An area developer sent a letter to North Huron council asking them
to consider deferring the development charges for 6 months, or until
the home they are proposing to build sells, whichever comes
first.
This developer wants to build a new home in Wingham, which will
likely attract another family to our town, and add another property
to the tax roll. You think they would treat this request
respectfully, consider if it would have any financial impact on
North Huron, decide, and thank the developer for literally building
our Community.
What financial impact would this have on North Huron if they
deferred the development fees? An argument can be made that it
would cost nothing, because that money would have just gone into a
Corporation of North Huron bank account where it likely yields no
interest. Let’s make up an hypothetical scenario and say they
take the development fees and invest it at 4% for the maximum 6
months of deferral. Let’s say the fees are $10,000 for easy
math.
$10,000 @ 4% for 6 months = $200.
The reality it is it would cost the taxpayers virtually nothing if
this request was granted.
So, how would you respond to this request?
Current North Huron councillor brock vodden said That’s a
terrible precedent when we look at the future development ahh
