Toronto Mayor John Tory, in announcing the 2023 budget, is investing close to $2 billion in gross spending toward initiatives to address the city’s housing shortage.
The budget allots $616 million in direct support from the city’s tax base for housing initiatives, apart from spending on the COVID-19 pandemic. The housing initiatives are based on the 2023 Housing Action Plan, introduced by the mayor and passed by the city council last December.“This is needed funding to help our most vulnerable residents and to help people find a pathway out of homelessness,” Tory said at a Jan. 5 press conference.
