Town council is considering reducing or waiving development cost charges (DCCs) for affordable housing projects.
That’s one issue on Monday’s agenda.
Director of Development Services Randy Houle has recommended the Town provide a 50 per cent reduction for non-profit rental housing and for-profit affordable rental housing.
He noted this amendment to the bylaw will result in a decrease in DCCs received by the Town, which help fund future capital projects.
“That being said, this amendment can be viewed as the Town’s contribution to much-needed affordable housing projects,” Houle said.
He noted the new affordable housing project at 5931 Airport Street is requesting the waiving or reduction of the $225,000 in DCCs. The bylaw currently has no provision to waive these fees.
Houle said staff do not recommend waiving or reducing DCCs for supportive living housing or developments that reduce greenhouse gas emissions.
But Houle indicated that staff consider a 50 per cent reduction as a win-win situation that assists and encourages affordable housing projects in the community.