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B.C. Reg. 114/2018
M231/2018
Deposited June 14, 2018
This consolidation is current to April 16, 2024.
Link to consolidated regulation (PDF)

South Coast British Columbia Transportation Authority Act

Development Cost Charge Regulation

Definitions

1   In this regulation:

"Act" means the South Coast British Columbia Transportation Authority Act;

"developer" means a person on whom a development cost charge is imposed;

"development cost charge amendment bylaw" means a bylaw that changes the amount of a development cost charge specified in a development cost charge bylaw.

Exemption — approval of development cost charge bylaws

2   (1) Subject to subsections (2) and (3), a development cost charge amendment bylaw is exempt from the approval requirement in section 34.22 of the Act if

(a) the bylaw changes the amount of one or more development cost charges once in a 12 month period after the date of the adoption of the bylaw, and

(b) the change in the amount of the development cost charge does not exceed the percentage change in the annual average Consumer Price Index for Vancouver, as published by Statistics Canada under the authority of the Statistics Act (Canada), for the calendar year before the date of the bylaw change referred to in paragraph (a) of this subsection.

(2) The authority may make use of an exemption under subsection (1) once each year for up to 4 years from

(a) the date of the adoption of a development cost charge bylaw approved by the inspector, or

(b) the date of the adoption of a bylaw approved by the inspector that amends a development cost charge bylaw.

(3) A copy of a development cost charge amendment bylaw under subsection (1) must be filed as soon as is reasonable with the inspector after the bylaw has been adopted.

Payment may be in instalments

3   A developer liable to pay a development cost charge may elect to pay it in instalments, subject to the conditions set out in sections 4 to 8.

Exception

4   Section 3 does not apply if the development cost charge is under $50 000 unless the authority has, in the development cost charge bylaw, authorized that all development cost charges under $50 000 imposed may be paid in instalments in accordance with this regulation.

Payment of charge in full

5   A developer must pay the development cost charge in full within 2 years after the date that the developer obtains a building permit or approval of a subdivision by paying not less than

(a) 1/3 of the total development cost charge at the time of obtaining the building permit or approval of the subdivision, and

(b) 1/2 of the balance within one year after the date of obtaining the building permit or approval of the subdivision.

Failure to pay instalment

6   If a developer elects to pay a development cost charge in instalments and fails to pay an instalment within any time required for payment by section 5, the total balance of the development cost charge becomes due and payable immediately.

Interest

7   If a developer elects to pay a development cost charge in instalments, no interest is payable on the unpaid balance of that development cost charge until the unpaid balance becomes due and payable, but when it does, interest is payable from that date until payment at the rate or rates prescribed under section 11 (3) of the Taxation (Rural Area) Act for the period of non-payment.

Surety for payment in instalments

8   A developer who elects to pay a development cost charge in instalments must deposit with the authority, at the same time as the developer pays the first instalment,

(a) an irrevocable letter of credit or undertaking from a bank, or a credit union or trust company that has a business authorization issued under the Financial Institutions Act,

(b) a bond of an insurer that has a business authorization issued under the Financial Institutions Act, or

(c) a security duly assigned

that ensures to the satisfaction of the authority that upon default the balance of the unpaid development cost charge will be recoverable from the person, the bank, the credit union, the trust company or the insurer or from the proceeds of the realization of the security, as the case may be.

[Provisions relevant to the enactment of this regulation: South Coast British Columbia Transportation Authority Act, S.B.C. 1998, c. 30, ss. 34.21 and 34.22]