A Density Bonus is an optional payment made by a developer when City Council approves additional density above the base density in a zone at the time of rezoning and when a development permit is issued. The payment reflects and recognizes that adding density to a development increases its value to the applicant and the additional residents can create a strain on community amenities.
Under new rates that take effect on February 1, 2023, developers pay a Density Bonus on all residential floor area above the base density in a zone for all high-density developments (not for townhouses or single-family homes). Whoever applies for the rezoning or the related development permit pays density bonus at the time the building permit is issued. How much additional density can be applied for, the percentage of the increase of land value and the amount of financial contribution are set out in the individual zone. Check with City development staff to determine exact figures.