"There is a possibility of flooding to occur near ravine areas and areas that are low lying and next to watercourses."

The remnants of Tropical Storm Fay could bring periods of intense rain to the Greater Toronto Area on Saturday even though the system is tracking farther east.

A tornado watch was also issued briefly for Toronto Wednesday afternoon.

The City of Toronto's general manager of emergency management says there will be crews on standby to respond to potential damage.

"Given the prognostications thus far and the actual hard evidence of lake levels right now, we expect 2020 to be a repeat of 2019 -- if not worse."

Communities across southern Ontario are assessing the damage caused by a major storm that brought flooding and freezing rain to several areas.

Toronto police said water overflowing from the Don River caused "excess flooding."

More than 80 people were killed when hurricane Hazel hit the area, many of whom were living near the banks of the Humber River when flood water swept away their homes.

Tory said on Monday that the federal government will be backing almost $12 million into projects, while the city will provide an additional $18 million. 

The Toronto Region Conservation Authority has issued a warning saying Lake Ontario water levels remain high with "risks" during heavy wind or wave activity following Wednesday's heavy rain.