Some big changes proposed by FORD's Government "More Homes for Everyone Plan".
Highlights are:
- Streamlining the Development Process to build homes faster
- Incentivize municipalities to make timely decisions (by requiring them to refund zoning amendment fees if decisions are not made within 90+ days)
- Encouraging building types that can be built faster (ie. 12-story mass Timber buildings, plus a whole lot more)
- Investing over $19 million to help the Ontario Land Tribunal and the Landlord and Tenant Board speed up decisions and reduce the backlog of cases.
- Developing a process to help housing providers, including not-for-profit providers, take advantage of underutilized or surplus government properties to create more community and supportive housing.
- Increasing the Non-Resident Speculation Tax rate from 15% to 20%, expanding the tax beyond the Greater Golden Horseshoe Region to apply province-wide (Rebates for new permanent residents of Canada and related exemptions will be available to eligible newcomers to ensure Ontario continues to be welcoming to new Canadians).
- Amendments to the New Home Construction Licensing Act, 2017 and to the Ontario New Home Warranties Plan Act to strengthen protections for purchasers of new homes that may be taken advantage of by developers/builders.
CLICK HERE to read the Governments slideshow
