URBANICS
Urbanics Consultants Ltd. was retained to advise a developer of a 0.8 acre property in community amenity contribution (CAC) negotiations with the City of White Rock. The subject property was designated for four-storey residential development, subject to the payment of a CAC. The property fell outside the area of the municipality where CACs are set at a fixed rate, necessitating a negotiation process, with minimal policy guidance. Urbanics carefully studied municipal documentation for all applicable approved or in-stream development applications, developing an index of precedent successful and unsuccessful CAC offers. Urbanics calculated the residual land value that would result from rezoning, and associated land lift on which the CAC would apply. Finally, Urbanics recommended a specific amount for Vanhome to offer in CAC negotiations based on successful precedent cases and a fair assessment of the project’s finances.
In addition to completing the initial study, Urbanics has been retained to directly participate during negotiations with the City of White Rock.