exactions - Exactions “A Provision in the development...

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Unformatted text preview: Exactions “A Provision in the development Provision approval process that requires a developer to give or provide something to a local government”. Peddle, 93. Exactions Exactions Two Kinds: Impact Impact In Fees Lieu Payments Exactions Exactions What can exactions provide for a community? What Schools Roads Water & Sewer Stormwater Control Stormwater Public Safety (police, fire, etc.) Affordable Housing Affordable Parks Parks Exactions Exactions Why do local governments use exactions? Why “Make growth pay its own way” Less reliance on property taxes Less More politically palatable than increasing More taxes taxes Exactions Exactions Growth Management vs. Economic Development Growth GM: Slows growth due to increased cost of property. ED: Lower property taxes make an area more attractive as a place to live and do business. as Provides financing for “quality of life” infrastructure: Parks, sidewalks, libraries, etc. Physically attractive communities are where the “creative class” want to live. ...
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