Langley mayors welcome change to developer fees

Langley mayors welcome change to developer fees

Provincial change means builders will pay less up front when starting housing construction

Province hopes changes to DCCs spur investment in new housing across B.C.

KAMLOOPS — This week, the Province of B.C. announced structural changes to development dost charges (DCC) in an attempt to spur development of much need housing units. DCC’s are fees paid by developers to municipalities when they build a new project, and the money is used to fund infrastructure upgrades in the area. As of next year, they’ll only have to pay 25 per cent of the fees up front, and the other 75 per cent can be deferred for four year…

Peel Region approves major overhaul of development charges to spur housing construction - Ontario Construction News

Ontario Construction News staff Peel Regional Council has approved what it’s calling a “historic shift” in how the region funds infrastructure, introducing measures aimed at accelerating housing construction and easing the financial burden on builders. In a unanimous vote, council endorsed a motion to temporarily slash development charges and defer payment deadlines, while pursuing new […] The post Peel Region approves major overhaul of developm…