The Region of Waterloo and the developer of 140 Old Mill Road in Cambridge have reached a settlement regarding development charges. Both parties agreed to settle in order to avoid the costs of further litigation, allowing those funds to instead be directed toward community priorities. 

As part of the agreement, the developer will pay over 75% of the charges originally sought by the Region. 

“The Region is pleased that the developer will pay the majority of the development charges,” said Councillor Michael Harris, Chair of the Region’s Strategic Planning and Budget Committee. “This is a good deal for residents and for the Region of Waterloo. It will ensure additional funding for major infrastructure, helping us achieve our strategic objectives as the Region continues to grow.”

As a result, the Region will withdraw its motion for leave to appeal to the Ontario Divisional Court. 

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