My upcoming motion to explore the creation of a Development Charge (DC) Rebate Program for first-time homebuyers in the Town of Aurora.
This initiative is designed to provide immediate relief to many young individuals and families face trying to enter the housing market in Aurora. By offering a targeted rebate on development charges, we can help make homeownership more accessible and affordable — right here in our own community.
This is one of many steps we are taking to ensure that Aurora remains a place where young families — can afford to call home.
#LeadershipThatCares #LeadershipThatGetsThingsDone
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2 Responses
This would be 100% helpful and a great example of leadership in our community. I’m a realtor and business professor and I see so many young that would love to build their first home and therefore adding to economic development of the trades in our community. The DC charges in aurora are much too high at $137k for a single residence and it’s deterring development.
Where is the money coming from? Existing tax payers from the sounds of it. I pay my taxes – however I never agreed to subsidize the taxes others owe. Will I get a retroactive rebate? Of course not. I read the proposal and there are some good ideas but still leaves many issues unaddressed. Do we limit the price of the home that would qualify? Do we limit the type of home that could qualify? Is it limited to specific areas of the city? Lastly, I don’t think a rebate, as it is proposed, will work. To many times rebates lead to inflated prices by manufactures. Is there a better option? Could the development charges be separated out and added as a lien on the property? If paid off within X years – no interest would be charged – after that time it gets charged Prime interest rate. If the house is sold any amount outstanding is immediately due for payment as part of the sale proceeds. Any proposal needs to be revenue neutral for the city of Aurora. The individual taxpayers of Aurora cannot be expected to subsidize these charges and general housing affordability due to mistakes that were made at the provincial and federal levels.