It's to help developers being slowed by market forces
Companies having trouble finishing development projects in St. Catharines can expect permit extensions.
Council voted for city staff to report back by August 12th with amendments to adjust Community Improvement Plans.
Director of Planning Tami Katay says this is for developers well into their mandate. "They've already made those investments, they've already done that cleanup work, but due to matters outside of their control, mainly market driven, they've been unable to complete on their original time frame."
Mayor Mat Siscoe says the last four years have been difficult to get financing, especially following the pandemic.
Katay explained what happens in a Community Improvement Plan if a developer can't finish.
"The way the 2020 CIP is written, is that if a project receives CIP approval, we do budget for that, and if it's not completed within the 5 years, then the money that we budgeted for that goes into the affordable housing reserve."
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