It is important that you talk to professionals about creating a budget for your Housing Choices project. There may be other costs associated with your development that are not outlined here, and you will need to ensure you have created an appropriate project budget.
Aside from the hiring of professionals required to complete your application(s), and the construction crews required to work on the development, here are some (but not all) of the items that have financial implications. These fees, charges, and securities are required at different times during your development process and City staff will be able to let you know when these would be payable, and which would be applicable to your project.
All new developments contribute to upgrading adjacent streetscapes to a modern urban standard, including curbs, gutters, sidewalks, lighting, landscaping and rear lane improvements. These upgraded street works are called “Frontage Works”. You will be required to either pay into the Frontage Works Program (staff will confirm if you’re eligible through the application process) or construct the Frontage Works as part of your project. Your Civil Engineer can provide you with a cost estimate for these works. The Engineering & Public Works Fees and Charges listing in Schedule F of the Fees and Charges Bylaw (PDF) can be helpful to estimate the costs. Costs may be associated with the following:
“Capping”, or sealing off, old services (storm sewer, water, sanitary sewer, electrical, gas);
Upgrading services to newer or larger sized equipment;
Extending new services to your property; and
Refundable securities will need to be provided to the City to complete specific works. Some of these securities may include:
A Development Permit security, at 2.5% of the estimated cost of construction;
A Frontage Works security for works and services (if you are participating in the Frontage Works Program), at 110% of the estimate provided by your Engineering consultant; and
An Engineering & Public Works security for damage deposits.
These deposits are refunded once City staff are satisfied that the work has been completed and maintained after a set period of time.
City Development Cost Charges (DCCs)
Before a Building Permit is issued, City Development Cost Charge (DCC) payments are due. DCCs help pay for transportation, water, sewer, drainage, park acquisition and some park development projects which are needed to serve the community due to growth.
Other Agencies’ Development Cost Charges
In addition to the City’s DCCs, other agencies have development charges that we collect on their behalf at the time of issuing a Building Permit. These charges are subject to change and may increase during the time you are in application with the City. Check with Development Planning to confirm the rates which would be in effect.
Links to information on these various charges are listed below can be found at the City’s Fees and Charges page:
Greater Vancouver Sewerage and Drainage District Development Cost Charge (Coquitlam is in the Fraser Sewerage Area);
Greater Vancouver Water District Development Cost Charge;