Calculating that it will come out ahead, Woolwich Township will drop its development charges on new homes by 30 per cent if its application to a new federal-provincial program proves successful.
Under the Development Charge Reduction Program (DCRP), the two senior governments are making $8.8 billion available to municipalities that agree to reduce development charges – levies applied to new homes in order to cover costs associated with growth – by 30 to 50 per cent over at least three years.
Meeting this week, Woolwich councillors backed a staff recommendation to apply for the funding ahead of the June 19 deadline. Tuesday night’s session was a special meeting required to meet the timelines of the program, which was just announced on June 1.
