Item - 2012.EX15.2

City Council on February 6 and 7, 2012, adopted the following:

1.         City Council approve the funding allocations and program principles for the Investment in Affordable Housing ("IAH") program substantially as outlined in Attachment 1 to the report (January 6, 2012) from the General Manager, Shelter, Support and Housing Administration and the Director, Affordable Housing Office, as amended below, and authorize the General Manager, in consultation with the Director of the Affordable Housing Office, to submit the required Program Delivery and Fiscal Plan to the Ministry of Municipal Affairs and Housing based on these principles and allocations, with Attachment 1 amended by deleting the planned commitments and replacing them with the following new planned commitments:

Housing Allowances: $53.2 million (52%)

Toronto Renovates: $11.2 million (11%)

New affordable rental housing: $32 million (31%)

Affordable home ownership: $6.6 million (6%)

Total program funding: $103 million; and

2.         City Council authorize the General Manager, in consultation with the Director of the Affordable Housing Office, to enter into an administration agreement and/or related agreement(s) with the Ministry of Municipal Affairs and Housing or related entity necessary for the receipt and expenditure of funding under the IAH program and to undertake appropriate measures as the program proceeds to adjust program parameters, recipients, and year end funding among program components as required to ensure full and effective use of available federal/provincial funds, on such terms and conditions as are satisfactory to the General Manager, Shelter, Support and Housing Administration, in consultation with the Director, Affordable Housing Office, and in a form approved by the City Solicitor.

3.         City Council authorize the General Manager, Shelter, Support and Housing Administration, and/or the Director, Affordable Housing Office, as appropriate, to enter into agreements with the provincial government, other City divisions including Toronto Employment and Social Services, community agencies, private entities and/or individuals to deliver the IAH program in accordance with the terms and conditions of the Province's program guidelines and the approved allocations on terms and conditions satisfactory to the General Manager or the Director and in a form approved by the City Solicitor.

4.         City Council authorize the Director, Affordable Housing Office, to enter into agreements with Toronto Community Housing Corporation to allocate $16.4 million in funding under the New Affordable Rental Housing Component, and $3.3 million of the $6.6 million in total funding under the Affordable Homeownership Component, as approved by Council, on such terms and conditions as are satisfactory to the Director, Affordable Housing Office, and in a form approved by the City Solicitor.

5.         City Council inform the Minister of Municipal Affairs and Housing that the City will not fund any affordable housing programs funded under the IAH after the expected expiry of federal/provincial funding under the IAH.

6.         City Council reiterate the request to the federal and provincial governments to provide long-term and sustainable funding for affordable housing programs in the City of Toronto.

7.         i.          City Council authorize the Director, Affordable Housing Office, to enter into agreements with Medallion Corporation or a subsidiary of Medallion Corporation for the construction of 148 units of new affordable housing through an allocation of $15.6 million under the New Affordable Rental Housing Component, on whole or part of the property currently known as 3415 Weston Road/2435 Finch Avenue West;

ii.         City Council, consistent with the September 30 October 1, 2009 City Council decision on recommended affordable housing projects, exempt the new affordable housing units developed at 3415 Weston Road/2435 Finch Avenue West from taxation for municipal and school purposes for the term of the municipal capital facility agreement and from the payment of development charges; and

iii.     City Council request the Province of Ontario, on a priority basis, to allocate any additional federal/provincial Investment in Affordable Housing Program funding to the Medallion Corporation for the remaining 212 units which were recommended to the province by Council at the meeting of September 30, October 1, 2009.

8.                  City Council direct the General Manager, Shelter, Support and Housing Administration, and Director, Affordable Housing Office, to report to the Executive Committee and City Council on any further implications relating to the Investment in Affordable Housing program, as required, and to report back on the results of the program with a particular regard to the Residential Rehabilitation Assistance Program/Toronto Renovates shortfall.

9.         City Council direct the General Manager, Shelter, Support and Housing Administration, and the Director of the Affordable Housing Office to report to the Budget Committee annually on program funding allocations, and provide an update on the need to alter funding from the allocations proposed in Attachment 1 to the report (January 6, 2012) from the General Manager, Shelter, Support and Housing Administration and the Director, Affordable Housing Office, as part of the annual budget process and to address, in particular, the Residential Rehabilitation Assistance Program/Toronto Renovates needs.

10.       City Council direct the General Manager, Shelter, Support and Housing Administration, and the Director, Affordable Housing Office, to report to the Budget Committee with the details of the 2012 funding allocations and the administration cost including the impacts on the 2012 Approved Operating Budgets for Shelter, Support and Housing Administration and on the Affordable Housing Office, once the details have been identified.

11.       City Council request the General Manager, Shelter, Support and Housing Administration and the Director, Affordable Housing Office to report to the Affordable Housing Committee on the Rent Allowance Program on a yearly basis.