Item - 2025.RA20.1

The Board of Directors of CreateTO:

1. Adopted the Toronto Builds Policy Framework described in the revised report (May 1, 2025) from the Deputy City Manager, Development and Growth Services to guide the redevelopment of public land managed by Build Toronto Inc. and Toronto Port Lands Company.

2. Directed the Chief Executive Officer, CreateTO, when assessing new development and/or redevelopment opportunities on land owned by the City to first consider inclusion of the site in the Toronto Builds Portfolio to develop and/or co-locate a range of new rental housing while also considering market conditions and other City building priorities.

3. Directed the Chief Executive Officer, CreateTO, to identify City-owned sites adjacent to the sites subject to the non-bonding Memorandum of Understanding referenced in Part 14 of Council’s decision on item PH21.4 - Toronto Builds - A Policy Framework to Build More Affordable Rental Homes on Public Land, for co-development opportunities to maximize the potential for affordable housing, improved community facilities, and parkland, and to prioritize such sites for development by the Toronto Lands Corporation, in consultation with the local Councillor.

4. Requested the Chief Executive Officer, CreateTO, in consultation with the Executive Director, Housing Secretariat, and the Executive Director, Housing Development Office, to administer the market offering process for the sites referenced in Part 20 of Council’s decision on item PH21.4 - Toronto Builds - A Policy Framework to Build More Affordable Rental Homes on Public Land, and to expedite the market offerings where possible, such as through utilizing its existing pre-qualified Broker, and to select proponents and negotiate the leases and other agreements for the project (other than the City Contribution Agreement in Part 27 of Council’s decision on item PH21.4 - Toronto Builds - A Policy Framework to Build More Affordable Rental Homes on Public Land.) with them in accordance with the terms of the approved business case and market offering process.

5. Requested the Chief Executive Officer, CreateTO, the Executive Director, Housing Secretariat and Executive Director, Housing Development Office, in consultation with the Chief Financial Officer and Treasurer, to allow, as part of the market offering process described in Part 20 of Council’s decision on item PH21.4 - Toronto Builds - A Policy Framework to Build More Affordable Rental Homes on Public Land, proponents to request an indefinite deferral of development charges for the purpose-built rental housing units in the Toronto Builds Projects where proponents can demonstrate the deferral would contribute to greater affordable housing outcomes, or support achieving other policy priorities of the Toronto Builds Policy Framework, and report back to City Council with the outcome and to seek any additional authorities that may be required to provide these incentives, prior to any lease or other agreement being approved as contemplated in Parts 23 and 25 of Council’s decision on item PH21.4 - Toronto Builds - A Policy Framework to Build More Affordable Rental Homes on Public Land.

City Council on May 21 and 22, 2025, adopted Item PH21.4 as amended and, in so doing, has:

1. Requested the Board of CreateTO to consider adopting the Toronto Builds Policy Framework described in the revised report (May 1, 2025) from the Deputy City Manager, Development and Growth Services to guide the redevelopment of public land managed by its holding corporations, Build Toronto and Toronto Port Lands Corporation.

2. Directed the Deputy City Manager, Corporate Services and requested the Board of CreateTO to direct the Chief Executive Officer, CreateTO, when assessing new development and/or redevelopment opportunities on land owned by the City to first consider inclusion of the site in the Toronto Builds Portfolio to develop and/or co-locate a range of new rental housing while also considering market conditions and other City building priorities.

3. Directed the Deputy City Manager, Corporate Services and requested the Board of CreateTO to direct the Chief Executive Officer, CreateTO, to identify City-owned sites adjacent to the sites subject to the non-bonding Memorandum of Understanding referenced in Part 14 of Council’s decision, for co-development opportunities to maximize the potential for affordable housing, improved community facilities, and parkland, and to prioritize such sites for development by the Toronto Lands Corporation, in consultation with the local Councillor.

4. Requested the Chief Executive Officer, CreateTO, in consultation with the Executive Director, Housing Secretariat, and Executive Director, Housing Development Office, to administer the market offering process for the sites referenced in Part 20 of Council’s decision, and to expedite the market offerings where possible, such as through utilizing its existing pre-qualified Broker, and to select proponents and negotiate the leases and other agreements for the project (other than the City Contribution Agreement in Part 27 of Council’s decision) with them in accordance with the terms of the approved business case and market offering process.

5. Requested the Chief Executive Officer, CreateTO, the Executive Director, Housing Secretariat and Executive Director, Housing Development Office, in consultation with the Chief Financial Officer and Treasurer, to allow, as part of the market offering process described in Part 20 of Council’s decision, proponents to request an indefinite deferral of development charges for the purpose-built rental housing units in the Toronto Builds Projects where proponents can demonstrate the deferral would contribute to greater affordable housing outcomes, or support achieving other policy priorities of the Toronto Builds Policy Framework, and report back to City Council with the outcome and to seek any additional authorities that may be required to provide these incentives, prior to any lease or other agreement being approved as contemplated in Parts 23 and 25 of Council’s decision.