Dear Editor: It seems so simple. The taxpayers, through their municipal council, create the value-added by upzoning a particular property. So 100 per cent of this added value should be captured by the municipality.
The developer makes profits by adding value to the structure on the property.
If the municipality wants the developer to create some public amenity, then the municipality needs to pay for that amenity.
No fancy multi-factor equations. No focus on risk. No hiding the rationale for the value of the upzoning.
If councillors believe that it is in the public interest to upzone a piece of property, they should do it, take the profit and use those funds to the benefit of the taxpayers.
Robert G. Wyckham
West Vancouver
