City to sell 22 TCHC homes
Dwellings valued at $15.7M
Posted: May 24, 2011 9:06 PM ET
Last Updated: May 25, 2011 4:27 PM ET
Toronto's executive committee approved the sale of almost two dozen homes on Tuesday owned by Toronto Community Housing Corporation.TCHC managing director Case Ootes estimates the homes are worth almost $16 million. (The Canadian Press)
The money, which it will raise from the sale of the homes, will be used to pare down the growing repair bill for other TCHC buildings.
Last month, Case Ootes, TCHC's council-appointed managing director, recommended that the houses be sold, noting that the properties are worth about $15.7 million.
Ootes suggested the money could help pay a $650-million repair tab on the agency's other properties.
"This particular sale of 22 houses is a start," he told reporters. "There will be recommendations going to the new board with respect to the options that may be available that the new board may want to take advantage of."
Still, Coun. Adam Vaughan said the decision to sell housing that one group lives in to fix housing that others live in is "fiscally ridiculous."
Some are concerned about where the families affected by the decision will end up as 13 of the 22 homes are currently occupied. They were at the meeting on Tuesday to convince Mayor Rob Ford and the committee to rethink the decision.
"I really do hope that the city, TCHC and the tenants can somehow work together to resolve this without disrupting families," said TCHC resident Heather O'Neil. "It's not fair … it's not fair, Mr. Ford."
City council must still approve the recommendation.
Corrections and Clarifications
- An earlier version of the story stated the executive committee has approved the sale of 22 TCHC homes, throwing a number of families out on the street. In fact, TCHC will honour documented commitments made to all tenants in the affected homes. TCHC will also try to relocate tenants in affected homes to other suitable TCHC units. May 25, 2011 | 4:25 PM ET
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