Developers pay a reduced amount for needed street improvements to serve their development. Under state law, development impacts cannot be entirely born by the property owner or builder. Local governments must pay a share, recognizing that improvements needed for development will also benefit the public at large, that growth also has community benefits and that growth should be reasonably accommodated.
The discount reduces the amount developers pay and provides development incentives during times when market conditions have proven difficult to entice development under full impact fee rates.
The City’s current 50 percent discount fee will revert back to a 25 percent discount on Oct. 1, 2017. The City Council has had discussions focused on the effect that impact fee discounts had on funding improvements included on the City’s six year project list. It was recognized that the adopted discount rates did not fully consider the needed “backfill” of funds to complete planned projects once the discounts were applied. The Council therefore directed staff to come back with an ordinance that could either decrease or eliminate the discount rate, thereby more fully imposing the fees adopted under the 2007 impact fee ordinance.
Three possible options for the Council are to eliminate the current discount, reduce the discount or retain the 50 percent discount.
The Council also will consider adoption of the Ballinger Park Master Plan and will hear a presentation about the proposed Historic Aviation Campus at Paine Field in Snohomish County.
The meeting will be at 7 p.m. at the Mountlake Terrace Interim City Hall, 6100 219th St. SW., Suite 220, second floor.