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<br />20 Points To Know
<br />About Impact Fees'
<br />
<br />Impact fees are an increasingly popular
<br />new revenue source to local govemmehts.
<br />While there are a number of advantages to
<br />impact fees and related exactions, there are
<br />limitations. As communities and development
<br />groups become more sophisticated on what
<br />should be expected from a thorough impact fee
<br />study, they will become more critical and their
<br />level of expectation will increase. This article
<br />briefly notes 20 non-technical points of which
<br />',one should be aware.
<br />
<br />1.lmpactfees are viewed as afree revenue
<br />source without any constituency requirement.
<br />Impact fees may be voted in without an election,
<br />usually apply only to new development (which
<br />does not yet exist) and are perceived to exclude
<br />current taxpayers. Therefore, impact fees are
<br />a fairly painless and free revenue source
<br />since there is no obvious increase in cost to
<br />current voters.
<br />
<br />2. Impact fees pertain only to new capital
<br />facilities which directly benefit the payer.
<br />Many people still believe that impact fees can be
<br />utilized for capital facilities which benefit exist-
<br />ing residents. However, expenditures utilizing
<br />impact fees must show a direct benefit to those
<br />paying. Under some statutes, an existing facility
<br />can generate impact fees if it was oversized to
<br />serve the new development.
<br />
<br />3. The impact fees collected must be spent within
<br />a reasonable time period, A mandated or gen-
<br />eral rule-of-thumb is about six years, although
<br />(continued on next page)
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