Interesting discussion on Impact Fees at FBMA
Jim Duncan with Duncan & Associates made a presentation on impact fees to the Farragut Board of Mayor and Aldermen last Thursday the 20th. I have watched this a few times on video tape and Jim Duncan is clearly one of the most knowledgeable people on this subject.
The most surprising thing I learned was that properly coded impact fees do not cost developers out of pocket money. In some cases they can actually save the developer money. Duncan presented the case of impact fees as a win win scenario. Good for the town and good for those that make and buy homes.
It will be interesting to see how this develops. Most developers and contractors see impact fees as a tax. I am sure there will be great discussion as the Town of Farragut examines this issue.
posted by Mike @ 12:35 PM
4 comments
4 Comments:
With the amount of housing development going on in Farragut over the past 5 years impact fees could have releived a big burden on the towns costs for road improvements.Impact fees for the developers can be easily recouped in the price of the lots. They are needed, and are effective in preventing a property tax in the town.
Rod
I support impact fees. When a new subdivision is built on a rural road those new people should contribute to improving the road. This town cannot continue this massive road building without having a property tax. The money has to come from somewhere.
With two new subdivisions putting traffic on Virtue Road the need to widen Virtue Road cannot be ignored any longer. Why not have these developments pay their fair share?
Bob
What effect on business development; job growth; and new plant locations? Impact fees may hazard your competitive position and reduce new job growth. Those who preach the good about impact fees seldom mention these issues...
Anonymous said...
What effect on business development; job growth; and new plant locations? Impact fees may hazard your competitive position and reduce new job growth. Those who preach the good about impact fees seldom mention these issues...
What job growth? Retail has died in Farragut. Plant location? Hardly an industrial town. This town needs the impact fees to make the roads safer for all of the children that are moving to this prime living location between Oak Ridge and Maryville. These are the industrial centers where their parents work.
Now if only the Farragut officials could figure out a way to get more retail into the town before it dies. Or has retail in Farragut died already?
Franklin
Post a Comment
<< Home