(04-28-2022, 09:58 PM)nms Wrote:(04-28-2022, 12:04 PM)Zoo Wrote: I didn't see it posted but I heard that the City is looking at hiking the costs for developers with park dedication to over $40k a unit. This may be speculation or inaccurate but what your thoughts if true? Adding more costs isn't going to help with affordability but I was thinking that the City should have areas where that is waive to encourage dense developments close by rather then all over the map.
Perhaps its recognizing that the purchase prices for the units have increased dramatically since the park dedication fee was first established. If it was tied to a proportion of the purchase price (eg 0.5% of the purchase price) would make it rise automatically as prices rise.
Tying it to purchase price becomes a slippery slope in my opinion. I see that Vaughan and Markham are looking at making changes to their programs and Vaughan is phasing increases in over time rather than in one shot. I can't imagine that there is enough money for $40,000 a door in extra profit. Also, I am not the expert on this area at all so I am not suggesting that I understand exactly how it works.