Region of Peel. Review of Growth Infrastructure Financing Strategy. Growth Management Committee
|
|
- Drusilla Sullivan
- 5 years ago
- Views:
Transcription
1 Region of Peel Review of Growth Infrastructure Financing Strategy Growth Management Committee June 5, 2014
2 Review of Front-End Financing and Growth Infrastructure Financing Strategy Council adopted the report Capital Financing of Growth Infrastructure on November 28, 2013 and the recommendation: That staff conduct a review to determine which areas of development within the Region of Peel requiring Regional growth infrastructure could be subject to mandatory application of front-end financing agreements and report back to Council. 1
3 Review of Front-End Financing and Growth Infrastructure Financing Strategy To address this request, Watson & Associates has been requested to help: Determine an alternative(s) to the current DC/debt based growth infrastructure funding strategy utilized by the Region to reduce and/or transfer risk from the Region. 2
4 Approach 1. The primary focus of the undertaking is to investigate alternative infrastructure financing approaches utilized and proven in the municipal sector elsewhere in Ontario as well as in North America. (The focus is on financing approaches as opposed to a review of cost mitigation strategies). 2. Identify potential options for Peel Region to consider and outline their advantages and disadvantages within a Peel context including funding sources, who pays, etc. 3. Provide preliminary perspectives regarding a potential new financial strategy (i.e. existing or hybrid) based on the benefits associated with the alternatives. 3
5 How the Region Got to Where it is Today 2007 to 2012 DC Reserve Funds - Many of the major infrastructure projects were funded through Regional DC Reserve Funds which maintained positive balances prior to Revenues - During this period actual DC Revenues ($0.43 billion) lagged the forecast amount ($1.0 billion) by 57%. This was as a result of: Non-residential GFA not realized (i.e. global economic downturn, outsourcing of manufacturing sector, high CDN$, and decline in Ontario employment rate). 4
6 Growth Expenditures & Funding 2007 to 2012 Expenditures - DC Capital Plan spending in the 2007 DC Background Study was $3.3 billion. This increased to $4.8 billion in the 2012 DC Study. 56% of the entire 2012 plan is planned in the first five years and will require. DC Debt Issuance Region to borrow (approx. $2 billion) in order to finance short falls in those years arising from DC related expenditures exceeding DC revenues and fund debt through the recovery of future DCs. $DC per sde - As a result the 2012 DC per single detached unit doubled from $17,830 to $ 35,532. 5
7 Growth Expenditures & Funding Forecast Expenditures Estimated DC capital costs continue to increase. A summary of the 2012 DC expenditures for water, wastewater, and roads over the period, and DC capital plan based on the 2014 budget is as follows (cumulative in millions$): Millions 3,000 2,500 2,000 1,500 1, Budget 2012 DC Study 2014 Budget includes $400,000,000 more than 2012 DC Study in capital costs for water, sewer and roads. 0 6
8 Growth Expenditures & Funding Forecast An increase in $400,000,000 in capital costs for water, wastewater and roads would increase the $DC per single detached unit by approximately $6,000 per unit to $41,000. 7
9 Factors Affecting Development Charge Increases Over Time While overall costs are somewhat the result of more localized issues, a number of factors are observed within the GTA which have contributed to the increase in the charges since passage of the DCA The following provides some commentary on matters impact the DC cost increases for Water and Wastewater 8
10 Factors Affecting DC s - Walkerton Recommendations a) Since Walkerton, significant cost increase in water treatment due to: 9 Requirement for redundancy; Increase in quality measures (e.g. chlorine contact time, ultraviolet treatment, chlorine booster stations, etc.); Operational and reporting requirements (SCADA and other controls); Mandated upgrades of systems within stipulated compliance timing; and Enhanced technology (both in quality management and in treatment approaches).
11 Factors Affecting DC s - Walkerton Recommendations b) Walkerton recommendations also impacted wastewater because of watershed management ( i.e. reduction in phosphorous and ammonia discharge targets) and enhanced levels of treatment (e.g. movement from primary or secondary treatment to tertiary treatment). 10
12 Factors Affecting DC s - Locational Factors Most GTA development occurring well north of Lake Ontario requiring Big Pipe systems to service growth (e.g. Peel/York system to service Aurora/Newmarket, Halton extension to Milton, North Oakville and Halton Hills, Durham extension to Pickering (Seaton)); More northerly locations require large pipes over long distances, pumping, chlorine boosters, big pipe main looping, equalization, land; and Note that prior to 1997, Big Pipe systems were built by the Province (e.g. Elgin, Huron, Essex Union, Peel, York/Durham sewer etc.). More stringent requirements for liner infrastructure emplacement (i.e. tunneling vs. open ditch) 11
13 Factors Affecting DC s - Uncommitted excess capacity When DCA 1997 passed, Uncommitted Excess Capacity was deducted. Over time, as excess capacity is used up, the DC will increase as a result. For example: Year 0 Stage % Handled by Excess Capacity % Required Treatment $ per capita Half the projected growth can be handled by excess capacity. The other half will require treatment of $100/capita. 50% 50% (50% X $0) (50% X $100) $50 $50 Year 5 Growth has used up half of the available excess capacity leaving capacity to service 25% of growth and 75% at $100/capita. 25% 75% (25% X $0) (75% X $100) $75 $75 Year No excess capacity left in the plant. 0'% 100% (0% X $0) (100% X $100) $100 $100
14 Timing of Capital Expenditures Development Timing OPA/ Secondary Plan Draft Approval Subdivision Approval Building Permit Post Occupancy Service Capital Item Water: Treatment Transmission Distribution Local Wastewater Treatment Transmission (Conveyance) Collection Local Stormwater Management Facilities Roads and Related Roads Rolling Stock Library Facilities Collection Materials Transit Facilities Vehicles Parking Parking Spaces Police Facilities Vehicles Police Communication Equipment Police Officer Equipment Health Unit Facilities Ambulance Facilities Vehicles Child Care Facilities Provincial Offences Act Facilities Parks Parkland Development Recreation Facilities Fire Facilities Vehicles Firefighter Equipment Administrative Growth Studies 13 13
15 Types of Development Charges Act Agreements As noted, most hard infrastructure must be emplaced prior to development proceeding often require the municipality to upfront costs in anticipation of growth DCA provides for certain types of agreements to be used to assist in the cash flow of these expenditures: Front-Ending Agreements Accelerated Payment Agreements Service Emplacement Agreements 14
16 Front-Ending Agreements A municipality and one or more landowners may enter into a front-ending agreement which provides for the costs of a project which will benefit an area in the municipality to which the DC By-law applies Such an agreement can provide for the upfront costs to be borne by one or more parties to the agreement who are, in turn, reimbursed in future, by persons who develop land defined in the agreement 15
17 Accelerated Payment Agreements Accelerated agreements most often assist municipalities with cash flow to build specific projects most often applies to water, wastewater and road improvements Usually involves the prepayment of all or a portion of the DC credit provided at the time the DC is payable (i.e. building permit issuance) 16
18 Service Emplacement Agreements Developer may agree to build a specific project most often applies to water, wastewater, parks and road improvements Usually requires a process for identifying the reasonable cost of the work credit provided at the time the DC is payable (i.e. building permit issuance) if the project cost exceeds the credit amount, need to identify how excess amount will be repaid 17
19 Collection Timing/Agreement Use Ontario Major Municipalities Service Emplacement DC Pre- Payment Front-Ending Other Municipality Subdivision Bulding Permit Peel x Res/Non-Res 1 Halton Res Non-Res Included as part of Capacity allocation program Toronto Res/Non-Res x x York Res Non-Res 2 x Durham Res Non-Res 1 Ottawa x Res/Non-Res 2 x Hamilton x Res/Non-Res x Waterloo x Res/Non-Res x x x Barrie Res Non-Res 1 Special Capital Provision also required 1 Denotes use on a limited basis 2 Special conditions for repayment apply Hard Service DC Payment Timing 18
20 Other Canadian Cities City Vancouver, BC Development Cost Levies (DCL); and Community Amenity Contributions (CAC) Financing Approach DCLs cannot legally collect 100% of growth costs, CACs can help fill in the gaps through voluntary contributions provided by developers. Edmonton, AB Permanent Area Contribution (PAC) Rate or area charge was recalculated each year and was derived by dividing the estimated construction cost of the cost sharable items within the cost sharing boundary by the remaining benefitting areas Calgary, AB Permanent Area Contribution (PAC); and Offsite levies bylaw Provide for Community Infrastructure (Fire, EMS, library, police, recreation facilities, buses), water, wastewater, storm and Roads Services Regina, SK Servicing Fees Collecting sewer, water, drainage, roads and related services, administrative services, parks and recreation facilities since The funding shortfalls must be met by an appropriate combination of developer front-end financing and City debt financing. 19
21 USA Financing Approach Description 1. Impact Fees Charged only to new development. Standardized fees as opposed to ad hoc negotiated capital improvements needed to serve new growth. payments; and used to fund 2. Developer Exactions Requirements a local municipality places on a developer to dedicate land or construct or pay for all or a portion of the costs of capital improvements needed for public facilities. Difficult to quantify, but most municipalities use them, with or without impact fees (although with impact fees, you have to give credit for the value of exactions). 3. Development Taxes Functionally very similar to an impact fee is the development tax, which is sometimes also referred to as a development excise tax, privilege tax or facilities tax Special District Financing Development taxes are rarely used and generally require special state enabling legislation, which is absent in most states. Financing the costs of public infrastructure through the imposition of dedicated taxes and assessments on the benefited properties. This financing involves the formation of a public-private partnership whereby a municipality agrees to the creation of a specially designated tax district, where there is an additional special taxes
22 Observations There are not many creative alternatives to funding growth related costs Many of the observed methods are variations on what may be done in Ontario, hence existing tools may provide opportunities for financing works 21
23 Observations Peel requires cash flow assistance to finance the considerable infrastructure costs. Consideration should be given to: Accelerate all hard service collections to the earliest time possible (i.e. subdivision agreement) Should consider if further negotiated agreements may be required (i.e. prepayment agreements or frontending) May need to coordinate approvals with cash flow to minimize debt levels 22
Development Charges Update
5.2-1 Development Charges Update Growth Management Committee February 5th, 2015 5.2-2 Previous Growth Management Financial Presentations Studies undertaken with Watson & Associates to review growth financing
More informationCity of Toronto 2018 Development Charges Bylaw Review. Statutory Public Meeting Executive Committee January 24, 2018
City of Toronto 2018 Development Charges Bylaw Review Statutory Public Meeting Executive Committee January 24, 2018 Today we will discuss 1. Introduction 2. DC Review Process 3. DC Rate Calculation 4.
More informationRegion of Peel. BMO Canadian Fixed Income Conference. May 1 & 2, Spring
Region of Peel BMO Canadian Fixed Income Conference May 1 & 2, 2018 Spring 2018 1 Meet the Region of Peel Table of Contents Who we are 2 Economy 5 Finances 14 Debt Issuance.. 27 Spring 2018 Who we are
More informationDevelopment Charges in Ontario
Development Charges in Ontario Consultation Document Fall 2013 Development Charges Act, 1997 Review Consultation Document Ontario is reviewing its development charges system, which includes the Development
More informationBudget. Quick. Reference. Guide
Budget Quick Reference Guide Contents 1 Distribution of Tax Dollars 2 Long-term Budget Goals 3 Operating and Capital Budgets What s the Difference? Impact of Capital Budgets on Operating Budgets 7 Funding
More informationDEVELOPMENT CHARGES BACKGROUND STUDY
DEVELOPMENT CHARGES BACKGROUND STUDY Town of New Tecumseth C o n s u l t i n g L t d. May 29, 2013 Amended June 18, 2014 TABLE OF CONTENTS EXECUTIVE SUMMARY... 1 I INTRODUCTION... 10 II THE METHODOLOGY
More informationDevelopment Charges and Cost of Growth Analysis Town of Whitby Case Study Friday, September 22, 2017
Development Charges and Cost of Growth Analysis Town of Whitby Case Study Friday, September 22, 2017 Craig Binning - Partner, Hemson Consulting Jennifer Hess - Financial Analyst, Town of Whitby Overview
More informationDEVELOPMENT CHARGES BACKGROUND STUDY
DEVELOPMENT CHARGES BACKGROUND STUDY Revised City of Mississauga C o n s u l t i n g L t d. September 2009 TABLE OF CONTENTS EXECUTIVE SUMMARY... 1 I INTRODUCTION... 10 II METHODOLOGY IS BASED ON A CITY-WIDE
More informationCity of Pickering 2017 Development Charges Background Study
City of Pickering 2017 Development Charges Background Study Office Consolidation Incorporating the Background Study (October 5, 2017) as Amended and Approved by Council on December 11, 2017 Prepared January
More informationToday we will discuss...
City of Brantford 2019 Development Charges Study Public Information Centre #1 Friday, September 28 th, 2018 Today we will discuss... Background What are Development Charges? DCs in Brantford Development
More informationCITY OF SAULT STE. MARIE 2016 DEVELOPMENT CHARGES BACKGROUND STUDY. Draft for Public Circulation and Comment
CITY OF SAULT STE. MARIE 2016 DEVELOPMENT CHARGES BACKGROUND STUDY Draft for Public Circulation and Comment JUNE 8, 2016 CONTENTS Page 1. INTRODUCTION 1.1 Purpose of this Document 1-1 1.2 Development Charges
More informationCase Number File Number Appellant Neighbourhood and Legal Description PL101016* PL101036** PL101037***
OMB Case No. PL101016 et al OMB File No.? ONTARIO MUNICIPAL BOARD IN THE MATTER OF subsection 22(7), subsection 34(11), and subsection 51(34) of the Planning Act, R.S.O. 1990, c. P.13, as amended from
More informationDevelopment Charges. Someone Has to Pay, But Who?
Development Charges Someone Has to Pay, But Who? Lynda Cooke Urban Systems Joel Short Urban Systems Kathy Dietrich City of Calgary Shanie Leugner City of Regina Kim Sare City of Regina WORKSHOP OVERVIEW
More informationTown of Oakville Development Charge Background Study. Consolidated Report. In association with
Development Charge Background Study Consolidated Report This report consolidates the December 22,2017 Background Study, the February 8, 2018 Addendum 1 Report, and the February 23, 2018 Addendum 2 Report
More informationREGIONAL DEVELOPMENT CHARGE BACKGROUND STUDY
Executive Summary 2018 Development Charge Background Study March 27, 2018 Page 1. REGION OF DURHAM REGIONAL DEVELOPMENT CHARGE BACKGROUND STUDY Prepared by: THE REGIONAL MUNICIPALITY OF DURHAM AND WATSON
More informationCITY OF BRAMPTON Budget Highlights. As Approved by City Council on February 23, 2011
CITY OF BRAMPTON 2011 Budget Highlights As Approved by City Council on February 23, 2011 EXEXCUTIVE SUMMARY The current economic climate, meeting provincial growth targets and other budget drivers places
More informationHEMSON C o n s u l t i n g L t d
DEVELOPMENT CHARGES BACKGROUND STUDY Town of Gravenhurst C o n s u l t i n g L t d April, 2014 TABLE OF CONTENTS EXECUTIVE SUMMARY... 1 I INTRODUCTION... 7 II A TOWN-WIDE UNIFORM CHARGE APPROACH TO ALIGN
More information2014 Development Charges
DEVELOPMENT FINANCE 2014 Development Charges Background Study Amended June 2014 City of London 2014 Development Charges Background Study TABLE OF CONTENTS CHAPTER 1 - EXECUTIVE SUMMARY... 1 CHAPTER 2
More information2018 Development Charges Background Study The Cost of Growth. Council Workshop #2
Development Charges Background Study The Cost of Growth Council Workshop #2 June 27, 1 Agenda Review of development charges, legislated requirements and influencing factors City s DC study schedule and
More informationCity of Cornwall Development Charges Background Study. Council Presentation
City of Cornwall 2017 Development Charges Background Study Council Presentation June 12, 2017 Development Charges Purpose of Development Charges (D.C.) is to recover the capital costs associated with residential
More information2018 PRELIMINARY CORPORATE BUSINESS PLAN & BUDGET Governance & Priorities Committee (GPC) October 16, 2017 Presentation By Murray Totland City
2018 PRELIMINARY CORPORATE BUSINESS PLAN & BUDGET Governance & Priorities Committee (GPC) October 16, 2017 Presentation By Murray Totland City Manager OVERVIEW What s the challenge(s)? What s the response(s)?
More informationDEVELOPMENT CHARGES BACKGROUND STUDY
DEVELOPMENT CHARGES BACKGROUND STUDY Town of Innisfil C o n s u l t i n g L t d. July 19, 2018 TABLE OF CONTENTS EXECUTIVE SUMMARY... 1 I PURPOSE OF THE DEVELOPMENT CHARGES BACKGROUND STUDY... 6 A. INTRODUCTION
More informationDEVELOPMENT CHARGES BACKGROUND STUDY
DEVELOPMENT CHARGES BACKGROUND STUDY CONSOLIDATION STUDY C o n s u l t i n g L t d. April 25, 2018 TABLE OF CONTENTS Executive Summary... 1 I Introduction... 12 II III The Methodology Combines A CityWide
More informationG 1-1. Parkland Dedication By law Review Proposed By law Amendments. Council Meeting May 22, Committee of Council Meeting December 2012
G 1-1 Parkland Dedication By law Review Proposed By law Amendments Council Meeting May 22, 2013 Parkland Dedication By law 1. Background 2. Committee of Council Meeting December 2012 3. Development Industry
More informationWORKSHOP 1: LONG-RANGE FINANCIAL PLANNING
WORKSHOP 1: LONG-RANGE FINANCIAL PLANNING Tuesday, September 19, 2017 Overview of Today s Session Timeframe Topic/Discussion 20 min What is long-range financial planning and why is it important? 10 min
More informationOFF-SITE LEVIES UDI ALBERTA & CHBA ALBERTA RECOMMENDATIONS
OFF-SITE LEVIES UDI ALBERTA & CHBA ALBERTA RECOMMENDATIONS 1. OVERVIEW We want to express our appreciation for the work of Municipal Affairs staff throughout the consultation process on the individual
More informationThe Corporation of Haldimand County. Consolidated Financial Statements
Consolidated Financial Statements December 31, 2016 Index to Consolidated Financial Statements December 31, 2016 Page INDEPENDENT AUDITORS' REPORT 2 CONSOLIDATED FINANCIAL STATEMENTS Management's Responsibility
More information2018 Operating Budget Process
2018 Operating Budget Process Date 2018 Proposed Budget Process & Timeline (City Council Meeting) Public Input Opportunity July 17, 2017 2018 Recommended Budget Development by Administration July 18, 2017
More information2019 THREE YEAR OPERATING PLAN APPROVED BY COUNCIL DECEMBER 10, 2018
2019 THREE YEAR OPERATING PLAN APPROVED BY COUNCIL DECEMBER 10, 2018 Preamble The Municipal Government Act (MGA) requires each municipality to prepare a written plan respecting its anticipated financial
More informationTable of Contents. Capital - 2
CAPITAL OVERVIEW Table of Contents 2018-2020 Budget Summary CAP-3 2018 Funding Breakdown CAP-4 2018-2020 Development Charge Reserve Projections CAP-5 Asset Management CAP-6 2018 Cash Flow Projection CAP-8
More informationTo report back on the results of the external review of compensation for elected officials.
STAFF REPORT April 24, 2006 To: From: Subject: Employee and Labour Relations Committee City Manager Compensation Review: Elected Officials Purpose: To report back on the results of the external review
More informationCITY OF GUELPH DEVELOPMENT CHARGE BACKGROUND STUDY. Consolidated Report. Includes: Development Charge Background Study, Dated: November 1, 2013
CITY OF GUELPH DEVELOPMENT CHARGE BACKGROUND STUDY Consolidated Report Includes: Development Charge Background Study, Dated: November 1, 2013 Addendum No.1 To City of Guelph Development Charge Background
More informationDevelopment Charges in the City of Mississauga. A Revenue Tool to Fund Municipal Infrastructure and Services
Development Charges in the City of Mississauga A Revenue Tool to Fund Municipal Infrastructure and Services Agenda Presentation 15 minutes Discussion 60 minutes 1 Our Future Mississauga Strategic Plan
More informationTOWN OF AURORA DEVELOPMENT CHARGE BACKGROUND STUDY AND PROPOSED BY-LAW OFFICE CONSOLIDATION MARCH 12, (As Amended April 8 th, 2014)
TOWN OF AURORA DEVELOPMENT CHARGE BACKGROUND STUDY AND PROPOSED BY-LAW OFFICE CONSOLIDATION MARCH 12, 2014 (As Amended April 8 th, 2014) CONTENTS Page EXECUTIVE SUMMARY (i) 1. INTRODUCTION 1.1 Purpose
More information8 OMBI 2005 PERFORMANCE BENCHMARKING REPORT
8 OMBI 2005 PERFORMANCE BENCHMARKING REPORT The Finance and Administration Committee recommends: 1. the presentation from Kelly Strueby, Manager, Business Planning & Performance Measurement, be received;
More informationCities Are Not Created Equal
Cities Are Not Created Equal A look at differences in how cities tax residents and businesses. Prepared by: CAO Secretariat and Corporate Finance Updated September 2002 1 $1,400 $1,300 Winnipeg Residential
More information5 Draft 2017 Development Charge Background Study and Proposed Bylaw
Clause 5 in Report No. 3 of Committee of the Whole was adopted, without amendment, by the Council of The Regional Municipality of York at its meeting held on February 16, 2017. 5 Draft 2017 Development
More informationGuelph/Eramosa 2016 Budget Presentation. Thursday, February 18, 2016
Guelph/Eramosa 2016 Budget Presentation Thursday, February 18, 2016 1 Our Township We cover 292 km 2 and provide services to 12,380 residents The Township is responsible for maintaining: 225 km of roads
More informationHEMSON C o n s u l t i n g L t d.
DEVELOPMENT CHARGES BACKGROUND STUDY City of Brampton C o n s u l t i n g L t d. May 28 th, 2014 TABLE OF CONTENTS EXECUTIVE SUMMARY...1 I INTRODUCTION...13 II III THE METHODOLOGY USES A CITY-WIDE APPROACH
More informationDEVELOPMENT CHARGES BACKGROUND STUDY STAFF CONSOLIDATION REPORT. HEMSON C o n s u l t i n g L t d. Grey County
DEVELOPMENT CHARGES BACKGROUND STUDY Grey County STAFF CONSOLIDATION REPORT C o n s u l t i n g L t d. November 17, 2016 C o n s u l t i n g L t d. COUNTY OF GREY 2016 DEVELOPMENT CHARGES BACKGROUND STUDY
More informationAppendix A Debt Strategy
Appendix A Debt Strategy History and Background During the late 1980s and the early 1990s, the City of Winnipeg incurred significant debt for capital purposes. In the mid-1990s, the cost to service the
More informationCity of Waterloo Financial Dashboard
City of Waterloo Financial Dashboard Result for Change from Result for On BMA Study? 2017 2016 2016 A. Overall Financial Position 1 Financial Position per Capita Positive improving Positive Yes 2 Financial
More informationExecutive Summary Operating Budget and Forecast
The 2014 Budget Discussion Document presents the proposed 2014 operating budget, 2015-2016 forecasts and the 2014 Capital Budget for the Town of Oakville. The document represents the outcome of the 2014
More informationpresents: PLANNING FOR THE FUTURE INFORMATIONAL OVERVIEW DETAILS PROVIDED BY:
presents: PLANNING FOR THE FUTURE INFORMATIONAL OVERVIEW www.springcreekud.org DETAILS PROVIDED BY: SPRING CREEK UTILITY DISTRICT Development & Infrastructure About Spring Creek Utility District Spring
More information6 Draft 2018 Development Charge Background Study and Proposed Draft Bylaw Amendment
Clause 6 in Report No. 3 of Committee of the Whole was adopted, without amendment, by the Council of The Regional Municipality of York at its meeting held on February 15, 2018. 6 Draft 2018 Development
More informationWhere are your taxes going?
BUDGET HIGHLIGHTS Building for the Future The City s 2017 proposed Budget continues to build for the future, investing in community priorities essential to Regina s continued growth. The Budget goals were
More informationIntroduction to Development Charges (DCs)
Introduction to Development Charges (DCs) Strategic Priorities and Policy Committee April 13 th, 2015 1 Agenda What are Development Charges & what do they pay for? DC rate setting process Payment of DCs
More information2018 Development Charges Background Study. Report For Public Consultation. HEMSON C o n s u l t i n g L t d.
2018 Development Charges Background Study Report For Public Consultation C o n s u l t i n g L t d. January 9, 2018 Table of Contents Executive Summary... 1 I Purpose of 2018 Development Charges Background
More informationReport to: General Committee Meeting Date: December 5, 2017
Report to: General Committee Meeting Date: December 5, 2017 SUBJECT: 2017 Development s Background Study PREPARED BY: Kevin Ross, Manager, Development Finance Ext. 2126 RECOMMENDATION: 1) THAT the report
More informationCorporate Finance City Hall, 5 th Fl. 100 Queen St. West Toronto, ON M5H 2N OPERATING BUDGET BRIEFING NOTE Provincial Business Education Taxes
BN# 40 - Jan 23 Joe Farag Acting Chief Financial Officer Corporate Finance City Hall, 5 th Fl. 100 Queen St. West Toronto, ON M5H 2N2 Robert Hatton Acting Executive Director Tel: (416) 392-9149 Fax: (416)
More informationTown of Whitby Recommended Budget Target. January 18 th, 2012
Town of Whitby 2012 Recommended Budget Target January 18 th, 2012 125,900 People 147 sq. km. $2 Billion Infrastructure 951 acres of parks 1,089 acres of open space 1,096 km of roads 41,370 Households 10%
More informationCOUNCIL CHAMBERS, CITY HALL SARNIA, ONTARIO
SARNIA CITY COUNCIL April 12, 2010 3:30 p.m. COUNCIL CHAMBERS, CITY HALL SARNIA, ONTARIO Page SPECIAL MEETING AGENDA SPECIAL MEETING 3-28 1. BMA Municipal Study 2009 Presentation by Jim Bruzzese Page 1
More informationCouncillor Pam McConnell Budget Overview. February 24, 2010
Councillor Pam McConnell Budget Overview February 24, 2010 Budget Process Departments start working on their budgets about 6 months before launch The City of Toronto Budget is divided into two parts: Capital
More informationTOWN OF MILTON LONG-TERM FISCAL IMPACT ASSESSMENT OF GROWTH Draft For Discussion Purposes
TOWN OF MILTON LONG-TERM FISCAL IMPACT ASSESSMENT OF GROWTH 2011-2021 Draft For Discussion Purposes DECEMBER 6, 2010 CONTENTS Page 1. INTRODUCTION 1.1 Background 1-1 2. FORECAST POPULATION, HOUSING, AND
More informationCITY OF OTTAWA 2014 DEVELOPMENT CHARGES BACKGROUND STUDY
CITY OF OTTAWA 2014 DEVELOPMENT CHARGES BACKGROUND STUDY OFFICE CONSOLIDATION INCORPORATING BACKGROUND STUDY (APRIL 28, 2014) AS AMENDED BY: THE MAY 12 ADDENDUM AND PLANNING COMMITTEE REPORT 70A AS APPROVED
More informationThe Corporation of the Municipality of Strathroy-Caradoc Consolidated Financial Statements For the year ended December 31, 2017
The Corporation of the Municipality of Strathroy-Caradoc Consolidated Financial Statements For the year ended The Corporation of the Municipality of Strathroy-Caradoc Consolidated Financial Statements
More informationReserves and Reserve Funds
Business Plan Highlights Reserves and Reserve Funds Peel continues to experience the benefits of sound fiscal management which Council has put in place based on sustainability as the cornerstone of longterm
More informationASSET MANAGEMENT PLAN. HEMSON C o n s u l t i n g L t d. 30 Saint Patrick Street, Suite 1000 Toronto, ON, M5T 3A3
ASSET MANAGEMENT PLAN C o n s u l t i n g L t d. 30 Saint Patrick Street, Suite 1000 Toronto, ON, M5T 3A3 March 2017 TABLE OF CONTENTS EXECUTIVE SUMMARY... 1 A. STATE OF THE LOCAL INFRASTRUCTURE... 1 B.
More information2019 PRELIMINARY OPERATING AND CAPITAL BUDGETS
2019 PRELIMINARY OPERATING AND CAPITAL BUDGETS Overview Budget Consultation Public Engagement Budget Context and Highlights Context Preliminary Operating and Capital Budgets Highlights Revenue Expenditure
More informationHACKBERRY HIDDEN COVE PUBLIC IMPROVEMENT DISTRICT NO. 2 SERVICE AND ASSESSMENT PLAN (UTILITY IMPROVEMENTS)
HACKBERRY HIDDEN COVE PUBLIC IMPROVEMENT DISTRICT NO. 2 SERVICE AND ASSESSMENT PLAN (UTILITY IMPROVEMENTS) SEPTEMBER 15, 2009 HACKBERRY HIDDEN COVE PUBLIC IMPROVEMENT DISTRICT NO. 2 SERVICE AND ASSESSMENT
More information2017 PROPERTY TAX RATIO POLICY
1 2017 PROPERTY TAX RATIO POLICY PRESENTATION TO GENERAL COMMITTEE FEBRUARY 21, 2017 2 1) PURPOSE AGENDA 2) EXECUTIVE SUMMARY 3) BACKGROUND - TAX RATIOS 4) TAX RATIO ANALYSIS 2017-2020 5) SUMMARY 6) RECOMMENDATION
More informationDRAFT MULTI-YEAR Water and Wastewater & Treatment Budget December 17, ANNUAL UPDATE INVESTING IN OUR FUTURE. london.
6 MULTI-YEAR BUDGET FOR THE 2019 ANNUAL UPDATE INVESTING IN OUR FUTURE london.ca/budget DRAFT 2019 Water and Wastewater & Treatment Budget December 17, 2018 Table of Contents Recommendations... 1 WATER
More informationREPORT Finance and Information Technology
REPORT Finance and Information Technology To: Mayor Coté and Members of Council Date: 6/11/2018 From: Colleen Ponzini, CPA, CGA Acting Chief Financial Officer File: Item #: 253/2018 Subject: 2017 Statement
More informationDEVELOPMENT CHARGES BACKGROUND STUDY UPDATE. General Committee May 1, 2017
DEVELOPMENT CHARGES BACKGROUND STUDY UPDATE General Committee May 1, 2017 Agenda 1. Overview of Development Charge Act 2. Types of Development Charges 3. Calculation of Development Charges 4. Current Development
More informationCity of London Development Charges Background Study. April 2009
City of London Development Charges Background Study April 2009 ii Table of Contents 1 CHAPTER 1 - EXECUTIVE SUMMARY...1 2 CHAPTER 2 - DEVELOPMENT CHARGES PURPOSE AND STUDY PROCESS...4 3 CHAPTER 3 - CALCULATION
More informationCorporation of the Municipality of Red Lake Consolidated Financial Statements For the year ended December 31, 2017
Corporation of the Municipality of Red Lake Consolidated Financial Statements For the year ended December 31, 2017 Contents Management's Responsibility for the Financial Statements 2 Independent Auditor's
More information2017 Development Charges Background Study
REGION OF HALTON 2017 Development Charges Background Study FOR WATER, WASTEWATER, ROADS & GENERAL SERVICES DEVELOPMENT CHARGES December 14, 2016 EXECUTIVE SUMMARY TABLE OF CONTENTS Page (i) 1. INTRODUCTION
More informationMunicipal Levies- A Developers Perspective
Municipal Levies- A Developers Perspective Background Shelter is a basic necessity Serviced land is essential to shelter Cost of lot paid by homebuyer Increased costs =decreased affordability 2 Levy Definition
More informationNith Peninsula, Brant County Fiscal Impact Study
Fiscal Impact Study October 25, 2017 Fiscal Impact Study Prepared for: Losani Homes Prepared by: 33 Yonge Street Toronto Ontario M5E 1G4 Phone: (416) 641 9500 Fax: (416) 641 9501 economics@altusgroup.com
More informationPolicy on Management of Surplus
Policy on Management of Surplus (City Council at its regular meeting held on October 3, 4 and 5, 2000, and its Special Meetings held on October 6, 2000, October 10 and 11, 2000, and October 12, 2000, amended
More informationCITY OF TORONTO Auditor General s Office 2013 Recommended Operating Budget
CITY OF TORONTO Auditor General s Office 2013 Recommended Operating Budget October 25, 2012 Overview Outstanding Reports Have Potential to Impact Budget April 2009 City Council authorize the City Manager
More informationTown of Rocky Mountain House: Offsite Levy Review
Town of Rocky Mountain House: Offsite Levy Review Version 6 October 25 th, 2016 Presented to: Todd Becker, CAO Town of Rocky Mountain House PO Box 1509 Rocky Mountain House AB T4T 1B2 (403) 845-2866 tbecker@rockymtnhouse.com
More informationDEVELOPMENT CHARGES BACKGROUND STUDY. City of Woodstock. HEMSON C o n s u l t i n g L t d
DEVELOPMENT CHARGES BACKGROUND STUDY City of Woodstock C o n s u l t i n g L t d April 6, 2018 TABLE OF CONTENTS Executive Summary... 1 I Introduction... 10 II A CityWide Methodology Aligns DevelopmentRelated
More informationIndustrial Infrastructure Cost Sharing Program
CITY POLICY REFERENCE: ADOPTED BY: City Council 27 June 2017 SUPERSEDES: New PREPARED BY: Sustainable Development DATE: May 11, 2017 Policy Statement: 1. The is designed to assist in financing large municipal
More informationDEVELOPMENT CHARGES BACKGROUND STUDY. Staff Consolidation Report Accessible Version. HEMSON C o n s u l t i n g L t d.
DEVELOPMENT CHARGES BACKGROUND STUDY Staff Consolidation Report Accessible Version HEMSON C o n s u l t i n g L t d. June 23, 215 Table of Contents Executive Summary... 1 I Introduction... 1 II A Municipal-Wide
More informationBudget Summary OPER-3. Residential Tax Bill Information. Municipal Price Index (MPI) Corporate Overview. Departmental Breakdown
OPERATING OVERVIEW Table of Contents 2018-2020 Budget Summary OPER-3 Residential Tax Bill Information Municipal Price Index (MPI) Corporate Overview Departmental Breakdown Revenue Breakdown Expense Breakdown
More informationMUNICIPALITY OF MIDDLESEX CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2016
FINANCIAL STATEMENTS FINANCIAL STATEMENTS -1- Independent Auditor's Report -2- Statement of Financial Position -3- Statement of Operations and Accumulated Surplus -4- Statement of Cash Flows -5- Statement
More informationMUNICIPALITY OF CHATHAM-KENT CORPORATE SERVICES FINANCIAL SERVICES
MUNICIPALITY OF CHATHAM-KENT CORPORATE SERVICES FINANCIAL SERVICES TO: FROM: Mayor and Members of Council Gord Quinton, MBA, CGA Acting Director, Financial Services/Treasurer DATE: December 5, 2013 SUBJECT:
More informationCorporation of the Municipality of Red Lake Consolidated Financial Statements For the year ended December 31, 2017
Corporation of the Municipality of Red Lake Consolidated Financial Statements For the year ended December 31, 2017 Contents Management's Responsibility for the Financial Statements 2 Independent Auditor's
More informationREPORT TO THE CHIEF ADMINISTRATIVE OFFICER FROM THE FINANCE DEPARTMENT
December 4, 2014 REPORT TO THE CHIEF ADMINISTRATIVE OFFICER FROM THE FINANCE DEPARTMENT ON INTRODUCTION OF THE FIVE-YEAR FINANCIAL PLAN 2015-2019 AND AMENDMENT TO THE FIVE-YEAR FINANCIAL PLAN BYLAW 2014-2018
More informationGuelph s Financial Strategy 2014
Guelph s Financial Strategy 2014 GUELPH S FINANCIAL STRATEGY Guelph is one of Canada s most livable cities - a testament to this community s commitment to Guelph s vision: Be a city that makes a difference
More informationTOWN OF INNISFIL STAFF REPORT
TOWN OF INNISFIL STAFF REPORT STAFF REPORT NO: DSR-092-15 DATE: 06 May 2015 TO: Mayor, Deputy Mayor and Members of Council FROM: Andy Campbell, Deputy CAO / Town Engineer SUBJECT: Municipal Services Corporation
More informationProposed Regional Budget
Proposed 2017-2018 Regional Budget Presentation to Council Bill Hughes November 17, 2016 Overview of Presentation Part 1: Overview of the 2017 Budget Part 2: The Budget Operating Budget Capital Budget
More informationPresentation by: City Manager, Murray Totland *check against delivery
Presentation by: City Manager, Murray Totland *check against delivery THE 2017 PRELIMINARY BUSINESS PLAN AND BUDGET THE FRAMEWORK BUSINESS PLAN AND BUDGET INPUTS Phase 1: Phase 2: Phase 3: Phase 4: Prepare/
More informationCOMMITTEE OF THE WHOLE MEETING JANUARY 15, 2018
REPORT #PD-2018-01 COMMITTEE OF THE WHOLE MEETING JANUARY 15, 2018 COUNTY OF SIMCOE MUNICIPAL COMPREHENSIVE REVIEW RECOMMENDATION That Report #PD-2018-01 be received. OBJECTIVE The purpose of this report
More informationThe Corporation of the Municipality of Chatham-Kent
Consolidated financial statements of The Corporation of the Municipality of Table of contents Independent Auditor s Report... 1-2 Consolidated statement of financial position... 3 Consolidated statement
More informationTHE CORPORATION OF THE CITY OF SAULT STE. MARIE
Consolidated Financial Statements of THE CORPORATION OF THE CITY OF SAULT STE. MARIE Consolidated Financial Statements Page Management s Responsibility for the Consolidated Financial Statements... 1 Independent
More informationGreenbelt Foundation Environmental Defence Public Opinion on Ontario s Growth Plan
Greenbelt Foundation Environmental Defence Public Opinion on Ontario s Growth Plan Prepared by: 1 Summary of Findings The Growth Plan receives a high level of support from Ontarians (79%), who value all
More informationAGENDA SPECIAL COMMITTEE OF THE WHOLE MEETING SCHEDULED RECESS AT 2:30 P.M.
AGENDA SPECIAL COMMITTEE OF THE WHOLE MEETING Monday, March 11, 2019, 12:00 P.M. - 4:00 P.M. Board Room, Service and Resource Centre, 411 Dunsmuir Street, Nanaimo, BC SCHEDULED RECESS AT 2:30 P.M. Pages
More informationOverview. Highland Creek Wastewater Treatment Plant. R.C. Harris Water Treatment Plant
Presentation to Budget Committee October 19, 2009 2010 Operating Budget 2010-20192019 Capital Budget 1 Overview Serves 3.1 million residents and businesses in Toronto, and portions of York and Peel Over
More informationDistrict of North Saanich 2019 Dra Budget
District of North Saanich 2019 Dra Budget Budget in Brief Each year, the District develops an annual budget outlining how tax dollars are invested to support our residents and community. We include a five-year
More informationThe Regional Municipality of Halton. Chair and Members of the Administration and Finance Committee
Approved - Administration and Finance - Jun 16, 2010 Adopted - Regional Council - Jun 23, 2010 The Regional Municipality of Halton Report To: From: Chair and Members of the Administration and Finance Committee
More informationCITY OF VAUGHAN EXTRACT FROM COUNCIL MEETING MINUTES OF SEPTEMBER 26, 2017
Item 6, Report No. 8, of the Finance, Administration and Audit Committee, which was adopted without amendment by the Council of the City of Vaughan on September 26, 2017. 6 DEVELOPMENT SERVICES FEE STRUCTURE
More informationCity of Burlington SECURITIES POSITION AND PERFORMANCE COMPARISON OF THE FIRST HALF OF 2014 WITH Period Ended. June 30, 2014 June 30, 2013
Schedule 1a SECURITIES POSITION AND PERFORMANCE COMPARISON OF THE FIRST HALF OF 2014 WITH 2013 Period Ended June 30, 2014 June 30, 2013 Actual Budget Actual Budget Variance (where applicable) (where applicable)
More informationSubject: Audited Reserves and Reserve Fund Balances for Paul Gandhi, Senior Financial Analyst, Finance and Infrastructure Services
Staff Report 2016-43 Meeting Date: June 21, 2016 Subject: Audited Reserves and Reserve Fund Balances for 2015 Submitted By: Paul Gandhi, Senior Financial Analyst, Finance and Infrastructure Services RECOMMENDATIONS
More informationOperating Budget Overview 2019
OPERATING BUDGET Operating Overview 2019 Introduction In planning for a vibrant, healthy and sustainable community, the Town of Halton Hills is committed to providing community leadership on issues of
More informationComputation of the General Obligation Debt Margin ($ in thousands) TOTAL ESTIMATED ACTUAL PROPERTY VALUATION $134,976,735
Debt Service Funds Long Term Debt and Lease Obligations Provided herein is an overview of long-term debt and lease obligations, which addresses the methods used by the City and County of Denver to finance
More informationCity of Waterloo Development Charge Background Study
City of Waterloo Development Charge Background Study September 29, 2017 Contents Page xecutive Summary... i 1. Introduction... 1-1 1.1 Purpose of this Document... 1-1 1.2 Summary of the Process... 1-1
More informationCommittee of Council Budget December 6, 9 and 10, 2013
2014 Budget Committee of Council Budget December 6, 9 and 10, 2013 AGENDA 1. Corporate Overview Budget Context Priorities, Opportunities and Challenges Development Outlook Budget Process 2. Financial Overview
More informationMessage from the Treasurer. Proposed Property Tax Increases. Municipal Service Delivery. Economic Profile. Development Outlook
Executive Summary Table of Contents Message from the Treasurer Proposed Property Tax Increases Exec-3 Exec-4 About Brampton Brampton Facts Municipal Service Delivery Economic Profile Development Outlook
More information