On Monday, June 24, 2019 the City will be hosting a public meeting to discuss development charges (DC) in nine new development areas including Lily Lake, Cold Springs and Lift Lock.
The DC report for Peterborough Utilities Commission looks at the water servicing needs and the cost-recovery for new development.
The study proposes: Area-specific development charges that are calculated for the recovery of water services in the City of Peterborough. This approach results in ten different charges that vary by planning area.
In the 10 planning areas, only development charges for the Lift Lock and Cold Springs are
increasing (by 2% of the current rate) while non-residential development charges will decrease across all 10 by 12 percent. The decreases are due to higher development forecasts than in the last study.
Over the planning period from mid-2018 to build-out, the total number of new residential units in the growth areas will increase by approximately 19,615 which translates into a population in new units of approximately 50,811. The planning area with the largest proportion of growth is Coldsprings, with over 4,700 approved and potential units.
Of the 19,615 new units, 3,929 units have been approved by the City, and the remainder are
potential new units.
The non-residential space forecast prepared for development charges purposes is the basis for the non-residential development charge calculation. About 854,000 square metres of building space is
forecast to come on-stream over the planning period to build-out. Keeping the City’s activity rate consistent with historical trends, the employment to build-out is forecasted to grow by 21,340 jobs.