Victoria: The Government of British Columbia is doing its part to help TransLink address congestion in Metro Vancouver, through the Mayors’ Council’s 10-Year Vision, so people can spend less time in traffic and more time with their friends and family.
In response to a request from the Mayors’ Council on Regional Transportation, the Province has introduced legislation to give TransLink the authority to set and levy a development cost charge (DCC) on new construction in the region. The DCC authority was a priority action for the Mayors’ Council to help ensure the necessary funds are available for TransLink to deliver on its 10-year vision for transportation in MetroVancouver.
Development cost charges are one-time fees that apply to new developments to help fund growth-related infrastructure costs.
TransLink conducted significant stakeholder consultation as part of its planning work. With this funding mechanism in hand, TransLink will be better positioned to implement the vision, which includes improvements to roads and cycling, as well as pedestrian and public-transit infrastructure.
A number of accountability and transparency provisions have been built into the structure of the proposed legislation, including a requirement for TransLink to list the revenue it anticipates it will collect from DCCs for each year of the plan in its Investment Plan, and to publicly report on its DCCs as part of its annual reporting
process. These measures will ensure that rates are fair and equitable, and that rates are set and maintained openly and transparently.
The framework of this legislation is designed to ensure housing affordability in the region is not affected by the new charges, e.g., the legislation permits TransLink to provide waivers and reductions to DCC amounts for developments that provide affordable rental housing in the region.
The Government of B.C. is committed to funding 40% of the capital costs of the Mayors’ Council’s 10-Year Vision, and to helping the region raise its share of the funding through multiple new regional measures. Providing TransLink with this authority is part of delivering on that commitment.