Vancouver to look into limited fee holidays

first_imgDeveloper Dave White wants to build Mountain Terrace — a $10 million development featuring 130 townhouses, a gymnasium and a day care — on his property along Northeast 162nd Avenue.But banks are “cherry-picking” only the best projects for lending, and with $1 million in city permitting and other fees before he hammers a nail, White said he and other developers could use a city fee holiday.“We’d just like any help we can get to make this pencil so banks find it attractive,” said White, who lobbied to have the property annexed into the city in 2006. “This is the difference of building and not building.”However, it’s not clear how inclined the Vancouver City Council — which would make the final call on any temporary or permanent fee holidays — is to giving public subsidies to builders.In a Monday workshop, city staff outlined how a fee holiday process could work in Vancouver, but said they believed it is too complicated and too costly to pan out. The Community Development Department relies almost entirely on permit and other fees. When a government puts in a fee holiday, staff explained, the money has to be covered by the city’s already strained budget.last_img

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