Whereas the development finance system has not changed significantly since the introduction of development cost charges by the Province in the late 1970s, despite the fact that BC communities are challenged to meet unprecedented demands for hard infrastructure and soft infrastructure amenities essential to support development as part of a sustainable, livable and complete community; And whereas local governments support the concept that development should pay for its share of the infrastructure and amenities, it is imperative that the principles of transparency, consistency, fairness and certainty provide the foundation of the development finance system so that all parties local governments, development industry, the Province, general public benefit by clearly understanding how growth and development are financed: Therefore be it resolved that UBCM: - reiterate support for the principle that growth should pay for its share of the infrastructure and amenities to support it, not property taxpayers; - continue to dispel the myth that development cost charges and other local government processes are driving the high cost of housing; - advocate for a local government development finance system that addresses transparency, consistency, fairness and certainty to the benefit of the development industry, local governments and the public; - advocate for a local government development finance system that provides flexible tools and reflects real and current challenges in building sustainable livable and complete communities, in keeping with previously endorsed UBCM resolutions; and - continue to work collaboratively through the Provinces Development Finance Review Committee to seek changes to the existing development finance system that will address the present challenges facing local governments.
Ministry of Community, Sport and Cultural Development The Province fully supports the principle that new development pay a portion of growth related infrastructure costs, and that the method for determining these costs be transparent, consistent, equitable, and reasonably flexible for all parties. Thus, the Province provides local governments with a wide range of statutory development financing tools such as Development Cost Charges, Parkland Acquisition Fees, Latecomer Agreements, Development Works Agreements, and others. Through the Development Finance Review Committee, the Province will continue to work collaboratively on issues of development finance with local governments and the broader development community.