By-Law 2024-102 Policy 5-009- Development Charge Interst Rate Policy (2)Policy 5-009-Development Charge Interest Rate Policy
10.1.1 Change of use to a development type that is not eligible for
development charge instalments under the DCA, as of the day the change is made.
11.Unpaid Development Charges
11.1 If any DCs (including interest) are unpaid, those DCs (including interest) may be added to the tax roll and collected in the same manner as taxes, in
accordance with the DCA.
11.2 Interest on late payments added to the tax roll shall incur the applicable
taxation interest rate (as provided under the Municipal Act).
12.Other Matters
12.1 Pursuant to Section 26.2 of the DCA, the Town considers an application of a Site Plan or Zoning Amendment to be made as of the date that the submitted
application is deemed to be complete according to County IT own Planning
staff.
12.2 The Town will not require additional security for deferrals eligible under
Section 26.1 of the DCA. The deferral plans will be monitored and will be
addressed should non-payment become an issue, with any unpaid DCs
transferred to the tax roll of the property.
12.3 The Treasurer is authorized to execute Development Charge payment agreements, agreements under Section 27 of the DCA for payment before or
after payments would otherwise be made, and any other agreements the
Treasurer deems necessary for the proper implementation or administration
of this policy.
13.Retention Policy
13.1 Documents supporting the reporting requirements related to this Policy shall
be retained in accordance with the Town of Tillsonburg's Records Retention
By-law 2024-062.
14.Review of Development Charge Interest Policy and Procedures
14.1 This Policy shall be reviewed at least once every five years.
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