Earlier this week, the Association of Municipalities of Ontario (AMO) wrapped up their annual conference held this year in London, Ontario. The conference brings together municipal leaders from across the province, and provides municipalities with a forum to “achieve similar goals and meet common challenges”. The conference is a high profile event that is attended by Ontario mayors, and representatives from all three Ontario political parties, including the Premier.
Some key conference announcements include:
- The Ontario Community Infrastructure Fund will provide $100 million per year in funding for critical road, bridge, water and waste water projects. Half of this funding will be allocated based on a set formula, the remaining amount will be allocated based on an application-based process.
- Small municipalities will now be able to propose and apply for funding for infrastructure projects through the Ontario Small Communities Fund.
- The government also reaffirmed their commitment to spending $29 billion over the next ten years on critical infrastructure projects.
OREA has been following the conference closely for any mention of a municipal land transfer tax (MLTT) or a commitment from the government to expand municipal taxation powers. REALTORS® will be happy to know that the government has not made any commitments for either option. OREA recognizes the important work of our municipal leaders and governments, and understands the critical role of taxation to pay for services we all enjoy and rely upon. Nevertheless, we also want to ensure that home ownership remains within reach for all Ontarians who aspire to it. As REALTORS® we know that home ownership contributes to the social and economic well being of our municipalities, and helps makes Ontario stronger.