State of Good Repair Loan Fund

State of Good Repair Loan Fund

​​​​​​In March 2013, following a recommendation in the ​Putting People First - Transforming Toronto Community Housing report, Toronto Community Housing refinanced 18 of its mortgages to establish a new 30-year rate and generate about $93-million. In 2014, a further $64 million was generated through mortgage re-financing.

There are a few restrictions to this money. First, a portion must be set aside in capital reserves for the buildings with refinanced mortgages. Second, the money must be spent on capital repairs to buildings with a 30-year life span.

Under its 10-Year Capital Financing Plan developed with and approved by the City of Toronto, Toronto Community Housing plans to secure more than $180 million through mortgage refinancing over the coming decade. Progress will be reported on our website.​

Funding


​Source​​ ​Year ​Net New Funding
​Infrastructure​ Ontario Mortgage Re-financing​2013​​​$94,255,865
​Infrastructure Ontario Mortgage Re-financing​​2014​$30,686,865
​​Infrastructure Ontario Mortgage Re-financing​​2015​$200,000,000
​ ​Total:
$324,942,730.00

Expenses


​Investment​ ​Date ​Expense​
​Capital Repairs​YTD Q1 201​7​$31,579,087.53​
​Total: ​$31,579,087.53​​​