Plan and Manage Growth
Desired outcome: Increased ability for growth to pay for growth (no growth related debt by 2041).
Measurement: A reduction in the annual gap between projected Development Charge (DC) revenues and expenditures.
Growth Debt Level
Effective planning plays a key part in helping ensure that the expected population and employment growth in Peel over the next 25 years is sustainable, healthy, economical and supports prosperity.
The Region’s planned revenue from development has not been realized, largely due to under-performance of the non-residential sector, and lower than expected high-density residential growth.
It is anticipated that Peel Region could grow by an additional 500,000 people and 250,000 jobs by 2041. The Region will need to closely monitor and manage the financial risk inherent with investing in long-term infrastructure prior to population and employment growth being actualized.
Over the last four years, we:
- Created joint employment and transportation strategies with Brampton, Caledon and Mississauga and the development industry.
- Developed a preferred growth scenario that was endorsed by Council, which was used to inform preliminary infrastructure and financial planning.
- Established working groups with municipal staff and the development industry to share information and data, and inform decisions on planning, infrastructure investments, and financing growth in Peel.
- Achieved a lower debt level than forecasted of approximately $724 million compared to the 2015 Development Charges Background Study.