The Town of Vail is hosting a public meeting from 4 to 6 p.m. Wednesday, March 15 to collect comments on a proposed transportation impact fee schedule. The meeting will take place in the Town of Vail Municipal Building Conference Room at 75 S. Frontage Road and will include information presented by the town staff. Developers, planners and other representatives from the building community as well as Town of Vail citizens are encouraged to attend to learn more about the proposal.
Once adopted, the updated transportation impact fee schedule would replace the current traffic mitigation fee and would apply to future developments to be used to help fund transportation-related projects. The town has collected mitigating traffic fees for development in certain zone districts since 1999; however the fees have never been codified. The new schedule proposes to codify the fees and expand the mitigation to all new residential and commercial development.
The town estimates development of approximately 2,000 new units and approximately 500,000 square feet of new commercial in the next 25 years. Based on the projected growth, the list of pedestrian, transit and other transportation-related capital projects to accommodate the growth is estimated at $95 million, of which 22 percent could be paid for by the impact fee. The proposed transportation impact fee schedule has been calculated through a nexus study, completed by the consultant firm of TischlerBise, to help the new development pay its own way.
For more information, call Tom Kassmel, project manager, at 970-479-2235 or email email@example.com