Mayor and Executive Committee Back Limited Sale of TCHC Homes
Toronto Mayor Rob Ford called it "a great beginning" as city council's executive committee unanimously approved a report on the sale of single-family TCHC homes, recommending the city only get rid of a handful of the houses.
Councillor Ana Bailao chaired the working group behind the report, which was ordered by council earlier this year, and recommended selling just 55 of 619 homes to raise money for repairs.
Mayor Ford had previously supported a much larger sale of TCHC properties, but told Bailao on Tuesday that her report had his support.
"Is it perfect? No. But at least we're trying. We're not talking about it, we're doing something," said Ford. "There's not one councillor down here (at city hall) that doesn't want to help the people out in Toronto Community Housing."
The sale is expected to generate just over $35 million, which, combined with other sources of revenue, will create $120 million to pay for the costs of more than $750 million worth of repairs.
The $120 million would also come from the previously approved sale of 56 homes, the sale of 100 homes to tenants that will be offered help, and finding $10 million in other efficiencies across TCHC.
38 of the 55 homes to be sold are occupied and are located across the city.
The report is now expected to go to city council for final approval later this month.