In 2012, Council endorsed the City’s CAC practice of collecting $1,000 per residential unit and $34/m2 of commercial and industrial floor area, and these rates are still being used for CAC negotiations with applicants for rezoning proposals and covenant amendments involving a change in land use or density. Market realities have changed significantly since this practice started, thus Council directed Staff to review the CAC rates for rezoning and covenant amendment applications where additional development rights are requested.
From 2010 to 2020, the City collected $1,858,946 in CAC funds, which has allowed for significant amenity benefits throughout the city. The allocation of these funds, as negotiated through application reviews, has resulted in 66% of all monetary contributions being directed to parks and infrastructure, 30% to the Housing Legacy Reserve Fund, and 4% to other City initiatives. CAC funds have been used for improvements within many parks, including Neck Point Park, McGirr Sports Complex, Monashee Park, Harewood Centennial Youth Park, Westwood Lake Park, Fern Road Park, Noye Park, Harewood Skate Park, and Linley Valley Park.