Building & Investment Committee (BIC) Meeting - July 25, 2013

Public Agenda

1. Approval of Agenda and Review of Agenda Order

Action: Approval

Pre-read: Agenda

Presenter: All

2. Confirmation of Public Meeting Minutes of May 30, 2013

Action: Approval

Pre-read: Minutes

Presenter: All

3. Business Arising from the Minutes and Committee Action Items Update

Action: Discussion

Pre-read: Action Item List

Presenter: All

Reports from the Building and Investment Committee Chair

4. Chair's Report and Remarks

Action: Information

Pre-read: -

Presenter: Chair

Reports from Management

5. Putting People First Recommendations – Update

Action: Information

Pre-read: BIC:2013-43

Presenter: Director, Strategic Planning & Stakeholder Relations

6. Stand-Alone Properties – Sales Approach and Update

Action: Information

Pre-read: BIC:2013-44

Presenter: Director, Strategic Planning & Stakeholder Relations

7. Q1 2013 Quarterly Performance Report

Action: Information

Pre-read: BIC:2013-45

Presenter: Director, Strategic Planning & Stakeholder Relations

8. Delegation of Spending Authorities

Action: Information

Pre-read: BIC:2013-46

Presenter: General Counsel and Corporate Secretary

Closed Meeting Agenda

A. Approval of Agenda and Review of Agenda Order

Action: Approval

Pre-read: Agenda

Presenter: All

B. Confirmation of Closed Meeting Minutes of May 30, 2013

Action: Approval

Pre-read: Minutes

Presenter: All

C. Confirmation of Joint BIC/CAAC Meeting Minutes of May 30, 2013

Action: Approval

Pre-read: Minutes

Presenter: All

D. Business Arising from the Minutes and Committee Action Items Update

Action: Discussion

Pre-read: Action Item List

Presenter: All

Reports from the Building and Investment Committee Chair

E. Chair's Report and Remarks

Action: Information

Pre-read: -

Presenter: Chair

Reports from Management

F. Confidential item from the Chief Development Officer 

Action: Information

Pre-read: Verbal

Presenter: Chief Development Officer

G. Confidential item including, but not limited to personal matters about identifiable individuals, a proposed or pending transaction with a third party, and recommendations of proposed policy or processes

Action: Approval

Pre-read: BIC:C2013-47

Presenter: Chief Development Officer and Development Director

H. Confidential item including, but not limited to personal matters about identifiable individuals, a proposed or pending transaction with a third party, and recommendations of proposed policy or processes 

Action: Approval

Pre-read: BIC:C2013-48

Presenter: Chief Development Officer

I. Confidential item including, but not limited to personal matters about identifiable individuals, a proposed, pending and current transaction with a third party, and recommendations of proposed policy or processes

Action: Information

Pre-read: BIC:C2013-49

Presenter: Chief Development Officer

J. Confidential item including, but not limited to identifiable individuals, a proposed or pending transaction with a third party and recommendations of proposed policy or processes

Action: Information

Pre-read: BIC:C2013-50

Presenter: Chief Development Officer

K. Confidential item that deals with a proposed transaction with a third party that is not required to be disclosed under the Municipal Freedom of Information and Protection of Privacy Act

Action: Approval

Pre-read: BIC:C2013-51

Presenter: Director, Strategic Planning & Stakeholder Relations

L. Confidential item including, but not limited to a proposed or pending transaction with a third party

Action: Approval

Pre-read: BIC:C2013-52

Presenter: Vice-President (Interim), Facilities Management & Director, Procurement

M. Confidential item including, but not limited to a proposed or pending transaction with a third party

Action: Information

Pre-read: BIC:C2013-53

Presenter: Chief Financial Officer and Director, Smart Buildings and Energy Management

In Camera Agenda Items

Committee Only

TERMINATION

Public Meeting Minutes

The Building and Investment Committee of Toronto Community Housing Corporation held a public meeting on July 25, 2013, in the Main Floor Conference Room, 931 Yonge Street, Toronto, commencing at 9:14 a.m.

Committee Directors present:

Brian Kwan, Chair

Councillor Maria Augimeri

Councillor Anna Bailao

Audrey Wubbenhorst

Regrets:

Karen Newman

Also present:

Leslie Gash, Development Director

Jason Gorel, Chief Financial Officer

Philip Jeung, Director, Smart Buildings & Energy Managament    

Hugh Lawson, Director, Strategic Planning & Stakeholder Relations

Roman Mesec, Vice President (Interim), Facilities Management

Ken Scott, Senior Director, Procurement

Greg Spearn, Chief Development Officer

Michelle Wong, General Counsel and Corporate Secretary

A quorum being present, Mr. Brian Kwan, the Chair, called the meeting to order and Ms. Mirela Bolentiru served as recording secretary.

Item 1 - Confirmation of Agenda

Motion carried

ON MOTION DULY MADE by Ms. Audrey Wubbenhorst, seconded by Councillor Ana Bailao, the Building and Investment Committee unanimously approved the agenda as presented.

Declaration of Conflict of Interest

The Chair requested members of the Building and Investment Committee to indicate any agenda item in which they had a conflict of interest, together with the nature of the interest. None were declared.

Deputations

The Committee Chair polled for any deputations to be heard at the meeting and explained the deputation process. None were declared.

Item 2 - Confirmation of Building and Investment Committee Minutes - May 30, 2013

Motion carried

ON MOTION DULY MADE by Ms. Audrey Wubbenhorst, seconded by Mr. Brian Kwan, the Building and Investment Committee confirmed the above-captioned minutes.

Item 3 - Business Arising from the Minutes and Committee Action Items Update

Motion carried

ON MOTION DULY MADE by Ms. Audrey Wubbenhorst, seconded by Councillor Ana Bailao, the Building and Investment Committee received the report for information.

Item 4 - Chair's Report and Remarks

No report and remarks to present.

Item 5 - Putting People First Recommendations – Update, BIC:2013-43

The Building and Investment Committee had before it the above-captioned report (BIC:2013-43) from the President and Chief Executive Officer.

Management presented a summary, including the following highlights:

• TCHC continues its joint review with City staff to explore and implement the recommendations from the Special Housing Working Group’s “Putting People First” report.
• Management has been assessing the solutions presented in the recommendations for their feasibility.
• A report is being prepared by the Service Manager to be addressed at the October 2013 City Council meeting.
• Affordable Home Ownership Initiative (Recommendation 3):
  • Staff is contemplating various models for administering a program to facilitate the conversion of up to 100 stand-alone houses to affordable home ownership, including partnering with an affordable home ownership or other organization to deliver financing and resident support.  Staff is in the process of developing a Request for Proposals (RFP) to survey the market for organizations with the capacity and expertise to partner in the delivery of the affordable home ownership program, or selected service components.
  • Staff is also considering a proposal to handle the financing in-house, with a non-profit partner, such as Habitat for Humanity.   Staff from TCHC and the Affordable Housing Office have already met twice with representatives of Habitat for Humanity for prospecting the market.
  • TCHC and the City staff worked jointly and launched the “Close the Housing Gap” campaign on June 24, 2013. The purpose of the campaign is to re-engage the federal and provincial governments in funding affordable housing.

Councillor Maria Augimeri joined the meeting at 9:18 a.m.

• Whether some of the recommendations of the City’s Special Working Group have been included in the TCHC Capital Plan as separate, lined items.  The capital requirement for revitalizations has been subtracted from the total capital backlog.
• The RFP for 250 Davenport was successful, but zoning approval from the City is pending.
• Unlocking and leveraging TCHC’s land through the sale of underused land and/or buildings and joint-venture development with the private sector.

Motion carried

ON MOTION DULY MADE by Councillor Ana Bailao, seconded by Councillor Maria Augimeri, the Building and Investment Committee received the report for information.

Item 6 - Stand-Alone Properties – Sales Approach and Update, BIC:2013-44

The Building and Investment Committee had before it the above-captioned report (BIC:2013-44) from the President and Chief Executive Officer.

Management presented a summary and a discussion ensued, including the following highlights:

• Process of appraising properties and current property sales.
  • An appraiser and an independent real estate agent have been engaged to ensure fairness in the listing and offer prices.
  • 15 properties out of the current group have been listed. Seven properties of the 15 listed have closed (two) or offers have been accepted (five).
  • The seven properties have been sold for an amount 34% higher than projected.
• Prioritizing process of the properties.
• Selection process of the appraiser.
• Management was seeking authorization of the President and CEO to delegate authority to sign closing and other ancillary documents, authorization that was not included in the initial approval from the Board of Directors.

Motion carried

ON MOTION DULY MADE by Ms. Audrey Wubbenhorst, seconded by Councillor Maria Augimeri, the Building and Investment Committee received the update on the sale of stand-alone properties and recommended that: 

• The Board of Directors authorize the President and CEO to delegate the authority to sign closing and other ancillary documents; and
• The report be forwarded to the Board of Directors for information.

Item 7 - Q1 2013 Quarterly Performance Report, BIC:2013-45

The Building and Investment Committee had before it the above-captioned report (BIC:2013-44) from the President and Chief Executive Officer.

Motion carried

ON MOTION DULY MADE by Ms. Audrey Wubbenhorst, seconded by Councillor Ana Bailao, the Building and Investment Committee received the report for information.

Item 8 - Delegation of Spending Authorities, BIC:2013-46

The Building and Investment Committee had before it the above-captioned report (BIC:2013-46) from the President and Chief Executive Officer.

A discussion ensued, including the following highlights:

• Management’s report was provided to the Building and Investment Committee for information purposes only. The report will be also presented to the Governance, Risk and Human Resources Committee for review and adoption, with a recommendation to the Board of Directors to adopt the report and approve its recommendations.
• Management explained the approval process. In 2013, only the budget was approved. The spending authority was not approved. Going forward, management will seek approval of spending authority simultaneously with the approval of the annual budget with respect to the 2014 budget and onwards.
• TCHC by-laws do not bar the Committee Chair being given spending authority up to $1.5 million for projects approved and included in the budget. This will facilitate the continuity of a project that otherwise would be delayed if not financed in due time.
• 13 projects are estimated in 2013.

Motion carried

ON MOTION DULY MADE by Councillor Maria Augimeri, seconded by Councillor Ana Bailao, the Building and Investment Committee received the report for information.

PUBLIC MEETING PROCEEDINGS

Motion carried

ON MOTION DULY MADE by Ms. Audrey Wubbenhorst, seconded by Councillor Ana Bailao, the Building and Investment Committee adjourned the public meeting at 9:54 a.m. 

CLOSED MEETING PROCEEDINGS

Motion carried

ON MOTION DULY MADE by Councillor Ana Bailao, seconded by Ms. Audrey Wubbenhorst, the Building and Investment Committee resolved to meet in closed meeting at 10:00 a.m. to consider items A to M. 

TERMINATION

The meeting of the Building and Investment Committee terminated at 11:29 a.m.