New home buyers and new businesses will take on costs that are disproportionate to existing residents and businesses across the Province.
TORONTO, May 27, 2013 /CNW/ - The Ontario Home Builders' Association (OHBA) and the Building Industry and Land Development Association (BILD) are disappointed that the Metrolinx 'Big Move' Investment Strategy announced today will burden new home buyers and new employers with additional charges.
The proposed revenue tools, which include an increase to Development Charges and an additional new 1 per cent HST, will erode affordability of new homes and new employment centres across the GTHA.
"This Investment Strategy adds a host of new fees and charges that will end up making transit-oriented communities less affordable," says Joe Vaccaro, COO of OHBA. "For example, for a new condo buyer in Markham, the Metrolinx Investment Strategy could add up to $8,000 in charges - a cost that is disproportionate to the $477 being projected by Metrolinx."
"New home buyers and new businesses are already doing their fair share," says Bryan Tuckey, President and CEO of BILD. "We estimate new home buyers and new businesses paid more than $1 billion in Development Charges to municipalities in 2012 alone for the construction of growth-related infrastructure in the GTA."
Advocating on behalf of new home buyers and business, the Associations want the public to know that the report doesn't recognize the impact of the proposed tools (i.e. Development Charges, new HST, parking levies, land value capture etc.) on new home purchasers and new business owners.
The Province has created a growth plan, Places to Grow and a regional transportation plan, The Big Move to promote transit-oriented communities, fight sprawl and congestion. BILD and OHBA believe the proposed new revenue tools presented today are counter-intuitive to the goals of both plans.
With more than 1,400 members, BILD, formed through the merger of the Greater Toronto Home Builders' Association and Urban Development Institute/Ontario, is the voice of the land development, home building and professional renovation industry in the Greater Toronto Area. BILD is proudly affiliated with the Ontario and Canadian Home Builders' Associations.
The Ontario Home Builders' Association is the voice of the residential construction industry in Ontario representing 4,000 member companies organized into 30 local associations across the province. The industry contributes over $42 billion dollars to Ontario's economy, employing more than 325,000 people across the province.
SOURCE: Building Industry and Land Development Association
For further information:
For more information or to arrange an interview with Joe Vaccaro or Bryan Tuckey, please contact Amy Lazar at 416-391-3452/416-543-3903 or [email protected] or Kathryn Segal at 416-443-1545 ext. 223 or [email protected]