SUBJECT:
Title
An Ordinance of the Board of Trustees of the Town of Erie Amending Chapter 5 of Article 2 of the Erie Municipal Code, to Modify the Town's Impact Fees
Body
DEPARTMENT: Finance and Planning
PRESENTERS: Victoria Runkle, Finance Director
Carson Bise, Principal with TischlerBise Consultants
Julian Jacquin, Economic Development Director
TIME ESTIMATE: 60 minutes
60 minutes
FISCAL SUMMARY:
The proposed fees represent a slight (1%/$134) increase in total impact fees from current levels for single family residential projects outside the Town Center, and a significant (22%/$2,059) reduction in multi-family residential impact fees for projects outside the Town Center. Further, reflecting the denser, walkable development pattern in the Town Center and the Old Town area, which reduces traffic impacts, the proposed fees also reflect a significant additional reduction (36%/$2,256 and 51%/$2,575 respectively for single family and multi-family) in Transportation impact fees for development projects in the Town Center and Old Town area.
Impact fees generate significant revenue to partially cover the cost of infrastructure improvements needed to expand infrastructure capacity to serve new developments in Erie. This revenue may only be spent on such improvements, and may not be spent for maintenance, to correct existing deficiencies or to increase existing service levels.
STAFF RECOMMENDATION:
Adopt the Impact Fee Ordinance.
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
The Town imposes fees for a variety of infrastructure needs related to impacts of growth. These one-time fees are referred to as Impact Fees. The Town of Erie has imposed Impact Fees for over 25 years to help address the effects of growth. They were first adopted in 1995 for implementation in 1996. At that time, the Town adopted Impact Fees for Parks, Public Facilities, Transportation, and Trees.
Every five years, the Town engages a consultant to review the Town's cap...
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