CBJ – April 7 – New interim Managing Director Case Ootes has approved the sale of 22 single-family homes owned by the Toronto Community Housing Corp. (TCHC), according to reports.

The for-sale properties are currently listed as vacant or in serious need of repair, or rented at a price far distant from market value. In fact, the City of Toronto’s backlog of repairs to these dwellings is an estimated $600 million, a figure Ootes estimates could reach as much as $1 billion in the future. The potential sale of these 22 homes is expected to garner about $15 million.

Ootes’ approval will now go before Toronto city council.

“Past boards, for various reasons, have avoided the difficult decisions that need to be made. We can’t continue on the road where the capital repairs continue to escalate; we can’t keep up, we’re way behind. Something has to give,” Ootes said in a report.

According to reports, the TCHC sold off more than 40 properties in 2007, below annual market rates.

Earlier this year, the TCHC faced controversy when a report issued by the auditor general revealed the inappropriate expenditures of the corporation’s board of directors. Lucrative dollars were spent on travel, boat cruises, salon visits, staff parties, and more. Since, those on the board have either resigned or have received their walking papers. In the interim, the one-man-show Ootes has replaced the board to handle all TCHC matters.