The cost to build in Port Moody is going up.
At its meeting on Nov. 26, council approved a 4.3 per cent increase to the city’s development cost charges (DCC) that help pay for upgrades to municipal infrastructure like roads, parks and sanitary sewer lines required to accommodate growth.
It’s the first time the fee has gone up since 2019.
Kim Law, Port Moody’s manager of project delivery services, said shifting priorities during the COVID-19 pandemic followed by uncertainty caused by the introduction of new provincial housing legislation prevented earlier boosts to the fee so it could keep pace with inflation annually.
The charge doesn’t just impact large development projects.
A homeowner adding a laneway home to their property will pay $10,732.65 in DCC while the charge for construction of a single-family detached home or duplex goes up to $34,892 per dwelling unit.
In Coquitlam, which last updated its DCC in 2023, the fee for a detached single-family home is $63,141, while in Port Coquitlam, it's $15,762
Larger-scale multi-residential developments, as well as commercial, institutional and industrial projects are charged a fee per square metre.
Development applications that are already in the approval process won’t be subject to the increased rate provided they achieve final approval within the next year.
According to a staff report, DCC charges are payable when a building permit is issued.
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