At last week’s council meeting, councillors voted to direct staff to develop the background report for the Development Cost Charges.
The tabled bylaw currently proposes a $13,711 for development of a multi-family development house. Commercial developments would be charged $158.26 per square metre, industrial developments would pay $283,600 per hectare of a portion of the site to be developed and institutional development rate would sit at $116.13 per square metre.
The tabled bylaw also has the municipal assist factors, which is how much taxpayer money is used for the infrastructure projects, initially be set at one per cent for transportation, 50 per cent for parks and 60 per cent for sanitary phased to 50 per cent over five years.
However, council wanted everyone to know that these numbers are not set in stone, and this is only the first reading of the proposed bylaw update.
This is not the final outcome, said Mayor Mark McKee.
“I am really concerned about making a decision moving forward because we are all trying to get information,” McKee said. “I am hoping that staff and the public are both aware that this is a really huge decision to make around this table because there is huge implications for everybody.”
The decision to move forward with an amended version of “Option 5” was made at the Committee of the Whole meeting on July 12.
Now that the bylaw has been brought before council, city staff will prepare a background report and city council can have discussions at the table, with the public and with the researchers in order to decide on the rates that they think will be best for the community.