The collision happened on the morning of July 22, when the TTC bus was moving north on Peter Street.
Toronto police say the bus collided with a Nissan Altima in the intersection of Peter and Richmond streets.
The bus then hit a southbound taxi, left the road and struck a building on the west side of the road.
On Thursday, police said the 55-year-old TTC driver has been charged with careless driving and failing to stop at a red light.
The driver is scheduled to appear in a Toronto court on Sept. 20.