VANCOUVER — The City of Vancouver’s council is trying to simplify community amenity contributions in order to get more houses built.
Vancouver is planning to add more fixed-rate contributions to add financial predictability to low- and mid-rise residential developments in the city.
“This fixed-rate system for low and mid-rise housing will reduce development cost uncertainty while protecting important community amenity contributions,” said Mayor Ken Sim in a news release.
Community Amenity Contributions are in-kind or cash contributions provided by property developers when development rights through rezoning are granted.
They are used to help the city pay for things like affordable housing, parks, child care facilities and other community amenities beyond the use of taxation, according to the release.
The new framework for Community Amenity Contributions will be presented to council in early 2024.