Item - 2025.MM34.23

City Council on November 12 and 13, 2025, adopted the following:

1. City Council authorize an exemption from taxation for municipal and school purposes for the affordable rental, rent supplement and rent-controlled homes to be developed by 1117 Danforth Development NP at 1117 Danforth Avenue, starting from the later of the date the tax exemption by-law is enacted and the date the agreement referenced in Part 4 below is executed and continuing until the end of the 99 year affordability period, as set out in the municipal housing facility agreement.

2. City Council authorize the Deputy Treasurer to cancel or refund any taxes paid after the effective date of the exemption from taxation for municipal and school purposes as set out in the applicable municipal housing facility agreement

3. City Council authorize the Executive Director, Housing Development Office to provide an additional $48,370.01 in capital funding to 1117 Danforth Development NP to reimburse taxes previously paid during the period of construction for the development at 1117 Danforth Avenue.

4. City Council authorize the Executive Director, Housing Development Office to execute, on behalf of the City, an agreement to amend the existing municipal housing facility agreement between the City and 1117 Danforth Development NP to provide for an exemption from taxation for municipal and school purposes for the affordable rental, rent supplement and rent-controlled homes to be developed by 1117 Danforth Development NP at 1117 Danforth Avenue during the period of construction, in addition to during the affordability period.