Vernon council one step closer to reducing development costs

Slashing development costs

The cost of doing business in Vernon may be little easier on the wallet in the near future. At their meeting on Monday, council had a third reading of a bylaw that would lower development cost charges (DCCs) in the area.

"Not many communities talk about reducing DCCs," said Mayor Victor Cumming. "It's a very significant thing."

DCCs are a one-time fee imposed to a development so the city has money for drainage, road facilities, constructing and altering or expanding sewage.

Under the new proposal, the total for a single-family lot in the city for districts one and two would be changed from $16,429 to $13,766, which is a 16.2 per cent reduction. Developments in district three would be altered from $21,182 to $20,692, a 2.3 per cent decrease.

Final adoption of the bylaw is still required by council before it is approved.

- With files from the Greater Vernon Chamber

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