Item - 2026.CC43.9

City Council on July 29 and 30, 2026, adopted the following:

1. City Council amend City of Toronto Municipal Code Chapter 415, Development of Land, to introduce time-limited decreases to development charges under certain circumstances and to pause indexing in 2027, 2028 and 2029, by adopting a by-law amendment substantially in the form set out in Attachment 1 to the report (July 22, 2026) from the Chief Financial Officer and Treasurer.

2. City Council authorize the Chief Financial Officer and Treasurer to take any necessary steps to implement the by-law amendments described in Part 1 above, including providing refunds, as appropriate.

3. City Council authorize the Chief Financial Officer and Treasurer to make any adjustments to the 2026-2035 Capital Budget and Plan as required to replace development charge funding with intergovernmental funding for the applicable capital projects, following execution of the Transfer Payment Agreement, with no change to total approved project costs.

4. City Council authorize the Chief Financial Officer and Treasurer, in consultation with the City Solicitor, to terminate existing agreements entered into under section 27 of the Development Charges Act, 1997, that provide for a reduced interest rate on rental installment payments in exchange for financial security, at the request of the applicant.