Development charges provide for the recovery of growth-related capital expenditures from new development.
Current Interest Rate: 5.15%
Development Charges By-law
The Development Charges By-law establishes municipal-wide development charges for the City of Barrie. Background studies have provided the basis for updating the Development Charges By-law, which was most recently updated in 2023.
Education Development Charges (EDC)
School boards are responsible for setting the EDC rates. Please visit the Simcoe County District School Board's website for the SCDSB Education Development Charge By-law and the Simcoe Muskoka Catholic District School Board's website for the SMCDSB Education Development Charges By-law.
Interest
The interest rate is determined using the lower of the City’s five-year moving average cost of capital (WACC) and the average prime rate + 1%. WACC is unique to each organization and considers both internal and external factors to evaluate the cost of delaying the receipt of funds. The City updates its WACC semi-annually or may do so at any other time should conditions so warrant.
Development charges that are not crystallized are subject to an annual inflationary adjustment on January 1st of each year.
Deferral of Development Charge Payments (DCs)
- For Rental Housing that is Not Non-Profit Housing (minimum 4 units - all of which are intended for rental use): DCs will be due in 6 equal annual payments plus interest commencing on the earlier of the date of the issuance of an occupancy permit or the date the building is first occupied. The person required to pay development charges is required to notify the City within 5 business days of the building first being occupied. Failure to notify the City will result in the development charge, including any interest payable becoming due and payable immediately.
- For institutional development: DCs will be due in 6 equal annual payments plus interest commencing on the earlier of the date of the issuance of an occupancy permit or the date the building is first occupied. The person required to pay development charges is required to notify the City within 5 business days of the building first being occupied. Failure to notify the City will result in the development charge, including any interest payable becoming due and payable immediately
Development Charge Rate Freezes
The following applies to Complete Site Plan Applications and Zoning By-law amendment Applications accepted by the City on/after January 1, 2020. The amount of development charges are determined on:
a) the day an application for an approval of development in a site plan control area;
b) if clause a) does not apply, the day an application for an amendment to the zoning by-law was made.
c) If neither clause a) nor clause b) applies, the day before the first building permit is issued.
If a) or b) applies, the total development charge amounts will remain crystallized for a maximum of two years from the date of Application Approval (the date being when the Development Services Department issued Conditions for Approval). The total crystallized development charge amount will be indexed and become payable at the time development charges are due. The indexing amount will accrue from the date of complete application.