Burlington Council Unanimously Approves First Major Motion from P2P Committee on Surety Bonds

At our meeting on March 19, Burlington City Council unanimously approved the first major motion recommended by the Pipeline to Permit Committee dealing with surety bonds.The full motion is below:

• Direct the Acting Financial Officer or designated to, at minimum, but not limited to consult with the West End Home Builders Association (WE-HBA) and Marsh Canada Limited to explore how to implement a Modern Pay-on-Demand Surety Bond program for the City of Burlington and report back to the Pipeline to Permit Committee by the end of Q2 2024.

At our March 7 Pipeline to Permit Committee meeting, we had a presentation on Surety Bonds provided by March Canada Limited's Stephanie Kuntz and Brandon Kassies. View a copy of their presentation here: 2024-03-07 City of Burlington - Development Bond Presentation v2.pdfMY TAKE: This is a great way to move forward and I'm interested in how we might do things better and faster, while exploring how this might work for Burlington. I want to thank all of the members of our P2P Committee for advancing this matter. I look forward to the additional information and discussion we will have on this later this year.