The District of North Vancouver plans to waive the two per cent interest charges on overdue accounts.
District of North Vancouver council is expected to vote on the change that would see interest charges dropped on overdue accounts that are not related to taxes.
The decision will provide flexibility to residents and businesses amid the COVID-19 Pandemic, according to the staff report.
However, the change, if approved by council, will be only be temporary. It will be applicable from April 1 to July 31.
“This short-term financial measure will assist residents and business during this unprecedented time,” according to the report.
The interest will be waived only on trade receivables and utility charges.
Several municipalities such as Kelowna and Burnaby have also temporarily waived interest charges on their accounts.
Many others local governments in Metro Vancouver are considering temporary relief measures to aid its customers’ cash flow, according to DNV staff.
