Item - 2020.MM22.10
Tracking Status
- City Council adopted this item on June 29 and 30, 2020 without amendments.
MM22.10 - Use of Section 37 Funds for Renovation and Modernization of Affordable Rental Homes at 25 Leonard Avenue - by Councillor Mike Layton, seconded by Councillor Joe Cressy
- Decision Type:
- ACTION
- Status:
- Adopted
- Ward:
- 11 - University - Rosedale
City Council Decision
City Council on June 29 and 30, 2020, adopted the following:
1. City Council authorize the Executive Director, Housing Secretariat to provide $102,250 in funding, inclusive of HST and disbursements, from the Capital Revolving Reserve Fund for Affordable Housing (Source Account: XR1058) to St. Clare's Multifaith Housing Society to support the modernization of the existing 77 social housing units and the creation of 22 new affordable rental units at 25 Leonard Avenue in Ward 11, fully funded from the following development:
a. 1-11 Bloor Street West, 768-784 Yonge Street, and 760-762 Yonge Street, secured for the procurement, design and construction of new affordable housing facilities, in the amount of $102,250.00 (Source Account: 22096).
2. City Council increase the Approved 2020 Operating Budget for Shelter, Support and Housing Administration, by $102,250 gross, $0 net, in coordination with the Executive Director, Housing Secretariat, for affordable housing at 25 Leonard Avenue funded from the Capital Revolving Reserve Fund for Affordable Housing (XR1058) subject to the following conditions:
a. the transfer of the designated funds from XR3026 to XR1058; and
b. St. Clare's Multifaith Housing Society signing an agreement which governs the use of the funds and the financial reporting requirements.
Background Information (City Council)
Motions (City Council)
Speaker Nunziata advised Council that the provisions of Chapter 27, Council Procedures, require that Motion MM22.10 be referred to the Executive Committee. A two-thirds vote of the Council Members present is required to waive referral.