February 18, 2015 - 12:30 PM
In an effort to encourage revitalization in Westbank Centre, West Kelowna Council is considering a reduction in Development Cost Charges (DCCs) for the area. Council wants to know what the public thinks about this initiative.
Council gave first, second and third reading of the Westbank Centre Development Cost Charges Reduction Bylaw on January 13 and is now seeking public input. DCCs may be charged by a municipality to a developer to assist in paying for capital costs of providing and improving public infrastructure. A DCC reduction, stemming from a recommendation in the Westbank Centre Revitalization Plan, is intended to accelerate development in the area. Development industry representatives have advised the District that existing market conditions, coupled with an increase in construction costs, are making it difficult to commence desired projects and have requested that the District explore reductions for certain fees to assist with private sector investment in Westbank Centre.
A DCC reduction bylaw signals to the development community that the District strongly supports the creation of a strong economic and social core within the community. Development that occurs within the Westbank Centre boundary that meets certain criteria may be eligible for a DCC reduction according to the draft bylaw. The draft bylaw has been scaled to feature a deeper reduction for higher density, mixed use projects and smaller reductions for projects that propose less density.
The draft bylaw would expire on March 1, 2018, roughly three years from the proposed adoption of the bylaw.
For more information, visit www.districtofwestkelowna.ca/WestbankCentre. Input can be provided by calling Development Services at 778-797-8838, emailing info@districtofwestkelowna.ca or mailing comments to 2760 Cameron Road, West Kelowna, BC V1Z 2T6.
News from © iNFOnews, 2015