Why Ontario Cities Are Sitting on 10 Billion in Cash

In this episode, Sabrina Maddeaux and Mike Moffatt discuss the complexities of development charges in Ontario, highlighting how municipalities have accumulated over $10 billion in unspent infrastructure funds. They explore the implications of these taxes on housing affordability, the political dynamics influencing their increase, and the growing public awareness of the housing crisis. Chapters:00:00 Introduction01:28 Understanding development charges02:10 The accumulation $10 Billion in unspent infrastructure funds04:28  Cities are sitting on huge piles of cash but it’s totally above board06:30 The impact of development charges on housing affordability08:11 The economy doesn’t care about your intent09:30 Mike gets in a fight with a city councillor over dev charges11:20 How a pile of cash improves bond ratings13:00 Public awareness and pressure for change15:00 Why Conservatives okay with such high D.C.s17:07 Shout out to Burlington, Vaughn and MississaugaLinks:Are Development Charges Fair to Millennials and Gen Z?Development Charges: 10 Things You Need to Know About Housing Taxes in OntarioResponse from the CBC on my Complaints to the OmbudsmanMore NeighboursHosted by Mike Moffatt & Cara Stern & Sabrina MaddeauxProduced by Meredith MartinFunded by the Neptis Foundation https://neptis.org/