the Sandwich South Planning District shall be calculated in accordance with the rates set out in “ Schedule B ”.

7. Calculation Date of Development Charges

(1) Development charges applicable to development shall be calculated as of:

  1. The date of a complete application for Site Plan Approval in respect of the land to which the development charges apply; or

  2. If subsection 7(1)(a) does not apply, the date of a complete application for Zoning By-law Amendment in respect of the land to which the development charges apply; or

  3. If neither subsection 7(1)(a) nor subsection 7(1)(b) applies, the date a building permit is issued in respect of the land to which the development charges apply.

Subsection 7(1)(a) and 7(1)(b) do not apply if, on the date the development charge or first development charge installment for the development is payable, is more than two (2) years after the application referred to in subsection 7(1)(a) or 7(1)(b) was approved.

8. Payment Date of Development Charges

(1) For all non-deferred development types:

  1. Development charges applicable to non-deferred development shall be payable and collected on the date a building permit is issued in respect of the land for which the building permit was issued.

  2. If either subsection 7(1)(a) or 7(1)(b) applies, then interest charges as indicated in section 9 shall be applied to the development charges.

(2) For deferred development types:

  1. Development charges applicable to deferred development types shall be payable and collected in equal annual installments in accordance with the provisions of s.26.1 of the Act. Interest charges as indicated in section 9 of this by-law shall be applied to the development charges paid by installments starting from the complete application date where 7(1)(a) or 7(1)(b) apply or, at building permit issuance where 7(1)(a) or 7(1)(b) do not apply, until the date of payment of each installment.

  2. Any unpaid amounts, including any interest payable, shall be added to the owner’s property taxes.

(3) If any part of the development is changed so that it no longer consists of a deferred development type, the development charge, including any interest payable, but excluding any installments already paid, shall be paid immediately.

9. Interest Rates

(1) For all non-deferred development types:

Interest, at the annual interest rate, compounded annually, as specified in the Corporation’s Fees and Charges By -law as amended, shall be applied to the development charges starting on the complete application date until the date of payment.