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HomeMy WebLinkAboutFIN-09-036 - Update on Development Charges BackgGround Study Process1 KzTC~ R - - • - Finan cia!Services Report To: Councillor B. Vrbanovic, Chair, and Members of the Finance and Corporate Services Committee Date of Meeting: March 2, 2009 Submitted By: Dan Chapman, General Manager of Financial Services Prepared By: John Sonser, Senior Financial Analyst Ward(s) Involved: All Date of Report: February 25, 2009 Report No.: FIN-09-436 Subject: UDATE ON DEVELOPMENT CHARGES BACKGROUND STUDY PROCESS RECOMMENDATION: For information. REPORT: The purpose of this report and attached presentation is to update the City's Finance and Corporate Services Committee on the progress of the City's new Development Charge {DC) Background Study and associated By-Law. The presentation will be made by consultants from Hemson Consulting, who have been retained by the City to assist with the study process. The topics to be covered include a brief primer on development charges and the City's obligations under the Development Charges Act when passing a new By-Law. The work completed to date, as well as the next steps required to establish new development charge rates, will also be discussed. The consultants will outline the issues that are being addressed as part of a review of the City's current development charge policies and practices. Finally, the results of ongoing consultations with industry stakeholders will be summarized, along with the time line to complete the work. The presentation will also provide Council with an early opportunity to offer input on the DC background study process and/or issues to be considered through the course of the review. FINANCIAL IMPLICATIONS: NIA 6~"Y~ Dan Chapman, CA PA John Sonser, CMA General Manager of Financial Services Senior Financial Analyst W Z W V 0 V H W V Q V Z W L J W W O~ 0 N N D Z U Q m 0 V N V .~ i H O O V 4~ V .~ O~ 0 0 N N s i -~ C O ._ N 0 V Z NC G W a V D ... 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