Slowed Growth Affecting Offsite Levy; Growth Principles as Interim Tool
LETHBRIDGE – City Council learned about the current state of Lethbridge’s Offsite Levy and community growth decisions.
In simpler terms, the levy provides funding to land developers for infrastructure (like water, sanitary and storm lines) for future growth in serviced lots. Without the levy, developers wouldn’t be able to start new neighborhoods or extend services because they can’t afford the upfront cost.
Since growth has been slower than projected in 2012, the city is currently seeing a deficit in the account balance of approximately $11.5-million. This means the city will have to look at ways to increase revenues.
Urban Construction Manager, Byron Buzunis, explains that growth isn’t where they expected it to be, and it’s taking a toll.