Quote:
Originally Posted by LeftCoaster
Why would a developer pay CACs to support infrastructure for new residents when the residents are not in yet and they don't have project financing. It makes no sense and will only discourage new housing development.
Common sense says that CACs should be due on the commencement of construction as by then project financing is in place and the municipality can begin work on the new amenities and be complete in a similar timeframe as the new units.
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Is this not the same rule every other developer plays by?
Maybe Anthem should be forced to just abandon their planned luxury condos for offshore buyers and convert this to a residential rental project as others have done with their sites. They shouldn't be getting deferrals and special treatment so they can peddle goods that no longer have a market.
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