Contributions For Building the New Recreation Centre

Sep 9, 2022 | Budget, Developments | 0 comments

September 12 Council agenda includes two reports about principles for Municipal Capital Facility Agreements (MCFA’s).  One is with Zancor in relation to their development at 2075 King Road and the other one is with Keele West Developments in relation to their developments on Keele.  I certainly welcome these developers contributing to the capital cost of building the new Township Wide Recreation Centre; and, I think it is entirely appropriate that they volunteer to make these contributions as their products (i.e. their new homes) will be more valuable in the marketplace because of this facility.  As reviewed in the report a MCFA does not remove the need to pass all the usual steps in the approval process. Having said that, they are important to King:  each of the offers is for $1 million.  If these contributions are made that will reduce funds currently planned to be taken from the reserves; at this time the latter is $8million.

As always, you can register to make a deputation to Council by registering at [email protected] by noon on Sept. 12.  Also you can send in comments or questions to [email protected] and your email will be circulated to Council and relevant Staff members.

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