B.C. introduces legislation so TransLink can charge developers to fund transit plan
The B.C. government has introduced legislation that would allow TransLink to charge a one-time fee to new developments across Metro Vancouver to help pay for the mayors’ council’s 10-year transportation plan.
The proposed Development Cost Charge (DCC) could be anywhere between $1,200 and $2,100 per new residential unit, and between $0.50 and $1 per commercial square foot.
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“With this funding mechanism in hand, TransLink will be better positioned to implement the vision, which includes improvements to roads and cycling, as well as pedestrian and public-transit infrastructure,” read a release form the province.
According to the provincial government, a number of provisions have been put in place to ensure the “rates are fair and equitable, and that the rates are set and maintained openly and transparently.”
If passed, TransLink would have the ability to provide waivers and reductions to developments providing affordable rental housing.
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The Metro Vancouver Mayors’ Council approved the blueprint for the new levy last December.
TransLink hopes to raise about $20 million per year through the DCCs.
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