Post Falls impact fees OK'd
Coeur d'Alene Press | UPDATED 14 years, 1 month AGO
POST FALLS - The Post Falls City Council on Tuesday night approved revised impact fees on new growth.
Impact fees for multi-family structures will decrease from a total of $2,645 to $2,172 and for single-family homes of up to three bedrooms from $3,414 to $2,443.
Total fees for a home of four bedrooms or more will increase from $3,414 to $3,528.
Total fees for non-residential growth will decrease, including commercial from $2.70 per square foot to $2.10, office from 93 cents to 76 cents, manufacturing from 31 cents to 26 cents and light industrial from 56 cents to 48 cents.
The fees changed, city officials say, because the city's current plan for annual growth has been changed from 3 percent to 1.5 percent due to the recession.
Impact fees are one-time payments from builders or developers to represent new growth's fair share of capital facility needs for parks and recreation, public safety and transportation. The fees can only be used for capital improvements, not operating or maintenance costs.