New development charges move ahead to fund Metro Vancouver transit

The mayors’ council has approved a plan to raise $20 million a year

The mayors’ council on regional transportation has approved a new development cost charge to help fund much-needed transit and transportation projects.

On Thursday, TransLink said the council has decided on residential rates between $1,200 and $2,100 per unit of new developments and non-residential rates between $0.50 and $1 per square foot.

“Without it, TransLink will have to find a new funding source or defer much needed improvements,” said Vancouver Mayor Gregor Robertson.

The council had already set out that development cost charge must not impair the viability of new development projects, nor slow the pace of them.

The mayors’ goal is to raise $20 million per year with this new rate to help fund projects as part of their 10-year transportation plan, including Expo and Millennium Line upgrades, more buses, and a new SeaBus.

The Metro Vancouver politicians have been hunting for ways to raise money in other ways, such as road pricing. They have long balked at the previous Liberal government’s suggestion of raising property taxes.

Any adjustments on the proposal will be made in 2018 through consultation.

The plan now goes before the TransLink board of directors. If then approved by the province, the charge could be in place by 2020.

Just Posted

Late-winter snow storm blankets Lower Mainland

Some areas got up to half a foot of snow

Freezing temperatures expected in Lower Mainland

Snowfall warning ends, but surge or icy air to continue

Proponent of controversial quarry looking to get out

Sumas Mountain mine has triggered widespread opposition

Public art to adorn pedestrian/cycling overpass

City of Abbotsford now taking submissions for $57,000 piece of art

Body of missing skier found

Man’s truck found in Revelstoke Mountain Resort’s parking lot covered in ‘several days’ snow’

B.C. VIEWS: Subsidy supercluster settles in B.C.

Ottawa, Victoria add to their overlapping ‘innovation’ budgets

OLYMPIC ROUNDUP: Canada’s first ever men’s ski slopestyle medal

Men’s hockey team beats South Korea and women’s curling reverses losing streak

Canada’s Beaulieu-Marchand wins bronze in Olympic slopestyle

The skier from Quebec City scored 92.40 on his second run

Russian athlete suspected of doping at PyeongChang Olympics

The case could be an obstacle to Russia’s efforts to have the Russian team formally reinstated

Vancouver Giants fall with only 10 second left against Victoria

A Langley hockey team dropped a 4-3 game on the Island, before returing home to play Red Deer today.

Most Read