Where to burn the DCC cash

Where to burn the DCC cash

0
SHARE

The Town of Oliver is eagerly counting the money in its development cost charges (DCC) piggy bank to see what projects to complete.

Chief Financial Officer Doug Leahy presented a report to council on Monday outlining the funds that have been collected.

He noted there is $1.6 million in the DCC fund, including $156,000 in the water fund, $517,000 for roads and $894,000 for parks and open spaces.
Development cost charges are special levies imposed by a municipality to help pay for the cost of infrastructure enhancements required to service new developments.

The Local Government Act is very specific about which facilities may be funded by DCCs, which are limited to roads and trails, sewer treatment, water supply and parkland.
Under road projects, council has identified a bridge (over the river) at Veterans Avenue at a cost of $3 million. Another project is the $1.9 million Station Street corridor, which is partially complete.

Under parks, council is looking at developing a new public park on Tucelnuit Lake at a cost of $1.5 million. It was noted that the Riverside walkway project was completed using DCC money.

Under water projects, DCCs helped to pay for the Town’s universal water metering.

LEAVE A REPLY