You all agree, Toronto grew up pretty fast in the last 30 years. It was during the time that Alberta was becoming an 'oil Province'. Albertans did very well but Toronto doesn't seem to have benefited from all the intensification it has experienced.
With development comes Development Charges. These are the fees property owners must pay the City to finance the additional infrastructure required to service new condo and office space. No matter what we think these charges should be it is obvious whatever the City received doesn't seem to be paying off.
The puny amounts developers pay makes us think this has been a major part of Toronto's budget problems all along. When you see the levels of profit companies like Minto and Riocan generate every time they build into the sky it is obvious the City and existing residents aren't getting what is needed to accomodate them.
