Item - 2019.MM8.43
Tracking Status
- City Council adopted this item on June 18 and 19, 2019 without amendments.
MM8.43 - 14 Spadina Road - Authorization to Release Section 37 Funds from Various Developments to Wigwamen Incorporated for the Creation of New Affordable Housing - by Councillor Mike Layton, seconded by Joe Cressy
- Decision Type:
- ACTION
- Status:
- Adopted
- Ward:
- 11 - University - Rosedale
City Council Decision
City Council on June 18 and 19, 2019, adopted the following:
1. City Council increase the approved 2019 Operating Budget of Shelter, Support and Housing Administration (XR1058) on a one-time basis by $475,000.00 gross, $0 net, for transfer to Wigwamen Incorporated for the provision of new affordable housing units at 14 Spadina Road, fully funded by Section 37 community benefits in the following developments:
a. 50-60, 62 and 64 Charles Street East and 47 and 61 Hayden Street, secured for the purpose of maintaining and constructing affordable rental housing units in Ward 27 in the amount of $410,014.91 (source account XR3026-3700669); and
b. 4, 6 and 8 St. Thomas Street and 100-110 Charles Street West, secured for affordable housing, in the amount of $ 64,985.09 (source account XR3026-3700642).
Background Information (City Council)
https://www.toronto.ca/legdocs/mmis/2019/mm/bgrd/backgroundfile-134899.pdf
(June 19, 2019) Fiscal Impact Statement from the Chief Financial Officer and Treasurer
https://www.toronto.ca/legdocs/mmis/2019/mm/bgrd/backgroundfile-135037.pdf
Motions (City Council)
That Councillor Mike Layton be permitted to add to the agenda of today's meeting an urgent Motion without Notice concerning:
14 Spadina Road - Authorization to Release Section 37 Funds from Various Developments to Wigwamen Incorporated for the Creation of New Affordable Housing
Reason for Urgency:
This Motion is urgent as funds are required to develop affordable rental housing units at 14 Spadina Road.