At this week’s Council meeting, Council had before it a motion I put forward to exempt development charges for “major Office Development”; a major office development is defined as a free-standing building with a minimum height of three floors and a minimum gross floor area of 75,000 square feet.
As per AMO’s statement on share of property taxes “Households pay the bulk of the property tax in municipalities across Ontario – and pick up a larger share of the tab with each passing year. In 2001, 68.5% of all property taxes – lower-tier, upper-tier, and education – were collected from residential properties. By 2017, that figure had increased to 73.4%.” This is a trend that needs to change.
I believe we need to use all the tools available to us as a municipality, working with the business and development community, to ensure the Town puts the optimal conditions in place to both attract new businesses and assist current businesses to thrive. This type of forward-thinking links land use planning with financial incentives for businesses and developers, making Aurora a desirable location. These initiatives will promote economic development opportunities across the Town and solidify Aurora as a place of business and investment.
By waving the DC charges, the municipality would be giving up a one-time fee; But, we would be gaining new jobs, tax revenue, and creating an environment where our residents could truly work, live, and play…. And would enable the municipality to begin to shift the burden on the Residential tax base; moving the needle to relieve the tax burden on our residents.
Clearly, this one initiative is not the be all end all that will attract “major office development” to our Town, but these changes are a positive step that distinguishes Aurora as an even more attractive location for large office investments. We need to continue to make decisions that will encourage company’s both large and small to pick Aurora as their home.
I am extremely pleased that the motion was passed unanimously and am looking forward to continuing to work together to foster economic development in our Community.
