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Date Printed: 2012-04-02 Page 1 of 1 Policy 5.14 DISTRICT OF MAPLE RIDGE TITLE: DEVELOPMENT COST CHARGES -INSTAL INSTALLMENT PAYMENT MENT DUE DATES POLICY NO. 5.14 APPROVAL DATE: July
19, 1993 POLICY STATEMENT: That the following three equal installment plans apply to developers who elect to pay development cost charges in excess of $50,000 by installments: a) 1/3
of the total charges at the time approval of the subdivision or granting of the permit; b) 1/3 of the total charges within one year after the date of approval of the subdivision or
granting of the permit, and c) 1/3 of the total charges within two years after the date of approval of the subdivision or granting of the permit. When the developer elects to pay a
charge by installment and fails to pay an installment within the time requirements outlined above, the total balance of the charges become due and payable immediately. PURPOSE PURPOSE:
To establish the schedule of installment payments for Development Cost Charges where the developer has elected to pay by installments. This policy is consistent with the Ministry of
Municipal Affairs regulation dated June 4, 1984. DEFINITIONS: