Council freezes development charges

Toronto is freezing development charges to help ease the impact of the economic downturn.

Council voted on the last week of February to keep charges paid by builders the same for two years. Without the freeze, development charges would rise dramatically.

A study by city finance staff recommended increasing the charges by 130 per cent for commercial developments and 100 per cent for residential developments.

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Posted: Mar 5 2009 9:41 am
Filed under: News