Item - 2023.TE8.41

The Toronto and East York Community Council:

1. Deferred consideration of the item until the November 15, 2023 meeting of the Toronto and East York Community Council.

Ward 11 has a pressing need for funds for affordable housing.

For Ward developments approved under the Planning Act between 1988 and 2013, the City has, for many years, held s. 37 funds that were not used for the purposes identified in their respective zoning bylaws. In some cases, an intended purpose was achieved years ago without requiring the entire allocated sum. In other cases, the original purpose is no longer in Ward 11, did not proceed, or is impractical or inappropriate.

No community benefit is provided by holding s. 37 funds from these old bylaws in the City’s bank account year after year while they lose much of their purchasing power.

In the last decade, s. 37 bylaws contained a provision authorizing reallocation of the funds if they are not used for the originally intended purpose within three years of the bylaw. This avoids waste by allowing precious public funds to be reallocated to current priorities. However, zoning bylaws from 2013 and earlier did not contain this provision. Amending them now will allow long-dormant funds to be put to use for climate smart affordable housing within Ward 11.

This motion directs staff to bring forward a City-initiated Zoning By-law Amendment to the first possible Toronto and East York Community Council meeting for a statutory public meeting to amend the zoning by-laws identified in Attachment 1 to the motion to reallocate dormant funds to climate smart affordable housing and TTC Station improvements within Ward 11, and to update the terms of the bylaws.