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OAKVILLE BEAVER Thursday, August 13, 2009 · 4 Chamber warns high charges could discourage development Continued from page 1 experience significant increases moving from 3,984,403 square metres in mid-2008 to 5,213,884 square metres by mid-2018 and 5,712,625 square metres by mid-2031. In its recently released 10-year capital forecast the Town estimated a total of $822 million would be needed to cover identified costs with $493.5 million earmarked for growth-related projects. The Town expects development charges to cover $338 million of that $493.5 and points out that development charge revenue raised from the new bylaw will finance road infrastructure from 2018 to 2031. Some of these growth-related projects include the North Park Quad Arena, the QE Park Community Centre, a new library branch, additional buses, two new fire stations and new park development. While funding all these projects is important, opponents of the development charge hike warn the Town may actually be sabotaging its future growth by making it too expensive for businesses to relocate here. "Fundamentally there is a serious imbalance between residential and non-residential land use in Oakville (87 per cent residential to 13 per cent non-residential)," said John Sawyer, president of the Oakville Chamber of Commerce. "In order to have a livable, sustainable and complete community, we need to do everything we can to correct that imbalance including offering competitive development charges for new and expanding businesses. This imbalance affects all residents and existing businesses fiscally through the tax base. The natural environment and our quality of life are diminished as a result of the need to commute to work. (Currently 63 per cent of the employed people in Oakville leave the community to work.)." Sawyer said the Town has taken some steps to address this imbalance through its new Economic Development Plan, its I Shop Oakville campaign and its support of tourism, but, he said, more is needed. "We are concerned that the increased cost of doing business in Oakville will provide a disincentive to businesses to locate and bring quality jobs here. Also, the increased cost may provide an incentive to businesses to relocate rather than stay and grow in Oakville," said Sawyer. "We do understand the need for growth to pay for itself. However, we believe the significant ongoing benefits to the community of attracting the right kind of businesses to Oakville have not received adequate attention due to the focus on upfront infrastructure costs." For more information on the Town of Oakville's development charge by-law review, visit www.oakville.ca. Mark Your Calendar! SEPTEMBER TH 20 HALTON Bridal Fully Equipped Booths Still Available Call Kelly @ 905-878-2341 x 252 Expo FASHION SHOW · PRIZES "BUY IT NOW" ROOM Plan on Attending This Fabulous Afternoon at Rattlesnake Point Golf Club