Development charges are fees developers pay so that infrastructure is paid for by the new development and not the rest of taxpayers in the community.
At the July 12th council meeting, it was suggested that developers be allowed to contribute a percentage of the levy to an attainable housing reserve fund, should it be established.
Mayor Luke Charbonneau says such a provision would allow a builder to allocate up to 5% of the required development charge to the Reserve to an annual limit of $200,000.
This options allows builders and the town to contribute cooperatively to the construction of attainable housing.
Charbonneau thinks it will work because developers can put the money into the reserve and should they build attainable housing in the future, they can get the money back to help finance the project.
A final bylaw on the matter will be brought before council on July 19th.
