Official Community Plan

D

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12. The monetary contribution structure only applies to rezoning amendments that result in a net increase in residential units. In the case of a resulting mixed-use building with residential units, the monetary contribution structure option only applies to the portion of the building that contains the residential units. 13. Proponents of commercial or industrial rezoning applications and associated OCP amendment applications, including those uses in a mixed-use project, shall provide a specific analysis to demonstrate the land lift , of which the City will seek as a minimum negotiation target of 50% in amenities or monetary equivalent. The analysis shall be undertaken by a qualified professional such as a land economist. 14. CACs must be secured through legal agreement prior to consideration of final adoption of the Zoning Bylaw amendment or the respective final decision of Council. This may take the form of: a. A Section 219 covenant registered on the certificate of title of the property which outlines the timing and details of the community amenity to be collected or secured; b. An irrevocable, unconditional letter of credit in the form acceptable to the City, is delivered to the City for the full amount of the community amenity; or

• Street furniture or transit service facilities including passenger shelters and bus bays. 7. In cases where particular mitigation measures such as a pedestrian crossing or traffic signal would be out of scale with the development being proposed, the City may permit the applicant to make a one-time financial contribution to a City Reserve Fund for the provision of the facility or project. 8. Respective in-kind contributions should be equivalent to the respective monetary contribution targets indicated in the Tables D-3, D-4, and D-5. 9. The value calculation of the in-kind contribution must be undertaken by a qualified professional. Submission of a detailed cost estimate for proposed amenities will be required for City review as part of the application process. The cost estimate must include the design, materials, physical construction costs, and other associated costs of the amenity proposed. 10. In case a proposed development locates within a reasonable distance from the growth nodes identified in the Urban Framework Growth Concept (Figure B-1), facilities and services listed in Table D-2 may be referenced for considerations. 11. In lieu of providing a project-specific impact assessment and mitigation proposal, applicants may make contributions to the City in the amounts shown in Tables D-3, D-4, and D-5. on the basis of the maximum net increase in development potential provided by the proposed rezoning.

c. In some situations, CACs may be negotiated with the applicant and approved by Council, in a phased development agreement.

PART D Implementation