Cambridge’s Downtown Development Charges up in the Air?

May 11, 2009 at 1:17 pm Leave a comment

There has been recent talk of axing development charges for Cambridge’s three downtown cores. Development charges are fees the city levies on developers to cover the growth-related cost of building new infrastructure. The skyline of Galt could change significantly if developers can convince the city not to reinstate development charges in downtown cores. One the options being considered would give council the ability to waive charges on a case-by-case basis if the development incorporated green technology or preserved the city’s heritage or environment.

City planners are currently undertaking the mandatory five-year review of city development charges. Officials have to file any changes with the province before July 1 or no development charges can be levied for the next five years.

Among the many changes eyed is the reinstatement of development charges in the city’s three downtowns and revising portions of the financial incentives package designed to spur growth. At Monday’s meeting, developers were lining up to urge council to maintain existing exemptions and incentive programs.

Source: CambridgeTimes.ca

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Entry filed under: Cambridge. Tags: , , , , .

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