• We are counsel to Nobleton…

• We are counsel to Nobleton York Holdings Inc., the owner of approximately 21 hectares of land located in the southeast quadrant of Highway 27 and 15th Sideroad in Nobleton. Our clients have submitted an application to develop their lands with 170 dwelling units and a 1.393 hectare parkland/underground stormwater management facility.

• Our client has significant concerns with the land value maximums in the CBC Regulation, and their potential impact on levies imposed for the Proposed Development.

• Based on a review of the impact on the proposed land value maximums, our client’s land economists undertook a cost comparison of municipal levies under the current and CBC regime. They estimate that the total levies for the Proposed Development will be 22% - 26% higher under the CBC regime.

• Our client’s land economists’ report shows that the CBC regime is not revenue neutral. This undermines the intent of the More Homes, More Choice Act, 2019 (the “MHMCA”) to increase the supply of housing and make housing more affordable.

• The CBC regime appears to fail to recognize previously-arranged contributions under the current regime.

• Our client respectfully asks that the Province consider the following:

1. Reducing the proposed land value caps to ensure reasonable CBC payments that
reflect and safeguard the intent of the MHMCA, the principle of revenue neutrality
and the policy objective of “More Homes, More Jobs”; and,

2. Grandparenting all existing complete zoning and subdivision applications so that
they are governed by current law, or alternatively, ensuring that all previouslyarranged or paid contributions are recognized as credits in future CBC
payments.

A more detailed explanation of our client’s concerns and comments can be found in the attached letter. Thank you for the opportunity to provide comments.