Regional Council - Special Meeting

receive the presentation by Erin Mahoney, Chief Administrative Officer.

receive the presentation by Benjamin Tal, Deputy Chief Economist, CIBC World Markets.

receive the presentation by Erin Mahoney, Chief Administrative Officer and Laura Mirabella, Commissioner, Finance and Regional Treasurer.

Council amend recommendation 1 as follows: With immediate effect, defer development charges payable on all residential development: For high rise buildings, interest free for 24 months and then with interest until the earlier of 4 years or registration of condominium For low rise buildings, interest free until building permit issuance A recorded vote on this item was: For: G. Chan, M. Chan, Del Duca, DiPaola, Ferri, Ho, Jolliffe, Jones, Li, Scarpitti, Vegh, West (12) Against: Davison, Jackson, Lovatt, Mrakas, Pellegrini, Quirk, Rosati, Taylor (8) Absent: Hackson, Racco (2)

defer consideration of recommendations 2 to 7 until staff report back in June 2025. A recorded vote on this item was: For: Scarpitti, West (2) Against: G. Chan, M. Chan, Davison, Del Duca, DiPaola, Ferri, Ho, Jackson, Jolliffe, Jones, Li, Mrakas, Pellegrini, Quirk, Rosati, Taylor, Vegh (17) Absent: Hackson, Lovatt, Racco (3)

Council amend recommendation 2 as follows: 2. Defer 100% of the development charges payable on all non-luxury rental, provided that the building be operated as a non-luxury rental for a minimum of 40 years, with the effective date to be retroactive to April 3, 2025 .

immediate effect, defer development charges payable on all residential development : For high rise buildings, interest free for 24 months and then with interest until the earlier of 4 years or registration of condominium For low rise buildings, interest free until building permit issuance Council refer the following recommendations for inclusion in the Development Charges (DC) policies update report coming forward in June 2025: Defer 100% of the development charges payable on all non-luxury rental, provided that the building be operated as a non-luxury rental for a minimum of 40 years, with the effective date to be retroactive to April 3, 2025 . Staff continue to review all options to mitigate development charges rate increases as part of the 2026 Development Charges Bylaw. Staff assess impact of necessary financing for the proposed residential deferrals, as part of the 2026 Budget and Fiscal Strategy. Staff assess the impact and develop a financial strategy, including funding advocacy, to support the repeal of the Region’s Development Charges Interest Policy – Under sections 26.1, 26.2, and 26.3 of the Development Charges Act, 1997. Council consider a First-Time Home Buyers’ development charges equivalent rebate subject to receipt of new funding from other levels of government. Continued Advocacy Staff prepare resolutions requesting increased, predictable and direct funding from the federal and provincial governments to support the Region’s housing challenges, initiatives, a

receive the deputation from Danielle Binder, Jason Bottoni and Randy Peddigrew, Building Industry and Land Development Association (BILD).

receive the correspondence from Victoria Mortelliti, Senior Manager of Policy & Advocacy, Building Industry and Land Development Association (BILD) dated April 2, 2025.

enact Bylaw No. 2025-24 to confirm the proceedings of this meeting of Council.

adjourn the meeting at 2:37 p.m. Regional Clerk Minutes confirmed and adopted at the meeting of Council held on April 24, 2025. Regional Chair