Oh god, here it goes.. here comes privatization/gentrification
With the repair tab for Toronto’s crumbling social housing stock hitting $650 million and rising quickly, the city’s executive committee voted Tuesday to sell 22 single-family homes.
The tab, provided by Case Ootes, interim managing director for Toronto Community Housing Corp., stunned some councillors.
Two years ago, departing TCHC chief executive Derek Ballantyne put the outstanding repair tab for more than 2,000 buildings at $200 million.
For the 22 homes, many rundown but in sought-after neighbourhoods, council will have final say if they will be sold to reap as much as $15.7 million for the repair fund.