Item - 2010.CD35.7

The Community Development and Recreation Committee recommends that:

1.         City Council approve the sale by Toronto Community Housing Corporation (TCHC) of each of the five houses, as listed in Appendix A to the report (August 6, 2010) from the General Manager, Shelter, Support and Housing Administration, on the open market through the multiple listing service, in its capacity as Shareholder, pursuant to section 6.3.1(b) of the Shareholder Direction, on condition that:

a.         TCHC invests the proceeds of the sale net of reasonable transaction costs, in the renovation of existing social housing units or the creation of new units, consistent with its Housing Works Strategy as outlined in the Community Management Plan 2010-2012;

and subject to:

b.         approval from the Ministry of Municipal Affairs and Housing and Canada Mortgage and Housing Corporation.

2.         City Council authorize the General Manager, Shelter, Support and Housing Administration, to amend the TCHC Operating Agreement to adjust funding and service level obligations as a result of the sale and enter into any agreements and ancillary documentation deemed appropriate in connection with the sale of the houses on terms and conditions satisfactory to the General Manager and in a form satisfactory to the City Solicitor.

The purpose of this report is to request Council to consent to the sale by Toronto Community Housing Corporation (TCHC) of five single family houses, in accordance with the City’s Shareholder Direction.

TCHC’s Housing Works Strategy identified 47 houses in the single family portfolio to be sold.  In May 2010, Council consented to the sale by TCHC of 20 of these single family homes to Wigwamen Inc.  TCHC initiated a process to solicit expressions of interest in the remaining 27 single family homes from community agencies that deliver housing and support services to low-income or vulnerable populations in Toronto.  Discussions are underway between TCHC and community social agencies that have expressed an interest in acquiring 22 of the properties.  This report deals with the proposed sale on the open market of the remaining five houses, as described in Appendix A, that no agency has expressed interest in acquiring.