The British Columbia government is loosening the rules for payment of development fees in a bid to jump start home construction that has bee
The British Columbia government is loosening the rules for payment of development fees in a bid to jump start home construction that has been hampered by upfront costs. Housing Minister Ravi Kahlon says among the biggest changes will be more flexible and extended payment timelines for homebuilders, so instead of paying development fees up front, they will pay 25 per cent at permit approval and 75 per cent when the building is occupied. Developers will also have four years, rather than two, to pay the charges, in rule changes that Kahlon says are needed because the current market conditions have stalled projects in the province.
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