Mayor Kennedy Stewart points to “massive spike in (building) permit applications from builders and businesses,” just 26 months after declaring the city could…
On Tuesday, Vancouver mayor Kennedy Stewart said that he wanted to investigate a guaranteed permit wait time policy due to a “massive spike in permit applications from builders and businesses.”
Kennedy’s statement was made a month after the first COVID-19 death in B.C. and before the real estate market took off as the federal government engineered the economy so that interest rates became historically low.Article contentKennedy’s 2020 statement also came a week after he asked the provincial government to give the city $200 million to help manage the pandemic.
“The City of Vancouver is optimistic of its ability to fully recover from the negative economic effects of the pandemic but remains cautious if its financial planning as the pandemic continues to evolve,” the statement said. “This is reflected by increases in revenue from developer contributions, program fees and licence and development fees.”