4 DEVELOPMENT CHARGE CREDIT REQUEST HOOVER THIRTY DEVELOPMENTS LIMITED HOOVER PARK DRIVE AND YORK-DURHAM LINE TOWN OF WHITCHURCH-STOUFFVILLE

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1 Report No. 5 of the Finance and Administration Committee Regional Council Meeting of May 16, DEVELOPMENT CHARGE CREDIT REQUEST HOOVER THIRTY DEVELOPMENTS LIMITED HOOVER PARK DRIVE AND YORK-DURHAM LINE TOWN OF WHITCHURCH-STOUFFVILLE The Finance and Administration Committee recommends the adoption of the recommendations contained in the following report dated April 18, 2013, from the Commissioner of Finance. 1. RECOMMENDATIONS It is recommended that: 1. Council authorize a development charge ( DC ) credit in the amount of $300,777 for the growth-related component (development charges) of the intersection improvement works undertaken and completed to the satisfaction of the Commissioner of Transportation and Community Planning by Hoover Thirty Developments Limited in the Town of Whitchurch-Stouffville. 2. The Regional Treasurer be authorized to fund the growth component of the development charge credit, totalling $300,777, from Regional Roads DC reserves. 2. PURPOSE This report is to authorize a development charge credit for intersection improvements performed by Hoover Thirty Developments Limited at Hoover Park Drive and York- Durham Line in the Town of Whitchurch-Stouffville in advance of the construction timing projected in the Regional Roads Capital Program. This report also seeks authorization to fund credits approved by Council from Regional Roads DC Reserves. 3. BACKGROUND At its May 9 th and May 23 rd, 1996 meetings, Regional Council approved a detailed DC credit policy for capital works undertaken by the developer in advance of the planned capital program (subsequently amended June 18, 2007 as part of the passing of Regional DC By-law No. DC ). Hoover Thirty Developments Limited has forwarded a request to the Regional Transportation and Community Planning Department for the consideration of DC credits

2 Report No. 5 of the Finance and Administration Committee Regional Council Meeting of May 16, 2013 for the intersection improvements at Hoover Park Drive and York-Durham Line in the Town of Whitchurch-Stouffville (see Attachment 1). 4. ANALYSIS AND OPTIONS Hoover Thirty Developments Limited has requested a Development Charge Credit of $374,249 Hoover Thirty Developments Limited developed a residential subdivision in the Town of Whitchurch-Stouffville. In order to proceed with the development of the lands, the developer was required to undertake intersection improvements at Hoover Park Drive and York-Durham Line in advance of the planned reconstruction program at a cost of $374,249. Link to key Council-approved plans The collection of Development Charges in accordance with the policies of the DC Bylaw is an indicator of success for York Region s 2011 to 2015 Strategic Plan objective to practice sound fiscal management. 5. FINANCIAL IMPLICATIONS Residential development benefiting from the intersection improvement totals 417 units The residential subdivision benefiting from the intersection improvements consists of 417 units. Buildout of this subdivision has resulted in Regional development charges of approximately $11.9 million, including $3.9 million for the roads component. It is proposed that a total DC Credit of $300,777 be permitted The Regional Transportation and Community Planning Department has reviewed the request submitted by Hoover Thirty Developments Limited, in accordance with the approved DC credit policy, and has determined that $300,777 of the total value of the intersection improvement is eligible for consideration through the DC credit process (see Attachment 2). Therefore, it is proposed that a payment of $300,777 to Hoover Thirty Developments Limited be authorized. The payment consists of $300,777 for the growth component of the works. As the subdivision has been built out, and the road DC for the subdivision has been paid in full, it is recommended that the growth-related component DC credit to be funded from Regional Roads DC reserves.

3 Report No. 5 of the Finance and Administration Committee Regional Council Meeting of May 16, 2013 These intersection improvements for Hoover Park Drive and York-Durham Line were not included in the Region s Year Capital Program and were scheduled in the year In accordance with the DC credit policy, in order to advance the road works from the planned timing, the developer is responsible for the non-growth component of the works. Therefore, the non-growth component of the intersection improvement for Hoover Park Drive and York-Durham Line in the amount of $33,420 is not eligible for recovery. The non-growth discounting methodology associated with this request is outlined in Attachment 3. It is proposed that a DC Credit be permitted for the growth-related component of the works in the amount of $300,777. The developer has been contacted and is in agreement with the credit amount. 6. LOCAL MUNICIPAL IMPACT The road improvements benefit the Town of Whitchurch-Stouffville by improving traffic flow along Hoover Park Drive and York-Durham Line. The intersection improvement also facilitates the buildout of other subdivisions in the Town of Whitchurch-Stouffville. 7. CONCLUSION The DC credit request submitted by Hoover Thirty Developments Limited has been reviewed in accordance with the approved DC credit policy. It is proposed that a reimbursement be made as the works have been completed to the satisfaction of the Commissioner of Transportation and Community Planning and there are no future phases to this development. The $300,777 reimbursement for the intersection improvements at Hoover Park Drive and York-Durham Line in the Town of Whitchurch-Stouffville is for the growth component only and is to be funded from Regional Roads DC reserves. The developer is not eligible to recover the non-growth costs in the amount of $33,420, as the works were not scheduled in the Regional Year Capital Plan. For more information on this report, please contact Warren Marshall, Director, Controllership Office, at Ext The Senior Management Group has reviewed this report. (The three attachments referred to in this clause are attached to this report.)

4 COUNCIL ATTACHMENT 1 October FILE: 06:112:0#1680 Director, Infrastructure, Design and Construction Branch Transportation and Works Department Regional Municipality of York Yonge Street, Box 147 Newmarket, Ontario L3Y 6Z1,i'l' 'I.! 1-;"1f~!';1 f<', I. t' " " '., "',1\, (Illt.ru, j j'l.'1" T.:! 1"1''',12",.,),,[ I.,.,",< L', '. f'",.ll;!!""ji' ~;.. ':,.'1'1,"':',,,... -' Dear SirlMadame: SUBJECT: APPLICATION FOR DEVELOPMENT CHARGE CREDIT YORK DURHAM LINE AND HOOVER PARK DRIVE REGION FILE NO: W TOWN OF WHITCHURCH STOUFFVILLE REGIONAL MUNICIPALITY OF YORK On behalf of our client, Hoover Thirty Developments Limited, we are pleased to folward the following documentation requesting consideration for development charge credit for works completed on York Durham Line at Hoover Park Drive for the above-referenced project. Please find enclosed the following: Full set of engineering construction drawings including Regional Road cross sections Electrical drawings prepared by Nexgen Utilities Earthwork and roadwork quantity calculations Quantity and cost summary If you have any questions or comments regarding these matters, please do not hesitate to contact our office. Yours truly, SABOURIN KIMBLE & ASSOCIATES LTD. #()~~ Ryan Sabourin RSladj Ene!. cc: Mr. Michael MCLean, Fieldgate Developments Mr. Carlton Smith, Regional Municipality of York Finance Department, Regional Municipality of York

5 Sabourin Kimble & Associates LTD. Hoover Park Drive and York Durham Line Town of Whitchurch Stouffville a) Total cost of works submitted by developer Total Cost $374,249 Regional Cost (DC Credit) Developer Cost b) Amount of works not in ultimate Regional location ($40,052) $40,052 c) Amount eligible for Development Charge Credit (per Development Charge Credit Policy) $334,197 - development charge component 90.00% $300,777 $300,777 - non-growth component 10.00% $33,420 $33,420 Total Share of Capital Costs $300,777 $73,472 Developer Recovery Summary: Total growth-related credit - $300,777 Total non-growth reimbursement - $0 $300,777 Summary: Total cost of works submitted by developer $374,249 Regional Share (DC Credit) $300,777 Developer Share $73,472 COUNCIL ATTACHMENT 2

6 Payment to Developer DEVELOPMENT CHARGE CREDIT Non Growth Discounting Methodology Intersection Improvments - Hoover Park Drive and York-Durham Line Assumptions: Growth Component of capital works: 90.00% Non Growth Component of capital works: 10.00% Interest Rate 1 : 3.40% Eligible works for DC credit: $334, Planned Construction Year # Years to advance Total Eligible for credit Discounted Non Growth 2 Payable to Developer Growth Component (DC) % of Non-Growth Component(Tax Levy) % of (A) (B) (A-B) payment payment $334,197 $0 $334,197 $300, % $33, % $334,197 $1,099 $333,098 $300, % $32, % $334,197 $2,162 $332,035 $300, % $31, % $334,197 $3,190 $331,007 $300, % $30, % $334,197 $4,184 $330,013 $300, % $29, % $334,197 $5,145 $329,052 $300, % $28, % $334,197 $6,075 $328,122 $300, % $27, % $334,197 $6,974 $327,223 $300, % $26, % $334,197 $7,843 $326,354 $300, % $25, % $334,197 $8,684 $325,513 $300, % $24, % $334,197 $9,498 $324,699 $300, % $23, % beyond 2021 >10 $334,197 $33,420 $300,777 $300, % $0 0.0% Notes: 1. Represents a 5.4% interest rate less a 2% rate adjusted for inflation as per the Development charge credit policy. 2. Due to advancing of works in the 10 year capital plan, the non growth component has been discounted, and is the responsibility of the developer. COUNCIL ATTACHMENT 3

Remuneration - Members of Council and Local Boards

Report No. 3 of the Commissioner of Finance was adopted, without amendment, by the Council of The Regional Municipality of York at its meeting held on March 26, 2015. Remuneration - Members of Council