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Toronto’s “Taking Action on Tower Renewal” program gets a $13.5 million boost

June 1, 2023 – Through the Federation of Canadian Municipalities’ Green Municipal Fund (GMF), the City of Toronto is receiving about $13.5 million in funding for its Taking Action on Tower Renewal (TATR) program.

The funding includes $11,745,460 in loans and $1,761,810 in grants.

Toronto’s TATR program will support eligible owners of older high-rise towers in Neighbourhood Improvement Areas to complete energy efficiency upgrades, which could include new windows, new home appliances, or reinsulating roofs, walls and doors.

“Improving the energy efficiency of the city’s many older apartment buildings will not only improve the lives of tenants, it will also make important contributions to the city’s net-zero target,” said Jennifer McKelvie, deputy mayor.

Natural Resources Canada says upgraded towers should see their energy consumption reduced by 15% and natural gas use reduced by nearly one quarter, and provide annual operating and maintenance cost savings of over $1.3 million.

“I encourage eligible property owners across the city to apply for this fantastic grant and financing opportunity,” McKelvie added.

In 2021, 74 projects were supported through the core funding stream of GMF, with $104.4 million in new funding allocated, says NRCan.