A city-appointed task force has found hundreds of millions of dollars in additional funds for Toronto Community Housing repairs.
The task force, appointed by Toronto Mayor John Tory, released its interim report on Wednesday.
According to the report, the group helped re-finance a number of Toronto Community Housing (TCH) mortgages, trading in existing loans for new deals with lower interest and better terms.
"In this environment where today you can go out and get a mortgage for 2.75 per cent, we had mortgages on some of these properties for 11 per cent," Tory said.
The move frees up $171 million this year, to be put towards a backlog in repairs. The report estimates an additional $200 million will be available in 2016, due to re-financing.
"At the end of the day, the residents of (TCH) are its customers and they deserve the best service possible from their landlord," task force leader and Canadian Sen. Art Eggleton said Wednesday.
The task force also called upon TCH leaders to take immediate steps to improve the lives of tenants, including "getting drug dealers out of TCH housing." The report recommends the organization deploy a team of "safety staff" and ask the province for tougher legislation on evictions and trespassing.
"These thugs are engaged in crime. They attract other criminals, they use and attract guns and they threaten the peace and well-being of far too many (TCH) communities day in and day out," Tory said at a news conference.
The report also suggests TCH focus on creating job opportunities for residents, and developing more transparent standards for cleaning, repairs and pest removal.
The task force is being led by Sen. Eggleton, who served as mayor of Toronto from 1980 to 1991, and has conducted several federal investigations into public housing. The group was formed in January, and Tory advised that its first priority should be to examine the TCH.
The interim report focused on immediate steps that could be taken to improve tenants' lives. A final report, to be released in December, will look into opportunities for partnership, innovation, new development and governance.
