Richmond Developer Donates Assignment Fees to Affordable Housing

In total, Ilich is giving $46,485 to the City of Richmond and more is expected to be given to community groups, from future assignment fees.

“I feel these are fees we don’t need to be profiting from,” said Ilich.

Richmond’s affordable housing reserve is dedicated to providing subsidized housing for low-income people. This year the city increased the contributions it is to charge developers for the reserve, in order to keep up with rising land values.

“I think it’s a generous gesture. There are lots of people in our community who choose not to make contributions,” said Mayor Malcolm Brodie.

Graeme Wood - Richmond News