2025.EX22.10

Background

“In Fall 2024, City Council advanced the new Purpose-Built Rental Housing Incentives program, an important new initiative to unlock new rental supply and affordable rental housing. This program provides eligible projects with relief on property taxes and development charges to bring down the cost of building, and help new rental and affordable units break ground at a time when many are stalled due to economic conditions.”

Source: City of Toronto

Item Description

“This motion requests City staff to review the remaining applications to the Purpose-Built Rental Housing Incentives program and report on additional shovel-ready housing projects that could be eligible to receive property tax and development charge relief if provincial funding is received. This will help the City move quickly to advance these projects with provincial financial support.”

Source: City of Toronto

Proposed by

Mayor Olivia Chow