Notice of 2017 Indexing of Development Charges
In accordance with subsection 7.06 of By-Law 2015-224, development charges shall be indexed annually on January 1st in accordance with the Quarterly Construction Price Statistics Index published by Statistics Canada. Whereas the index stood at 157.2 on September 30th, 2015 and at 162.3 on September 30th, 2016, the development charges that would have otherwise been in effect for 2016 pursuant to By-Law 2015-224 shall be indexed by (162.3/157.2 – 1)*100% = 3.244%. The resulting indexed development charges for 2017 shall take effect at 12:01am on January 1st, 2017 and they are located on the City’s development charges website at http://www.city.kawarthalakes.on.ca/property-development-by-law/building/development-charges-bylaw. The purpose of indexing is to ensure development charges reflect inflation in capital construction costs faced by municipalities.
For more information, please contact:
Susanne Murchison, Chief Building Official email@example.com
Adam Found, Manager of Corporate Assets firstname.lastname@example.org