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InvestSmarteron Dec 13, 2024 1:48am
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December 17th Agenda Updated
December 17th Agenda Updated See below or read it yourself (On the December 17th Agenda):
https://secure.toronto.ca/council/report.do?meeting=2024.CC24&type=agenda
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CC24.16 - Advancing Phase One of the Purpose-built Rental Housing Incentives Stream
- Consideration Type:
-
- ACTION
- Wards:
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- All
Origin
(December 10, 2024) Report from the Executive Director, Housing Secretariat
Recommendations
The Executive Director, Housing Secretariat recommends that:
1. City Council receive this report for information.
Summary
On November 13-14, 2024, City Council adopted EX18.2 - Build More Homes: Expanding Incentives for Purpose Built Rental Housing report endorsing a new stream under the Rental Housing Supply Program to support purpose-built rental housing developments across the city. City Council directed staff to launch a Quick Start Call for Applications to support 7,000 new rental homes including at least 1,400 affordable rental homes, and report directly to City Council on December 17-19, 2024 with an update on the results of the Call for Applications.
The Call for Applications for Purpose-built Rental Housing Incentives stream opened on November 18 and closed on November 29, 2024. Staff are currently reviewing the applications and will prepare a report to be considered by City Council, providing an update on the Call for Applications and a summary of any applications approved.
Background Information