Rezoning at meeting NOV.6You can read the details of the rezoning at the City of Mission.
This is going to dense. Polygon is suggesting single detached be on tight lots, 10 m and 11m.
to increase affordability. Something that both the city and the consumer will likley support.
Re servicing financing.
The City has been in discussion with Polygon to enter into a front-ender agreement. With this type of agreement, the developer agrees to construct the necessary infrastructure to allow their development to proceed and the City will repay the developer’s cost with Development Cost Charges (DCCs) collected in the future. Polygon will still be required to pay DCCs for their particular projects as they progress and these DCCs will be part of the calculation used to determine the amount to repay Polygon as per the front-ender agreement. It should be noted that a front-ender agreement is different from a DCC credit. A DCC credit arrangement has a developer construct a specific project already included in the DCC bylaw in exchange for waiving the DCC levy for that type of infrastructure (roads, water, etc.) up to the amount of the works completed. The credit cannot exceed the amount of the DCC payable regardless of the cost of the infrastructure. As opposed to a front-ender agreement, there is no provision to repay the developer with future revenue collected. A front-ender agreement will have an end date. Once the front-ender agreement expires, the City will have no further obligation to repay the developer even if all of the funds originally expended have not been repaid. The proposed front-ender agreement would need to be considered by Council at a future date.