There will be new communities on Calgary’s periphery following a strong vote in favour by city officials.
The council voted 12 to 2 in favour of 14 new greenfield developments at a meeting Monday, which followed a lengthy debate according to a report in the Calgary Herald.
Developers will bear most of the costs involved in the new communities but taxpayers will pay a price with tens of millions to cover capital costs and to cover temporary operating shortfalls.
The article says that Calgary residents could face an increase of 0.75% in their property taxes over the next four years to cover the costs of the approved developments.
All four quadrants of Calgary will gain new communities but the north of the city will see the largest share.
It’s hoped that the new developments will address issues such as boosting under-supplied housing types and providing homes that are affordable across income bands.
