Financing Growth

As the City grows, new and improved infrastructure and services will be required to support the new residents and businesses that result from development. Development helps pay for the capital costs generated by growth through a combination of tools, including development cost charges and school site acquisition charges, Engineering off-site requirements (secured through Works and Services Agreements), and amenity and/or density bonus contributions.

Please note that in light of Provincial changes to development and land use legislation, the City is in the process of developing a new, comprehensive Financing Growth Strategy. This strategy is anticipated to contain a combination of Development Cost Charges (DCCs), Amenity Cost Charges (ACCs), Inclusionary Housing, and density bonus, and is expected to be released in 2025. Those with an interest in development in New Westminster should continue to monitor this page for more information.

Recently, Council endorsed the Interim Density Bonus Policy, which is intended to help the City transition from a negotiated amenity process towards fixed rates while the new Financing Growth work is progressed.