Today, Regional Council approved the 2020 Development Charge (DC) By-law and Background Study.
The new by-law includes the DC rates and policies to be applied across the Region to help pay for the infrastructure required to support population and employment growth. The new DC By-law comes into effect on January 22, 2021 and replaces the current DC By-law prior to its expiry on January 24, 2021.
The 2020 DC By-law supports Regional objectives around financial risk management and continues to support the principal that growth pays for growth.
“The Region remains committed to working with the development community, as well as local municipal partners in developing policies that support Regional objectives of planning and managing growth while promoting financial sustainability,” said Stephen VanOfwegen, Chief Financial Officer and Commissioner of Finance, Region of Peel.
Quick Facts/Additional Resources
The Region collects DCs under the authority of the provincial Development Charges Act, 1997.
DCs assist in funding capital projects required to meet the increased need for services resulting from population and employment growth and development.
The Draft 2020 DC Background Study and Proposed DC By-law were released to the public on September 18, 2020.
A statutory public meeting was held on October 8, 2020 as a part of the DC By-law review consultation process.
The feedback received from the public and the development community has been carefully considered in the preparation of the final 2020 DC By-law.
More information can be found at, peelregion.ca/finance/development-charges.asp
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