Item - 2024.RA14.3
Tracking Status
- This item was considered by CreateTO on October 29, 2024 and was adopted without amendment.
RA14.3 - CreateTO 2025 Operating Budget
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
Board Decision
The Board of Directors of CreateTO:
1. Approved CreateTO's 2025 Operating Budget.
2. Directed the Chief Executive Officer, CreateTO to submit the budget to the City of Toronto as part of the 2025 budget process.
Origin
Summary
As the City of Toronto’s real estate agency, CreateTO applies a strategic city-wide lens to Toronto’s real estate holdings, develops City buildings and lands for municipal purposes and delivers real estate solutions to advance City Council’s key public policy goals and meet the program needs of City Divisions, Agencies and Corporations (DACs).
CreateTO is a self-sustaining agency and submits a net zero budget to the City of Toronto. Through its managed companies Build Toronto and Toronto Port Lands Company, sufficient revenue is generated to fulfil the operating requirements of CreateTO.
The resources supported by the 2025 CreateTO Operating Budget will be deployed to help address some of the city’s most pressing challenges, from building affordable homes and inclusive communities, to creating cultural and employment opportunities, driving economic prosperity, achieving our climate goals, and increasing our collective quality of life.
Background Information
https://www.toronto.ca/legdocs/mmis/2024/ra/bgrd/backgroundfile-249604.pdf