Durham Regional Council took important steps last week to define our financial path forward by advancing three key decisions that will help shape the future of our communities.
First, Council supported the 10-year Durham Regional Police capital plan. This is an important document that will guide investment to address growing policing infrastructure and staffing needs over the next decade.
We also approved two motions aimed at getting much-needed housing moving again across the region.
The Development Charge (DC) Deferral Program is a time-limited tool designed to help purpose-built rental projects get shovels in the ground sooner. By allowing development charges to be paid over a longer period, with interest and regional premiums in place, we can improve project viability while protecting taxpayers. This approach builds on similar work already approved by Ajax Council and reflects a balanced, fiscally responsible path forward.
In addition, Council directed staff to report back on the feasibility of a Regional Financing Program. Across Durham and across Ontario, we are seeing rental projects stall. Projects that made sense just a few years ago are no longer viable due to higher borrowing costs and tighter lending conditions. This motion asks staff to explore how a portion of the Region’s reserves could be strategically deployed, on a loan basis, to help unlock housing development while protecting the public interest.
This is an important moment for the Region and for the Town. We cannot afford to sit back while opportunities pass us by. Planning for our future while making prudent, strategic decisions today is critical to our long-term success.