In this episode, Sabrina Maddeaux and Mike Moffatt discuss the complexities of development charges in Ontario, highlighting how municipalities have accumulated over $10 billion in unspent infrastructure funds. They explore the implications of these taxes on housing affordability, the political dynamics influencing their increase, and the growing public awareness of the housing crisis.
Chapters:
00:00 Introduction
01:28 Understanding development charges
02:10 The accumulation $10 Billion in unspent infrastructure funds
04:28 Cities are sitting on huge piles of cash but it’s totally above board
06:30 The impact of development charges on housing affordability
08:11 The economy doesn’t care about your intent
09:30 Mike gets in a fight with a city councillor over dev charges
11:20 How a pile of cash improves bond ratings
13:00 Public awareness and pressure for change
15:00 Why Conservatives okay with such high D.C.s
17:07 Shout out to Burlington, Vaughn and Mississauga
Links:
Are Development Charges Fair to Millennials and Gen Z?
Development Charges: 10 Things You Need to Know About Housing Taxes in Ontario
Response from the CBC on my Complaints to the Ombudsman
Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux
Produced by Meredith Martin
This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.
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