Ontario is moving ahead with planned audits of some GTA municipalities after officials in those communities raised concerns about losing out on hundreds of millions of dollars of revenue as a result of the province’s decision to slash development charges.
In a press release issued on Thursday afternoon, the Ford government said that it was initiating a procurement process to identity third parties to review the finances of Toronto, Mississauga, Caledon, Brampton, Newmarket and the Region of Peel.
“We are working with our municipal partners to get a factual understanding of their finances to ensure development charges, and the ability to invest in local services and projects, are supporting rather than hindering housing supply growth,” Minister of Municipal Affairs and Housing Steve Clark said in the press release. “This is critical to ensuring all levels of government work together to tackle the housing supply crisis and reach our goal of 1.5 million homes by 2031.
He has also accused Mississauga Mayor Bonnie Crombie of refusing to “play in the sandbox” over her criticism of Bill 23.Toronto officials have said that the city stands to lose out on $200 million in annual revenue as a result of the changes in Bill 23.
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