When is a development charge imposed?
A development charge on new residential development is imposed by the City when the development of the land increases the need for service and where the development requires approvals concerning zoning, minor variance, conveyance of land, subdivision approval, condominium approval, consent for servicing development, or the issuing of a building permit. The City imposes development charges for non-residential development, except for industrial development.
When are development charges payable?
Development charges are collected immediately before the issuance of a building permit.
Treasurer's statement
On or before June 1 of each year, the treasurer must produce a statement concerning development charges collected by the City.
The statement must report the opening and closing balances of the reserve funds into which development charges collected are deposited. The statement must also report all transactions relating to the reserve funds.
In addition, the statement outlines:
- A description of each service for which a charge is collected.
- The credits, if any, which are outstanding for any service, including the opening and closing balances of such credits.
- The amount of funds borrowed from each reserve fund and the purpose for which the borrowed funds were used; the amount of interest owed to the reserve funds for funds borrowed from the same.
- The amount and source of City funds used to repay any money borrowed from any reserve fund.
- A list of projects for which development charges have been expended, including the total project cost and the development charges fund contribution to the project.
The statement, once received by Council, is available from the city clerk’s office.