City seeking public input on Community Benefits Charge Strategy and By-law

The City is seeking input as it prepares to finalize a strategy that will drive funding for a broad range of community-improving projects via development growth.

The City is preparing to finalize its first Community Benefits Charge (CBC) Strategy and By-law that will see developers of high-density residential construction projects contributing to new growth-related capital costs not covered by existing tools such as development charges. The CBC is a new tool under the Planning Act that allows municipalities to collect a charge against the construction of buildings or structures with five storeys or more and with 10 or more residential units.

“This is an integral tool as we prepare for population growth, especially in high-density settings. A Community Benefits Charge will help ensure growth pays for growth so the City can continue to maintain services and facilities residents rely on and expand them to meet the needs of new residents without heavily impacting tax rates,” said Adam Smith, manager of accounting and payroll, adding, “growth is more than building houses, it is about building communities.”

The CBC rate cannot exceed four per cent of the property’s land value as of the day before a building permit is issued. The CBC is paid as a one-time fee by the property developer or builder.

Based on population and development projections identified in the study the City could receive $5.2 million in CBC funds over the next 10 years.

Costs funded by the proposed CBC can include culture and public realm projects and other initiatives that support livability in the City.

Reidents and stakeholders are encouraged to visit engageSTC.ca/CBC to learn more about the City’s draft strategy and offer their feedback via an online survey before June 24.