Impact Fees Challenge (out-of-order) Flashcards
What kind of data must impact fee be created with?
Best and most recent localized data.
FINANCE - M/C ----------- Impact fees can be used by LGs for: (a) renewal and replacement of existing facilities only (b) expansion facilities only (c) any public purpose (d) none of the above
FINANCE - M/C ----------- B ----------- not A. New construction only. Think in terms of growth.
IMPACT FEE ----------- New 2021 - ----------- How must impact fees be credited?
IMPACT FEE ----------- New 2021 - ----------- Dollar-for-dollar impact fee credits for impacts on the same public facilities in exchange for other required contributions received (i.e., proportionate share agreement or other exactions).
IMPACT FEE ----------- New 2021 - ----------- If LG wants to increase its impact fees earlier than 4 year interval, what must it do?
IMPACT FEE New 2021 - ----------- Every 4 years my SEWing Increases by 2/3 2 wksh ----- 2/3 vote ----- 4 yr incr 2 instl--------------------------- 4 install 1-25%----------------------------26-50% Increase only every 4 yrs UNLESS a) Demonstrated-need study justifies; b) Extraordinary circumstances; c) 2 publicly noticed workshops, & d) Adopts by 2/3 vote.
IMPACT FEE ----------- New 2021 - ----------- If LG wants to increase impact fee 26-50%, how many installments are required?
IMPACT FEE ----------- New 2021 - ----------- 4.
IMPACT FEE ----------- New 2021 - ----------- For which types of contributions must LG & special districts credit toward impact fees?
IMPACT FEE ----------- New 2021 - ----------- Contributions made by way of exaction, related to public facilities or infrastructure.
IMPACT FEE ----------- New 2021 - ----------- If LG wants to increase impact fee 51%+, how many installments are required?
IMPACT FEE ----------- New 2021 - ----------- 0. Can't do it.
How much notice must LG give before imposing new or increased impact fee?
90 days.
IMPACT FEE ----------- New 2021 - ----------- If LG wants to increase impact fee 0-25%, how many installments are required?
IMPACT FEE ----------- New 2021 - ----------- 2.
IMPACT FEE ----------- New 2021 - ----------- How calculate the amount of credit to be applied to an impact fee from developer's contribution?
IMPACT FEE ----------- New 2021 - ----------- Dollar for dollar at FMV.
IMPACT FEE ----------- New 2021 - ----------- For which types of contributions must LG & special districts credit toward impact fees?
New 2021 -
———–
[Exactions contribute to facilities & infrast.]
———–
Contributions made by way of exaction, related to public facilities or infrastructure.
How much profit can LG make in charging for it administration costs, re: impact fees?
None. Admin charge = actual costs.
IMPACT FEE ----------- New 2021 - ----------- If LG wants to increase impact fee 0-25%, how many installments are required?
IMPACT FEE ----------- New 2021 - ----------- 2.
IMPACT FEE ----------- New 2021 - ----------- What if LG doesn't charge and collect an impact fee for the general category of class of public facilities or infrastructure contributed?
IMPACT FEE ----------- New 2021 - ----------- A credit may not be applied.
IMPACT FEE ----------- New 2021 - ----------- What is included as a type of contribution that might be made, re: public facilities or infrastructure?
IMPACT FEE ----------- New 2021 - ----------- Land dedication, site planning & design or construction.
IMPACT FEE ----------- New 2021 - ----------- What's the purpose of the new crediting restrictions?
IMPACT FEE ----------- New 2021 - ----------- To reduce the impact fee collected for the general categories of contributed: (1) Public facilities or (2) Infrastructure.
IMPACT FEE ----------- New 2021 - ----------- What must LG CFO now attest annually?
New 2021 -
———–
1. Collected spent compliant w/ ordinance/resolution,
&
2. Used impact only to acquire, construct, or improve specific infrastructure needs.
State 4 ways LG must handle its accounting re: Impact Fees.
IMPACT FEE
(1) Provide for accounting & keep $ separate.
(2) Earmark $ for capital improvements for new users.
(3) Can’t $ to pay debt on unrelated projects.
(4) Admin charges = actual costs.
When can LG collect the impact fee from Owner?
No earlier than issuance of building permit.
IMPACT FEE ----------- New 2021 - ----------- 1) Must LG & special districts credit certain contributions toward impact fees?
2) How can they override?
IMPACT FEE ----------- New 2021 - ----------- YES, Can't override. ----------- Notwithstanding any ordinance or development order, special districts & LG must credit for contributions made by way of exaction, related to public facilities or infrastructure.
IMPACT FEE ----------- New 2021 - ----------- What are the 4 new restrictions on LG's ability to increase impact fees?
IMPACT FEE ----------- New 2021 - ----------- Retroactive to January 1, 2021: From date adopted: 1. Increase 0-25% in 2 equal annual installments; 2. Increase 26-50%, 4 equal installments; 3. Cannot exceed 50% of current; and 4. Increase only every 4 yrs UNLESS a) Demonstrated-need study justifies; b) Extraordinary circumstances; c) 2 publicly noticed workshops, & d) Adopts by 2/3 vote.
Why are impact fees imposed?
To offset the cost of new development on existing facilities.
What 3 things are required for justify an impact fee?
to justify the exact Purpose must Connect the Data
- Has a public Purpose
- Connection [Ex/Antic Needs + New/Improve]
- Amt is based on best and most recent localized Data.
As a form of exaction, what 2 connections must LG demonstrate for a valid impact fee?
Connection b/w the
🔸Ex & his anticipated needs
🔸New developmt & his capital improvements
———–
1. Reas connection b/w required impact fee & anticipated needs of the community due to the impacts of the new development
AND
2. Reas connection b/w impacts of new development & the capital improvements being funded by the impact fee.
