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PTC impact fees to spike; new homes will be more costlyTue, 09/01/2009 - 3:54pm
By: John Munford
Thursday night the Peachtree City Council is set to significantly increase residential impact fees. The same action would also require impact fees from non-residential development, a first for the city. Impact fees are one-time only and are collected from developers once a parcel is under construction. The move has no effect on current housing, only on yet-to-be constructed homes. Most of the current residential impact fees range from just under $1,100 to just over $1,700 per unit based on which service area in the city the new development occurs. Under the new plan, all residential impact fees would jump to $3,466 per new dwelling unit. Several local developers have strongly opposed the spike of impact fees in a housing market that is already depressed. The plan Peachtree City will adopt would raise an estimated $6.8 million in impact fees to support $11 million in city costs for future capital improvements. Of that $11 million, some $7 million would be required to meet the demand brought on by additional new construction, according to the city’s impact fee methodology report. Without the impact fees, the city would need to allocate roughly 0.31 mills of property taxes each year, but with the impact fees the millage would need a 0.11 mill boost, the report indicates. Under the proposal, impact fees for non-residential buildings would be calculated as follows: • Industrial uses would pay between 7.7 cents and 97.2 cents per square foot; • Lodging uses would pay as low as $42.13 per room for a “business hotel” up to $299.52 per room for a regular motel; • Recreational uses would pay between 15.4 cents per square foot for a racquet club up to $3,830 an acre for an amusement park; • Institutional uses would pay between 21.7 cents per square foot for a church or synagogue up to $3.40 per square foot for a private school and $421.17 for a lodge/fraternal organization. • Retail uses, charged mostly by the square foot, would range from 17.5 cents per square foot for a furniture store all the way up to $3.14 per square foot for a quality restaurant or a sit-down restaurant and $4.59 per square foot for a fast-food restaurant. • Office uses would pay between $1.23 and $1.70 per square foot. login to post comments |