U of G student housing developer must pay development tax, city council says
A developer has to pony up some dough after Guelph found them responsible for development charges on a student housing project.
The city reportedly put a $15.5 million tax levy on the project on 601 Scottsdale Dr., prompting Forum Asset Management to pause the second development phase
Forum presented a complaint at a council hearing earlier in May, arguing the project was exempt from the charges because it is on university-owned lands and only intended for student housing.
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During the hearing, staff convened as a tribunal to review the complaint and dismissed it, citing that the purpose-built rental units intended for students were not exempt from the charges.
In a statement, the city says the project is already eligible for a $2.6 million discount on the fee for the purpose-built rental units under the Development Charges Act.
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If the developer rents the units at or below the provincial government's affordable rental threshold for Guelph for 25 years, it would receive full exemption from the development charges.
Forum Asset Management has until July 8 to file an appeal with the Ontario Land Tribunal.
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