Ontario will backstop cities if they are left short of cash by a new provincial law that exempts housing developers from some fees, but Municipal Affairs and Housing Minister Steve Clark cautions housing targets could be hard to meet.
exempting developers from some fees — money that would otherwise fund new roads and sewers — leaves them short of cash, says Ontario’s minister of municipal affairs and housing.
“So, interest rates, inflation in our country is at a point where I can only control things that are in my purview,” he added. However, municipalities have complained the break on development charges will make it harder for them to service building lots, leaving them with a cumulative shortfall in revenue of as much as $5 billion.
At Queen’s Park, Green Leader Mike Schreiner said Tuesday the government housing policy is shaping up as a “failure” already and took fresh aim at Premier Doug Ford’s move to open up 7,400 acres of the protected Greenbelt for housing when other land is already available.
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