City of Markham Revised Council Meeting Agenda 2026-05-26
Markham grants development charge deferral for Flato hotel
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Description
The City of Markham approved a development charges deferral agreement with Flato Lifestyle City Centre Inc. for a 102-room hotel at 2695 Elgin Mills Road East, deferring payment until first occupancy or May 31, 2028. The arrangement includes interest charges and security through a Letter of Credit or Pay-on-Demand Surety Bond.
Contract Details
Vendor
FLATO LIFESTYLE CITY CENTRE INC
Agency
City of Markham, Canada
Contract Type
FINANCIAL_SERVICES
Document Date
May 26, 2026
Contract Term
Deferral until the earlier of first occupancy or May 31, 2028
Renewal Date
2028-05-31
Renewal Info
Treasurer granted delegated authority to approve similar hotel development charge deferrals for projects achieving building permit issuance by June 1, 2027, with deferrals lasting until the earlier of first occupancy or two years from permit issuance.
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