Funding gap to be audited

Ontario’s municipal affairs and housing minister, Steve Clark, is telling the city of Toronto the province is launching a third-party audit of municipal finances to determine if the municipality will see any shortfall in revenue as a result of a provincial housing law. The legislature has passed a bill that would, in part, freeze, reduce and exempt fees developers pay on certain builds such as affordable housing. Those fees go to municipalities and are used to pay for services to support new homes, such as road and sewer infrastructure and communities have expressed concern they will have to raise property taxes to fund those services.