Development Charges To Increase By A Whopping 7.9%

Development Charges To Increase By A Whopping 7.9%

Posted: 2021-11-19 07:43:53 By: thebay

Development charges in Muskoka are set for a 7.9% increase after councillors indicated their support for the motion to do so during the November 15th District Council meeting.
Commissioner Susan Oliver told council that discounts, and opportunities are offered to developers at the time of their application.
Over the last decade, developers have received discounts up to 50% of the development charges, but this has created a financial burden on the District.

Oliver says, “we are not collecting enough to cover the projects associated with growth.”
The District recently reported they have an approximate $7 million deficit in regard to development charges.
Oliver reminded council that there is a policy in place regarding development charges interest rates that helps guide municipalities to set their rates as per the Development Charges Act.
“We’re able to freeze development charges when a developer moves forward with a project for rental units, for example, for up to two years. And development charges can be deferred over the next six years, where they will then make instalment payments.”
Oliver explains that measures such as these enable the District to a work with developers looking to build in the area to ensure both sides benefit and discounts on the rates are given to promote the development for high-density dwellings.