t t

The graph shows that the volume of applications reached a peak in the
latter half of 1992 and early 1993. In the latter half of 1993, the volume of
applications dropped dramatically. The number of applications is expected to
rise moderately over the next year (based on historica! trends).

The number of Building Permits issued is expected to reflect the trends
anticipated for development applications.

As the market place has adjusted, which resulted in a sharp drop in
development applications, it does not appear that a moratorium on development
would be meaningful.

It is therefore appropriate that development applications continue to be
considered on the bases of its individual merits, compliance with long range
plans, bylaws and guidelines. .

>

Carlos Felip, M. Arch., M.C.I.P.
Registered Planner, Director of Planning

JIL/gg

1D655/17-18