Barbara Yaffe: Vancouver owes developers a clear and efficient way of setting amenity contributions

Barbara Yaffe: Vancouver owes developers a clear and efficient way of setting amenity contributions.

Quoting in part:

Amenity contributions have been paid by developers for years in exchange for building-density bonuses awarded by the municipality.

Here’s how the system works: When Vancouver rezones a developer’s land to award it greater density, boosting profit for the developer because they can build more residential units — it turns around and negotiates with the developer for a payment of 70 to 80 per cent of a designated portion of his expected additional profit, to be used for community amenities.

 

Read more: http://www.vancouversun.com/business/Barbara+Yaffe+Vancouver+owes+developers+clear+efficient+setting+amenity+contributions/9615210/story.html#ixzz2w3DecL4n

Voices comment: in the City of North Vancouver the policy (or lack of) has resulted in wide variations to developers.  The new policy may restrict this, details including statistics of previous recent developments:  http://www.cnv.org/~/media/483FAFFDA5AB43D1906AAAA2EC064FEF.pdf

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