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LCity.,yi . FINANCE COMMITTEE <br /> Louisville COMMUNICATION <br /> COLORADO•SINCE 1878 <br /> SUBJECT: REVIEW OF 2016 IMPACT FEE STUDY <br /> DATE: JULY 18, 2016 <br /> PRESENTED BY: KEVIN WATSON, FINANCE <br /> SUMMARY: <br /> Per Section 3.18.100 of the Louisville Municipal Code, the City is required to review its <br /> impact fees every five years: <br /> The impact fees described in this chapter and the administrative <br /> procedures of this chapter shall be reviewed at least once every five years <br /> by the city manager or the manager's designee to ensure that (1) the <br /> demand and cost assumptions underlying the impact fees are still valid, <br /> (2) the resulting impact fees do not exceed the actual costs of constructing <br /> capital facilities that are of the type for which the fees are paid and that are <br /> required to serve new impact-generating development, (3) the monies <br /> collected or to be collected in each impact fee trust account have been <br /> and are expected to be spent for capital facilities for which the fees were <br /> paid, and (4) the capital facilities for which the fees are to be used will <br /> benefit the new development paying the fees. <br /> (Ord. No. 1506-2006, § 2, 12-19-2006) <br /> Staff is preparing for the next impact fee review, which is scheduled for 2016. Heather <br /> Balser, Deputy City Manager, will be at the meeting to summarize the history, current <br /> methodologies, and the 2016 review process. <br /> Attached is the TischlerBise report on impact fees dated October 18, 2011 and the 2016 <br /> ordinance adopting the current fees (including Exhibits A and B). <br /> FINANCE COMMITTEE COMMUNICATION <br /> 6 <br />