Building & Investment Committee (BIC) Meeting - September 26, 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 July 25, 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, Board of Directors

Reports from Management

5. Q2 2013 Quarterly Performance Report

Action: Information

Pre-read: BIC:2013-57

Presenter: Director, Strategic Planning & Stakeholder Relations

6. Stand-Alone Properties – Sales Approach and Update

Action: Information

Pre-read: BIC:2013-58

Presenter: Director, Strategic Planning & Stakeholder Relations

TERMINATION

Public Meeting Minutes

The Building and Investment Committee of Toronto Community Housing Corporation held a public meeting on September 26, 2013, in the Main Floor Conference Room, 931 Yonge Street, Toronto, commencing at 9:20 a.m.

Committee Directors present:

Brian Kwan, Chair

Councillor Maria Augimeri

Karen Newman

Regrets:

Councillor Anna Bailao

Audrey Wubbenhorst

Also present:

Marta Asturi, Legal Counsel and Assistant Corporate Secretary

Valesa Faria, Senior Manager, Commercial Business Unit

Jason Gorel, Chief Financial Officer

Heather Grey-Wolf, Development Director

Ismail Ibrahim, Legal Counsel

Hugh Lawson, Director, Strategic Planning & Stakeholder Relations

Graham Leah, Vice President, Asset Management

Katheleen Llewellyn-Thomas, Chief Operating Officer 

Janice Lewkoski, Board Secretary

Bruce Malloch, Director, Strategic Communications

Laurie Payne, Development Director

Liz Reid, Vice President, Information and Technology

Ken Scott, Senior Director, Procurement

Greg Spearn, Chief Development Officer

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. Karen Newman, seconded by Mr. Brian Kwan, 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 - July 25, 2013

Motion carried

ON MOTION DULY MADE by Mr. Brian Kwan, seconded by Ms. Karen Newman, 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 Mr. Brian Kwan, seconded by Ms. Karen Newman, 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 - Q2 2013 Quarterly Performance Report, BIC:2013-57

The Building and Investment Committee had before it the above-captioned report (BIC:2013-57) from the President and Chief Executive Officer.

Councillor Maria Augimeri joined the meeting at 9:25 a.m.

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

• Utility consumption decreasing, but slower than expected.
• The Committee requested clarity on the reference to advance in technology in the assumptions section.  
• The Committee discussed the impact of the capital repair backlog on consumption rates. For example replacement of old boilers and installation of high efficiency and energy star products would have an impact on utility usage.

Motion carried

ON MOTION DULY MADE by Ms. Karen Newman, seconded by Mr. Brian Kwan, the Building and Investment Committee received the report for information.

Item 6 - Stand-Alone Properties – Sales Approach and Update, BIC:2013-58

The Building and Investment Committee had before it the above-captioned report (BIC:2013-58) from the President and Chief Executive Officer.

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

• Listing two stand-alone properties per week at their appraised values. Listings are spread out over several months, so that the TCHC properties do not compete with each other.
• Selling price above the appraised value of the houses.
• The City legal department advised TCHC management that Wineva properties need a special planning amendment as those properties are covered by heritage legislation in effect.

Motion carried

ON MOTION DULY MADE by Ms. Karen Newman, seconded by Mr. Brian Kwan, the Building and Investment Committee received the update on the sale of stand-alone properties and recommended that the report be forwarded to the Board of Directors for information.

TERMINATION

 

Motion carried

ON MOTION DULY MADE by Ms. Karen Newman, seconded by Mr. Brian Kwan, the Building and Investment Committee terminated the public meeting at 9:32 a.m. and resolved to meet in closed session to discuss items A to Q.