Cutting development charges 50% to qualify for provincial DCRP funding

Councillor Votes

Full Resolution Text

Whereas the Government for the Province of Ontario announced on 1 June 2026 the creation of a Development Charge Reduction Program (the "DCRP”). And whereas municipalities which have reduced their development charges which were in effect as of 30 March 2026 by 30-50% will be eligible to apply for funding under the DCRP and City Council desires the City to obtain its equitable share of such funding. And whereas City Council has elected, as a precondition of eligibility to apply for funding from the DCRP, to reduce the City's development charges by 50% (inclusive of any area-specific development charges), which were in effect as of 30 March 2026, for all new residential development for the next 3-years. And whereas the DCRP has been designed to provide up to $8.8 billion in federal and provincial capital funding to enable Ontario municipalities to unlock more housing supply by providing partial relief to their builder community from development charges for 3 years; and prioritizing investments in housing- enabling infrastructure over 3 years. And whereas the DRCP requires a project which has benefitted from the said DC Rate reduction to start no later than 31 July 2030 and be completed no later than 2035. Now therefore be it resolved that: 1. The Corporation of the City of Peterborough will reduce its development charge rates, inclusive of any area-specific development charges, (the “DC Rate”), in effect on 30 March 2026, by 50% as of 30 June 2026 and to maintain that reduction on all new residential development types (the “DC Rate Reduction”) until a date which is 3-years plus a day after the City amends its current development charge by-laws to align with the DRCP Program’s objectives; 2. Staff are directed to apply the DC Rate Reduction to all new residential development types when the DC Rate Reduction is in effect; 3. The City Treasurer and the Commissioner of Infrastructure Planning and Growth Management, in consultation with each other, are authorized and directed to do such things as necessary to submit an application under the DCRP Program on or before the 19 June 2026 deadline; 4. The City Treasurer and the Commissioner of Infrastructure Planning and Growth Management are authorized and directed to determine which housing-enabling infrastructure projects will best support the creation of new housing and thus be prioritized. 5. The City Treasurer is authorized and directed to amend the applicable by-laws to align with the DRCP’s objectives and thereafter to submit such amending by-laws to the City Clerk and Mayor for signing. 6. If the City is selected to receive funding under the DCRP, then the City’s Chief Administrative Officer and City Clerk are authorized and directed to do such things, including but not limited to executing agreements with the Province of Ontario, as are necessary to secure DCRP funding.