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LETTER: No need to bankroll developers


I’m responding to Mark Harris’s letter responding in turn to Sasha Izard’s letter of a week or so prior.

Mr. Harris sets out what he takes to be the costs that developers incur in new construction, and he argues that those costs justify developers being given a break on the public amenities contribution.

What he does not account for is developer profits, the return to investors. I say the amenities contribution should not have been reduced. If a developer can’t make a profit in the present market, then that developer should be allowed to fail.

Saanich should not be bankrolling private developers.

In any event, private developers don’t build low-cost housing. That’s the role of government.

Jerry Donaldson