On April 8th, Council received a report for information outlining correspondence submitted by the City to the Province recommending amendments to legislated Development Finance tools. A copy of the report will also be forwarded to all Metro Vancouver member municipalities requesting that they submit similar requests directly to the Province. The letter outlines several measures to mitigate the impacts of development cost increases. 

The suggestions include: 

• Phasing in of ACC and DCC rates – Permit rates to be phased in over several years without requiring an increase to the Municipal Assist Factor (MAF), and that, as a result, the horizon date be extended beyond the 25 years to account for the pro-rated collection of ACCs and DCCs; 
• Pause ACC and DCC Collection – Permit local governments to pause the collection of DCCs or ACCs at any point in the 25-year horizon, without the need to compensate with an increased MAF; 
• Extension to In-stream Protection and Precursor Applications – Extend the in-stream protection provision from 12 months to 24 months and permit precursor applications to be acknowledged as in-stream up to 12 months after the ACC and DCC bylaw has been adopted; and 
• Greater Flexibility in the use of Density Bonus – Greater flexibility be offered to local governments on how they fund necessary amenities, by removing the determination that payment in lieu, is at the discretion of the developer rather than at the discretion of the local government. Furthermore, it is proposed that the payment-in-lieu of amenities be authorized for use towards the existing community benefit factor, with the ACC revenue continuing to fund the growth-related benefit factor. 

More information can be found in the letter to the Province or the full report by City staff.