HomeMy WebLinkAbout2017 Final Staff Recommendations for Impact and Capacity Fees.pdf2017 Impact and Capacity Fees
Staff* and Mayor Final Considerations and Recommendations from 2/21/17 meeting:
Considerations
We studied 2 new community housing developments and determined that the impact fees
range between 1.41% and 2.47% of the total project cost. After the construction cost, the land
was the second most expensive cost (averaged almost 13% of the total)
We studied 2 new BYU-I approved housing developments and determined that the impact fees
range between .59% and 1.00% of the total project cost. After the construction cost, the land
was the second most expensive cost (averaged over 14% of the total)
Rexburg Impact and Capacity Fees are below the overall average and lower than most university
cities
Another reason impact fees are so important in Rexburg is that the city property and sales tax
revenues per person are among the lowest as compared to like cities in our region
Recommendations (See new Fee Comparison Sheet)
After consideration of the Impact Fee Committee input, we recommend putting on hold any
significant increases in impact fees. We recommend reducing Impact Fee combined increases
from the original published amounts on 2/1/17
Budget for a restudy of impact fees (all 4 categories-streets, parks, police, fire) in 2018 Fiscal
Year (We are estimating a cost between $50,000 to $100,000).
We recommend an increase in only 1 of 4 categories of water capacity fees and a more
significant increase in all 4 categories of sewer capacity fees in an effort to come closer to full
cost
*Finance, Economic Development, Legal, Public Works