Delta has been recognized as the most fiscally responsible city in the region, according to the Commercial Real Estate Development Association (NAIOP).
Mayor George Harvie accepted the awards for Most Fiscally Responsible and Most Improved — Fees at NAIOP’s Municipal Excellence Awards breakfast in Vancouver on Nov. 26.
According to the NAIOP’s 20th Annual Regional Industrial Cost of Business Survey, the City of Delta has reduced the fees it charges for commercial real estate development in the city by 25.2 per cent since 2017. As well, Delta has maintained an average inflation rate of -1.6 per cent for development fees since 2001, lowering their costs by 1.6 per cent annually for the last 18 years.
Inflation of development fees in other cities run the gamut, from -0.4 per cent in Surrey to 4.2 per cent in Maple Ridge, according to the survey, with an average increase of 0.7 per cent annually over the last 18 years. Delta is one of only three municipalities that have lowered costs since 2001, while the remaining 14 have raised them incrementally.
“We want to continue to reduce red tape and we currently have an active task force and changes are now underway to speed up the development process, reduce costs and wait times, improve communications, and streamline development and approvals,” Harvie said in a press release. “Receiving recognition for our efforts from NAIOP is gratifying and we look forward to implementing further changes to continue creating a great environment for investment.”