CreateTO
The full agenda, as filed
All 3 items in the clerk’s order. Each carries the city’s own words: the staff recommendation, what the body decided, and its status. Nothing below is written by us.
RA5.1adopted
On January 31, 2019, City Council approved a signature affordable housing initiative, "Housing Now," to leverage City-owned land for the purpose of creating new mixed-use, mixed-income, transit-oriented communities. Through the initiative, 11 properties were identified for development, which are expected to result in a total of approximately 10,000 new residential units. City Council set development targets for these properties of at least one-third affordable rental, one-third market rental, and no more than one-third ownership housing. The Housing Now initiative is coordinated through a steering committee comprised of senior staff from the Affordable Housing Office (AHO), City Planning and CreateTO. The first four properties deemed most ready for market offering this fall by the Steering Committee are: 140 Merton St., 777 Victoria Park Avenue, 705 Warden Avenue, and 50 Wilson Heights Boulevard. One or more brokers of record will be retained by June 2019 to support the marketing of the first four sites. The remainder will be marketed in the following two to three years. The Steering Committee, spearheaded by the Director, Affordable Housing Office, has engaged with Canada Mortgage and Housing Corporation ("CMHC") to ensure their participation through a range of funding and financing programs. In a February letter to Mayor Tory, the CMHC's President confirmed their support and interest in partnering with the City of Toronto in implementing the Housing Now Initiative. In collaboration with City staff, CreateTO has retained multi-disciplinary consultant teams for each of the four priority properties to support due diligence work and the City-initiated rezoning process. Our team is presently organizing the first round of public meetings for each site with input from the local Councillors. These meetings will introduce the Housing Now initiative and begin to solicit stakeholder input on development concepts for each site. The Affordable Housing Office is coordinating the involvement of non-profit housing organizations in the Housing Now Initiative. An introductory meeting was held on February 13, 2019 with a number of non-profit organizations to explore various approaches for the involvement and participation of non-profit and co-operative housing organizations in the 11 sites. This year, 140 Merton will be exclusively offered to non-profit housing organizations. The other three sites offered in 2019 will also provide for non-profit participation. The Affordable Housing Office will continue to work with the non-profit sector to activate the Non-Profit Housing Capacity Fund established through the Housing Now Initiative. CreateTO staff have engaged City divisions and agencies to clarify city-building opportunities to pursue on the properties, in addition to affordable housing. Environmental/geotechnical investigations and approval processes are underway. Draft market research reports (which provide market rents and sales prices and absorption rates for each of the sites) have been received for the four priority properties. This data along with approved densities and height will inform our business cases. The business cases and proposed marketing programs are to be submitted to the Board in September for approval. City and CreateTO staff will report to the CreateTO Board at two key milestones for each property: - Prior to the market offering process - CreateTO Board will review for approval the business case and proposed market offering process. - Prior to finalizing sale/lease agreements - CreateTO Board will review for approval the terms and conditions of the proposed sale/lease agreements with the successful proponent(s).
The Board of Directors of CreateTO: 1. Received the report (April 29, 2019) from the Chief Executive Officer, CreateTO for information.
Staff recommendation as filed
The Chief Executive Officer recommends that: 1. The Board of Directors receive this report for information.
RA5.2amended
Danforth Garage Master Plan Process
At its meeting of January 31, 2018, Toronto City Council ("Council") approved the preferred site located at 1627 Danforth Ave (the "Property" and the "Danforth Garage") for the consolidation of the current Toronto Police Service (the "TPS") 54 and 55 Police District facility. Council further directed the Deputy City Manager, Internal Corporate Services and the Chief Planner and Executive Director, City Planning to convene an interdivisional working group to undertake a Master Plan for the Property, to include community consultations, technical studies, and confirmation of required Toronto Transit Commission (TTC) uses on the Property and the exploration of other potential partners and uses. The Property, which contains the Danforth Garage is situated at the southeast corner of Danforth Avenue and Coxwell Avenue. The Property is located within a growth area of the City as identified in the City's Official Plan. A small portion of the existing garage facility is used for the TTCs Danforth Transportation and Stations Division, which will need to remain on the Property. The remainder of the Property contains other TTC functions, including storage and maintenance uses, which will require relocation to an alternative location with any future reuse of the Property. The Property's direct access to transit (Coxwell TTC subway station) presents an opportunity for revitalization and for its redevelopment to catalyze further investment along this portion of Danforth Avenue. CreateTO, Real Estate Services and City Planning, in collaboration with TTC, TPS and the Toronto Public Library ("TPL"), have completed the Danforth Garage Master Plan. The Master Plan provides a framework and phasing strategy to guide the redevelopment of the property as a multi-use civic hub while prioritizing design and construction work for the TTC and TPS building programs in the first phase. Phase 2 and 3 allow for consideration of alternative uses and potential public and interim uses for the portion of the Danforth Garage currently used for storage by the TTC. The complete Danforth Garage Master Plan Study can be found at http://bit.ly/danforth-garage-master-plan and the appendices can be found at http://bit.ly/danforth-garage-appendices. In order to proceed it will be necessary that the City allocate the pre-development costs required to proceed with a feasibility study for the adaptive reuse of the Danforth Garage facility on an interim and long-term basis; continue market sounding for the development of viable public and private partnerships for the development of Parcels A, B, C and F as shown in Attachment 4 of this report; and that a City initiated Official Plan and rezoning amendment to implement the framework for land uses as contained in this report.
The Board of Directors of CreateTO: 1. Endorsed the Master Plan as shown in Attachment 4 of the report (May 9, 2019) from the Chief Executive Officer, CreateTO, to guide the development of the Danforth Garage Property, provided the development addresses the following: 1. affordable housing; 2. Toronto Public Library; 3. community access to the TTC heritage barns. 2. Directed the Chief Executive Officer, Create TO to work on the next phase of the project once approved by City Council. 3. Forwarded its decision to the Executive Committee.
Staff recommendation as filed
The Chief Executive Officer, CreateTO recommends that: 1. The CreateTO Board endorse the Master Plan as shown in Attachment 4 of this report to guide the development of the Danforth Garage Property. 2. The CreateTO Board direct the Chief Executive Officer to work on the next phase of the project once approved by City Council.
RA5.3adopted
CreateTO 2018 Financial Results and Annual Report
2018 marked the first year of operations for CreateTO. For the year ending December 31, 2018, CreateTO Financial results are in line with the 2018 budget of $11.4 million.
The Board of Directors of CreateTO: 1. Received for information PricewaterhouseCoopers LLP's draft audit results report, in Attachment 1 of the report (April 29, 2019) from the Chief Financial Officer, CreateTO. 2. Recommended that City Council receive for information, the 2018 Annual Report, in Attachment 2 of the report (April 29, 2019) from the Chief Financial Officer, CreateTO. 3. Approved the 2018 Audited Financial Statements, in Attachment 3 of the report (April 29, 2019) from the Chief Financial Officer, CreateTO. 4. Recommended that City Council approve the 2018 Audited Financial Statements, in Attachment 3 of the report (April 29, 2019) from the Chief Financial Officer, CreateTO.
Staff recommendation as filed
The Chief Executive Officer recommends that the CreateTO Board of Directors: 1. Receive for information PricewaterhouseCoopers LLP's draft audit results report, in Attachment 1 of this report. 2. Recommend that City Council receive for information, the 2018 Annual Report, in Attachment 2 of this report. 3. Approve the 2018 Audited Financial Statements, in Attachment 3 of this report. 4. Recommend that City Council approve the 2018 Audited Financial Statements, in Attachment 3.