The cost of development will be rising slightly in the new year.
On Dec. 19, councillors here agreed to an annual adjustment of 1.8 per cent to its development charges for both residential and non-residental projects. The development charges bylaw allows the charges to be changed annually.
As a result, the following charges would apply on Jan. 1, 2013.
Residential development: $3,813.23/dwelling unit x 1.8% = $3,881.87/dwelling unit.
Non-residential development: $1.93/square foot x 1.8% = $1.96/square foot.
If council wishes to adjust the development charges, then this is done through a resolution. Mayor Dennis Lever suggested the increase is relatively small this time around.
Council passed a motion for the increases to be in effect as of Jan. 1, 2013.
