Proposed growth fees are being slashed in half on new homes, with exemptions for several other buildings.
A news release from Mayor Brian Bowman’s office says the $18,000 fee for an 1,800-square-foot home will be reduced to half of that amount.
Infill housing and downtown will be exempt for three years while commercial, industrial and office space will be excluded for two years.
"I believe the changes recommended for (Executive Policy Committee's) consideration represent a fair and balanced path forward,” Bowman said in a news release. “I want to thank Councillor Orlikow for all the time and effort he has invested in preparing this motion, and for working openly and transparently with fellow councillors and industry representatives."
READ MORE: 'We’re listening': Bowman on lowering proposed growth fees
The changes come after consultations with various stakeholders, including property developers.
"I have spent a significant amount of time listening and speaking with over 40 different stakeholders about impact fees," Coun. John Orlikow, chair of the city’s property and development committee, said in the release.
"I believe a phased-in, structured approach to implementing an impact fee together with active, collaborative and constructive industry input throughout the phase-in period is the best approach."
The bylaw will come into effect on Nov. 1 but fees will not be collected for six months.
