City of Coquitlam to Expand CAC Program
The City of Coquitlam is likely to approve an expansion to their Community Amenity Contribution (CAC) program, as a result of several findings by City planning staff since late 2015 when they began exploring the idea of a policy regarding city-wide CACs.
Discussion topics from City staff included:
- Impact on Housing Affordability – it was determined based on previous studies that a new Citywide CAC would not have significant impact on housing affordability
- In-kind Contributions – this will be the standard approach at council’s discretion
- Citywide CAC versus Area-specific CACs – City doesn’t want to have different target rates in different areas thereby creating an uneven playing field for development. CACs are intended to be used in each area.
The new fixed target CAC rates will be as follows:
- $3.00 per SF for the gross floor area of all new multifamily;
- $5,500 per parcel for all new one-family residential lots over 375 m2;
- $4,800 per parcel for all new one-family residential lots under 375 m2.
The new CAC program is set to take effect July 1, 2016, though project applications already in process will be exempt.