The town of Grand Falls-Windsor has adopted a new policy on land sales as part of council’s continuing effort to stimulate housing supply and promote local business development.

The town says the objective is a more streamlined, transparent and development-focused approach to land development, while reducing financial barriers to residential and commercial growth.

Under the new policy, developers who enter a subdivision agreement with the town, and who commit to the construction of at least 20 building lots within a 24-month period, will be eligible for a financial contribution toward the construction of access roads, and a contribution of up to $50,000 toward paving costs.

The town has also eliminated the 10 per cent administrative fee that was previously applied to land sales involving Crown land acquisitions facilitated by the town, and a 40 per cent cut in the price of serviced commercial land from $22.25 per square metre to $13.50 per square metre.