Ontario Construction News staff writer
Mississauga council has approved three new by-laws for growth funding charges to help pay for infrastructure including Development Charges, the Parkland Conveyance By-law – which will be implemented with a gradual phase-in period until 2023.
“Developers are required to pay their fair share; however, these charges alone are not enough to cover the many costs to support our growing city,” said Shari Lichterman, commissioner of corporate services and chief financial officer.
“The city is not immune to high construction costs, increasing land values and inflation. We have very few funding sources to meet our growing list of demands. When building new infrastructure like libraries, transit, overpasses, bike lanes and roads we must also look to property taxes and funding from higher levels of government to close the gap.”
Two recently announced grant programs will provide eligible affordable rental housing developments and non-profit organizations who provide long-term care homes, hospices, shelters and transitional housing with grants to offset the City’s portion of development charges.
The Development Charges By-law, Community Benefits Charge By-law and Parkland Conveyance By-law take effect on June 23, 2022.
Learn more about Mississauga’s growth charges.