The City Council has been discussing a new methodology for calculating capital expansion (or impact) fees for new development for five years. Last week staff presented Council with a resolution adopting the new plans based fees but after a long conversation, Council opted to postpone the decision until September.
The CEFs under consideration included fire, law enforcement, general government, library, cultural (museum), parks, recreation, trails and open space. Streets, water, sewer and electric CEFs were not included in the discussion. As recommended by staff the new fees would reduce the cost of building a single-family residence by $412, bringing the CEFs to $10,353 per home. The CEFs for multi-family projects would also go down $200 to $7,282 per unit. While a majority of the six Council members present liked the idea of reducing residential CEFs, they were not comfortable with adopting the proposed increases for commercial and industrial developments.
IRES MLS: Come Home to Colorado 