Item - 2025.MM32.4

City Council on July 23 and 24, 2025, adopted the following:

1. City Council amend its previous decision on Item 2025.PH21.9 by:

a. amending the lead-in paragraph of Part 1 by adding the words “or a building that will transition to affordable rental housing” after the words "affordable rental housing building”, so that Part 1 now reads as follows:

1. City Council increase the 2025-2034 Capital Budget and Plan for the Housing Secretariat by $1,500,000.00, for the purpose of funding the purchase of an affordable rental housing building, or a building that will transition to affordable rental housing, in Ward 4 - Parkdale-High Park, fully funded by Section 37 community benefits from the following developments in Ward 4 - Parkdale-High Park:

a. $205,966.27 from 403 Keele Street (Source Account: XR3026-3701131);

b. $478,208.82 from 2706, 2708, 2710, 2720, and 2730 Dundas Street West (Source Account: XR3026-3701159); and

c. $815,824.91 from 1182-1221 King Street West (Source Account: XR3026-3701180).

b. amending Part 3 by adding the words “or a building that will transition to affordable rental housing” after the words "affordable rental housing building”, so that Part 3 now reads as follows:

3. City Council authorize the Executive Director, Housing Secretariat to provide the funding, inclusive of Harmonized Sales Tax and disbursements, to Housing Opening Today Toronto Inc. to support the purchase of an affordable rental housing building, or a building that will transition to affordable rental housing, in Ward 4 - Parkdale-High Park, subject to the funds being secured through an agreement as set out in Part 2 above.