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HomeMy WebLinkAboutFSD-011-21Clarington Staff Report If this information is required in an alternate accessible format, please contact the Accessibility Coordinator at 905-623-3379 ext. 2131. Report To: General Government Committee Date of Meeting: March 8, 2021 Report Number: FSD-011-21 Submitted By: Trevor Pinn, Director of Financial Services/Treasurer Andrew C. Reviewed By: Allison, CAO By-law Number: File Number: Resolution#: GG-243-21 Report Subject: 2020 Annual Statement for Cash -in -Lieu of Parkland Recommendation: 1. That Report FSD-011-21 be received for information. Municipality of Clarington Report FSD-011-21 Report Overview Page 2 This report complies with amendments to the Planning Act, 1990 which became effective in 2016. The Smart Growth for Our Communities Act, 2015 requires reporting on Section 37 (Increased Density) and Section 42 (Conveyance of land for park purposes). This report discloses the annual activity in the Parkland Cash -in -Lieu Reserve Fund for 2020. There is nothing to report for increased density funds, at this time. 1. Background 1.1 In accordance with Section 37 (Increased Density) and Section 42 (Cash -in -Lieu of Parkland) of the Planning Act, the Treasurer must provide a financial statement including opening and closing balances to Council relating to cash -in -lieu of parkland monies and increased density funding. This statement must be made available to the public. 2. Section 42 (Conveyance of land for park purposes) 2.1 Under Section 42 of the Planning Act, a municipality may require, as a condition of development, that land be conveyed to the municipality for park or other public recreational purposes. In certain circumstances, Council may require a payment in lieu of land dedication, to the value of the land otherwise required to be conveyed. 2.2 These funds must be held in a special account (Reserve Fund), allocated interest and spent only for the acquisition of land to be used for park or other recreational purposes, including the erection, improvement or repair of buildings and the acquisition of machinery, particular to park purposes. 2.3 Attachment #1 details the Statement of the Treasurer, in compliance with the Act. 3. Section 37 (Increased Density) 3.1 Clarington does not currently have a program set up for Section 37; therefore, an annual statement is not required. The Official Plan has a section on "community benefits" (Section 37) but Clarington does not have a market that would make this provision useful at this time. The Official Plan provision is in place to allow Clarington to consider this opportunity in the future. As a result, there is no Statement of the Treasurer required. 4. Concurrence Not Applicable. Municipality of Clarington Report FSD-011-21 5. Conclusion Page 3 It is respectfully recommended that this report, as required by Section 42 of the Planning Act, 1990 be received for information and be made available to the public by posting on the Municipality's website. Staff Contact: Michelle Pick, Accounting Services Manager / Deputy Treasurer, 905-623-3379 ext. 2605, mpick@clarington.net Attachments: Attachment 1 — Cash -in -lieu of Parkland Reserve Fund for the year ended December 31, 2020 Interested Parties: There are no interested parties to be notified of Council's decision. Attachment 1 to Report FSD-011-21 Municipality of Clarington Cash -in -lieu of Parkland Reserve Fund For the Year Ended December 31, 2020 Parkland R/F (504) Balance as of December 31, 2019 3,170,856 Plus: Cash -in -lieu Collected in 2020 2020 Reserve Fund Interest 553,376 56,951 Subtotal 610,327 Less: Amount Transferred to Capital Fund - Land Acquisition Costs 30,000 Subtotal 30,000 Closing Balance as of December 31, 2020 3,751,183 Committed Amounts from Prior Years - Available at December 31, 2020 1 3,751,183