Ontario municipalities are sitting on billions in unspent development charges (DCs) while the housing crisis continues to escalate.
According to housing expert Mike Moffatt, municipalities collectively held over $10 billion in unspent DCs as of 2022, despite collecting $4 billion that year and spending less than $3 billion.
The purpose of these funds is to support infrastructure developments like roads and water treatment plants to accommodate new housing. So why isn’t this money being put to work when it’s needed most?