05-17-2016, 08:08 AM
(05-17-2016, 12:03 AM)tomh009 Wrote:(05-16-2016, 09:58 PM)Spokes Wrote: While I'm glad to see something happening here, I'd like to see some sort of timeline put on the lot to be developed. That should have happened already though IMO
Alas, the city really has no tools to force development.
Personally, I think it could make sense to have differential property tax rates for developed and undeveloped (or abanadoned) properties.
I've often wondered whether the City couldn't implement a municipal tax regime that would discourage developers from leaving urban lots unredeveloped for long periods of time? In Kitchener's case, prime locations in the core can site for years or even decades without being redeveloped. In the case of the Mayfair site there seems to be a vague sense that the site will be built on within the next couple of years - two years would be the point where I'd like to see taxes start to rise to incentivize developers to get on with it.