Two special Council meetings today. First one this morning with open discussion and input for the City's new 5 year Strategic Plan just finished.
At 1:30 p.m. Watson & Associates Economists Ltd. are to provide a presentation concerning the purpose of the Development Charges Study, with an overview of the methodology required to undertake a new Oshawa Development Charges By-law and discuss policies due to recent legislative changes for Council direction on proposed policy changes.
46 page report for review is here: CNCL-24-34 Status and Policy Review for the 2024 City of Oshawa Development Charge By-law Update (escribemeetings.com)
At 1:30 p.m. Watson & Associates Economists Ltd. are to provide a presentation concerning the purpose of the Development Charges Study, with an overview of the methodology required to undertake a new Oshawa Development Charges By-law and discuss policies due to recent legislative changes for Council direction on proposed policy changes.
46 page report for review is here: CNCL-24-34 Status and Policy Review for the 2024 City of Oshawa Development Charge By-law Update (escribemeetings.com)
The City's long time DC policy exemption for industrial and downtown building should be changing, considering the following highlighted statement in the report:
Over the past 10-year period (2014 – 2023), the financial impact of the current non-statutory industrial exemption is $15.5 million. An additional $20.8 million in future foregone revenue is estimated, if there is no change to the current policy.
Over the past 10-year period (2014 – 2023), the financial impact of the non-statutory downtown exemption is $6.6 million. An additional $57.9 million in future foregone revenue is estimated, if there is no change to the current policy.
The impact of the transition policies outlined in Section 5.5 of this report will depend on which option Council chooses.
Below is a timeline chart to see the new DC By-law endorsed by Council, and below that is the 27 slide PowerPoint Watson & Associates consulted presented.
Over the past 10-year period (2014 – 2023), the financial impact of the current non-statutory industrial exemption is $15.5 million. An additional $20.8 million in future foregone revenue is estimated, if there is no change to the current policy.
Over the past 10-year period (2014 – 2023), the financial impact of the non-statutory downtown exemption is $6.6 million. An additional $57.9 million in future foregone revenue is estimated, if there is no change to the current policy.
The impact of the transition policies outlined in Section 5.5 of this report will depend on which option Council chooses.
Below is a timeline chart to see the new DC By-law endorsed by Council, and below that is the 27 slide PowerPoint Watson & Associates consulted presented.
