Bill 108 became the More Homes, More Choice Act: Summary Impact to Willowdale
What is this regulation?
Bill 108 became the More Homes, More Choice Act on June 6, 2019. Regulations are put forward to implement the Act, two of the regulations were completed in August 2019 and implemented.
The one remaining regulation to be put in place is the regulation surrounding the funding formula for the Community Benefits Charge (CBC) which replaces Section 37 and Section 42. This funding formula is what allows municipalities to build new parkland and community benefit infrastructure.
Why did this government change the policy?
This provides a consistent approach for CBC items in the Province of Ontario. Ultimately allowing land Developers to have cost certainty on the levies and charges they will pay back to municipalities. As the theory goes, this approach will help increase the supply of new affordable housing units. Those that have dug deeper into the analysis do not believe that this will be an effective approach and will limit the city’s ability to pay for local projects aimed to absorb increased density.
What does this mean for Willowdale?
Based on a recently published City of Toronto report, along with some independent expert analysis, new development in the North York Centre Secondary Plan would contribute significantly less to parkland and community benefit infrastructure in Willowdale. Example, if the proposed funding model were in effect for the site location at 4800 Yonge, the city would receive ~ $9 million dollars less for community benefit projects. Based on the number of future site location we expect to see a multi-million dollar loss in funding for our community.
What needs to change?
This regulation needs to contemplate areas in Ontario which have already reached high population densities (North York Centre, Yonge & Eglinton and Downtown Toronto) and which require a higher CBC funding formula. Willowdale has reached its population targets of 2041 and more funding is required for appropriate parkland and community benefit infrastructure.
Comments in the consultation
EYCA, WLNA, WWNA and WCRA will be submitting comments in this consultation period. It is also helpful for residents to submit their comments in the consultation. Please contact your respective association to review their submission.
The deadline for submissions is April 20, 2020 at 11:59pm this can be done at: https://ero.ontario.ca/notice/019-1406