UDI Lower Mainland submission to the Minister of Forests.

The business community depends on certainty and predictability in government policy. Investment decisions in housing and development are based on long timelines and significant financial risk. When policy changes are introduced without meaningful consultation or a clear understanding of their economic implications, investor confidence declines, capital retreats, and the supply of new housing suffers.

Unfortunately, that is precisely the situation unfolding under the Ministry of Forests’ proposed changes to the Heritage Conservation Act (HCA).

The Urban Development Institute (UDI) is calling on the Province to further pause progress on these changes until:

• Meaningful consultation can be conducted with the development sector and other 
  key industries that are major drivers of the BC economy, along with local 
  governments; and
• Robust testing and economic analysis are completed to determine the cost, risk, 
  and time impacts of the proposed changes on housing projects – impacts that are 
  likely to be substantial at a time when the sector is already under extreme pressure.