Title
2022 Off-Site Levy Reimbursement
Proposed Motion
1.That the 2022 Off-Site Levy reimbursement report be received for information, as presented.
2.That Council approve the transfer of Off-Site Levy reimbursement in the amount of $4,596,778 to Developer Recoveries restricted surplus.
Body
Administration Recommendation
Administration supports the proposed motion as it is consistent with the requirements under the Municipal Government Act, Council Policy C-PD05 Off-Site Infrastructure Levies, and Administrative Procedures C-PD05-P1 Off-Site Levy Assessment and Collection.
Purpose
To provide Council with an update on the allocation of off-site levy funds towards reimbursement of front-ending owing on identified and approved Off-Site Levy (OSL) projects under Bylaw 2015-07.
Summary
Parkland County’s Off-Site Levy Assessment and Collection administrative procedure C-PD05-P1 sets out the processes regarding OSL assessment, collection, and reimbursement. Collected off-site levy funds can be used either to finance new off-site infrastructure or to reimburse Parkland County and/or private developers who have previously front-ended OSL infrastructure.
Parkland County has undertaken the front-ending of major servicing infrastructure to facilitate growth and development in the Acheson Industrial area with the intent to recover these front-ending costs through OSL collection from benefiting developers. As such, Administration’s OSL Committee recommends allocating collected OSL funds currently held in deferred revenue to the Developer Recoveries restricted surplus.
With the exception of one private developer, all private developers who have previously front-ended eligible OSL infrastructure projects were paid fully in 2021. As a result, Parkland County is the only eligible recipient of OSL reimbursement in 2022 in the amount of $4,596,778.
Strategic Plan/Policy/Legal/Staff Implications
The allocation of off-site levy funds towards reimbursement of front-ending owing on identified and approved OSL projects under Bylaw 2015-07 is consistent with the requirements under the Municipal Government Act (MGA), Division 6, Sections 648-651, Council Policy C-PD05 Off-Site Infrastructure Levies, and Administrative Procedures C-PD05-P1 Off-Site Levy Assessment and Collection.
Financial Impact
Allocation of the collected levy funds towards reimbursement will have a positive impact on the County’s financial activities as the County is a major front-ending party claiming reimbursement costs for qualified OSL projects. The County will receive approximately $4.6M.
Cost: $4,596,778
Source of Funding: Revenue