Post by: Roy Gentles
Parkland dedication, or cash-in-lieu of land, has been a hotly debated topic between municipalities and developers for years. In a decision dated January 15, 2015, the Ontario Municipal Board (“OMB”) sided with developers saying that the Town of Richmond Hill’s parkland dedication rate, the cash-in-lieu equivalent argued to be $37,600 per unit, was too high.
The OMB ruling imposes a cap on how much the town can charge on new development: 25 per cent of the land being developed, or its value in cash.
“No matter how many units there are on the site, they are going to pay the same amount,” said Bassios. “The cap removes any relationship between a density increase and the parkland that they owe,”
With an appeal to the to the divisional court likely, this is a case we will be watching closely.
For the full Toronto Star article click here.