Southeast 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 products.
FY 2022 Changes
- No projects are currently slated out of this fund
Ending Fund Balance
Fund balance for the Southeast Roadway Impact Fee Fund continues to increase due to a large amount of development in the commercial area. As new needs arise in the area, this fund balance will provide a stable funding source.
Roadway Impact Fee Creation Document (Click the Image Below)
This document provides a copy of the adoption ordinance and the Master Thoroughfare Plan.