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Toronto Seniors Housing Corporation

The Toronto Seniors Housing Corporation (TSHC) was established by City Council in May 2021 to operate affordable rental and social housing for approximately 14,000 low and moderate-income senior households in 83 senior-designated buildings. The City of Toronto, Toronto Community Housing Corporation (TCHC) and the new TSHC are working together to implement a plan to transfer responsibility for operating TCHC’s 83 seniors-designated buildings to the new corporation on June 1, 2022. The TSHC's operations is funded in part through the City's Shelter, Support and Housing Administration Division acting as Service Manager under the Housing Services Act, 2011.

TSHC is incorporated under the Ontario Business Corporations Act, with the City of Toronto as its sole shareholder.

Board responsibilities

The board is responsible for the following:

• Issuing shares to the Shareholder;
• Establishing annual and long-range strategies and plans;
• Supervising the management of the business and affairs of the corporation;
• Establishing by-laws and policies consistent with shareholder direction and all relevant legislation;
• Establishing committees of the Board as the Board determines are appropriate, and delegating to the committees such authority as the Board determines is appropriate;
• Selecting bankers and other financial institutions and establishing all banking authorities, and appointing an auditor;
• Establishing and maintaining appropriate reserves consistent with sound financial principles and program regulations;
• Appointing the corporation's officers other than the Chair who is appointed by Council;
• Appointing the executive head, approving the terms of their employment (including compensation), establishing the executive head's performance objectives and holding them accountable for meeting their objectives;
• Appointing the Boards of Directors of any subsidiaries, and approving shareholder directions for those subsidiaries in accordance with City direction;
• Directing all labour and employee relations matters; and
• Ensuring all reporting requirements to the Shareholder are fulfilled.

Term of office

The term of office for public members is two years, and members continue to serve until their successors are appointed.

Composition

The board is composed of 9 members including:

• the Mayor or Council member designate appointed by the Mayor;
• 1 Council member from the Planning and Housing Committee or the Board of Health;
• 2 tenant directors
• 5 public members

City Council will appoint one of the public members to serve as Chair.

In addition to the members list above, for the first two years following incorporation, the Board includes the City Manager or designate sitting in an ex-officio non-voting capacity.

Qualifications

In addition to the general eligibility requirements in the Public Appointments Policy, board members should collectively represent a range of expertise including:

• Social housing delivery;
• Property management;
• Corporate governance;
• Financial management of large budgets, including reporting and audit functions;
• Organizational development;
• Labour relations;
• Business and contract law; and
• Health and/or seniors services delivery.

Meetings

Meetings are held approximately five times a year or at the call of the Chair.

Remuneration

• All public members receive $500 per meeting attended, to an annual maximum of $10,000.
• Public members also receive an annual stipend of $2,500, except for the Chair who receives an annual stipend of $20,000.

Related links

• Toronto Seniors Housing Corporation Transition Information Site
• City Council decision regarding the creation of the Toronto Seniors Housing Corporation
• City Council decision regarding the Toronto Seniors Housing Corporation Board of Directors