Land speculation can contribute to rising land costs, impact housing and job space affordability, and hurt our ability to achieve affordable rental housing and provide public benefits to serve the needs of a growing population.
To limit land speculation, Council approved a policy measure on June 20, 2018, that established interim development contribution expectations prior to community planning. The interim rate expectations (dollars per square foot) set will remain in place until the planning program is complete.
Anticipated contributions are determined by economic testing, based on the anticipated market value within the community planning area where additional density is being sought.
This measure will help ensure that land owners, realtors, and developers are aware of our intention to achieve affordable housing and community benefits as part of the community plan for the area.
Development Contribution Expectations (DCE) Policy
The DCE Policy is intended to add clarity to land acquisition decisions, allowing purchasers to factor in the potential costs of providing required amenities when rezoning or density bonusing occurs. It is not intended to convey any certainty about heights, densities, and type of uses that will be permitted when the plan is complete.
After the planning process is complete, the DCE Policy will be replaced through development contribution tools (example: CACs, Density Bonusing) to reflect actual densities, mix of uses, and amenity needs and costs in the plan.