The City applies a Development Charge to new/repurposed development under the Development Charges Act. Development Charges ensure sufficient funds are available to provide the infrastructure and services related to growth.
What Are Development Charges
Development Charges are charges on lands located in the municipality under development/redevelopment to pay for the increased capital costs of services arising from development in the area to which the By-law applies.
When are Development Charges Payable?
Development Charges are calculated and payable at the time the first building permit is issued with respect to a development.
Phasing in Development Charges
The Development Charges imposed under the By-law will be reduced in accordance with the Development Charges Act (subject to annual indexing) as follows:
- Year 1 – 80%
- Year 2 – 85%
- Year 3 – 90%
- Year 4 – 95%
- Years 5 to 10 – 100%
Indexing
The Development Charges imposed under this By-law index annually on January 1 in accordance with the Statistics Canada Quarterly, Non-Residential Building Construction Price Index for the most recent year-over-year period.