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article imageMayor Ford planning to sell 900 social housing units in Toronto

By Andrew Moran     Jun 10, 2011 in Politics
Toronto - In order to garner millions of dollars to tackle the upcoming $774 million budget shortfall, Toronto Mayor Rob Ford is looking at selling more than 900 city community housing units to the highest bidders.
Following the scandals that plagued the Toronto Community Housing Corporation (TCHC), former city councillor and now outgoing managing director of the TCHC, Case Ootes, told reporters at a news conference Thursday that the organization is proposing the sale of more than 900 community housing units.
According to CBC News, the 900 units will go to the highest bidder and it is projected that the sale could generate as much as $400 million; something that Ootes suggests going towards the city’s aging housing stock.
"Senior levels of government aren't riding to the rescue,” said Ootes, speaking outside of a TCHC building on Church Street, reports City News. “Toronto Community Housing needs to address this challenge head-on. Selling houses and applying the proceeds to the repair backlog is a better option than raising taxes, raising rents which cannot legally be done, diverting money from other city programs or doing nothing.”
But the mayor sees it as money to tackle the $774 million 2012 operating budget shortfall, according to the Globe and Mail. “I agree. Let’s sell these homes. Let’s take that revenue,” said the Toronto Mayor. “Obviously, we need the money to fund next year’s budget. Some could go to housing. Some could go to next year’s budget. It all depends. We would have to see.”
Measures to sell the units would first have to be approved by the 13 members on the TCHC board, which would then be followed by an approval by the government of Ontario and city council.
Ootes was appointed as the interim managing director following mass resignations after a spending scandal at TCHC. Ootes will leave his post next week and city council will have to select and approve Ford’s designate, three councillors and seven citizen members.
More about Rob Ford, toronto community housing corporation, Social housing, Toronto mayor, City council
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