The Vail Town Council will consider first reading of an ordnance establishing a transportation impact fee at its regular meeting on Tuesday, June 6. The item, Ordinance No. 4
, is listed as 6.1 on the meeting agenda
which begins at 6 p.m. in the Town Council Chambers with opportunities for public comment.
The proposed transportation impact fee would apply to new developments, including creation of any new residential dwelling units, or any new commercial floor area. The fee would not apply to residential remodels where no additional units are added, or to commercial remodels that do not increase square footage. This new fee would be paid by the owner or developer, and would be collected by the Community Development Department at the time of issuance of a building permit. As proposed, revenues from this fee would be used by the Town of Vail for new transportation related infrastructure projects that are necessary due to the increased vehicular, pedestrian and bicycle traffic from the incremental new 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 offset the impacts of growth within the community.
For more information, call Tom Kassmel, project manager, at 970-479-2235 or email firstname.lastname@example.org