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Published on Tuesday, March 6, 2018

Residential development charges rising in Oakville

Council passes bylaw to help make growth pay for itself

Residential development charges rising in Oakville
Town of Oakville photo
Rob Burton, Mayor of Oakville
Oakville Beaver

Residential development charges are on the rise in Oakville.

The charges are applied to construction of new residential and industrial/commercial properties, and are charged to developers to pay for town capital projects that service new growth including roads, transit, sidewalks and street lights.

Town council voted Tuesday, Feb. 27 to receive a Development Charges Background Study and pass a new development charges bylaw.

The study, which was prepared by Watson & Associates Economists Ltd., found that the net costs required from development charges over the next five years to finance planned residential and non-residential growth infrastructure is more than $199 million.

"Growth and development in Oakville should pay its way rather than being financed through taxpayer dollars. The bylaw allows the Town to continue collecting fees from developers to help fund growth at a manageable pace in the years ahead."
— Oakville Mayor Rob Burton

As a result, on average the residential development charge will increase by 27 per cent, depending on the unit type; with the non-residential charge to decrease by three per cent.

“Growth and development in Oakville should pay its way rather than being financed through taxpayer dollars,” said Oakville Mayor Rob Burton.

“The bylaw allows the town to continue collecting fees from developers to help fund growth at a manageable pace in the years ahead.”

Oakville’s population is expected to grow to approximately 246,400 by 2031.

Town staff said development charges provide a considerable funding source to build the infrastructure required to accommodate this anticipated growth.

Over the past year, Town staff said they worked closely with consultant Watson & Associates Economists Ltd., and engaged development industry representatives to develop a bylaw that meets Oakville’s future infrastructure needs.
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Author: Mayor Rob Burton

Categories: News

Tags: Growth

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