Toronto Mayor Rob Ford has momentarily backed down from his plan to sell off more than 600 single-family homes owned by Toronto Community Housing.
Ford had originally supported a TCHC plan that recommended the sale of hundreds of houses.
But on Friday, when his executive staff met to debate the issue, Ford agreed to a compromise put forward by rookie Coun. Ana Bailao that will see 56 vacant homes sold off right away while another 600 will be spared for the time being — at least until September.
The TCHC is facing a $751-million repair shortfall that will exceed $1 billion in 10 years if not addressed.
Bailao will lead a working group to study the best options for the homes, including sales and partnerships between the non-profit and the private sector.
Bailao said the compromise puts residents first and shows Ford is willing to listen to other ideas.
Her group will report back to the executive committee in the fall.
Ford had originally supported a TCHC plan that recommended the sale of hundreds of houses.
But on Friday, when his executive staff met to debate the issue, Ford agreed to a compromise put forward by rookie Coun. Ana Bailao that will see 56 vacant homes sold off right away while another 600 will be spared for the time being — at least until September.
The TCHC is facing a $751-million repair shortfall that will exceed $1 billion in 10 years if not addressed.
Bailao will lead a working group to study the best options for the homes, including sales and partnerships between the non-profit and the private sector.
Bailao said the compromise puts residents first and shows Ford is willing to listen to other ideas.
Her group will report back to the executive committee in the fall.
Original Article
Source: CBC
Author: cbc
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