On Jan. 26 The City Council directed staff to draft an ordinance revising two impact fees for new development — the Public Building Investment Fee and Transportation Community Investment Fee — as recommended by City consultants. These fees hadn’t been reviewed in a while so the study was necessary to comply with State law.
The proposed Public Building Investment Fee will be much lower for all types of development – residential, commercial, office and institutional. As an example, the current fee for residential units, depending on size, is $1,056 to $1,121. As proposed, it will range between $54 to $137. This would save a developer $1,016 on a 2,400 SF home.
However, the Transportation Community Investment Fee will be higher. For example, the current fee for a single-family home is between $448 – $901, depending on the size of the home. The proposed fee would range from $925 – $2,000. A developer currently pays a $1,137 transportation fee on a 2,400 SF home while under the new fee guidelines he would pay $1,585. While new development will not create the need for expanded public buildings, it will impact the City’s transportation infrastructure as Longmont’s population grows, and this is the rationale for the changes to these fees.
The Council also asked the Parks and Recreation Board to review the proposal for a new recreation impact fee. As proposed the fee would vary from $554 to $1,391 per residential unit depending on size. The fee for a 2,400 SF home would be $1,067. The fee would apply only to residential development and would be used to expand the existing Rec Center and fund the proposed aquatics rec center.