State of Good Repair Fund Background

In 2012, our total unfunded capital need, or the capital repair backlog reached an estimated $751 million. Because we do not have enough funding to complete all of the repairs our properties need, the backlog grows every year. It is expected to exceed $1 billion by 2015 if no new sources of funding are found.

Revenue generated from property tax exemption, mortgage refinancing and the sale of stand-alone properties, and other assets is set aside in the State of Good Repair Funds to be spent on capital repairs.

Expected proceeds from the sale of 68 vacant stand-alone properties starting in early 2013 will raise at least $24 million, which will be used to offset some of Toronto Community Housing’s larger capital repair needs. 

State of Good Repair Fund A

Currently totals $12.5 million, which will support the State of Good Repair: in your unit program. 

All funds generated for, and expenditures from, the State of Good Repair Fund A are listed below. 

State of Good Repair Fund B

Currently totals $6.8 million through the property tax exemption from the City of Toronto.

Is expected to grow by $59 million through the sale of 123 standalone units in 2013 and 2014.

With approvals, this fund is expected to grow by an additional $93 million through the refinancing of 18 mortgages with Infrastructure Ontario.

The monies from the State of Good Repair Fund B will be used to fund larger capital repairs like roofs, life safety, mechanicals and exteriors.

More information about the State of Good Repair fund can be found at www.torontohousing.ca/sogr_fund_qa