2019 City of Waterloo Impact Fee Review & Recommendations has been published.

2019-06-20 Impact Fee Review & Recommendations Report

 

REPORT EXECUTIVE SUMMARY (Clerk/Treasurer's Recommendations)

1.    Formalize a strategy of encouraging private investment in Waterloo by reducing the cost of building rescinding existing impact fees, effective January 1, 2020.

2.    Establish a target growth rate of 2%, over a rolling three-year average, using the state DOR net new construction calculation to measure the rate of growth before considering recreating impact fees.

3.    Prepare future planning documents with new development and future fees in mind.

4.    Strike chapter 380-50 of the municipal code.  

5.    Schedule annual reviews.

 

What are Impact Fees????l

ImpactFeeOverview2

 

The City has received impact fees since 2006 which must be spent in accordance with the local ordinance and state statutes. 

As of January 1, 2019 Clerk/Treasurer's office administers four Impact Fee Funds: 201 (Stormwater), 202 (Public Works), 203 (Parks & Recreation) and 204 Sanitary Sewer. On October 4, 2018 at the request of the Utility Superindent and the Water & Light Commission the City Council repealed the Water Impact Fee (formerly fund 205).

Impact fees are fees that are collected in order to pay for the capital costs to construct, expand or improve public facilities which are necessary to accommodate land development in Waterloo. The imposition of impact fees is intended to ensure that public facilities are adequate to meet the development needs of the City and that new development pays a proportionate share of new, expanded or improved facilities required by such development. Impact fees are determined at the time of development approval and are generally payable in full, at the annually adjusted rate then in effect, at the time of issuance of any building permit.

Impact Fees - Audited Financial Reports

The City has received impact fees since 2006 which must be spent in accordance with the local ordinance and state statutes.  If a fee is not spent within seven years of receipt it must be refunded to the current property owner.

As of January 1, 2019 Clerk/Treasurer's office administers four Impact Fee Funds: 201 (Stormwater), 202 (Public Works), 203 (Parks & Recreation) and 204 Sanitary Sewer. On October 4, 2018 at the request of the Utility Superindent and the Water & Light Commission the City Council repealed the Water Impact Fee (formerly fund 205).

Background Information - Local, State and Other Resources

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