The Town of Perth is moving ahead with an application for provincial and federal funding that could see development charges reduced by up to 50 per cent for five years in an effort to encourage new housing construction.
Council’s committee approved applications to the Canada-Ontario Development Charge Reduction Program before the June 19 deadline.
If approved, the Town would commit to lowering development charges while accelerating major infrastructure projects tied to future growth through 2035.
Projects identified in the Town’s development charge study include a second water tower north of Highway 7, a new arterial road, infrastructure beneath Highway 7, portions of a proposed recreation facility, and a potential new environmental services shop (public works garage).
The funding program was announced earlier this year as part of the Canada-Ontario Partnership to Build initiative, aimed at increasing housing supply and lowering housing costs across the province. Municipalities must agree to cut development charges by between 30 and 50 per cent for at least three years to qualify.
Town staff note the program is expected to be highly competitive and there is no guarantee funding will be approved. If the application is unsuccessful, Perth would not be required to reduce development charges.
Story by Brian Turner
