Ontario Construction News staff writer
Peel Regional Council has approved a plan for the 2024 budget and existing workplans, in light of Bill 112 and separation of Mississauga, Brampton and Caledon.
Twelve principles have been approved to guide previously approved projects and programs and how help staff prepare the 2024 budget.
The province passed Bill 112 in June, to dissolve the Regional Municipality of Peel effective January 1, 2025, and make Brampton, Caledon, and Mississauga single tier municipalities. A transition board to lead restructuring is expected to be appointed by the end of July by the Ministry of Municipal Affairs and Housing.
Peel’s new principles will help staff make decisions on:
Community Housing construction and continuation of housing enabling programs including:
- Significant future investment within the property tax context
- Long-term agreements with community housing providers
- Chelsea Gardens housing development
- End-of-mortgage agreements with community housing providers to keep non-profits in the affordable housing system
- Rental incentive programs, 25-year agreements with developers to maintain affordable units within new developments
- Infrastructure for growth
- Peel Living and Water and Wastewater infrastructure
- Infrastructure for growth