City council will establish a task force to examine selling a large chunk of Toronto Community Housing real estate rather than immediately putting 700 of its properties on the open market.
The decision was made during an executive committee meeting Friday afternoon.
The committee voted in favour of listing 56 properties immediately and holding onto 700 more until a special committee examines the issue and reports back to council in October.
Only Deputy Mayor Doug Holyday voted against the motion.
"I am very glad to see the executive do this," Coun. Paula Fletcher told CP24 after the vote. "It is not that easy to build housing, so it shouldn't be so easy to get rid off housing. It's important to slow down the process and look at all of the issues around social housing."
In June TCHC Managing Director Case Ootes suggested selling 900 single-family homes in order to raise about $400 million and address the growing list of repairs needed at many other TCHC properties. At the time Ootes said the TCHC needed $650 million to bring all of its properties up to code.
Since Ootes comments, the city has only signed off on selling 22 homes but that number rose to 78 with Friday's vote.
"Selling off just seemed like the simplest solution, but we have an 80,000 person waiting list and this would add 2,000 more to that list," Fletcher said. "Perhaps it is pennywise and pound foolish."
About 50 deputants spoke during Friday's meeting, which lasted about six hours.
Included among the speakers were TCHC CEO Len Koroneos and chair Bud Purvess.
Both said that they supported a task force, so long as it does not come at a significant cost to the commission.
