After wrestling with Capital Expansion Fees (known as CEFs or impact fees) for nearly a year, the City Council finally made a decision. Developers will see a small increase in fees for a single-family home from a total of $12,531 in 2012 to $12,939 in 2013. The fees are mean to ensure that new development pays its own way for things such as public safety, recreation, streets, parks and other public services.
However, the Council opted to freeze the CEFs for industrial and commercial properties, which had been slated to increase sharply. As an example, staff had recommended an increase in CEFs for commercial properties from $1.15 per SF to $1.95 per SF. The Council decided that such increases would’ve made Loveland less competitive in the region and made it more difficult for struggling businesses. The final vote was 8-1 with Joan Shaffer dissenting.