In a report released Tuesday that is scheduled to go before executive committee next week, the deputy city manager of development and growth services lays out a look at the proposal, and highlights that Toronto is experiencing a “financial crisis” in both the short and long term.
The city has already had to push for increased funding from both the federal and provincial governments this year, after asylum seekers were forced to sleep on the streets due to an overburdened shelter system.
“A new fiscal deal to support the structural changes that will put Toronto on a path to long-term financial sustainability plus a commitment from the federal and provincial governments to invest in the HousingTO Plan,” the report notes.
Mayor Olivia Chow also appears to be making good on one of her key campaign promises: to have the city work as its own property developer.
The report recommends the city lead the development of five sites throughout the downtown — 405 Sherbourne St., 150 Queen’s Wharf Rd., 1113-1117 Dundas St. W., 11 Brock Ave. and 25 Bellevue Ave.
Chow’s idea of making the city a “public builder,” as the report calls it, was criticized by some rivals on the campaign trail, including Ana Bailão and Coun.
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In a report released Tuesday that is scheduled to go before executive committee next week, the deputy city manager of development and growth services lays out a look at the proposal, and highlights that Toronto is experiencing a “financial crisis” in both the short and long term.
The city has already had to push for increased funding from both the federal and provincial governments this year, after asylum seekers were forced to sleep on the streets due to an overburdened shelter system.
“A new fiscal deal to support the structural changes that will put Toronto on a path to long-term financial sustainability plus a commitment from the federal and provincial governments to invest in the HousingTO Plan,” the report notes.
Mayor Olivia Chow also appears to be making good on one of her key campaign promises: to have the city work as its own property developer.
The report recommends the city lead the development of five sites throughout the downtown — 405 Sherbourne St., 150 Queen’s Wharf Rd., 1113-1117 Dundas St. W., 11 Brock Ave. and 25 Bellevue Ave.
Chow’s idea of making the city a “public builder,” as the report calls it, was criticized by some rivals on the campaign trail, including Ana Bailão and Coun.
The original article contains 761 words, the summary contains 204 words. Saved 73%. I’m a bot and I’m open source!