At the Planning and Development Committee on October 8, Council approved the proposed approach on processing development fees and charges for the new Height-Based Framework. For projects with an approved RM or mixed-use residential rezoning that have not yet begun above-grade construction and wish to rezone to a new R District, City staff recommend the following process: 

• At Final Adoption of the new R District rezoning, all prior rezoning obligations (including covenants, density bonus requirements, and financial securities) would be discharged and refunded, while new covenants and servicing agreements would be registered and new securities provided; 
• If density bonus payments under the previous rezoning were deferred, any interest already invoiced remains payable, but interest collection stops after Second Reading of the new bylaw. If the new rezoning is not completed within 12 months, interest resumes; 
• Where the density bonus was already paid, only the principal amount (not interest) would be refunded at Final Adoption, once previous obligations are released; 
• At Building Permit issuance, DCCs and ACCs would be charged on all proposed units, not just net new units. Previously paid DCCs would be credited as a dollar-value offset; and 
• A new covenant registered at Final Adoption will outline the ACC/DCC payment structure and specify the DCC credit amount applied at Building Permit. 

More information can be found in the full report by City staff.