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Darkine
Joined: 06 Apr 2009
Posts: 56
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 Posted: Fri Sep 04, 2009 3:42 pm Post subject: Increase in Municipal Charge by the Region of Halton |
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Did anyone else get this lovely letter in the mail today? I almost had a heart attack when I read it.
Turns out the funds that Mattamy pay's the region directly have increased as of July 15th 2009 and guess what? We have to pay it. As per purchse price agreement secion 9-C, closing costs will increase if this happens... at least in the agreement I signed says that.
So ya, increase by $5,856.00. How the hell is anyone supposed to afford that? Come on really????
Anyone else in the same boat as me?
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Zeeshan Hamid
Joined: 27 Jul 2007
Posts: 3457
Location: Ward 8 (just off of Scott Blvd)
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| Posted: Fri Sep 04, 2009 3:54 pm Post subject: |
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Ouch, I am sorry to hear that. The whole development charge thing is a mess. Existing resident did not care much cuz it hurts new-comers and then people like yourself get screwed.
I did not have a cap on my P&S agreement either, I guess I got lucked out.
To be fair, development charges need to be whatever they need to be to fund new growth. But right now they go in this general fund and don't stay specific to an area. Enough money has been raised from subdivisions around CN tracks on Derry to probably build an underpass, but the money doesn't have to get spent here at all. This is what makes this particularly unfair.
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Last edited by Zeeshan Hamid on Fri Sep 04, 2009 4:05 pm; edited 1 time in total |
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adaminmilton
Joined: 01 May 2009
Posts: 89
Location: Oakville
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| Posted: Fri Sep 04, 2009 4:01 pm Post subject: |
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We got the same letter, But our lawyer put a clause in the purchase agreement and we capped the increase at $1000.00 bucks
So we only have to pay $1000 bucks
Hopefully mattamy will keep fighting the region on this increase |
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fillerguy
Joined: 18 Aug 2008
Posts: 579
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| Posted: Fri Sep 04, 2009 4:32 pm Post subject: Re: Increase in Municipal Charge by the Region of Halton |
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| Darkine wrote: | Did anyone else get this lovely letter in the mail today? I almost had a heart attack when I read it.
Turns out the funds that Mattamy pay's the region directly have increased as of July 15th 2009 and guess what? We have to pay it. As per purchse price agreement secion 9-C, closing costs will increase if this happens... at least in the agreement I signed says that.
So ya, increase by $5,856.00. How the hell is anyone supposed to afford that? Come on really????
Anyone else in the same boat as me? |
As much as that sucks, at least your not a Coscorp customer. Coscorps' lawyer is telling people it's $8100 and allowing Coscorp to pocket the difference. Try dealing with a company where the company and its lawyer knowingly lie to the customer in order to steal their money. Yes, you read that right all you soon-to-be-closing Coscorp customers. Their lawyer is fully aware the #'s from the city are wrong however will not adjust the figures accordingly forcing you to pay knowing that if you don't you'll be in breach of the contract. |
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MiltonNew2009
Joined: 04 Dec 2008
Posts: 297
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| Posted: Fri Sep 04, 2009 4:57 pm Post subject: |
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| Who would this apply to? |
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adaminmilton
Joined: 01 May 2009
Posts: 89
Location: Oakville
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| Posted: Fri Sep 04, 2009 5:12 pm Post subject: |
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| Anyone who bought a house but hasn't closed yet |
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MiltonNew2009
Joined: 04 Dec 2008
Posts: 297
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| Posted: Fri Sep 04, 2009 5:16 pm Post subject: |
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| What is the calculation? |
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miltonLeo
Joined: 22 Sep 2007
Posts: 819
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| Posted: Fri Sep 04, 2009 5:56 pm Post subject: |
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Ours is capped too so we aren't as affected as some others, but regardless I don't understand what the rationale behind this is.
Colin, can you please weigh in on this? Specifically:
1) Is it is true, as I think we've been led to understand from your previous postings, that the total development charges payable by mattamy for the combined town+region have actually decreased year over year from 2008 to 2009?
2) What is the actual amount of dollar decrease of the town's development charges 2008 to 2009?
3) What is the actual amount of dollar increase of the region's development charges 2008 to 2009?
I am wondering if Mattamy is legitimately getting stung by an unforeseen increase payable by them to cover unexpected town+region charges, or if Mattamy is playing silly bugger by charging for the region's increases while pocketing the town's decreases.
Right now we don't have the baseline data to come to a valid conclusion -- can you help? Thank you. |
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Scotian Lotion
Joined: 16 Feb 2009
Posts: 841
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| Posted: Fri Sep 04, 2009 8:03 pm Post subject: |
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We got the letter today too.
WTF, how am I supposed to make $5900 appear for closing? That is our entire 'normal' closing budget. So much for hardwood floors after closing, since they'll be going into this nonsense.
Can the amount not be amended into the purchase price and the mortgage amount be adjusted accordingly with the bank?
I'm pissed at our lawyer too for not thinking to put a cap on ours... you'd think that would be something they'd all try to do. |
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Buttafly77
Joined: 27 Jul 2004
Posts: 538
Location: Nunn Crt baby!
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| Posted: Fri Sep 04, 2009 9:53 pm Post subject: |
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miltonLeo asks some very valid questions and I would also love to hear the answers to them. I just dug through our paperwork to make sure that caps were placed on 9C and it is capped at 1K while 9A and B are capped at 1219.05. I'm sorry to hear that you guys have to pay the extra Darkine and Scotian Lotion- 
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theresa
Joined: 01 Jun 2005
Posts: 1034
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| Posted: Fri Sep 04, 2009 10:44 pm Post subject: |
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| Buttafly77 wrote: | | miltonLeo asks some very valid questions and I would also love to hear the answers to them. I just dug through our paperwork to make sure that caps were placed on 9C and it is capped at 1K while 9A and B are capped at 1219.05. I'm sorry to hear that you guys have to pay the extra Darkine and Scotian Lotion- |
i just checked mine as well
9-c capped at 1k
9-a/b 1518.30
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Scotian Lotion
Joined: 16 Feb 2009
Posts: 841
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| Posted: Fri Sep 04, 2009 10:49 pm Post subject: |
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Who is your lawyer?
I'm going to kick mine in the nuts for doing nothing more than photocopying the agreement and sending it back.
I could have done that myself... |
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theresa
Joined: 01 Jun 2005
Posts: 1034
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| Posted: Fri Sep 04, 2009 11:16 pm Post subject: |
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| Scotian Lotion wrote: | Who is your lawyer?
I'm going to kick mine in the nuts for doing nothing more than photocopying the agreement and sending it back.
I could have done that myself... |
We went with Furlong and something on Ontario - that sucks your lawyer was basically an asshat 
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Devious
Joined: 04 May 2007
Posts: 979
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| Posted: Fri Sep 04, 2009 11:39 pm Post subject: |
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Ours was capped @1K. We went with Harpreet. She actually had her version of the Mattamy agreement with all of her recommended changes so she just sent a form letter and they agreed.
| Scotian Lotion wrote: | Who is your lawyer?
I'm going to kick mine in the nuts for doing nothing more than photocopying the agreement and sending it back.
I could have done that myself... |
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nakerville83
Joined: 18 Jun 2009
Posts: 159
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| Posted: Sat Sep 05, 2009 6:31 am Post subject: |
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| who sent the letter? |
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