In certain cases where land for parks and other recreational purposes cannot be provided, with the Town’s approval, developers may fulfill parkland dedication requirements by providing cash-in-lieu. This payment is based on the market value of the land that would otherwise be conveyed, and would be kept in a special reserve account used only to buy parkland elsewhere in the Town.
Commercial/Industrial Development or Redevelopment
Two percent (2%) of the market value of the land that would otherwise be conveyed to the Town.
Residential Development or Redevelopment
- Low Density Residential: five percent (5%) of the market value of land that would otherwise be conveyed.
- Medium Density Residential: the market value of the land that would be otherwise conveyed to the Town at a rate of one (1) hectare per one thousand (1000) dwelling units.*
- High Density Residential: the market value of the land that would be otherwise conveyed to the Town at a rate of one (1) hectare per one thousand (1000) dwelling units.*
*The Town’s Parkland Dedication By-law identifies a different rate for cash-in-lieu of land for parks and other recreational purposes; this rate reflects recent amendments to the Planning Act and supersedes the rate outlined in the Town’s Parkland Dedication By-law. The Town will continue to monitor legislative changes and update the By-law as required.
Other Development or Redevelopment
Five percent (5%) of the market value of land that would otherwise be conveyed to the Town.