The Development Charges Act, 1997 requires municipalities to complete detailed background studies. These studies must include, among other matters, estimates of projected growth, estimates of new services necessitated by that growth, and estimates of the capital costs of infrastructure projects required to meet the increased need for services.
The Development Charges Act, 1997 requires municipalities to create separate reserve funds for each service identified by the development charge by-law. The municipal treasurer is required to provide an annual statement of development charge reserves to the municipal council and the Ministry of Municipal Affairs and Housing. The statement should include: