2023.EX10.2

Background

“The worsening housing crisis demands heightened action and investments from all orders of government.” Central to addressing this issue is maintaining the principle of “Sustainability and Predictability – creating sustainable, mixed-income buildings within complete communities; and mechanisms for more predictable funding.” Also crucial is “Climate Action – creating new energy efficient homes and improving the condition of existing homes.”

Source: City of Toronto

Item Description

This item seeks to build ‘complete’ communities “through the development and intensification of its lands and buildings, including prioritizing the delivery of net new rent-geared-to-income, affordable and market rent-controlled homes, in addition to replacement of existing rent-geared-to-income homes.” This will be facilitated largely through the amendment of section 4.1.2(c) of the Toronto Community Housing Corporation Shareholder Direction to authorize these changes. Leveraging City partnerships and City owned lands to facilitate this development is also emphasized.

Source: City of Toronto

Proposed by

Executive Committee