File #: 24-G-231    Version: Name:
Type: Staff Report Status: Carried
File created: 9/30/2024 In control: City Council
On agenda: 10/30/2024 Final action: 10/30/2024
Title: DEVELOPMENT CHARGES APPEAL SETTLEMENT 1. That staff enter into a Section 27 Agreement with the developer of 440 Essa Road attached as Appendix "A" to Staff Report FIN016-24, subject to the agreement conforming with the following general terms and conditions: a) Recognize the frozen rate applicable to the property as of December 2020 plus applicable indexing at a rate of 3.84% per annum b) Permit the development charges to be paid in instalments applicable to rental developments under Section 26.1(3) of the Development Charges Act c) That the terms of the agreement be subject to building permits being issued within 12 months of the agreement. 2. That all appropriate refunds related to the Development Charges (DC) appeal settlement be issued. (FIN016-24)
Attachments: 1. FIN016-24, 2. Appendix A - Section 27 DC Deferral Agreement - 440 Essa

Title

DEVELOPMENT CHARGES APPEAL SETTLEMENT

 

1.                     That staff enter into a Section 27 Agreement with the developer of 440 Essa Road attached as Appendix “A” to Staff Report FIN016-24, subject to the agreement conforming with the following general terms and conditions:

 

a)                     Recognize the frozen rate applicable to the property as of December 2020 plus applicable indexing at a rate of 3.84% per annum

 

b)                     Permit the development charges to be paid in instalments applicable to rental developments under Section 26.1(3) of the Development Charges Act

 

c)                     That the terms of the agreement be subject to building permits being issued within 12 months of the agreement.

 

2.                     That all appropriate refunds related to the Development Charges (DC) appeal settlement be issued. (FIN016-24)