Development Charges Study Presentation to City Council May 27th, - - PowerPoint PPT Presentation

▶

Mar 30, 2024 206 likes •334 views

City of Greater Sudbury Development Charges Study Presentation to City Council May 27th, 2014 Purpose 1) Review feedback from Community Consultation 2) Seek City Councils direction on Policy related matters 3) Discuss options for DC Rates

SLIDE 1

City of Greater Sudbury Development Charges Study Presentation to City Council May 27th, 2014

SLIDE 2

Purpose

1) Review feedback from Community

Consultation 2) Seek City Council’s direction on Policy related matters 3) Discuss options for DC Rates

For City Council decision on June 10th

SLIDE 3

Community Consultation Process

Treasurers Reports on Revenues and Expenses: Annually
Growth Forecast: Spring 2013
Commencement of Development Charges Study:

November 2013

Release of Draft DC Study: April 11, 2014
Public Open House: April 23, 2014
Public Input Meeting: May 6th, 2014
On-Line Comments: May 13th, 2014
Staff Attendance at Meetings: April to May

SLIDE 4

Summary of Feedback Received

General agreement on key principle that

“growth should pay growth costs”

Questions about the calculations of the DC

eligible share of Capital Projects

Concern with increase in proposed DC rates

– More specifically the increase in the Single Family Dwelling Rate and Semi Detached dwelling from Multiple to Single

SLIDE 5

Summary of Feedback Received

Exemptions to encourage intensification
Need to revisit the Development Cost Sharing

Policy

– Clarification of Local Services Costs

SLIDE 6

Decision Tree: DC Rates

Approve Increased DC Rates? No Yes Proposed Rates July 10/14 (Option 1) Phase in ALL Increasing Rates (Option 2 & 3) Phase in ONLY Semi Detached Rate Freeze (Option 4) Freeze, Except Phase in Semi Rate (Option 5) How Long? 2 to 5 years How Long? 2 to 5 Years

SLIDE 7

Options

Single

(per Unit)

Semi Detached

(per Unit)

Multiple

(per Unit)

Industrial

(per Sq.ft)

Non-Industrial

(per Sq. ft)

Current Rate (until July 9th, 2014) $14,785 $9,258 $9,258 $4.33 $10.08 Option 2: Phase in Over 2 Years $15,974 / $17,163 $13,211 / $17,163 $9,678 / $10,098 $4.54 / $4.75 $8.83 Option 3: Phase in Over 3 Years $15,578 / $16,370 / $17,163 $11,893 / $14,528 / $17,163 $9,538 / $9,818 / $10,098 $4.47 / $4.61 / $4.75 $8.83 Option 4: Freeze $14,785 $14,785 $9,258 $4.33 $8.83 Option 5: Freeze & Phase in Semi $14,785 $12,022 / $14,785 $9,258 $4.33 $8.83 Option 1: Proposed Rates $17,163 $17,163 $10,098 $4.75 $8.83

SLIDE 8

Financial Implications of Options

OPTION 1: Proposed Rates OPTION 2: Phase in Over 2 years OPTION 3: Phase in Over 3 years OPTION 4: Freeze OPTION 5: Freeze & Phase in Semi Estimated Revenue Loss as disclosed in Council report n/a $0.6 M $1.1 M $4.6M $4.6 M +

SLIDE 9

Policy Decisions

Exemption of Designated Areas in Town

Centres and BIAs

Affordable Housing Exemption
Redevelopment Credits – proposed increase

from 2 to 5 years

Rates: Effective July 10th, 2014 and annual

indexing July 1 of each year

SLIDE 10

Next Steps:

Seeking City Council direction on Policy issues
Continuation of Excemption for Designated Areas and

BIA (former Town Centres)

Affordable Housing Exemption
Seeking City Council direction on Options for the approval
f DC Rates effective July 10th, 2014
Staff recommend that 2-3 options be referred to the

June 10th City Council Meeting

June 10th, 2014: City Council to approve the DC Rates
June 24th, 2014: City Council to approve By-Law

SLIDE 11