NEWMARKET – York Regional Council has approved the enactment of a Development Charge By-law to establish a revised development charge, with an effective date of June 23, 2003. The existing Development Charge By-law expires June 25, 2003.

Development charges are a major source of funding for the Region’s $8 billion growth-related capital program to the year 2026. The development charges help finance capital works required for growth in the area municipalities of York Region.

"York Region’s population increased by 42,000 people in 2002, a growth of 5 per cent over the prior year. We have approved a new Development Charge By-law that reflects our current and future growth," said Regional Chair and CEO Bill Fisch. "This by-law endeavours to be fair to both residential and non-residential developers."

Major highlights of the 2003 By-law include:

• The Development Charge by-law will be in effect for a four-year term, with staff to further meet with representatives from the non-residential development sector over the next 12 months.

• The phase-in of the non-residential growth-related cost recovery will take place in four steps over the period of the development charge by-law.

• The phase-in of transit growth-related cost recovery in four steps over the period of the development charge by-law, with each step dependent upon the percentage completion and proportionate Regional, Provincial and Federal funding of the transit capital plan.

• Staff is also directed to review Development Charge options for encouraging development in regional centres and corridors.

"The revised by-law is reflective of York Region’s sound financial management and business practices," said Town of Aurora Mayor Tim Jones, Chair of the Finance and Administration Committee. "Our business strategy incorporates a framework for continuous improvement and ensures that growth pays for its fair share."

Regional Council has established the following rates under its revised Development Charge By-law:

• A residential single-family dwelling development charge rate set at $11,981 for the initial step

• A non-residential non-retail development charge rate set at $2.75 per sq. ft. for the initial step

• A non-residential retail development charge rate set at $3.85 per sq. ft. for the initial step

For more information, please see attached Development Charge By-law Fact Sheet.

Contact: Patrick Casey, Senior Media Relations Specialist, York Region

-(905) 830-4444, ext. 1235

NEWMARKET – The following is a breakdown of residential and non-residential DC Rates to be phased-in in four steps over the four-year term of the DC By-law.

Contact: Patrick Casey, Senior Media Relations Specialist, York Region

-(905) 830-4444, ext. 1235