Development Cost Charge Update

The City of Vernon is proposing to provide an interim update to the Development Cost Charges Bylaw #3769 in advance of a major revision that will be proposed as part of the adoption of the new Official Community Plan in 2008. The interim update is proposed to be presented to City Council for initial readings on February 11, 2008 with 3rd reading by City Council on February 25, 2008.

The interim update includes the following key components:

1. Updated Construction Cost Estimates
   Due to the significant increase in construction costs since the last DCC cost update in 2005, project costs have been updated to reflect the current day costs.
   
   
2. Waiver of DCCs for Non-Profit Rental Housing
   Waiver of DCCs for non-profit rental housing units based on the Attainable Housing Strategy recommendations.
   
   

1. Correction of Inequity between Single Family and Multi Family Units
   Currently both multi family and single family development units are assessed the same DCC rate. Multi family units typically do not have the same impact on City infrastructure as single family development units and should be assessed accordingly. The proposed bylaw amendment will reduce the multi family DCC rate to 60% of single family rate, correcting the inequity in charges between single family development units and multi family development units.
2. Public Notice
3. What are DCC's
4. Why update DCC's
5. Current Vs Proposed DCC Rates
6. Location Map of Current DCC Projects
7. Staff report to Council recommending interim update
8. Summary of Project Increases