2024.PH13.9

Background

As extreme weather becomes increasingly common, maintaining adequate and affordable housing is crucial to guarantee people's health and safety. “[T]here are currently over 200 Community Housing Providers in Toronto that operate over 40,000 subsidized Rent-Geared-To-Income (RGI) and affordable homes. About 75% of this stock was built prior to 1987 utilizing federal and provincial funding programs. Action from all orders of government is urgently needed to preserve and modernize these aging homes.”

Source: City of Toronto

Item Description

This item provides new policy, regulatory, and funding frameworks between the city and housing partners with the goal of maintaining the existing capacity of affordable housing networks. This includes “enter[ing] into new Service Agreements related to the administration and funding of [...] housing projects [...] with mortgages that have reached the end of their term, upon terms and conditions satisfactory to [the City].” It also includes a number of actions to facilitate the creation of more affordable housing, such as broadening Multi-Unit Residential Acquisition (MURA) program funding and encouraging densification through rezoning. 

Source: City of Toronto

Proposed by

Planning and Housing Committee