City staff are warning that the loss of development charges mandated in the Ontario government’s housing plan could have a serious impact on Toronto's ability to implement its Housing Action Plan.
Released Tuesday, the plan lays out a roadmap for achieving or exceeding the provincial housing target of 285,000 new homes in Toronto over the next 10 years. The plan aims to increase housing supply, housing choice and affordability through a range of actions and policies and recommends that key staff report back annually on the progress of the plan, with the first report expected to be tabled before the end of this year.
The move is projected to cost the city $200 million a year in revenue. The province has said, however, that it will make Toronto ”whole" for any loss of revenue arising from the new law. However the province has at the same time said that they want to send in auditors to make sure that the city isn't wasting money and Premier Doug Ford has said that much of the lost revenue can probably be found in reducing wasteful spending. Though he has offered no evidence of waste so far.
Staff go on to say that if Toronto is not fully reimbursed for the loss of revenue, and in the absence of any new revenue tools, “the city will not be able to provide the services and investments essential to support growth even in the short term, deliver housing programs necessary to scale up supply, and plan for complete communities.”
“I will remind him of that promise around Bill 23,” McKelvie said. “We are working with them around the audit and the terms of that audit. They have said that they want to have a full accounting, a full look at the costs that we think will be incurred by us, the lost revenue. They have made that commitment to keep us whole and we're going to try to hold them to that as much as we can.”
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