Minutes
City Council
Monday, March 02, 2020

That 3 parallel parking spots BE ALLOWED to exist on the east side of Mercer Street within the 1980 grandfather encroachment agreement in place, and that THERE BE NO REQUIREMENT to build up the curb on the east side of Mercer Street.

Report Number: C 26/2020
Clerk’s File: ST2020

8. CONSENT AGENDA

8.1. Development Charges Act Changes - City Wide

Moved by: Councillor Francis

Seconded by: Councillor Gignac

Decision Number: CR109/2020

That City Council APPROVE, pending provincial regulations, the following recommendations in order to address the impacts of the new Bill 108 Development Charges Act changes that came into effect on January 1, 2020:

  1. As permitted under Section 26.2 (3) of the Development Charges Act (DCA) (as amended), that City Council AUTHORIZE the Chief Financial Officer and City Treasurer to apply an annual interest rate charge equal to the greater of the Statistics Canada Building Construction Price Index Non-Residential (annual change as at 2nd quarter) plus one percent (1%) or the Bank of Canada Rate as at June 30th of each year plus one percent (1%) to any "frozen" development charges payable with said amounts to be calculated as of the date on which a Site Plan Approval application is deemed complete or, if no Site Plan Approval application is made, the date at which a Zoning By-Law Amendment application for the development is deemed complete and FURTHER that said interest charges be applied on or after January 1, 2020 up to the date of payment so as to mitigate the cost impacts to the municipality with a goal of achieving revenue neutrality as compared to the previous DCA regime and;

  2. As permitted under Section 26.1 (7) of the DCA, that City Council AUTHORIZE the Chief Financial Officer and City Treasurer to apply the following annual interest rate charges to any mandatory deferred DC fees (for rental housing, institutional development and non-profit housing development), payable in installments, in accordance with the Development Charges Act Section 26.1 (7) for any development charges that become payable on or after January 1, 2020:

  1. For development applications that provide financial security in a form of a letter of credit, interest charges will be applied equal to the greater of the Statistics Canada Building Construction Price Index Non-Residential (annual change as at 2nd quarter) plus one percent (1%) or the Bank of Canada Rate as at June 30th of each year plus one percent (1%) from the date the development charges would have been payable