At a Special Meeting of Council held on January 21, 2008, Fernie Council gave direction to staff to proceed with a Bylaw to implement the necessary Development Cost Charges needed to finance the Capital Plan.
The proposed rates as outlined below were presented to Council:
| Land Use Category |
Existing DCCs |
Proposed DDCs |
Proposed Increase |
% Increase |
| Low Density Res. |
$7,329.21/unit |
$9,368.94/unit |
$2,039.73/unit |
27.83% |
| Med. Density Res. |
$5,477.78/unit |
$7,008.19/unit |
$1,530.41/unit |
27.94% |
| High Density Res. |
$4,209.62/unit |
$5,431.73/unit |
$1,222.12/unit |
29.03% |
| Commercial |
$58.93/sq m |
$94.60/sq m |
$35.67/sq m |
60.53% |
| Industrial |
$37.83/sq m |
$57.63/sq m |
$19.80/sq m |
52.34% |
Other budget-related items were discussed, including the potential of packaging all of the borrowing identified as necessary to fund the 2008 – 2012 Capital Plan and going to referendum in 2008 to receive elector approval for the total amount.
Meeting minutes are available at: http://fernie.ihostez.com/contentengine/documentframe.asp?ID=1145
