New condos pickering . No development fee shall be charged for vacant land. The Toronto School Bureau of Education (Toronto District School Board, or TDSB), is challenging an Ontario rule that does not allow TDSB to receive developer funds to buy land for new schools in areas with a growing population.
TDSB filed an application for judicial review with the Ontario Supreme Court this week, calling the rule “unfair” and “unconstitutional”. Under the existing regulations, if the school board owns excess land, it is not eligible for the “education development fee” (Educational Development Charges,EDC paid by the developer to the school board).
However, (Toronto Catholic District School Board), the Toronto Catholic Department of Education, has access to EDC, because the Department of Education does not have excess land.
Many provincial education bureaus have been facing the problem of insufficient enrollment for many years, and 42 of the 72 education bureaus have partially vacant campuses.
A spokesman for the Director of Education, Nalandu (Indira Naidoo-Harris), said that TDSB could submit their development plan through a special plan to apply for funding, but so far no application from TDSB had been received.
TDSB alleges that some campuses do have enough land, but in some areas where the population is growing rapidly, the situation is completely different.
Although the cost of the Condo unit is relatively low, the area of the separate house is large, with a garage, at least 3 rooms or more, parking lanes, basement and so on. In terms of feet, the average price of detached housing estates is even lower than that of Condo flats. He also said that domestic prospective buyers are indeed affected by a variety of factors, including higher interest rates, provincial government moves and higher threshold for federal stress tests, which may have a psychological impact on some prospective buyers, but since this month, the turnover of buildings in the Greater Toronto area is likely to resume, and some houses are also “robbing offer”. As far as developers are concerned, Guan Rongguang also agrees that some real estate developers holding the new market will adopt a wait-and-see attitude to prevent their new market from becoming “cannon fodder” since New Year’s Day officially released the federal mortgage loan stress test this year. The reason is that it may cause instability to the buyer, and if the buyer delays entering the market, the developer may be hindered from borrowing money from the bank to build a new house.
