How Gord Perks voted at council

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1. 2025.EX21.13ADOPTED

   Supporting Ownership Housing Developments

   Toronto is experiencing a continued housing supply slowdown as a result of high construction and financing costs, higher interest rates, and declining pre-construction sales and rents. Foreign trade risks and immigration changes add significant uncertainty to the growth outlook of housing supply. The slowdown in development activity could have a generational negative impact on Toronto's ability to accommodate the housing needs of current and future residents, and a potential permanent loss of development capacity if capital and labour are reallocated. This slowdown is being experienced across the housing spectrum. Following the introduction of a new Purpose-Built Rental Supply Program in late 2024, this report is proposing measures to unlock and advance stalled multi-unit ownership housing projects that include at least 5%-10% affordable housing and are expected to start construction within the next two years. Subject to approval of this report, the City will provide deferral of the payment of development charges (DCs) for eligible multi-unit ownership units. The deferred DCs would then be payable, interest free and at June 2024 DC rates, four years following approval of the defer…

   City Council · 2025-03-27 15:41 PM

   Adopt Item

   Gord Perks's vote: Yes

   Majority required - EX21.13 - Adopt the item

   Motion result

   Carried

   Recorded tally

   22-2

   Source outcome

   Carried, 22-2