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'Next council should be looking to pull in the reins'
to the editor,
What is "not fair" is the fact that development charges (DCs)
are calculated by those who do not necessarily have to pay for them.
Who gets to decide what hard and soft DCs are? How much of
future homeowners line of credit do our consultants, directors of
services (staff) and the bold but not always either informed town
councillors, for that matter concerned, that ever increasing DCs will
make their town most unattractive to new home buyers?
After all, as the mayor of Barrie admitted, both his surcharge as well
as the DCs, all $38,000 in New Tecumseth's case and not including
either the school board and the County's share of the same DC trough
have to be paid by somebody, a sort of "nimby" scenario.
That brings up that monthly grab from the bank account by another 11
per cent to be added to the monthly bank deduction after taxes for the
prospective buyer's mortgage to cover.
What this council has failed to do is to fairly consider what the new
families that come looking to make their homes here in New Tecumseth
really require or can afford in the way of soft DCs, or just
something simple that may well satisfy their family needs and not add
to the burden of buying a new home.
For example, that they would probably not consider that it is necessary
that we have to have 'one of the same' in every urban community.
The next council should be looking to pull in the reins when it comes
to projecting how much of the new home owners in New Tecumseth can
afford to pay in DCs, principally in matters relating to the soft
infrastructures and in suggesting to passing onto them, part of the
Town's own share of the costs of benefits to the community inherent in
the DC formula.
That is an amount in the range of 15 - 27 per cent of the
total costs of such DC infrastructure depending on the nature of the
project to be supposedly borne by our property taxes.
If we follow the bouncing ball you will see that Barrie's concept,
presented this week at council, will reduce the Town's future property
tax and capital borrowing by by a magical 10.7 per cent over the
same 25 year mortgage term.
That is to say that instead of the Town taking responsibility for its
own share of the cost the developer gets to shuffle the Town's
obligation on to the new homeowner.
God Bless 'em. Could be that this would be best describe such as the
town councilors own ideal 'Ponzi scheme.'