A recent decision issued by the Ontario Municipal Board
highlights an opportunity for developers who feel they have been
overcharged for parkland dedication fees in Ontario. Given the size
of many developments, cash-in-lieu of parkland dedication fees can
run into the millions. The ability to challenge the underlying
appraised property value and receive a refund of some of these fees
may therefore materially impact a project's bottom line.
Parkland Dedication, Cash-in-Lieu Payments and Payment in
Protest
On November 27, 2012 the Board issued a decision ordering the
City of Toronto to refund $318,376.68 plus interest to Pinnacle
International (Adelaide Street) Limited. The money had been paid as
cash-in-lieu of parkland dedication as part of a redevelopment of
Pinnacle's property at 295 Adelaide Street West (the southwest
corner at John Street). The property had been rezoned to permit 43
storeys, with 40,785 sq. m. of residential development and 1,067
sq. m. of
