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HOW WE OPERATE RESPONSIBLE BANKING WORKPLACE ENVIRONMENT COMMUNITY GOVERNANCE


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Affordable Housing WHY IT’S MATERIAL TO TD


Housing is a necessity of life. Yet the lack of affordable shelter is a persistent and growing problem in cities across America. Given TD’s role in local economies, particularly in mortgage and development financing, we can make a powerful difference by mobilizing investment and collaboration to tackle affordable housing issues.


Management Approach


Our goal in this area is to improve the quality and availability of affordable housing units across our footprint in an effort to create positive outcomes for people and neighbourhoods on which our business depends. To achieve this, we take a multi-faceted approach by:


• Providing community development loans and services to companies developing or preserving affordable housing in low- and moderate-income areas


• Making investments through low-income-housing tax credits that benefit underserved communities


• Providing significant support from the TD Charitable Foundation, including our signature Housing for Everyone grant competition – a yearly initiative that gives money directly to non-profits leading the way in building new affordable housing and enhancing the existing supply


2015 Performance


Community Development Activities Lending: TD Bank originated 106 loans to developers and organizations, totaling over US$305 million. These funds supported over 5,700 units of affordable housing.


Investments: TD Bank also funded US$392 million last year in Low-Income Housing Tax Credits (LIHTC) to support new construction and rehabilitation of affordable housing for families, individuals and elderly residents. Here is one example:


• A US$8.2 million investment in a 48-unit affordable housing project located in the City of Brewer, Maine for homeless families and families living with HIV/AIDs. In addition, the TD Bank Charitable Foundation also awarded a $100,000 grant to install solar panels which will provide 12% of the building’s energy needs, thereby reducing operating costs.


Headline Performance


$697 million


provided through community development investments and loans to support Affordable Housing projects


$4.45 million


donated to organizations dedicated to improving and expanding housing from the TD Charitable Foundation1


962 families


Go Deeper TD Bank Community


List of 2015 Housing for Everyone Recipients


Page 48


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Watch the story of one incredible women’s shelter in Miami and how it is changing lives daily.


assisted through TD Bank’s Right Step Mortgage® in the U.S.


1 program


Total charitable funding, including US$2.5 million provided through the annual Housing for Everyone competition.


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