Editor:
Re: City to expropriate site for ‘Town Square,’ April 11.
You quote the mayor saying that “no money from taxes will be put in there.”
“The costs will be covered by DCCs (development cost charges), land-sale revenues and CACs (community amenity contributions) paid by developers.”
A translation to plain English for members of the public that are not familiar with the spin put on real-estate jargon by politicians lacking the integrity to call a spade a spade:
DCCs and CACs are taxes on new housing that are paid directly by homebuyers.
Approximately 70 per cent of buyers in the South Surrey-White Rock area are first-time buyers.
Donald G. MacKay, White Rock