City Council - July 14, 2025 - Minutes - City of Richmond, BC

15 . PILOT PROGRAM FOR ON-DEMAND/IRREVOCABLE SURETY BONDS (File Ref. No. 12-8060-20-010685; 12-8060-20-010687; 12-8060-20-010688) (REDMS No. 8068063, 8067774, 8067760, 8067029) ( 1 ) That the pilot program outlined in the staff report titled “Pilot Program for On- Demand/Irrevocable Surety Bonds”, dated June 12, 2025, from the Director, Development and the Director, Finance, be approved; ( 2 ) That Subdivision and Development Bylaw No. 8751, Amendment Bylaw 10685, be introduced and given first, second and third readings; ( 3 ) That Development Application Fees Bylaw No. 8951, Amendment Bylaw 10687, be introduced and given first, second and third readings; ( 4 ) That Consolidation Fees Bylaw No. 8636, Amendment Bylaw 10688, be introduced and given first, second and third readings; ( 5 ) That staff review and report back in one year on the implementation of the pilot program; and ( 6 ) That On-Demand/Irrevocable Surety Bonds be approved for use, subject to the Pilot Program Criteria, in Servicing Agreements for any conditionally approved rezoning application, being those for which a zoning amendment bylaw has been given third reading, notwithstanding any executed rezoning considerations letter. ADOPTED ON CONSENT

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