is urgent as the Housing Secretariat must confirm financial contributions to the project in order to prepare the Open Door Contribution Agreement and allow the project to proceed. The release of these funds will advance the City's commitment to urgently building more affordable homes in the City.

Staff recommended

Councillor Alejandra Bravo, seconded by Deputy Mayor Ausma Malik, recommends that: 1. City Council authorize the Executive Director, Housing Secretariat, subject to Part 2 below, to provide $800,000 in funding, inclusive of Harmonized Sales Tax and disbursements, from the Capital Revolving Reserve Fund for Affordable Housing (XR1058) to the Neighbourhood Land Trust to support the redevelopment of 128 Havelock Street to contain 10 new units of affordable rental housing, fully funded from the following development: a.

Show the rest of Staff recommended, 744 more characters as filed

On the record

The item as the City filed it

More from this meeting

The whole meeting