Item - 2024.MM22.19
Tracking Status
- City Council adopted this item on October 9 and 10, 2024 without amendments.
MM22.19 - Authorization to Allocate Funding to the Strategic Acquisition of 1641 Queen Street East for Affordable Housing - by Councillor Brad Bradford, seconded by Councillor Gord Perks
- Decision Type:
- ACTION
- Status:
- Adopted
- Ward:
- 19 - Beaches - East York
City Council Decision
City Council on October 9 and 10, 2024, adopted the following:
1. City Council increase the 2024-2034 Capital Budget and Plan for Corporate Real Estate Management by the amount identified in Confidential Attachment 1 to Member Motion MM22.19, funded from the Land Acquisition Reserve Fund (XR1012), to support the fee simple acquisition of 1641 Queen Street East for the purposes of enhancing the adjacent City-owned property at 1631 Queen Street East to create new affordable housing units.
2. City Council direct that Confidential Attachment 1 to Member Motion MM22.19 remain confidential at this time, as it pertains to a position, plan, procedure, criteria or instruction to be applied to any negotiations carried on or to be carried on by or on behalf of the City.
3. City Council authorize the public release of Confidential Attachment 1 to Member Motion MM22.19 following the closing of any purchase transaction, as confirmed by the Executive Director, Corporate Real Estate Management.
Confidential Attachment - A position, plan, procedure, criteria or instruction to be applied to any negotiations carried on or to be carried on by or on behalf of the City.
Background Information (City Council)
https://www.toronto.ca/legdocs/mmis/2024/mm/bgrd/backgroundfile-249193.pdf
Confidential Attachment 1
Motions (City Council)
Speaker Nunziata advised Council that the provisions of Chapter 27, Council Procedures, require that Motion MM22.19 be referred to the Executive Committee. A two-thirds vote of the Council Members present is required to waive referral.