The City is seeking input as it prepares to finalize a strategy that will drive funding for a broad range of community-improving projects via development growth. The City is preparing to finalize its first Community Benefits Charge (CBC) Strategy and By-law that will see developers of high-density residential construction projects contributing to new growth-related capital costs not covered by existing tools such as development charges. Based on population and development projections identified in the study the City could receive $5.2 million in CBC funds over the next 10 years. Costs funded by the proposed CBC can include culture and public realm projects and other initiatives that support livability in the City. Reidents and stakeholders are encouraged to visit engageSTC.ca/CBC to learn more about the City’s draft strategy and offer their feedback via an online survey before June 24.

Source: CBC News June 10, 2022 19:39 UTC