| 147201 | REPORT | N | N | MAIN | ACTION | AMENDED | — | N | — | Authority to Enter into Municipal Housing Project Facility Agreements with Community Housing Providers | — | 2026.PH31.9 | — | Y | Y | Y | Y | <p>The Executive Director, Housing Secretariat, recommends that:</p>
<p> </p>
<p>1. City Council authorize the Executive Director, Housing Secretariat, to negotiate and enter into, on behalf of the City, Municipal Housing Project Facility Agreements (the City’s Contribution Agreements) with Alexandra Park Housing Co-operative, Beech Hall Housing Co-operative and Stanley Knowles Housing Co-operative to set out the terms of the operation of affordable housing, for the properties described in Table 1, in accordance with the Toronto Municipal Code Chapter 513, Housing Programs, on terms and conditions satisfactory to the Executive Director, Housing Secretariat, and in a form approved by the City Solicitor.</p>
<p> </p>
<p>2. City Council exempt up to 104 affordable rental homes at 25 Eden Place, operated by Alexandra Park Housing Co-operative, from taxation for municipal and school purposes for the term of the Municipal Housing Project Facility Agreement.</p>
<p> </p>
<p>3. City Council exempt up to 127 affordable rental homes at 2-14 Humber Boulevard and 15-23 Cordella Avenue, operated by Beech Hall Housing Co-operative, from taxation for municipal and school purposes for the term of the Municipal Housing Project Facility Agreement.</p>
<p> </p>
<p>4. City Council exempt up to 103 affordable rental homes at 38 Orchard View Boulevard, operated by Stanley Knowles Housing Co-operative, from taxation for municipal and school purposes for the term of the Municipal Housing Project Facility Agreement.</p>
<p> </p>
<p>5. City Council authorize the Executive Director, Corporate Real Estate Management, in consultation with the Executive Director, Housing Secretariat to amend the Policy Framework for Ground Leases for Community Housing Providers to extend the allowable term length to up to 99 years, replacing the previously approved maximum of 49 years.</p>
<p> </p>
<p>6. City Council authorize each of the Executive Director, Housing Secretariat, and Executive Director, Housing Development Office, severally to negotiate and enter into, on behalf of the City, Municipal Housing Project Facility Agreements (the City’s Contribution Agreements) or amendments to existing Contribution Agreements with Toronto Community Housing Corporation for financial incentives and to set out the terms of the operation of affordable rental housing at 175 Oak Street and 130 Augusta Avenue, on terms and conditions satisfactory to the Executive Director, Housing Secretariat, in consultation with the Executive Director, Housing Development Office and in a form satisfactory to the City Solicitor.</p>
<p> </p>
<p>7. City Council exempt up to 213 affordable rental homes at 175 Oak Street, operated by Toronto Community Housing Corporation, from taxation for municipal and school purposes for a period of 99 years, effective from the date as set out in the City's Municipal Housing Project Facility Agreement.</p>
<p> </p>
<p>8. City Council exempt up to 99 affordable rental homes at 130 Augusta Avenue, owned by Toronto Community Housing Corporation and operated by Atkinson Housing Co-operative, from taxation for municipal and school purposes for the term of the Municipal Housing Project Facility Agreement.</p>
<p> </p>
<p>9. City Council authorize the Chief Financial Officer to cancel or refund any taxes paid after the Effective Date of the Municipal Housing Project Facility Agreements, for the properties described in Table 1 and Table 2, with Alexandra Park Housing Co-operative, Beech Hall Housing Co-operative, Stanley Knowles Housing Co-operative, and Toronto Community Housing Corporation.</p> | <p><strong>Entering into Municipal Housing Project Facility Agreements (the City’s Contribution Agreements) with Alexandra Park Co-op, Beech Hall Co-op and Stanley Knowles Co-op</strong></p>
<p><strong> </strong></p>
<p>This report seeks City Council authority to enter into Contribution Agreements with Alexandra Park Co-op, Beech Hall Co-op and Stanley Knowles Co-op for the affordable rental homes listed in Table 1.</p>
<p> </p>
<p>The estimated total net present value (“NPV”) of the property tax exemptions for 334 affordable rental units, across the properties operated by Alexandra Park Co-op, Beech Hall Co-op and Stanley Knowles Co-op, over the relevant affordability periods is $14.4 million, as shown in Table 1. These exemptions are not direct cash payments from the City but represent forgone revenue from the City portion of property taxes of approximately $12.5 million over the term of the affordability periods. The provincial education portion of property taxes of approximately $1.9 million will no longer be required to be remitted to the Province once the exemption takes effect. Ongoing eligibility for the property tax exemption is conditional on continued compliance with the terms and conditions of the City's Contribution Agreements over the term of the agreement.</p>
<p> </p>
<p>Table 1: Estimated Value of Property Tax Exemptions for Affordable Rental Homes Operated by Alexandra Park Co-op, Beech Hall Co-op and Stanley Knowles Co-op*</p>
<p> </p>
<p> </p>
<table style="width: 100.0%; border-collapse: collapse; border: none;" width="100%">
<thead>
<tr style="height: 88.55pt;">
<td style="width: 13.92%; border: solid windowtext 1.0pt; background: #E8E8E8; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 88.55pt;" width="13%">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">Community Housing Provider</span></strong></p>
</td>
<td style="width: 10.12%; border: solid windowtext 1.0pt; border-left: none; background: #E8E8E8; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 88.55pt;" width="10%">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">Address</span></strong></p>
</td>
<td style="width: 12.32%; border: solid windowtext 1.0pt; border-left: none; background: #E8E8E8; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 88.55pt;" width="12%">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;"># of</span></strong></p>
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">Affordable</span></strong></p>
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">Rental</span></strong></p>
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">Homes Requiring Exemption</span></strong></p>
</td>
<td style="width: 10.46%; border: solid windowtext 1.0pt; border-left: none; background: #E8E8E8; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 88.55pt;" width="10%">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">Affordability Period (years)</span></strong></p>
</td>
<td style="width: 13.92%; border-top: solid windowtext 1.0pt; border-left: none; border-bottom: solid black 1.0pt; border-right: solid windowtext 1.0pt; background: #E8E8E8; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 88.55pt;" width="13%">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;"> </span></strong></p>
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">NPV of Municipal Tax + City Building Levy </span></strong></p>
</td>
<td style="width: 12.66%; border-top: solid windowtext 1.0pt; border-left: none; border-bottom: solid black 1.0pt; border-right: solid windowtext 1.0pt; background: #E8E8E8; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 88.55pt;" width="12%">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">NPV of Education Tax </span></strong></p>
</td>
<td style="width: 13.92%; border-top: solid windowtext 1.0pt; border-left: none; border-bottom: solid black 1.0pt; border-right: solid windowtext 1.0pt; background: #E8E8E8; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 88.55pt;" width="13%">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">NPV of Property Tax Exemption</span></strong></p>
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;"> </span></strong></p>
</td>
<td style="width: 12.66%; border: solid windowtext 1.0pt; border-left: none; background: #E8E8E8; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 88.55pt;" width="12%">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">2026 Total Property Tax Exemption</span></strong></p>
</td>
</tr>
</thead>
<tbody>
<tr style="page-break-inside: avoid; height: 14.85pt;">
<td style="width: 13.92%; border: solid black 1.0pt; border-top: none; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="13%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">Alexandra Park Housing Co-operative</span></p>
</td>
<td style="width: 10.12%; border-top: none; border-left: none; border-bottom: solid black 1.0pt; border-right: solid black 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="10%">
<p style="text-align: center; line-height: 107%;"><span style="font-size: 11.0pt; line-height: 107%;">25 Eden Pl.</span></p>
</td>
<td style="width: 12.32%; border-top: none; border-left: none; border-bottom: solid black 1.0pt; border-right: solid black 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="12%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">104</span></p>
</td>
<td style="width: 10.46%; border-top: none; border-left: none; border-bottom: solid black 1.0pt; border-right: solid black 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="10%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">49</span></p>
</td>
<td style="width: 13.92%; border-top: none; border-left: none; border-bottom: solid black 1.0pt; border-right: solid black 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="13%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">$2,247,888</span></p>
</td>
<td style="width: 12.66%; border-top: none; border-left: none; border-bottom: solid black 1.0pt; border-right: solid black 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="12%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">$343,714</span></p>
</td>
<td style="width: 13.92%; border-top: none; border-left: none; border-bottom: solid black 1.0pt; border-right: solid black 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="13%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">$2,591,602</span></p>
</td>
<td style="width: 12.66%; border-top: none; border-left: none; border-bottom: solid black 1.0pt; border-right: solid black 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="12%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">$64,431</span></p>
</td>
</tr>
<tr style="page-break-inside: avoid; height: 14.85pt;">
<td style="width: 13.92%; border-top: none; border-left: solid black 1.0pt; border-bottom: solid windowtext 1.0pt; border-right: solid black 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="13%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">Beech Hall Housing Co-operative</span></p>
</td>
<td style="width: 10.12%; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid black 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="10%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">2-14 Humber Blvd. & 15-23 Cordella Ave.</span></p>
</td>
<td style="width: 12.32%; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid black 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="12%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">127</span></p>
</td>
<td style="width: 10.46%; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid black 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="10%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">49</span></p>
</td>
<td style="width: 13.92%; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid black 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="13%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">$3,657,603</span></p>
</td>
<td style="width: 12.66%; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid black 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="12%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">$559,268</span></p>
</td>
<td style="width: 13.92%; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid black 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="13%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">$4,216,870</span></p>
</td>
<td style="width: 12.66%; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid black 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="12%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">$104,838</span></p>
</td>
</tr>
<tr style="page-break-inside: avoid; height: 14.85pt;">
<td style="width: 13.92%; border: solid windowtext 1.0pt; border-top: none; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="13%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">Stanley Knowles Housing Co-operative</span></p>
</td>
<td style="width: 10.12%; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid windowtext 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="10%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">38 Orchard View Blvd.</span></p>
</td>
<td style="width: 12.32%; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid windowtext 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="12%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">103</span></p>
</td>
<td style="width: 10.46%; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid windowtext 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="10%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">49</span></p>
</td>
<td style="width: 13.92%; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid windowtext 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="13%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">$6,599,372</span></p>
</td>
<td style="width: 12.66%; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid windowtext 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="12%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">$1,009,080 </span></p>
</td>
<td style="width: 13.92%; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid windowtext 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="13%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">$7,608,452 </span></p>
</td>
<td style="width: 12.66%; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid windowtext 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="12%">
<p style="text-align: center;"><span style="font-size: 11.0pt;">$189,158</span></p>
</td>
</tr>
<tr style="page-break-inside: avoid; height: 14.85pt;">
<td style="width: 13.92%; border-top: none; border-left: solid windowtext 1.0pt; border-bottom: solid windowtext 1.0pt; border-right: none; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="13%">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;"> </span></strong></p>
</td>
<td style="width: 10.12%; border: none; border-bottom: solid windowtext 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="10%">
<p><span style="font-size: 11.0pt;"> </span></p>
</td>
<td style="width: 12.32%; border: none; border-bottom: solid windowtext 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="12%"> </td>
<td style="width: 10.46%; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid windowtext 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="10%">
<p style="text-align: right;"><strong><span style="font-size: 11.0pt;">Total</span></strong></p>
</td>
<td style="width: 13.92%; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid windowtext 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="13%">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">$12,504,862</span></strong></p>
</td>
<td style="width: 12.66%; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid windowtext 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="12%">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">$1,912,062</span></strong></p>
</td>
<td style="width: 13.92%; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid windowtext 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="13%">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">$14,416,924</span></strong></p>
</td>
<td style="width: 12.66%; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid windowtext 1.0pt; padding: 5.75pt 5.75pt 5.75pt 5.75pt; height: 14.85pt;" width="12%">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">$358,427</span></strong></p>
</td>
</tr>
</tbody>
</table>
<p> </p>
<p>*based on 2026 property taxes</p>
<p> </p>
<p><strong>Entering into Municipal Housing Project Facility Agreements (the City’s Contribution Agreements) with TCHC</strong></p>
<p> </p>
<p>This report seeks City Council authority to enter into Contribution Agreements with TCHC for the rental homes listed in Table 2.</p>
<p> </p>
<p>The estimated total NPV of the property tax exemptions for 312 affordable rental units across the two properties owned by TCHC over the relevant affordability periods is $42.1 million, as shown in Table 2. These exemptions are not direct cash payments from the City but represent forgone revenue from the City portion of property taxes of approximately $37.3 million over the term of the affordability periods. The provincial education portion of property taxes of approximately $4.8 million will no longer be required to be remitted to the Province once the exemption takes effect. Ongoing eligibility for the property tax exemption is conditional on continued compliance with the terms and conditions of the City's Contribution Agreements over the term of the agreement.</p>
<p> </p>
<p>Table 2: Estimated Value of Property Tax Exemptions for Affordable Rental Homes in the Properties Owned by TCHC</p>
<p> </p>
<table style="width: 100.0%; border-collapse: collapse; border: none;" width="100%">
<thead>
<tr style="height: 48.35pt;">
<td style="width: 13%; border-width: 1pt; border-style: solid; border-color: windowtext black black; border-image: initial; background: #d9d9d9; padding: 5.75pt; height: 48.35pt;">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">Community Housing Provider</span></strong></p>
</td>
<td style="width: 10%; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: windowtext black black currentcolor; background: #d9d9d9; padding: 5.75pt; height: 48.35pt;">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">Address</span></strong></p>
</td>
<td style="width: 12.064%; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: windowtext black black currentcolor; background: #d9d9d9; padding: 5.75pt; height: 48.35pt;">
<p style="text-align: center;"><span style="font-size: 11.0pt;"> </span></p>
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;"># of</span></strong></p>
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">Affordable</span></strong></p>
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">Rental</span></strong></p>
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">Homes Requiring an Exemption</span></strong></p>
</td>
<td style="width: 10%; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: windowtext black black currentcolor; background: #d9d9d9; padding: 5.75pt; height: 48.35pt;">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">Property Tax Waiver Period (years)</span></strong></p>
</td>
<td style="width: 13%; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: windowtext black black currentcolor; background: #d9d9d9; padding: 5.75pt; height: 48.35pt;">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">NPV of Municipal Tax + City Building Levy</span></strong></p>
</td>
<td style="width: 12%; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: windowtext black black currentcolor; background: #d9d9d9; padding: 5.75pt; height: 48.35pt;">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">NPV of Education Tax</span></strong></p>
</td>
<td style="width: 13%; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: windowtext black black currentcolor; background: #d9d9d9; padding: 5.75pt; height: 48.35pt;">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;"> NPV of Property Tax Exemption</span></strong></p>
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;"> </span></strong></p>
</td>
<td style="width: 12%; border-width: 1pt 1pt 1pt medium; border-style: solid solid solid none; border-color: windowtext black black currentcolor; background: #d9d9d9; padding: 5.75pt; height: 48.35pt;">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">NPV of Property Tax Exemption in Year 1 of Occupancy (2026)</span></strong></p>
</td>
</tr>
</thead>
<tbody>
<tr style="page-break-inside: avoid; height: 14.85pt;">
<td style="width: 13%; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: currentcolor black windowtext; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center;"><span style="font-size: 11.0pt;">TCHC</span></p>
</td>
<td style="width: 10%; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: currentcolor black windowtext currentcolor; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center;"><span style="font-size: 11.0pt;">130 Augusta Ave.</span></p>
</td>
<td style="width: 12.064%; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: currentcolor black windowtext currentcolor; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center;"><span style="font-size: 11.0pt;">99<sup>1</sup></span></p>
</td>
<td style="width: 10%; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: currentcolor black windowtext currentcolor; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center;"><span style="font-size: 11.0pt;">99</span></p>
</td>
<td style="width: 13%; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: currentcolor black windowtext currentcolor; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center;"><span style="font-size: 11.0pt;">$10,205,123</span></p>
</td>
<td style="width: 12%; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: currentcolor black windowtext currentcolor; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center; line-height: 107%;"><span style="font-size: 11.0pt; line-height: 107%;">$1,322,810</span></p>
</td>
<td style="width: 13%; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: currentcolor black windowtext currentcolor; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center; line-height: 107%;"><span style="font-size: 11.0pt; line-height: 107%;">$11,527,932</span></p>
</td>
<td style="width: 12%; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: currentcolor black windowtext currentcolor; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center;"><span style="font-size: 11.0pt;">$174,688</span></p>
</td>
</tr>
<tr style="page-break-inside: avoid; height: 14.85pt;">
<td style="width: 13%; border-width: medium 1pt 1pt; border-style: none solid solid; border-color: currentcolor windowtext windowtext; border-image: initial; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center;"><span style="font-size: 11.0pt;">TCHC</span></p>
</td>
<td style="width: 10%; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: currentcolor windowtext windowtext currentcolor; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center;"><span style="font-size: 11.0pt;">175 Oak St.</span></p>
</td>
<td style="width: 12.064%; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: currentcolor windowtext windowtext currentcolor; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center;"><span style="font-size: 11.0pt;">213</span></p>
</td>
<td style="width: 10%; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: currentcolor windowtext windowtext currentcolor; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center;"><span style="font-size: 11.0pt;">99</span></p>
</td>
<td style="width: 13%; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: currentcolor windowtext windowtext currentcolor; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center;"><span style="font-size: 11.0pt;">$27,102,918</span></p>
</td>
<td style="width: 12%; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: currentcolor windowtext windowtext currentcolor; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center;"><span style="font-size: 11.0pt;">$3,513,137</span></p>
</td>
<td style="width: 13%; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: currentcolor windowtext windowtext currentcolor; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center;"><span style="font-size: 11.0pt;">$30,616,056</span></p>
</td>
<td style="width: 12%; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: currentcolor windowtext windowtext currentcolor; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center;"><span style="font-size: 11.0pt;">$463,940</span></p>
</td>
</tr>
<tr style="page-break-inside: avoid; height: 14.85pt;">
<td style="width: 13%; border-width: medium medium 1pt 1pt; border-style: none none solid solid; border-color: currentcolor currentcolor windowtext windowtext; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center;"><span style="font-size: 11.0pt;"> </span></p>
</td>
<td style="width: 10%; border-width: medium medium 1pt; border-style: none none solid; border-color: currentcolor currentcolor windowtext; border-image: initial; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center;"><span style="font-size: 11.0pt;"> </span></p>
</td>
<td style="width: 12.064%; border-width: medium medium 1pt; border-style: none none solid; border-color: currentcolor currentcolor windowtext; border-image: initial; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center;"> </p>
</td>
<td style="width: 10%; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: currentcolor windowtext windowtext currentcolor; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: right;"><strong><span style="font-size: 11.0pt;">Total:</span></strong></p>
</td>
<td style="width: 13%; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: currentcolor windowtext windowtext currentcolor; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">$37,308,041</span></strong></p>
</td>
<td style="width: 12%; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: currentcolor windowtext windowtext currentcolor; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">$4,835,947</span></strong></p>
</td>
<td style="width: 13%; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: currentcolor windowtext windowtext currentcolor; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">$42,143,988</span></strong></p>
</td>
<td style="width: 12%; border-width: medium 1pt 1pt medium; border-style: none solid solid none; border-color: currentcolor windowtext windowtext currentcolor; padding: 5.75pt; height: 14.85pt;">
<p style="text-align: center;"><strong><span style="font-size: 11.0pt;">$638,628</span></strong></p>
</td>
</tr>
</tbody>
</table>
<p> </p>
<p> 130 Augusta Avenue contains 103 affordable rental homes. 4 of the rental homes were previously approved for a property tax exemption through Item 2022.PH30.8.</p>
<p><strong> </strong></p>
<p><strong>Amendments to the Policy Framework for Ground Leases with Community Housing Providers</strong></p>
<p> </p>
<p>This report recommends amendments to the Policy Framework for Ground Leases with Community Housing Providers to extend the allowable term length to up to 99 years, replacing the previously approved maximum of 49 years, where appropriate based on project-specific considerations.</p>
<p> </p>
<p>If the City leased sites to community housing providers at market rates, the City would generate ground-lease revenue over the term of the agreement. By providing long-term land interests to community housing providers at below-market rates, the City forgoes potential ground rent and related market-based revenues, and some future land use flexibility, in exchange for securing long-term affordability on City-owned land and advancing the City’s affordable housing objectives.</p>
<p> </p>
<p>The Chief Financial Officer and Treasurer has reviewed this report and agrees with the financial impact information. </p> | <p>The City recognizes the important role community housing providers play in advancing its vision for housing, as set out in the HousingTO 2020-2030 Action Plan (“HousingTO Plan”), and is actively engaged in preserving affordable housing for current and future residents. Maintaining and increasing access to affordable rents is further advanced through the Community Housing Sector Modernization and Growth Strategy (“Strategy”), as adopted by City Council in June 2024.</p>
<p> </p>
<p>This report recommends approval of property tax exemptions for affordable homes within three co-operative housing sites and two properties owned by Toronto Community Housing Corporation (“TCHC”), through execution of a Municipal Housing Project Facility Agreement ("Contribution Agreement”). This will advance the goals of the Strategy related to maintaining affordability of the existing community housing stock. The City has consistently applied property tax exemptions as a financial tool to protect and expand its supply of affordable housing.</p>
<p> </p>
<p>This report will advance work on the new lease agreements for Alexandra Park Housing Co-operative (“Alexandra Park Co-op”), Beech Hall Housing Co-operative ("Beech Hall Co-op") and Stanley Knowles Housing Co-operative ("Stanley Knowles Co-op") and authorize the execution of Contribution Agreements to secure affordability of existing rental homes. To further progress work on new lease agreements, this report recommends updating the Policy Framework for Ground Leases with Community Providers to permit lease terms of up to 99 years, replacing the current maximum of 49 years. A longer maximum term gives the City greater flexibility to assess on a case by case to safeguard significant public investment in Toronto’s affordable housing stock.</p>
<p> </p>
<p>TCHC is undertaking multi-phased revitalizations of the Regent Park and Alexandra Park communities, integrating both affordable and community housing. Securing property tax exemptions for these developments is consistent with the financial benefits applied to other TCHC properties.</p>
<p> </p>
<p>Securing affordability in the existing community housing stock, through a Contribution Agreement, is a dependable approach to achieve improved housing outcomes. As a financial tool for the City, property tax exemptions provide a viable and cost-effective approach to preserve the supply of affordable rental housing in Toronto.</p> | 31 | 9 | CMMTTEE | PH | 5 - York South - Weston, 8 - Eglinton - Lawrence, 10 - Spadina - Fort York, 13 - Toronto Centre | N | … | Report | ACTION | Amended | Main | — | — | Committee | … | … | … | … | … | … | … | … | … | … | … | … | … | … | … | Decision information not found | false | Amended | — | — | 1782273600000 | — | — | — |