After sitting unchanged since 2004, the City of Cranbrook will have an updated development cost charge (DCC) bylaw.
DCCs are fees paid to the city by developers when new construction begins.
The review updated and determined how much should be covered by the developer and how much should be paid by taxpayers.
“The DCCs are implemented to help pay for the added strain and whatnot on the existing infrastructure and to cover being tied into it,” said Mayor Lee Pratt.
Mayor Pratt said the fee structure will be ramped up over time.
“It’ll start this year, and then there will be an increase in the DCC, so there will be an increase over the next three years,” said Pratt.
The rates will have a 40 per cent assist factor in the first year, 20 per cent in the second and one per cent in the third year. That one per cent assist factor will persist into the future.
City staff said the updated DCC bylaw will provide updated costs to current projects required due to growth.
Pratt said the change was necessary after being unchanged for so long.
“The developers are not happy with the increase, but they know that we’re in the middle of the pack in comparison to other communities,” said Pratt.