Thu, 01 Mar 2018
To ensure Oakville continues to recover a significant share of costs associated with growth-related services and infrastructure, Council approved the Development Charges (DC) Background Study and passed DC By-law 2018-001 at this week’s meeting. According to the study findings, the net costs required from DC charges over the next five years to finance planned residential and non-residential growth infrastructure is more than $199 million. As a result, on average the residential development charge will increase by 27 per cent, depending on the unit type; with the non-residential charge to decrease by three per cent.
“Growth and development in Oakville should pay its way rather than being financed through taxpayer dollars,” Mayor Rob Burton said. “The by-law allows the town to continue collecting fees from developers to help fund growth at a manageable pace in the years ahead.”
Consistent with the province’s Places to Grow legislation, Oakville’s population is expected to grow to approximately 246,400 residents by 2031. DCs provide a considerable funding source to build the infrastructure required to accommodate this anticipated growth. DCs are applied to construction of new residential and industrial/commercial properties, and are charged to developers to pay for town capital projects that service new growth including roads, transit, sidewalks and streetlights.
Over the past year, town staff worked closely with consultant Watson and Associates Economists Ltd. and engaged development industry representatives to develop a by-law that meets Oakville’s future infrastructure needs.
Oakville’s growth management strategy is guided by the town’s Livable Oakville Official Plan and Halton’s Regional Official Plan. Both levels of government are committed to ensuring that growth pays for itself to the extent allowable under the Development Charges Act, 1997, minimizing the impact on existing taxpayers.
The Act requires that a new by-law is enacted within five years of the passing of the previous by-law. Oakville’s new by-law is effective February 28, 2018.
For more information visit our Development Charges page.