Metro Vancouver developers request officials to waive or defer development cost charges, proposing homebuyers finance them directly.
Metro Vancouver developers are urging regional officials to waive or defer development cost charges (DCCs) due to rising construction costs and interest rates. DCCs fund essential infrastructure like roads and sewers but haven't been increased in decades, leading to a funding deficit. A proposal suggests homebuyers finance DCCs directly, potentially easing developer burdens. Some officials remain skeptical about whether this would enhance housing affordability.
October 22, 2024
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