News & Knowledge

Lake Commissioners Considering 500-Percent Hike to Road impact Fee

Lake Commissioners Considering 500-Percent Hike to Road impact Fee
by lowndes

May 31, 2018

By: Laura Kinsler

GrowthSpotter

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The latest GrowthSpotter article highlights that on June 5th, a vote for an increase in transportation impact fees will take place. The increase could more than quintuple transportation impact fees. Fred Schneider, a county engineer, believes that the county budget has already been maxed out to pay for road maintenance. Land use attorney, Tara Tedrow with Lowndes, Drosdick, Doster, Kantor & Reed, said that elimination of the pre-payment option could dramatically change the proformas for developers who have projects in the pipeline. “If financing has been in place for projects based on projected rates under the old structure, set backs will happen for developers,” she said. “The more expensive it is to do business with the jurisdiction, the more difficult it becomes to attract developments of all sizes.”

To read the article in full, click on this GrowthSpotter link here.