Mayor Robert Quaiff. (Quinte News file photo: Nicole Kleinsteuber)
Prince Edward County is looking at giving Sandbanks Homes a considerable discount in construction costs for its Wellington on the Lake subdivision.
Thursday, the committee of the whole carried a motion that would reduce the required performance security from 100 percent to 15 percent of the total development costs freeing up considerable capital for Sandbanks Homes.
Mayor Robert Quaiff says it’s a result of the continued talks with developers to encourage housing starts by easing up development charges.
Quaiff says they have a meeting with the developer committee Friday and will consider opening this option up to others as well.
