Mayor ready to mull compromise on community housing sale
Posted February 11, 2012 11:46 am.
This article is more than 5 years old.
TORONTO, Ont. – Mayor Rob Ford might be considering a compromise on the sell-off of 675 Toronto Community Housing homes.
Ford’s executive committee was due to consider the sale of the homes at a meeting on Monday, but with more than 100 people registered to speak on the houses, the meeting will now be held Friday as a meeting devoted solely to the issue.
Head of the city’s affordable housing committee Councillor Ana Bailao said, “the Mayor was receptive to my ideas to look at ways to avoid selling-off the homes.”
Toronto Community Housing said it needs to sell the homes in order to pay for a $751-million dollar repair backlog.
TCHC CEO Len Koroneos said the plan to sell the 675 homes “is the best plan out there to raise the funds to fix the buildings” and have better housing for tenants.
The sale of the homes would be expected to raise around $225 million dollars.
