A report to Pembroke city council shows the impact that the Ontario governments More Homes Built Faster Act will have on the city. Director Planning, Building & By-law Enforcement Department, Colleen Sauriol says the new act states that the amount of Development Charges imposed under an existing Development Charges by-law for the different types of housing would be reduced by 20 percent during the first year the by-law is in force. Based on this information and if the changes had been in place in 2022, the City would have lost just over $42,000 in development charges, being a loss of approximately 37 percent. In 2022, the City received $115,655 in Development Charges for residential units.
The new Act states that the amount of Development Charges imposed under an existing Development Charges by-law for the different types of housing would be reduced by 15 percent the second year, 10 percent the third year and 5 percent the fourth year. Also according to the new act, the Development Charges for rental housing development would be further reduced by 25 percent for units with three of more bedrooms, 20 percent for units with 2 bedrooms and 15 percent for all other units.
(Written by: Kyle Robinson)