The Association of Municipalities of Ontario has said the new law could leave municipalities short $5 billion and see taxpayers footing the bill
— either in the form of higher property taxes or service cuts — to pay for infrastructure that supports new housing. It has also said there is nothing in the bill that would guarantee improved housing affordability.Article content
Ford said Mississauga has increased its fees on new homebuyers by nearly 30 per cent in the last two years and that makes it difficult for people to buy a home. He also accused Mississauga of not fully spending the development charge revenues it gets now, saying the city is sitting on millions of dollars in development charge reserves.
Crombie said development charges do go into reserves, but municipalities are not simply sitting on the money, rather they are treated like savings going toward future long-term projects, akin to a homeowner saving up for a new roof.
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