BANFF – Building and development permit revenue was up significantly last year with development activity in the tourist town at a 20-year high.
Banff’s 2017 financial statements were recently presented to council, showing building permit revenue was $218,000 higher than anticipated, for a total of $418,265, and development permit revenue was up $37,000, pushing the total to $87,300.
“That’s due to higher than average development activity during the year,” said Chris Hughes, the Town of Banff’s finance manager.
In 2017, the planning and development department approved 107 development permit applications, the most since 1997 when 103 development permits were issued.
Last year was also a banner year for building permit applications, the most since 2001 – 85 versus 87.
All the development led to an estimated construction value of $69.1 million, the highest value of construction since the town’s incorporation in 1990. The average building permit construction value was $813,000, compared to $481,000 in 2016 and $149,000 the year before that.
Hughes said developers’ levies were up $42,000 due to higher than anticipated offsite levies collected during the year, for total revenue of $101,700.
“Those levies get transferred to the offsite levy reserve for capital purposes,” he said.
Also in the planning and development department budget, legal fees were up $107,000. The actual budgeted amount for 2017 was $9,000.
“Legal fees in the end were $107,000 over budget largely due to the Homestead Inn development appeal,” said Hughes.
Businessman, conservationist and now town councillor Peter Poole launched legal action over approval of the Homestead, essentially arguing the development violated the national park townsite’s population cap. He lost his legal battles on that front.
Costs to the municipality include third party legal support to the development appeal board, the Town’s lawyers at the DAB stage, and as costs associated with the Court of Appeal legal action.
