10-29-2015, 12:03 PM
(10-29-2015, 10:50 AM)Markster Wrote:Quote:Caroline Baker from GSP Group, agent for the developer, said the project can only go ahead if fees are deferred.
Since 1989 the region has only allowed deferrals three times. The amounts were less than $200,000 and in each case it was for a non-profit or similar project.
"The region and our taxpayers are not getting into the business of bankrolling the development industry," Coun. Sean Strickland said in opposition. "This is not a line that I want to see us cross."
"(The development charge reserve) is at one of the lowest levels in years," Strickland said.
Development charge reserve is at a low level. To increase that, you need to collect more development charges. To collect more development charges, you need more development. To get more development ... maybe you need to compromise on the timing of those charges.
The region wants the charges up front. Developer wants to pay in two years. Maybe a reasonable compromise would be $4M now, $4M in a year, and $4M in two years (plus appropriate interest).