Regent Park Legacy Funds

What would you do with $600,000 for the community?

During the early 1980s, Regent Park residents had a vision for a community centre run by residents. To support this vision, Toronto Community Housing Corporation (TCHC) households voluntarily committed $2 per month for three years, adding up to $10,000.

However, during the fundraising period, the South Community Centre was built without using any of the funds raised. And so the money was then designated to create opportunities for training and employment for people to take over the management of the Community Centre. Unfortunately, this never happened, and in the late 1990s the management of the Centre was turned over to the City of Toronto, thus leaving the funds untouched. 

In addition to the contributions from the residents, various levels of governments provided an additional $160,000 of funding to match the $160,000 generated by residents. Interest on these funds has continued to accumulate over the years, resulting in the funds totalling $600,000. The funds we now refer to as “Legacy Funds.”

Residents have always been mindful of the funds and have entrusted the City of Toronto and TCHC to keep the interest-generating funds, ensuring that the money remained available to the community.

As Regent Park continues to undergo a tremendous amount of change, we now have a good sense of what the community amenities will be, and we are in a better position to determine how the Legacy Funds can be used.

So, what would you do with $600,000 for the community?

What types of ideas can be funded with this money?

The Legacy Funds can be spent on ideas that benefit the Regent Park community in a way that honours local capacity building and leaves and a lasting community legacy.

Possible ideas include:

Scholarship fund for the Regent Park Community;

A community microloan project;

A capital addition to an existing or planned building in the community.

What types of ideas cannot be funded?

The following ideas cannot be funded with the Legacy Funds:

Ideas that require additional funding from the  City or TCHC;

Purchasing real estate;

Gifting money to individuals or groups (excludes scholarships);

Using the money for religious groups or ideas that only service one portion of the population. 

As we move forward as a new, revitalized community, we need to ensure that we are inclusive of everyone. New and existing members of the Regent Park Community will have an opportunity to articulate how the Legacy Funds are used for the benefit of the whole community. This is a unique opportunity to really shape the future success of the Regent Park community. Let’s get talking, Regent Park!

A final decision about how the Legacy Funds will be used will be made by October 2013 and will be communicated to Regent Park residents. The final use of the funds has to be approved by City Council and the TCHC Board of Directors.

If you want more information or to offer feedback contact Julio Rigores at Julio.rigores@torontohousing.ca or at 416-981-4271, or Leah Ross at lross2@toronto.ca at 416-932-8492.