Motion by Councillor Vaughan on item EX17.1

Revised:  4:15PM  Councillor Vaughan's motion was revised since it was first posted.

Councillor Adam Vaughan has has made the following motions on item EX17.1, regarding the sale of TCHC houses.

1b - Motion to Amend Item moved by Councillor Adam Vaughan (Final)
That City Council amend Executive Committee Recommendation 12.b.iii. by adding the words "at fair or" so that the recommendation now reads:

12.b.ii. a review of the interest and capacity of charitable and non-profit organizations to purchase any of the properties, at fair or at market value, to be operated as affordable housing.

That City Council amend Executive Committee Recommendations 10.a and 12.b.iii. by adding the words "at fair or" so that the recommendations now read:
 

10.a initiate a process to solicit interest for the purchase of the stand-alone properties listed in Appendix A of the report (January 10, 2012) from the City Manager and General Manager, Shelter, Support and Housing Administration, at fair or at market value from social housing providers, charitable, non-profit and community agencies that deliver housing to low-income and vulnerable populations within Toronto;

12.b.ii. a review of the interest and capacity of charitable and non-profit organizations to purchase any of the properties, at fair or at market value, to be operated as affordable housing.

1a - Motion to Amend Item moved by Councillor Adam Vaughan (Final)


That City Council amend Executive Committee Recommendation 1.a by replacing the word "in" with the words "with 50 percent to be allocated towards" and by adding the words "and with 50 percent to be allocated towards community renewal initiatives", so that Recommendation 1.a now reads as follows:

1.a. prior to the sale of any properties, TCH provide a plan, satisfactory to the General Manager, Shelter, Support and Housing Administration, and the Deputy City Manager and Chief Financial Officer, for the administration and use of the proceeds of any sales of stand-alone units, net of reasonable transaction costs with 50 percent to be allocated towards the state of good repair of existing social housing units, consistent with its Real Estate Investment Strategy – "Housing Works; and with 50 percent to be allocated towards community renewal initiatives.