1. From Devolution to Evolution Developing Affordable Housing in the 21 st Century in Toronto SEAN GADON, DIRECTOR AFFORDABLE HOUSING OFFICE, CITY OF TORONTO MARCH 31, 2016 PRESENTATION TO NON-PROFIT HOUSING PROVIDERS REACHING THE END OF OPERATING AGREEMENTS

2. Power of Affordable Housing

3. City of Toronto Affordable Housing Targets The City of Toronto is committed to creating affordable housing in all neighbourhoods. Annual Targets 1,000 supportive housing opportunities 1,000 affordable rental homes 400 affordable ownership home

4. Incentives Available to Create and Operate Affordable Rental Housing City Funding – Development Charge Reserve Fund Rent supplements and housing allowances Planning fee waivers Building permit fee waivers Development charge waivers Property tax exemptions (25 years) Federal and Provincial program funding

5. City, Provincial and Federal Support The stars are aligned Toronto’s Open Door Program Provincial 2016 Budget and Long Term Affordable Housing Strategy Federal 2016 Budget and commitment for a National Housing Strategy

6. Ingredients for Success Vision Opportunity Expertise Development plan Money (funding/financing) Sustainability

7. New Development Challenges and Reality 1.Risk assumed by non-profit organizations 2.Limited operating program funding to lower rents 3.Rents are set at 80% CMHC average 4.Funding prioritized for shovel ready projects and strategic investments

8. Some Recent Examples 1.Building on Government Land 2.Inclusionary Developments 3.Converting Existing Buildings

9. 1. Building on Government Land City Place Block 36 North, Railway Lands

10. 2. Inclusionary Developments 153-163 Dundas Street E.Waterfront TO

11. 3. Converting Existing Buildings 5 Selby 63 & 65 Homewood Avenue

12. Taking Action on Housing Mayor Tory, City’s Housing Advocate and City’s Poverty Advocate take action on creating more affordable housing at 200 Madison Avenue.

13. Contact Information Sean Gadon Director, Affordable Housing Office City Of Toronto 416-338-1143 sgadon@toronto.ca