Owen Sound city council is waiving development charges totalling $356,500 for two residential projects, despite the projects not meeting deadlines set out in a council-approved grace period.
Mayor Ian Boddy said this is council's way of encouraging more development in Owen Sound, saying the city is in dire need of more rental space and affordable housing.
One of the projects will see the former Strathcona School converted into 68 apartments, something Boddy said he feels will drive down home prices in the area.
Council has set a deadline for occupancy of December 31, 2020.
Owen Sound had a grace period for development charges end on March 1, which included a term that stated occupancy must take place within one year.
