When did you last review your municipality's impact fee ordinance? Does it reflect the 2006 and 2008 changes to the State Statute? What about your needs assessment study? Does it include the capital items your municipality is going to need to serve its future residents?
At Crispell-Snyder we typically recommend that our clients review their needs assessment study and impact fees every five years. The needs of the community change, population growth fluctuates, and costs of new facilities increase. An up-to-date needs assessment study means that your impact fees will best meet the needs of your community.
It's vitally important that your impact fee ordinance meets the requirements of the State Statute; items such as vehicles and equipment can no longer be included in impact fee calculations. Recent changes to the statute also revised the time period in which collected fees must be spent, when they are to be collected, and who pays them.
Be prepared for the economy's recovery. Act now to make sure your impact fees are up-to-date and help ensure that your community has the funds it will need for new public facilities. |
