In our latest webinar, WGI’s Director of Mobility, Ravali Kosaraju, PE, PTOE, and Engineer, Ashley Orr, PE, shared exclusive insights with attendees as they discussed the intricacies of Street Impact Fees (SIF) and shared valuable guidance on how to avoid the common mistakes that far too often plague developers who aren’t prepared.
In December 2020, City Council adopted a new Street Impact Fee (SIF) that will be assessed on new developments to help fund roadway capacity projects. Just like the impact fees collected by utilities, the concept behind the SIF is to collect fees to help fund roadway capacity improvements to accommodate new development. Currently, development projects are subject to a “fee-in-lieu,” which is determined on a case-by-case basis based on a Traffic Impact Analysis (TIA). The new SIF will help improve predictability for developers. Development teams will be able to determine the transportation impact (in dollars) earlier in the project based on the project location. Any project with a new building permit issued on or after June 21, 2022, will be subject to the fees. SIF varies based on service area within City limits (total of 17 service areas), land uses, and associated density.
If you were unable to attend our live webinar or want to gain a better understanding of the importance of Street Impact Fees (SIF) & their substantial effects on development projects across the nation, watch the full video recap of our webinar session below and gain a deeper understanding of these significant development fees:
Still have questions about Street Impact Fees (SIF) and what these costs look like for single-family, multi-family, or commercial uses? We can help!
Contact our team today to speak with one of our industry-leading experts about your next project.
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