Ontario Construction News staff writer
Hamilton’s audit, finance and administration committee will hold a public meeting on June 12 to gather opinions on proposed amendments to the city’s development charges by-law that was tabled in response to a weak construction market.
Changes are being proposed to offer financial support to encourage more residential and non-residential development in Hamilton.
The proposed amendments would:
- Allow city council to pause yearly fee increases tied to inflation
- Grant more time to use the current development charges rates
- Pause the reduction in development charge discounts in downtown and some industrial areas
- Offer a new discount for apartments with two or more bedrooms
- Give more time (10 years instead of five) to qualify for a development charge credit after demolishing a building.
These changes mean the city may collect less in development charges, the city says, and that shortfall may need to be covered by other sources, such as property taxes and water and wastewater charges.
Hamilton defines development charges as fees collected by the city when new buildings are constructed or when existing buildings are redeveloped. The fees help pay for city infrastructure, such as roads, parks, water and sewer infrastructure, which is says are needed to support a growing population.
