Plan and Manage Growth
Area of Focus: Thriving
Outcome: Increase ability for growth to pay for growth (no growth related debt by 2041)
Measurement: Prior to Regional Council's approval of the Regional Official Plan Amendment and Development Charge (DC) Bylaw Update (anticipated for June 2018), this will be measured in projected savings associated with an updated infrastructure investment plan, financial tools and a monitoring and exception plan. After June 2018, this will be measured in realized savings.
Effective planning is needed to ensure that population growth expected in Peel over the next 25 years is sustainable, healthy, economical and supports prosperity in the Region.
Historically, the Region's planned revenues from development have not been realized due to lower than expected high-density residential and non-residential growth. As a result, the Region of Peel has accumulated $1.3 billion in debt of growth related infrastructure (e.g. water/wastewater and transportation).
As the Region of Peel brings the Regional Official Plan into conformity with the provinces' Places to Grow Plan (which is projecting an additional 500,000-600,000 people and 970,000 jobs for Peel Region by 2041), we will also closely manage the financial risk inherent with investing in long-term infrastructure prior to population and employment growth being actualized.
- Implemented a new collaborative approach to plan and manage growth for Peel Region with the local municipalities and the development industry.
- Managed debt which is $640 million lower than projected in 2012.