Current Calgarians will no longer be subsidizing potential Calgarians’ infrastructure if city council agrees with a committee approval of a report which includes a massive levy on new homes.
The standing policy committee on finance and corporate services gave the green light to finding funding for new development infrastructure, which has become the biggest contributor to city debt, according to the report.
They will increase the fees paid per hectare from $140,000 to $300,000, a cost of around $8,000 per home which Michael Flynn of the Urban Development Institute says will be passed on to buyers, while developers would’ve focused on changing provincial legislation.
“It’s very difficult to get changes to the Municipal Government Act,” said Ald. Druh Farrell. “It could be a year, it could be longer, it could be never. We can’t rely on that.”
Members of the public have voiced concerns the city has created artificially low house prices in the suburbs on the taxpayers’ dime.
