Quinte West is preparing to slash development charges in order to qualify for funding through the Province of Ontario’s Development Charges Reduction Program.
Councillors discussed a motion to sign an agreement in principle to lower development charges by 30% or more during Wednesday’s meeting of council.
The development charges reduction program offers funding to municipalities for infrastructure projects tied to new development in exchange for reducing development charges for builders. To qualify for funding, municipalities are required to reduce development charges by 30 to 50 per cent over three years.
Applying for the program requires an agreement in principle to reduce the charges, subject to funding approval, and maintain the lower rates for three years.
The motion passed after brief debate.
