01/24/2012 10:50 EST | Updated 03/25/2012 05:12 EDT

Ford backs off quick sale of TCHC homes

Toronto Mayor Rob Ford says he will ask the city's executive committee to delay a plan to sell off 675 Toronto Community Housing Corporation homes, for one month.

Ford said in a statement released Monday evening, that he's making the move in order to give TCHC more time to come up with a plan to fund critical repairs.

"I'm very happy with the creative solutions coming out of the new TCHC board. They're doing excellent work. For the first time ever, the board is grappling with the real problems faced by residents and is finding ways to generate the funds needed for repairs," Ford said in the news release.

Last year the city decided to sell off the properties as a way of funding urgent repairs on other TCHC properties.

The sale of the 675 properties would generate an estimated $222 million, while the backlog in repairs is estimated at $650 million.

The sale is also conditional on TCHC submitting plans to the city that would outline how the funds would be used, how the housing units would be replaced and how residents who lose their homes would be housed.

"I meet with people in Toronto Community Housing units every week. Many of the units are absolutely disgusting. The entire system is in desperate need of repairs." "It's unacceptable to me that we would leave people to live this way. We have to find a way to make the most critical repairs as soon as possible," Ford said. The mayor said he still supports the plan to sell off the 675 homes.