Reform of Development Finance Tools

Whereas existing tools for funding community amenities and infrastructure enhancements, including Development Cost Charges, are inflexible and were not designed for urban municipalities in addressing contemporary issues including provision of affordable housing and transit enhancements; And whereas the shortcomings of existing mechanisms for extracting amenities and contributions from new development has resulted in a patchwork of ad hoc systems and approaches which differ by local government and require lengthy site-by-site negotiations and rezonings to implement: Therefore be it resolved that the Province be requested to comprehensively review existing funding mechanisms for financing growth and amenities including Development Cost Charges and consider introducing new tools with which municipalities can ensure new development is aligned with community objectives and contribute to a livable region, with such considerations to include introducing a consistent approach to land value capture and amenity charges which does not rely on negotiations through rezoning.