Toronto mayor proposes $2 Billion for housing budget
Toronto’s mayor, John Tory, has put forth his housing budget for 2023. The proposed budget sees approximately $2 billion allocated to housing initiatives across the city. Mr Tory said the primary focus of the budget was to ensure a good quality of life for all Toronto residents,
“This budget, I’m focused on protecting and improving the nuts-and-bolts services Torontonians rely on and following through to build housing and keep our city safe. From keeping pools, rinks, and youth spaces open, to snow clearing on sidewalks across the city and building more housing, I’m focused on protecting municipal services,” he said.
The 2023 Housing Action Plan, which was proposed in December and subsequently approved by the city council, includes the following investments:
$3.5 million in new funding to support the implementation of legalizing multi-tenant housing.
$7.08 million for the Eviction Prevention Intervention in the Community (EPIC) program.
$18.85 million for the Multi-Unit Residential Acquisition program.
$146 million for the operation of the City’s Housing Secretariat, which includes
housing development, revitalization, improvement, and support for tenants.
$295.8 million for the City’s subsidy to Toronto Community Housing Corporation, as
well as a further $10.8 million as they work to mitigate the impacts of COVID-19.
Additionally, the proposed budget calls on the provincial and federal governments to provide further support, including $91.9 million to support refugee housing costs as well as an additional $48 million to support wrap-around services for 2000 units of supportive housing for mental health care – up almost 900 units since 2022.
The “nuts and bolts” services Mr Tory referred to include the following services:
Protecting recreation center hours during shoulder seasons
Keeping outdoor pools and rinks operating on their full schedules
Continuing to deploy seasonal parks works teams for Spring and Fall cleanup
Keeping all wading pools open
Protecting and keeping all youth spaces open in City facilities
Increasing the Toronto Public Library budget by $5 million or 2.4% over the 2022
budget, and continuing COVID-19 support of $3.6 million
Protecting the Winter Maintenance budget
Ensuring seasonal washrooms and fountains in City parks are open earlier in the spring and later in the fall—through an added investment of over $2.86 million
Mr Tory also noted ongoing COVID-19-related expenses and said the budget proposes $616 million in direct support from the city’s tax base. The proposed budget is slated to go to the council on 14 February.
