Reso 2001-343 - Laserfiche WebLink

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~-, i Figure 3 provides a schedule of the maximum supportable impact fees for Sunny Isles Beach. Impact fees for residential development and transient lodging will be imposed per unit and will be collected when building permits are issued. Fees on nonresidential development will be imposed per 1,000 square feet of floor area and will also be collected when building permits are issued. The fee schedule shown below was used to estimate impact fee revenue that will likely be generated by projected development in Sunny Isles Beach over the next five years. Although nonresidential development is often irregular from year to year, TA estimates that the three types of impact fees should yield average annual revenue of approximately $199,000. The City may adopt fees that are less than the amounts shown. However, a reduction in impact fee revenue will necessitate an increase in other revenues, a decrease in planned capital expenditures and/or a decrease in the City's level of service. Nonresidential development categories are consistent with the terminology and definitions contained in the reference book, Trio Generation, published by the Institute of Transportation Engineers. These definitions can be found in the Implementation and Administration section at the back of this report. Figure 3 - Schedule of Maximum Supportable Impact Fees Residential Per Housing Unit Low Density $613 $103 $396 $1,112 Medium Density $441 $74 $285 $800 High Density $426 $71 $275 $772 Transient Lodging Per Unit Apartment Hotel $639 $308 $412 $1,359 Resort Hotel $512 $308 $330 $1,150 Nonresidential Per 1,000 Square Feet of Floor Area Com / Shop Ctr 25,000 SF or less $2,853 $549 $3,402 Com / Shop Ctr 25,001,50,000 SF $2,633 $471 $3,104 Com / Shop Ctr 50,001-100,000 SF $2,293 $412 $2,705 Com / Shop Ctr over 100,000 SF $1,975 $366 $2,341 Office / Inst 10,000 SF or less $1,313 $724 $2,037 Office / Inst 10,001-25,000 SF $1,061 $666 $1,727 Office / Inst over 25,000 SF $904 $625 $1,529 3 Tischler & Associates, Inc.