Cash-in-Lieu of Parkland

WHEREAS Section 941 of the Local Government Act requires subdivision developments to provide either five percent of the land as greenspaceparks or an equivalent amount of cash-in-lieu of parkland at the discretion of the developer, rather than the choice of the local government; AND WHEREAS current legislation does not ensure the cash-in-lieu option returns equitable value to the community or the local government: THEREFORE BE IT RESOLVED that the Union of BC Municipalities recommend that the provincial government amend the Local Government Act to ensure that, if cash-in-lieu is the option chosen, the amount be based on the expected sale value of the land after subdivision, as opposed to the value of the undeveloped property.