Our best option

Re “‘No cash’ in sale of TCHC houses” (Don Peat, Jan. 28): Coun. Adam Vaughan’s claim that Toronto Community Housing’s State of Good Repair Plan will not raise cash to pay for repairs is incorrect. The reality is we owe just $1 million in debentures and $2 million in mortgages on the 675 stand-alone units we propose to sell, and the $222 million we estimate the sales would raise for much-needed repairs already factors this in. Too many of our 164,000 tenants are living in substandard housing. We believe our plan will provide the greatest good for the greatest number of people. It is the best option we have for raising the money we need to improve our housing and to start paying down a $650-million-and-growing repair bill at no extra cost to taxpayers.

Len Koroneos

CEO (interim)

Toronto Community Housing

Source: Toronto Sun