Item - 2025.MM28.43

City Council on March 26 and 27, 2025, adopted the following:

1. City Council authorize the Executive Director, Housing Secretariat, to negotiate, enter into, and execute on behalf of the City, a municipal facility agreement (the “Contribution Agreement”), with Naismith Non-Profit Housing Co-operative to set out the terms of the operation of 32 new affordable rental housing units located at 1555-1575 Queen Street East, on terms and conditions satisfactory to the Executive Director, Housing Secretariat, in a from approved by the City Solicitor.

2. City Council authorize the Executive Director, Housing Secretariat, to enter into a funding agreement with the Co-operative Housing Federation of Toronto to provide up to $150,000 in funding to support eligible legal, administrative and other costs incurred by Co-operative Housing Federation of Toronto in undertaking this transaction, on the terms and conditions set out in Attachment 1 to Member Motion MM28.43 in a form satisfactory to the City Solicitor.

3. City Council authorize the Executive Director, Corporate Real Estate Management, or designate, in consultation with the Executive Director, Housing Secretariat, to negotiate, approve and execute, on behalf of the City, a long-term lease for the 32 city-owned units at 1555-1575 Queen Street East, and related agreements with the Naismith Non-Profit Housing Co-operative substantially on the major terms and conditions set out in Confidential Attachment 1 to this Motion and such other terms as deemed appropriate by the Executive Director, Corporate Real Estate Management and the Chief Procurement Officer, and such other terms as deemed appropriate by the Executive Director, Corporate Real Estate Management, in consultation with Executive Director, Housing Secretariat, and in a form satisfactory to the City Solicitor.

4. City Council consider the lease referenced in Part 3 above to be in the interests of the City.

5. City Council direct that Confidential Attachment 1 to Member Motion MM28.43 remain confidential as it pertains to a proposed or pending acquisition or disposition of land by the City of Toronto.

6. City Council authorize the public release of Confidential Attachment 1 to Member Motion MM28.43 following the completion of the transactions contemplated in this motion, at the discretion of the Executive Director, Corporate Real Estate Management.

Confidential Attachment 1 to Member Motion MM28.43 remains confidential at this time in accordance with the provisions of the City of Toronto Act, 2006, as it pertains to a proposed or pending acquisition or disposition of land by the City of Toronto. Confidential Attachment 1 to Member Motion MM28.43 will be made public following the completion of the transactions contemplated in this motion, at the discretion of the Executive Director, Corporate Real Estate Management.