Vancouver won’t fast-track tower building to pay for subway GlobeBC
Vancouver won’t accelerate the building of more towers along the Broadway corridor in order to generate more developer fees that could help pay for the planned major subway line, say top officials.
Mr. Coté said something the whole council has been looking at to pay for future transit improvements is some kind of land-value tax – a tax on the increased value of the properties around the line. At the moment, the first half of the Broadway extension, from Clark to Arbutus, has its funding identified. But financing the section from Arbutus to UBC is still a giant question mark, and it’s not known yet if Vancouver will insist that all of that line be underground and what the region will expect the city to pay from that bill.
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