At their regular meeting on July 29th, Council adopted the proposed amendments to the City’s Security Deposit Policy in order to align it with current banking regulations, provincial legislation that will mandate the acceptance of on-demand surety bonds in early 2026, and City initiatives underway to support accelerating the development process. The amendments update the Security Deposit Policy to introduce the use of On-Demand Surety Bonds as an alternative form of security for the City’s Development Cost Charge installment payments, in addition to cash and letters of credit.  

Additional information can be found in the  full report by City staff,  Security Deposit Policy and  DCC Installment Payment Due Dates.