Item - 2018.CD25.2

The Community Development and Recreation Committee recommends that:

1. City Council acting as Service Manager under the Housing Services Act, 2011 (HSA), pursuant to subsection 161 (2) of the HSA, provide consent for:

a.  the transfer by Toronto Community Housing Corporation (TCHC) of legal title to Part 1 and Part 2 on Plan 66R-29296 to Vivo Residences Inc. (Vivo) as bare trustee on behalf of TCHC and the Allenbury Gardens Revitalization General Partnership (the Partnership);

b.  the transfer by TCHC of the beneficial interest in Part 1 and in part of the below grade portion of Part 2,  Plan 66R-29296 (collectively the "Market Block") to the Partnership;

subject to the following conditions:

i.  TCHC shall reimburse the Service Manager for all provincial housing costs attributable to the Market Block that the Service Manager shall be responsible for pursuant to the Housing Services Act, 2011;

ii.  TCHC shall have advised the General Manager, Shelter, Support and Housing Administration, of the proposed closing date and undertakes to advise the General Manager, Shelter, Support and Housing Administration, of any extension of the closing date or dates for such sale;

iii.  TCHC shall provide the General Manager, Shelter, Support and Housing Administration, with details of the transfers to Vivo and to the Partnership within ten (10) days of closing, including copies of all registered transfers, declarations of trust, trust agreements and the relevant parcel registers, so that the General Manager, Shelter, Support and Housing Administration, may apply to the Province to advise Canada Mortgage and Housing Corporation of the sale and removal of the Market Block from the social housing portfolio;

iv.  TCHC shall use the net financial proceeds to fund a portion of the cost of construction for the replacement social housing in Allenbury Gardens Phase 2a; and

v.  such other conditions that the General Manger, Shelter, Support and Housing Administration, considers reasonable and necessary to carry out the recommendations adopted by Council.

2.  City Council authorize the General Manager, Shelter, Support and Housing Administration, to:

a.  advise the Minister of Housing pursuant to section 163 of the Housing Services Act, 2011 (HSA) of the consent provided to the transfer of the Market Block to Vivo and to request that these lands be removed from the social housing portfolio;

b.  provide as required Service Manager consent pursuant to subsection 161 (2) of the HSA on terms and conditions satisfactory to the General Manager, Shelter, Support and Housing Administration, and in a form satisfactory to the City Solicitor, to any construction financing proposed by or on behalf of Vivo;

c.  provide as required Service Manager consent pursuant to subsection 161 (2) of the HSA on terms and conditions satisfactory to the General Manager, Shelter, Support and Housing Administration, and in a form satisfactory to the City Solicitor, to future transfers of the Market Block by or on behalf of Vivo pending the removal of the Market Block from the social housing portfolio; and

d.  provide as required Service Manager consent pursuant to subsection 161 (2) of the HSA on terms and conditions satisfactory to the General Manager, Shelter, Support and Housing Administration, and in a form satisfactory to the City Solicitor, to the re-transfer to Toronto Community Housing Corporation by or on behalf of Vivo of Part 2 and that part of the below grade portion of Part 2 not transferred to the Partnership (collectively the "Retained Lands").

3.  City Council authorize the General Manager, Shelter, Support and Housing Administration, to provide, on behalf of the City, acting as Service Manager under the Housing Service Act, 2011 (HSA), consents pursuant to subsection 161 (2) of the HSA to transfers by Toronto Community Housing Corporation in the future as part of the redevelopment of Allenbury Gardens, consistent with the prior redevelopment decisions by City Council, on terms and conditions satisfactory to the General Manager, Shelter, Support and Housing Administration, and in a form satisfactory to the City Solicitor.

Toronto Community Housing Corporation (TCHC) has embarked on a two-phase plan for the revitalization of its Allenbury Gardens community. TCHC is halfway through the revitalization that will replace 127 existing Rent-Geared-to-Income (RGI) units and develop approximately 900 market units. Phase 2 includes 97 of the replacement RGI units, comprised of 28 townhouse units and 69 apartment units, as well as close to 500 market units. TCHC will use the proceeds from the sale of land and market-priced units during the revitalization to help cover the cost of replacement social housing units.

As part of the Phase 2 revitalization, on October 31, 2017, TCHC submitted a request to Shelter, Support and Housing Administration (SSHA) for consent to transfer lands in connection with the redevelopment. TCHC is proposing that lands identified as Part 1 and Part 2 on Plan 66R-29296 be transferred to Vivo Residences Inc. in order to obtain third party construction financing to commence demolition of the existing buildings and construction of the rental and market housing. The request has no financial implications to the City.

This report recommends that City Council as Service Manager grant consent for the transfer of selected TCHC properties to Vivo Residences Inc. as part of Phase 2 of the Council-approved Allenbury Gardens Revitalization and authorize the General Manager, SSHA, as Service Manager to provide the necessary consents for future transfers associated with the Allenbury Gardens Revitalization.