11
UDI Annual Report 2023-2024
FEDERAL
GREATER
VANCOUVER
AND FRASER
VALLEY
In Fall 2023, in the Lower Mainland UDI
members were faced with a proposal
from the Metro Vancouver Regional
District (MVRD) to more than triple its
Development Cost Charges (DCCs)
over the next few years. In the context
of an already costly development
process - driven by government taxes
and fees, construction materials, land
and financing costs – this addition
would push proformas over the edge.
We were outraged. UDI and our
members wrote to the Regional District,
along with the Federal, Provincial, and
Municipal Governments, advocating for
a course-correction.
The Metro Vancouver Board of
Directors did eventually approve
the increases after much debate.
However, this process has brought
the issue of how infrastructure is
funded and managed to the forefront
of the discussion on housing delivery.
UDI expects this to remain an area
of debate as the Province seeks to
accelerate housing delivery, and has
called on the Province to undertake
a wholesale governance review of
the MVRD and the way regional
infrastructure is delivered. UDI will be
continuing to advocate against the
broken narrative that “growth should
pay for growth”, and instead advocate
for a more balanced approach.
In contrast to the MVRD adding costs
to development, the City of Vancouver
took a step in the right direction by
removing the Empty Homes Tax (EHT)
on development lands, and applying
the change retroactively to unsold
inventory as of the 2022 tax year.
The exemption on unsold inventory
brought the City’s EHT approach into
alignment with the Province’s own
Speculation and Vacancy Tax, which
is something UDI has long advocated
for. This change represents a positive
step taken to support delivery of
new housing supply, by addressing
some of the risks associated with
government taxation on new housing
developments. Several municipalities
have also started to make moves, as
they look to align their housing policies
with the new provincial direction under
Bills 44, 46, 47. UDI continues to work
with our municipal partners through
various Municipal Liaison Committees
to understand the implications, and
discuss the implementation, of present
and future changes resulting from
the Provincial housing legislation.
This year, UDI established new
Municipal Liaison Committees with
the City of Abbotsford, City of New
Westminster, and City of Port Moody.
To support our advocacy and policy
work, UDI meets regularly with more
than 20 municipalities across the Lower
Mainland, Okanagan, and Capital
Region to discuss key policies and
planning processes, as well as provide
feedback on behalf of the development
industry. UDI also meets regularly with
experts within the sector to discuss
a wide variety of issues that impact
development across B.C. through over
10 technical Issues Committees.
12
UDI Lower Mainland Overview