Title
Ordinance - A Public Hearing and First and Final Reading of an Ordinance Adopting Revised Roadway Impact Fees
Requested Action
Consider the subject documents and revised impact fees.
Recommendation
Approval of the subject documents and revised impact fees.
Description/History
The proposed Land Use Assumptions and Impact Fee Capital Improvement Plan were adopted at the November 14, 2022 council meeting. The council elected to adopt the existing Roadway Impact Fees and postpone revising the fees until after the City Council Strategic Planning Workshop in February 2023. The fees were discussed at the Strategic Planning Workshop and several Council Meeting Work Sessions since.
Chapter 395 of the Local Government Code requires that impact fees be reviewed at least once every five years. The current roadway impact fee was adopted on July 27, 2015. This current update began on August 24, 2020.
The revised fees are based on the Land Use Assumptions and Capital Improvement Plans adopted at the November 14, 2022 council meeting.
A Public Hearing notice was published in the Star Telegram with circulation in Tarrant, Johnson and Ellis County as required by state law. This notice was published on May 10, 2023.
State law requires that municipalities provide an ad valorem tax credit or 50% reduction during impact fee calculations. An ad valorem tax credit has been incorporated into the maximum allowable impact fees.
In accordance with state law, developments on properties that were preliminary or final platted will not be charged the new impact fees for 12 months and will pay the current fees during this period.
Based on previous discussions and input, staff recommends the adoption of $1,303.19 per service unit ($4,900 per single-family home) for both residential and non-residential land uses. This fee is primarily based upon current construction costs of public infrastructure necessitated by a new development.
Justification
The Director of Engineerin...
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