rennie_landscape_Spring_2020

policy

TRANSLINK'S NEW DEVELOPMENT COST CHARGES As of January 15, 2020, new development cost charges (DCCs) are now applied to new developments in Metro Vancouver to help fund the constructionor expansionof regional transportation projects by TransLink. This

ranging from $1,200 per apartment dwelling to $2,100 per single family home. While not insignificant in their current iteration, these rates are set to increase on January 15, 2021: for example, the apartment DCC will rise to $1,545 per unit while the single family charge will increase to $2,975. Ultimately, the burden of these charges will be shared by land owners and developers (with, in many cases, these two parties being one and the same).

new “Regional Transportation DCC” was introduced in 2018 to assist in paying for eligible projects of the Phase One and Phase Two Investment Plan. The DCC rates vary according to the type of development that is being undertaken,

Copyright © 2020 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of December 6, 2019. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.

rennie.com

46

Made with FlippingBook - professional solution for displaying marketing and sales documents online