Community Benefit Charges Strategy

What are Community Benefit Charges?

A Community Benefits Charge (CBC) is a funding mechanism used by municipalities in Ontario to finance the growth-related capital costs of public services, such as infrastructure, parks, and cultural amenities, that are not already covered by Development Charges (DC) or Parkland Dedication fees. CBCs are levied on new buildings or structures that are five or more stories high and have 10 or more residential units.

The CBC will allow the municipality to collect up to 4% of the land value of eligible properties prior to the issuance of a building permit. Based on current forecasts, approximately 83% of planned apartment units (1,131 out of 1,369 units) fall within the eligibility criteria. Using average land values from a market analysis, the total land value associated with these developments is estimated at $34.5 million. Applying the maximum allowable CBC rate of 4% to this land valuation results in a potential revenue of approximately $1.38 million.

Background Information and Documents:

• Read the June 3rd Council Report