Vancouverisawesome.com
Metro Vancouver politicians have approved more than tripling construction fees for new housing units despite opposition from federal housing minister Sean Fraser and concern Fraser will withhold municipal subsidies.
On Friday, the Metro Vancouver board, comprising of municipal council members, unanimously approved the development cost charges (DCC) to pay for $11.5 billion of growth-related park, water and sewer infrastructure over the next three decades. Fees will vary slightly within the region; however, one townhouse unit in Vancouver, for example, will be charged $30,861 by 2027, up from $10,027 today. …
Richmond Mayor Malcolm Brodie spoke in favour of the DCCs.
“Every time you talk about a DCC we get the same input from industry; it’s all doom and gloom and you’re challenging affordability. I don’t think it has anything to do with affordability I think the market sets the rate. We are talking about development profits based on the market,” said Brodie.
Brodie is among the longest serving Metro Vancouver directors. …