Coldstream is proposing to increase development cost charges to developers planning projects.
Mayor Jim Garlick says it’s been ten years since those costs have been looked at.
“They’re going up somewhat but overall if we looked at the Consumer Price Index and over those ten years, probably the amount it’s going up
is less than that would have in inflation”
Garlick says the charges will go up by about three thousand dollars per lot.
Council feels it’s a fair rate.
“So if somebody came in and they had a piece of land and they subdivided it into five lots then they would be paying around 14 thousand dollars per lot in development cost charges.”
The motion came from council’s Committee of the Whole and will go to the full council meeting October 10th.
“And then it would move forward, the writing of the bylaw. It’ll be going to a draft form.Then it would be presented at a public forum.”
Garlick figures there are about 900 building lots in the area.
He says the decision on how much to charge comes through a formula based on city services and needs and a determination of population growth