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REPORT TO: Finance and Corporate Services Committee <br />DATE OF MEETING: June 10, 2019 <br />SUBMITTED BY: Jonathan Lautenbach,CFO Financial Services,519-741-2200 ext 7334 <br />PREPARED BY: Ruth-Anne Goetz,Senior Financial Analyst,519-741-2200 ext 7335 <br />WARD (S) INVOLVED: All <br />DATE OF REPORT: April 11, 2019 <br />REPORT NO.: FIN-19-051 <br />SUBJECT: 2018 Development Charge Reserve Fund <br />___________________________________________________________________________ <br />RECOMMENDATION: <br />For Information. <br />BACKGROUND: <br />The Development Charges Act <br />Treasurer submit to Council an annual statement of the Development Charge Reserve Fund. <br />REPORT: <br />Summary of Development Charges Legislation: <br />The Act provides the authority and process for the imposition and collection of development <br />charges. <br />Development charges (DCs) are generally paid as a part of the building permit process, and <br />are collected to fund growth-related capital costs for services as allowed by provincial <br />legislation. Services are grouped into two categories discounted services and non- <br />discounted services. The Act requires that a discount of 10% be applied to the growth-related <br />capital costs for discounted services when calculating development charge rates. Non- <br />discounted services refer to services for which the legislation does not require a reduction. <br />The following table shows which services within the City of Kitchener fit into the discounted <br />and non-discounted categories: <br />CategoryServices within Category <br />Discounted ServicesGeneral Government Studies <br />Parking <br />Indoor Recreation <br />Outdoor Recreation <br />Cemeteries <br />Library <br />*** This information is available in accessible formats upon request. *** <br />Please call 519-741-2345 or TTY 1-866-969-9994 for assistance. <br />IF3 - 1 <br />