It’s going to cost more to develop properties in the District of Muskoka next year.
The Finance and Corporate Services Committee approved the 7.7 per cent increase at a meeting Wednesday.
According to a report presented to councillors, the increase is expected to net the district an additional $252,000 next year, which could go towards the $2.5 million needed for various public works projects the district has deferred.
Suzanne Olimer, Muskoka’s Commissioner of Finance and Corporate Services, said the increase comes because of increases in the cost of construction, such as the cost of road paving materials going up by 13 per cent in 2021.
Oliver added that there are some considerations to help affordable housing projects: residential properties can be exempted from the charge when adding up to two additional units, and the Muskoka Affordable Housing Initiatives Program offsets development costs for affordable housing.