Nanaimo moves forward with reducing DCCs for not-for-profit rentals
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City of Nanaimo council is proceeding with reducing development cost charges by 50-per cent for not-for-profit rental and supportive housing.
The deferred motion was discussed by council during a meeting on Monday, April 13, after council failed to get a majority on a 75-per cent reduction. According to a staff presentation, 50-per cent represents an estimated DCC ongoing loss of about $542,000 a year, while 75 per cent would be a loss of about $812,500.
DCCs are a fee collected by the municipal
The deferred motion was discussed by council during a meeting on Monday, April 13, after council failed to get a majority on a 75-per cent reduction. According to a staff presentation, 50-per cent represents an estimated DCC ongoing loss of about $542,000 a year, while 75 per cent would be a loss of about $812,500.
DCCs are a fee collected by the municipal
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