Brampton council is hoping recent changes to the city’s development charges bylaws will attract corporations and small businesses to Canada’s ninth-largest city.

In June, council passed a motion instituting a number of changes to the city’s development charges after Hemson Consulting Ltd. did a background study and provided a report to members of council in May.

“The new Major Office Development Charge Exemption will waive Brampton’s portion of DCs (charges) for ‘major office development,’ which is defined as a free-standing building of at least 50,000 square feet and at least two storeys tall. This change will incentivize major corporations to locate their head offices in Brampton,” wrote the city in a release.

“Another change to the DC bylaw, the Change of Use Exemption, will exempt some change-of-use conversions (industrial to commercial) from DCs, encouraging small businesses to locate in spaces previously used for industrial purposes,” it added.

The changes recommended and adopted by council are aimed at attracting business to the city, from small and medium-sized firms to large corporate headquarters.

The city’s current bylaws were set to expire in August. They are the primary revenue tool for all municipalities when it comes to funding infrastructure.

The city has also removed a discount for hotels and placed “cannabis facilities” under the industrial rate now that the product is legal and being produced and sold across the province.

While approved on June 19, the new rates will come into effect Aug. 1, the day after the Ontario government’s Bill 108 — otherwise known as the “More Homes, More Choice Act, 2019” — is set to become law.

A report to council by capital and development finance manager Janet Lee says the legislation could have a significant impact on the city’s bottom line if not passed by that date.

“Given the extensive deferrals and 'freezing' of DC rates that were included as part of Bill 108, it is of the utmost importance to have the new DC rates in place upon proclamation to minimize any potential revenue loss,” she said.