Ontario municipalities say they risk losing $5 billion in revenue and that major tax hikes and service cuts will follow
Mississauga City Councillor Carolyn Parrish stops short of calling it panic. But in her 38-year political career, she says she has never seen the kind of stunned apprehension that Ontario’s More Homes Built Faster Act has evoked among municipal officials.aimed at building 1.5 million more homes in the next decade will freeze and reduce the development fees cities charge developers for the infrastructure to support the residents their buildings will house.
“I hope everyone enjoys the next four years because we’ll all be thrown out. will blame us,” she told her fellow councillors. “Right now, we have no guarantees from either level of government that cities will be made whole,” said Mayor Bonnie Crombie. Mayor John Tory said the province is “taking money that otherwise would have come to us to pay for growth and leaving it in the hands of the developers and leaving us with the bill.”
“The things that I think we need the most of will be provided as a reduction or an exemption, and it’s all for the same purpose, it’s to get those baseline costs lower.” But Queen’s Park critics and housing advocates say that’s a vague promise of insufficient funds. They say there is nothing in Bill 23 that compels developers to build the kind of affordable rentals and supportive housing that protects against homelessness.
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