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+--- Thread: 50 Borden Ave S | 51, 57 fl | Proposed (/showthread.php?tid=1773)
RE: 50 Borden Ave S | 51, 57 fl | Proposed - tomh009 - 02-22-2024
(02-21-2024, 10:28 PM)ZEBuilder Wrote:(02-21-2024, 08:00 PM)nms Wrote: So if this gets approved, but then Vive sits on it, does Kitchener get penalized for not having this building start?
The simplest answer is yes. If a municipality meets it's yearly target for units under construction they get a certain amount of money. However if the municipality approves the units but the developer sits on it the municipality doesn't get anything. So in the case of Kitchener in 2023 the number of approved units (SPA and OPA/ZBA) met the province's target but because developers are sitting on units the city gets penalized and gets nothing.
Yes and no ... the provincial government's targets don't care at all about approvals, only starts. So, whether this is approved or not doesn't make any difference, the only thing that matters is the construction start.