This provision empowers Councils to opt for Cash-In-Lieu (CIL) in lieu of parkland dedication, an amount equivalent to the land’s value that would have been otherwise been conveyed. The funds garnered through CIL are earmarked and reserved for the explicit purpose of parkland acquisition or development, ensuring that communities continue to thrive and enjoy accessible green spaces.
In cases where disputes arise over the Section 42 valuation, an application to the Ontario Land Tribunal is guided by the Planning Act. The Planning Act stipulates that the required CIL amount is to be determined based on the appraised value of the lands that would have been slated for dedication. This is typically set prior to the issuance of the inaugural building permit. The Tribunal’s valuation process closely aligns with the standards set forth in the Expropriations Act, ensuring a fair and equitable resolution.
At MPR Advisors Inc., we stand as industry leaders in appraising development land for Cash-In-Lieu of Parkland determinations, meticulously representing the interests of both developers and municipalities. Our appraisals have not only stood the test of scrutiny but have also been relied upon as evidence in Ontario Land Tribunal (OLT) hearings.
What sets us apart is our rare combination of planning and appraisal expertise, affording us a unique vantage point for such assessments. Additionally, we have undertaken comprehensive studies on behalf of municipalities, aiding in the establishment of city-wide fixed-rate charges for Cash-In-Lieu of parkland, further demonstrating our commitment to shaping thriving, green communities.
