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By Nord Blanc (anonymous) | Posted June 20, 2011 at 08:32:05
Thistle Club/City Square, May 6 2009:
The city uses parkland fees to help pay for new parks. Even after the 2 1/2-year stimulus period, developers will pay less than the current cost for parkland on townhouses and high-density projects.
Planning staff recently recommended a permanent fee reduction that will save developers from $1,000 to $4,500 per unit.
The interim stimulus initiative, which is expected to be passed by council next week, will be even cheaper, charging only 5 per cent of the land value for large developments.
http://www.thespec.com/news/local/article/83797--city-gives-developers-break-on-parkland-fees
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