Commentaire
A maximum interest rate for deferred development charges should be imposed by the Province, perhaps in line with the Bank of Canada rate.
Otherwise, municipalities could potentially charge double digit rates in an effort to discourage new rental builds. For example, in cities such as Burlington where residents don't want rental units, and most of Council is aligned with the NIMBY sentiments of the constituents, high interest rates would be a way to discourage this form of housing. This would hurt new purpose built rental proforma, therefore making rental housing construction no longer viable.
The deferral of DC's is a step in the right direction to help the economics work for new, purpose-built rental. However, if interest rates are not capped, there is the potential for the opposite to occur.
Soumis le 28 juin 2019 11:30 AM
Commentaire sur
Modifications proposées au Règlement de l’Ontario 82/98 pris en application de la Loi de 1997 sur les redevances d’aménagement concernant l’annexe 3 du projet de loi 108, Loi de 2019 pour plus de logements et plus de choix
Numéro du REO
019-0184
Identifiant (ID) du commentaire
32585
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