Statement by N.W. (Bud) Purves, Chair, Board of Directors, Toronto Community Housing

Statement by N.W. (Bud) Purves, Chair, Board of Directors, Toronto Community Housing

March 27, 2012

Independent review of Regent Park condominium purchases

TORONTO, March 27, 2012-Bud Purves, Chair of Toronto Community Housing's Board of Directors, today issued this following statement:

"Recent reports in the Toronto Sun raise some very real questions about condominium purchases by former Toronto Community Housing executives and related persons at Regent Park. There is a need to clarify the facts and address the governance and structure of these purchases, including any possibility of a conflict of interest.

"This is necessary to maintain the trust of our shareholder and the public, given the important work being done by Toronto Community Housing and its partners to transform Regent Park into an innovative mixed-income, mixed-use community, as well as the significant amount of public funds Toronto Community Housing and other levels of government, including the City of Toronto, have invested in Regent Park.

"To that end, the Board has asked the former Chief Justice of Ontario, the Honourable Patrick J. LeSage, a trusted, qualified and respected jurist who knows Toronto Community Housing, to conduct an independent review of these matters and report his findings to the Board. A special committee will meet with Justice LeSage to discuss terms of reference for the review.

"I want to confirm that Toronto Community Housing remains committed to the goals of the Regent Park revitalization. This review will not affect current commitments at Regent Park nor detract from projects currently under construction."

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Media contact:
Jeffrey Ferrier
Toronto Community Housing Media Relations
416-737-1352
jeffrey.ferrier@torontohousing.ca