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Proposed new inflationary adjustments of DCL, CAC Targets & Density Bonus Contributions

June 22, 2016

Please be advised that new inflation adjusted DCL rates, Fixed Rate CAC Targets and Density Bonus contributions are proposed to come into effect on September 30, 2016. Staff will be recommending these new rates to Council on July 27, 2016. The proposed rate adjustment for 2016 represents an approximate 4.5% rate increase over 2015 rates. Note that Fixed Rate CAC targets and Density Bonus contributions are being adjusted for the first time and include a one-time “catch up” for past inflation to reflect inflation since the CAC targets and DBZ contributions were first adopted. In May 2016, City Council adopted the DCL inflationary rate adjustment system for annual adjustments to CAC targets and Density Bonus Contributions.

The annual inflationary rate adjustment system is adjusted annually for changes in property and construction inflation. Rates are adjusted annually through a report to Council every June or July, with new rates effective on September 30th of every year. For more information on the Council adopted annual inflationary rate adjustment system, visit www.vancouver.ca/financegrowth.

DCL Bulletin:

http://vancouver.ca/files/cov/development-cost-levies-bulletin.pdf

CAC Bulletin:

http://vancouver.ca/files/cov/community-amenity-contributions-through-rezonings.pdf

Density Bonus Bulletins

Marpole: http://former.vancouver.ca/commsvcs/Bylaws/bulletin/M001.pdf

Norquay: http://former.vancouver.ca/commsvcs/Bylaws/bulletin/F012.pdf

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