Northwest Roadway Impact Fees Fund

Fund Description

The Town’s Roadway Impact Fees funds were created in 2016, following the adoption of a roadway master plan. The revenue generated from impact fees levied on new developments to offset the increased demand on roadway systems is deposited into these funds. The proceeds are then used to finance the expansion of the roadway systems. Impact fees allow municipalities to recoup some of the costs of expanding infrastructure when development begins, rather than waiting until tax revenue or service changes are collected after growth has occurred. Legally, the revenue generated from these fees must be used toward developing off-site, road-related capital improvements needed to serve new development.

FY 2022 Changes

No projects budgeted

The Northwest Roadway Impact Fee Fund has only recently started receiving revenue as development spreads in that direction. Since FY2020 was the first year for the fund to receive revenue, the fund has no fund balance history.

Roadway Impact Fee Creation Ordinance

(Pleace Click on the Image Below)

Roadway Image

Fund Data Table