What Is Hamilton’s Development Charges Reserve Balance?
A feature of the newsletter is this section responding to questions. I’ll prioritize questions sent by email reply to newsletters.
Bryan Webber asks about the City’s current development charges reserve balance.
The City’s DC balance on December 31, 2021, was $373,590,713.
The 2021 annual “Treasurer’s Statement“, required by the Development Charges Act, 1997, states the City’s adjusted balance is -$126,047,631 based upon budgeted capital projects and debt charges.
The City borrows for major infrastructure expansions, which occur before areas are developed. This is reflected in the DC Debt lines of the table above. [The City provides a low-quality table image in the original document]
More to come on development charges in upcoming newsletter editions.