“Greg has provided stability and growth at a time of immense challenges,” Purves said in a statement. “We appreciate his commitment and our entire Board and staff leadership team wish him well on the next phase of his professional career.”
Board vice-chair Kevin Marshman will step down from his post and assume the CEO role on an interim basis.
The search for a permanent CEO is expected to wrap up in a few months, according to Purves.
“Mr. Marshman has served as vice-chair of the board since 2015 and has several years of experience leading corporations including service as president and CEO of Habitat for Humanity,” Tory said in a statement. “I am confident that Toronto Community Housing is in good hands as the search for a permanent CEO continues.”
Tory noted that the city’s ongoing investment in fixing the current housing stock, in addition to funds from the federal government’s pledge of billions for social housing infrastructure, will all help catch up on a repair backlog.
In his opening remarks at today’s board meeting, Purves noted that Spearn stepped up to help residents affected by the ice storm of 2013, before he was in the top job. Spearn became interim CEO in April 2014.
But earlier this month, Spearn had to defend the agency’s decision to shutter 134 townhouse units in the Jane and Finch area, saying that when work crews initially went in to do repairs, the units were in “worse shape” than previously thought.
In an interview with CBC Radio’s Metro Morning, Spearn admitted that close to 1,000 units could be shuttered by the end of the year. He blamed the fact that when TCH was established 15 years ago, there was no capital reserve fund for repairs.
The city is slated to spend $ 250 million on repairs to public-housing units this year. But according to Spearn, if TCH doesn’t get the funding it needs to continue repairs next year and into 2019, as many as 7,500 units could be boarded up by 2022.
The current model is “unsustainable,” Spearn said.
“It needs a significant injection of resources to be able to continue on its current path.”