HomeMy WebLinkAboutCRPS-06-122 - Amendment to Development Charge Credit and Refund Agreement with Lyndale Estates Limitedl
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Corporate Services
Report To: Finance & Corporate Services Committee
Date of Meeting: August 21, 2006
Submitted By: Fiona M. McCrea, Assistant City Solicitor
Dan Chapman, Director of Financial Planning & Reporting
Prepared By: Fiona M. McCrea, Assistant City Solicitor
Wards} Involved: Ward 2
Date of Report: August 14, 2006
Report No.: CRPS-06-122
Subject: Amendment to Development Charge Credit and Refund
Agreement with Lyndale Estates Limited
RECOMMENDATION:
That the Mayor and Clerk be authorized to execute an Amendment to the Development Charge
Credit and Refund Agreement with Lyndale Estates Limited that provides for the collection of
development charges on lots within the plans of subdivision owned by Lyndale Estates Limited
for which building permits are yet to be issued and remittance of an amount equal to the
development charges so collected to Lyndale Estates Limited in lieu of the application of
development charge credits upon building permit issuance, on terms and conditions satisfactory
to the City Solicitor.
BACKGROUND:
On March 8, 2004 Council approved an Agreement with Lyndale Estates Limited for the
granting of service in lieu credits for the development charges payable within the Lyndale South
(30T-97014) and Lyndale North (30T-97015) Plans of Subdivision, an annual reimbursement to
Lyndale Estates Limited of $200,000.00 commencing in 2005, and allocating future
development charges received from a part of the abutting lands within the Grand River South
Pumping Station benefiting area (Plan of Subdivision 30T-00201) all to reimburse Lyndale
Estates Limited towards the costs related to the construction of the sanitary pumping station,
forcemain and related appurtenances. The Agreement was entered into on or about April 26,
2004.
REPORT:
City staff have received a request from Lyndale Estates Limited to amend the Agreement to
provide for the City collection of development charges on the balance of the lots (being those for
which a building permit has not yet been issued) in Plans of Subdivision 30T-97014 and 30T-
97015 and remittance to Lyndale Estates Limited of the development charges collected.
Currently, the City allocates development charge credits against the development charges
payable for each lot when a building permit is issued to an individual builder in accordance with
the City's usual procedure. Lyndale Estates Limited has advised of some difficulty in collecting
the equivalent amount of the credit from the individual builders and is requesting the City's
assistance by collecting the development charges in the usual fashion and reimbursing Lyndale
Estates an amount equal to the credit it is otherwise entitled to from the development charges
collected. The process for the Lyndale lands will then be substantially the same as the process
the City has in place to reimburse Lyndale from the development charges collected from the
abutting lands.
Finance and Building staff have reviewed this request and the change to the City's procedures
for the allocation of credits and are agreeable to the amendment requested provided Lyndale
Estates Limited notifies its builders of the change, a specific date for the implementation of the
change is agreed upon and that reimbursement of an amount equal to the development charge
credits on plans of subdivision 30T-97014 and 30T-97015 be semi-annually.
FINANCIAL IMPLICATIONS:
N/A
COMMUNICATIONS:
This report has been circulated to Finance, Building, Planning and Engineering staff who
support the proposed recommendation.
Fiona M. McCrea
Assistant City Solicitor
c.c. Pauline Houston
Rob Browning
Jeff Willmer
Rob Shamess
Mike Selling
Martina Schneider
Ruth-Anne Goetz
Dan Chapman
Director of Financial Planning and Reporting