A City of Vancouver report going to Council next week seeks approval for the annual inflationary rate adjustment to DCL’s and CAC’s.
The target DCL and CAC rates are adjusted annually to keep pace with changes in property values and construction costs.
The proposed adjustment for 2021 is a decrease of 0.8%; the first decrease since the annual inflationary index was developed by the City in 2011.
Here are the new proposed rates:
The new target rates will become effective September 2020.
The report also recommends proceeding with the final phase-in of the Vancouver Utilities DCL rate for high-density residential development on
the east side that was approved by Council in July 2018, and the adjustments of the Little Mountain and Southeast False Creek CAC Targets that were approved by Council with the updated CAC Policy in January 2020.
The new target rates for these areas are as follows:
Little Mountain Adjacent: The Little Mountain Adjacent CAC Target will be increased from its current level of $29.88 per sq.ft. to $47.00 per sq.ft.
Southeast False Creek: The CAC Target in Southeast False Creek (SEFC) will be increased from its current level of $16.78 per sq.ft. to $67.00 per sq.ft.
