Item - 2021.MM30.19
Tracking Status
- City Council adopted this item on March 10, 2021 with amendments.
MM30.19 - Support for New Non-Profit Affordable Housing on City Lands at 25 Bellevue Avenue - Section 37 Funds for Pre-Development Work - by Councillor Mike Layton, seconded by Councillor Joe Cressy
- Decision Type:
- ACTION
- Status:
- Amended
- Ward:
- 11 - University - Rosedale
City Council Decision
City Council on March 10, 2021, adopted the following:
1. City Council authorize the Executive Director, Housing Secretariat to negotiate, enter into and execute, on behalf of the City, agreements or other documents with such environmental, engineering, planning and financial or other consultants, community agencies, professionals, private entities and/or individuals deemed necessary to conduct the pre-development investigations and due diligence considered necessary to ensure a successful, competitive affordable housing proposal call to identify a non-profit developer and operator with respect to the City-owned property at 25 Bellevue Avenue, or work with the Executive Director, CreateTO for CreateTO to procure these pre-development and due diligence services, on terms and conditions satisfactory to the Executive Director, Housing Secretariat, and in a form satisfactory to the City Solicitor.
2. City Council authorize the Executive Director, Housing Secretariat to pay for the services obtained through Part 1 above from the Capital Revolving Reserve Fund for Affordable Housing (XR1058), to a maximum of $150,000.00 inclusive of the Harmonized Sales Tax and disbursements, fully funded from the development at 126 and 128 Hazelton Avenue secured capital improvements for new or existing affordable housing, in the amount of $150,000 (Source Account: XR3026-3700969).
3. Pursuant to Part 2 above, City Council authorize the transfer of $150,000 from the Section 37 Reserve Fund (Source Account: XR3026-3700969) to the Capital Revolving Reserve Fund for Affordable Housing (XR1058).
4. City Council amend the Approved 2021-2030 Capital Budget and Plan for Housing Secretariat through an increase of $150,000 in the project cost and 2021 cash flow for the Rental Development Project, to support the pre-development work at 25 Bellevue Avenue fully funded from the Capital Revolving Reserve Fund for Affordable Housing (XR1058).
Background Information (City Council)
Motions (City Council)
Speaker Nunziata advised Council that the provisions of Chapter 27, Council Procedures, require that Motion MM30.19 be referred to the Planning and Housing Committee. A two-thirds vote of the Council Members present is required to waive referral.
That:
1. City Council delete Recommendation 3:
Recommendation to be deleted
3. City Council increase the Approved 2021 Operating Budget for Shelter, Support and Housing Administration, by $150,000 gross, $0 net, in coordination with the Executive Director, Housing Secretariat, for affordable housing at 25 Bellevue Avenue funded from the Capital Revolving Reserve Fund for Affordable Housing (XR1058) subject to the transfer of the designated funds from XR3026 to XR1058.
and adopt instead the following new Recommendation 3:
3. Pursuant to Recommendation 2 above, City Council authorize the transfer of $150,000 from Section 37 Reserve Fund (Source Account: XR3026-3700969) to the Capital Revolving Reserve Fund for Affordable Housing (XR1058).
2. City Council adopt the following new Recommendation:
City Council amend the Approved 2021-2030 Capital Budget and Plan for Housing Secretariat through an increase of $150,000 in the project cost and 2021 cash flow for the Rental Development Project, to support the pre-development work at 25 Bellevue Avenue fully funded from the Capital Revolving Reserve Fund for Affordable Housing (XR1058).