Here is How Much Mississauga Will Charge Developers
On the heels of the passage of Bill 108 by Doug Ford's government, Mississauga has announced some changes when it comes to how much the city charges for new developments.
City council approved the new Development Charges by-law during this week's council meeting. According to the city, the new by-law includes the rates and policies to be applied across Mississauga to help pay for the infrastructure required to support growth.
The new DC rates go into effect on June 19. However, the 2019 DC By-law provides for a transition period where building permits issued between June 19 and July 12 will pay the former 2014 DC rates. City staff indicated the estimated transition costs (to be funded by the city’s tax base) could be between $1.2 to $1.5 million.
"In passing the by-law, the new DC rates will help recover the growth-related capital costs of new infrastructure projects," the city's finance director, Jeff Jackson, said. "DCs help pay for the cost of libraries, fire and transit stations and community centres that would otherwise have to be paid for by the property tax or other revenue sources. The by-law was refined by engaging the public and the development community and we thank all participants for their input."
The provincial government's Bill 108 essentially eliminated development charges, which Mississauga and other cities and towns have used to pay for growth in their communities, along with other levies into a 'Community Benefit Charge.'
The CBC is intended for "the capital cost of facilities, services and matters required because of development or redevelopment in the area to which the by-law applies," but critics say this leads to no guarantee that green space like parks or affordable housing will be built by developers.
For all the specific rates in the new development charges bylaw, click here.
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