Report No. DCAO-2025-0006
Recommendation(s):
1. That Council receive Report No. DCAO-2025-0006 prepared by the Financial Strategy and Planning Division of the Office of the Deputy CAO dated April 16, 2025, regarding a Funding Plan for The Queensway North Urbanization project;
2. That Council approves an additional budget of $378,900 for the growth-related component for the south portion of The Queensway North project, to be funded by Development Charges reserves;
3. That Council provide delegated authority to the Town Solicitor to enter into a construction agreement with Ballymore Development (Georgina) Corp. for the south portion of The Queensway North project;
4. That Council approves a budget of $8,432,800 for the north portion of The Queensway North project to be funded by:
a) $5,219,100 in the form of DC Credits to Ballymore;
b) $2,757,700 funded by CCBF;
c) $456,000 to be recovered from future developments;
5. That Council approves a budget of $1,538,400 for the local service connections for The Queensway North project conditional on interest from the community;
6. That Council authorizes the Town Treasurer to commence the process to implement a local improvement charge and establish a payment plan with residents who will be benefiting from the new service connections on The Queensway North in accordance with Local Improvement Act, R.S.O. 1990, c. L.26, provided there is interest from the community; and,
7. That Council provide delegated authority to the Town Solicitor to enter into a construction and DC credit agreement with Ballymore Development (Georgina) Corp. for the north portion of The Queensway North project.