Flato will pay half of DCs after its apartment building is up

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Southgate agreed to a “half now, half later” arrangement for Development Charges for the Flato apartment building suitable for senior living.

The DC charges are substantial, estimated at about $800,000 on the basis of the 80 units planned .

The province has approved measures like this to support affordable rental housing.

At Grey County, policy has been put in place with the same goal, allowing instalments over five years for the County DCs.

Staff noted that Grey County is considering not charging DCs for rental apartment units in future to address the rental housing shortage.

Development charges are used to pay capital costs that are associated with growth, and are calculated based on projections of future municipal expenses. Funds are held in reserves by the municipality until needed.

M.T. Fernandes, Local Journalism Initiative Reporter, Dundalk Herald