Hamilton to Reduce Development Fees by 20% for Two-Year Period

Hamilton is reducing development charges by 20% for two years starting this September to support the struggling residential construction sector. The measure was approved by the city council to increase housing supply and is expected to cost $9.6 million annually. It will apply to both residential and non-residential projects, and aims to prevent job losses and stalled projects in Hamilton. The city anticipates a significant drop in development charge revenues with a housing start decline over the past year.