TORONTO, September 28, 2017—The Board of Directors of Toronto Community Housing (TCHC) today approved a 2018 budget of $1.04 billion, which includes a $585-million operating budget and a $456-million capital budget.
The 2018 budget will benefit TCHC tenants through investments to accelerate building capital repairs, improve service delivery and access to services, further develop TCHC’s fire and life safety program, and refresh its information technology to be more responsive and efficient.
TCHC’s $300-million building capital repair budget for 2018 follows on capital repair budgets of $250 million in both 2017 and 2016. If supported by the City, this record level of investment will enable TCHC to accelerate its efforts to repair its buildings and improve living conditions for tenants. TCHC will also invest $156 million to continue construction of replacement housing in its six active revitalization communities.
The 2018 operating budget represents an increase of $12.7 million over 2017. TCHC will invest in hiring more frontline staff to improve cleaning and maintenance services, reduce the time needed to prepare vacated units for new tenants, and better connect tenants to services and supports. Investments to improve tenant safety and security include adding more special constables and supervisors to the Community Safety Unit, and enhancing fire and life safety systems in all TCHC buildings.
“The Board has again played an active and constructive role in shaping this year’s budget. Through their diligent efforts, Board members and staff have developed a prudent and responsible budget that will keep TCHC focused on providing better housing and delivering better service to tenants.”
— N.W. Bud Purves, Chair, Board of Directors
“I sincerely thank the tenants who provided input, as well as our team members, Board members and City of Toronto officials for their considerable efforts in developing this budget. If supported by the City in its 2018 budget process, the level of investment approved by the Board today will enable us to continue our journey to becoming a more tenant-centric and responsive social housing provider, and ensure we have no more permanent closures of units.”
—Kathy Milsom, President and Chief Executive Officer
About Toronto Community Housing
Toronto Community Housing (www.torontohousing.ca
) is Canada's largest social housing landlord, providing homes for nearly 60,000 low and moderate-income households in neighbourhoods across the city. We are wholly owned by the City of Toronto and our 2,100 buildings represent a $10-billion public asset.