The City is advancing a new Development Cost Charge bylaw (N…

The City is advancing a new Development Cost Charge bylaw (No. 7449) through three readings, which would establish a 50% DCC reduction for not-for-profit rental and supportive housing projects. Final adoption is contingent on simultaneous repeal of the existing 2017 DCC Bylaw No. 7252 and passage of replacement DCC bylaws. For developers and non-profit housing providers, this signals a meaningful near-term reduction in upfront cost obligations for qualifying affordable housing projects. Watch for the concurrent bylaw package at final reading to confirm when the new rates take effect.

The City is advancing a new Development Cost Charge bylaw (No. 7449) through three readings, which would establish a…