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Ontario says Petrolia will receive up to $2.3 million for infrastructure in exchange for eliminating development charges for three years.
Petrolia is set to receive up to $2.3 million for infrastructure in exchange for eliminating development charges for three years, according to an Ontario government announcement published Monday, Nov. 9.
The province presented the Ontario–Canada initiative as a measure to make homes more affordable in the town. The funding amount is a maximum commitment, rather than a confirmed final payment.
Ontario says Peterborough will receive up to $39.9 million for infrastructure in exchange for reducing development charges for three years.
The conditional funding is tied to eliminating residential development charges for three years.
The October 16 announcement links water-system funding to a three-year development-charge reduction; agreements and project approvals remain necessary.
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