Developers planning to build in Squamish will have to pay more to the District of Squamish for infrastructure-related costs.
At a meeting this Tuesday, Squamish Council voted unanimously to approve an increase in Development Cost Charges (DCCs), money charged to developer that pays for a municipality’s infrastructure needs. The District said it was updating the charges based on infrastructure needs and costs it identified through recently completed master plans and studies.
The biggest increase of 15 per cent is for single-detached residential, which will see the cost increase from $18,854 to $21,616. The next biggest increase is for Institutional development, which will see charges increase from $90.10 to $99.89 per square metre.
The updated rates will allow the District to collect revenue that more accurately reflects the costs of infrastructure required to service community growth, says the District report. “The DCC Bylaw is an important mechanism to enable the District to fund key infrastructure projects that ensure the long-range resiliency and sustainability of our community,” the report says.
