Port Moody receives municipal excellence award for lowering commercial development costs
Port Moody has earned a NAIOP Award for Municipal Excellence (NAME) for cutting costs and processing times associated with commercial development. In 2012, the City recorded an 18% drop over 2010.
In receiving the award for ‘Most Improved’, Mayor Mike Clay says “We want to encourage development in Port Moody, and a huge step in that direction is streamlining our process. We’re continually improving how we do business so that we can save developers both time and money.”
The NAME Award results from an annual survey which is distributed to 21 lower mainland municipalities. The survey requires each municipality to identify the costs and processing times associated with the parameters of a particular case study. For 2012, the development project was the construction of a two-storey, 50,000 square foot office building on 2.5 acres of land. The development scenario required both subdivision and rezoning.
Port Moody shares the spotlight for this award with the City of Surrey which recorded a 19% drop in costs over previous survey results.