A small developer in North Bay wants city council to consider his suggestion on how to eliminate development fees. John Wallace says if council created a reserve fund containing tax revenue from newly built homes, there’s no need for development charges. Wallace says that’s because taxes from new housing easily offsets the city’s cost to prepare land for development. Wallace says his projects create about $350,000 in taxes but it cost the city only $50,000 to prepare the sites for construction.
