23 Mar More Money for Transit Could Improve Ottawa Quality of Life
We have some exciting news from Ottawa! Evidently, according to a recent article I was reading, officials were recently discussing changes to developer charges that could mean more money for transit and waste diversion in the city.
This could have great implications for the people who call Ottawa home. Continue reading to learn more.
More on This Recent Development in Ottawa
The recent article I was reading reported that proposed changes to development charges mean the city of Ottawa could potentially generate an extra $62 million for public transit.
This is an incredible amount of money that could really go a long way here!
The back story is that the Ontario government has been exploring legislation that could change the formulas that municipalities use to charge developers.
When developers build, they must pay the city to help install new infrastructure, including roads, sewers and public transit.
The current formula is based on the average cost of expanding bus service over the past 10 years. But officials want to change the formula so it considers what the cost of transit will be in the future.
This makes sense because it factors in inflation, rise in cost of goods and labor and more.
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Should this funding change be approved, it could really help Ottawa extensively expand its transportation system without incurring massive amounts of debt.
This will in turn help residents get to and from where they need to go much easier, thus improving quality of life for them!
We’ll keep you posted on this development and whether it ultimately passes. For now, please contact us. Geoff and Bobbie McGowan if you’d like any additional insight on the current state of the Ottawa real estate market.
We hope you have a wonderful day!
Until next time,