There are real benefits which flow from creating a Municipal Development Corporation to act as Master Developer.
OakvilleMDC is able to respond to and negotiate with the private sector outside of the political system. Developers have a different set of interests than municipal governments and the ability to negotiate outside of the political environment and at the same pace as the private sector will enhance the marketability and demand for town lands.
As a stand-alone corporation, there is a clear separation of roles between the OakvilleMDC and the town. This removes any conflict between the Town Council’s statutory responsibility as the planning approval authority and clearly separates town staff’s roles and responsibilities for planning matters. As the Master Developer, the OakvilleMDC will be applicant in all instances.
The OakvilleMDC has the ability to negotiate a wider variety of commercial relationships with developers, builders and other agencies in the form of partnerships, joint ventures and equity opportunities. Through these transactions, the OakvilleMDC will be able to maximize the absolute value of the town’s landholdings and to generate a long-term revenue stream to the town.