The Prince Edward County council met last night and decided to reduce the development charges by 50% in both the rural and urban areas of the county. At present the development charges for a newly built three bedroom home are a little over $18,000, and this will be reduced to approximately $12,000.
Initially the plan was to only offer this reduction in the urban high service areas, but it was decided to extend the break to the entire county. There has always been a bit of a difference of opinion in the county as residents try to balance economic growth with the preservation of the county's more bucolic nature. It's a fine balance and sometimes issues can be a little contentious, as is the case with the development of wind turbines. One day I will pluck up the courage to write about that very interesting topic and I know I will risk alienating half the population by writing about it. Oh well.
Offering this development charge break in the rural part of the county might end up being pretty costly in the long run though, as increased development in more isolated places might put a strain on maintenance costs for the entire county. Most people moving to Prince Edward County do so because of the beautiful landscape and vistas though, so this might be a necessary short term solution to try to revive a rather stagnant market. I suppose it can always be changed at a later date. In the meantime developers might want to have another look at the county and see if this price break will make a difference.