Town Council received a summary of 2016 off-site levies at their July 10 meeting.
A total of $4,358,430 was collected from developers.
Off-site levies are calculated on total hectares being developed and support Town infrastructure approved in Offsite Levy Bylaw 20/2016. Developers can pay 50% at time of subdivision endorsement or when development permits are issued; the balance can be paid one year later.
Funds collected support projects such as bridges, roads, water treatment and sewage.
Off-site levies imposed in 2016 were $2,509,323 for approximately 17 hectares; $1,299,289 was collected. Collections in 2016 from levies imposed in 2015 were $3,059,141, for a total of $4,358,430.
In 2016, developers also voluntarily contributed $453,102 toward recreation and park needs in Cochrane.