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Alliston builder seeks delay in DC payments

Posted April 9, 2018

Oxnard Developments, which is building 59 semis and townhomes around the Kingsmere site at Industrial Parkway and King Street, is seeking up to a year delay in paying the hard services component of development charges, of which in this situation equates to approximately $1 million, due in May, for phase two.

Negar Javaherian, Project Coordinator with Oxnard, is expected to tell councillors tonight in her deputation that provincial government changes to the real estate market have created a drag on their new home sales.

"Higher borrowing cost and federal and provincial government decisions have affected the demand side of the market and has caused the GTA housing market to slow down. We suppose no one is immune to this slowdown happening in the GTA home market," according to Ms. Javaherian's letter to council seeking a deputation. "It has affected us negatively to the extent that we have sold only a few houses since last October."

The DCs payable for hard services - water, wastewater, and transportation - owed on all 59 units is $1.61 million.

"We respectfully request that Council consider the extending due date on the 1-year anniversary payment for 6 to 12 months. This would greatly help us to endure the market downturn. We would like to reassure Council that we will proceed to make the payment during extension period as soon as the market starts to rise again."

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All stories, unless otherwise noted,
by Tony Veltri

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