"Toronto is facing a significant shortage of purpose-built rental homes due to insufficient investments from all orders of government since the early 1990s, amongst other factors."
"Recent actions by all levels of government to support new rental homes have not proven sufficient to significantly increase rental housing supply."
"To incentivize rental development, staff recommend the city defer development charges on purpose-built rental homes so long as the development includes the necessary rental requirements."
"Other recommended incentives include a 15 per cent property tax reduction for 35 years for eligible developments and even forgone taxes and fees for affordable rental units."
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