Item - 2024.MM18.7
Tracking Status
- City Council adopted this item on May 22, 2024 with amendments.
MM18.7 - Authorization to Release Section 37 Funds to Support The Elizabeth Fry Society at 215 Wellesley Street East - by Councillor Chris Moise, seconded by Councillor Gord Perks
- Decision Type:
- ACTION
- Status:
- Amended
- Ward:
- 13 - Toronto Centre
City Council Decision
City Council on May 22 and 23, 2024, adopted the following:
1. City Council authorize the Executive Director, Housing Secretariat, subject to Part 3 below, to provide $500,000 in funding, inclusive of Harmonized Sales Tax and disbursements to the Elizabeth Fry Society, Toronto Branch to support the affordable housing development at 215 Wellesley Street East to contain 48 new units of affordable housing, fully funded from the following developments:
a. 603-611 Sherbourne Street, 4-6 Howard Street, secured for capital improvements to new and/or existing affordable housing in the amount of $192,956.04 (Source Account: XR3028-4500245);
b. 387-403 Bloor Street East and 28 Selby Street, secured for the capital improvement of existing or the creation of new affordable housing in the amount of $6,492.71 (Source Account: XR3026-3700895); and
c. 203 Jarvis Street, secured to improve new or existing affordable housing in the amount of $300,551.25 (Source Account: XR3026-3701113).
2. City Council authorize the Executive Director, Housing Secretariat to negotiate and execute on behalf of the City an amendment to the City’s existing agreement with The Elizabeth Fry Society, Toronto Branch under the Rapid Housing Initiative, to secure the financial assistance being provided, on terms and conditions satisfactory to the Executive Director, Housing Secretariat, and in a form acceptable to the City Solicitor.
3. City Council increase the 2024 Operating Budget for Housing Secretariat by $500,000 gross, $0 net, to be payable to the Elizabeth Fry Society, Toronto Branch, subject to the funds being secured through an agreement as set out in Part 2 above.
4. City Council direct that the use of Section 37 community benefits be prominently recognized in documents and promotional materials, including on any construction hoarding, in consultation with the Ward Councillor as a requirement within the Undertaking between the City and the Elizabeth Fry Society.
Background Information (City Council)
https://www.toronto.ca/legdocs/mmis/2024/mm/bgrd/backgroundfile-245720.pdf
(May 23, 2024) Fiscal Impact Statement from the Chief Financial Officer and Treasurer
https://www.toronto.ca/legdocs/mmis/2024/mm/bgrd/backgroundfile-246052.pdf
Motions (City Council)
Speaker Nunziata advised Council that the provisions of Chapter 27, Council Procedures, require that Motion MM18.7 be referred to the Executive Committee. A two-thirds vote of the Council Members present is required to waive referral.
That
1. City Council amend Recommendations 1 by deleting the words "from the Capital Revolving Reserve Fund for Affordable Housing (Source Account: XR1058)" from Recommendation 1, so that it reads as follows:
1. City Council authorize the Executive Director, Housing Secretariat, subject to Recommendation 3 below, to provide $500,000 in funding, inclusive of Harmonized Sales Tax and disbursements from the Capital Revolving Reserve Fund for Affordable Housing (Source Account: XR1058) to The Elizabeth Fry Society, Toronto Branch to support the affordable housing development at 215 Wellesley Street East to contain 48 new units of affordable housing, fully funded from the following developments:
a. 603-611 Sherbourne Street, 4-6 Howard Street, secured for capital improvements to new and/or existing affordable housing in the amount of $192,956.04 (Source Account: XR3028-4500245);
b. 387-403 Bloor Street East and 28 Selby Street, secured for the capital improvement of existing or the creation of new affordable housing in the amount of $6,492.71 (Source Account: XR3026-3700895); and
c. 203 Jarvis Street, secured to improve new or existing affordable housing in the amount of $300,551.25 (Source Account: XR3026-3701113).
2. City Council amend Recommendation 3 by deleting the words "the following conditions" and deleting Recommendation 3.a. so that it reads as follows:
3. City Council increase the 2024 Operating Budget for Housing Secretariat by $500,000 gross, $0 net, to be payable to The Elizabeth Fry Society, Toronto Branch, subject to the following conditions:
a. the transfer of the designated funds from (Source Accounts: XR3028-4500245, XR3026-3700895 and XR3026-3701113) to (Source Account: XR1058); and
b. the funds being secured through an agreement as set out in Recommendation 2 above.