By Rusty Bradshaw | Independent Newsmedia, Inc. USA
Peoria officials began the process last week to draw up new rules and a price structure for development impact fees after legislation passed last year redefining the practice for municipalities.
Arizona Senate Bill 1525 placed greater restrictions on several fee categories by redefining necessary public services, and added new requirements related to how impact fees are calculated, according to Katie Gregory, Peoria deputy finance and budget director. City staff and consultants reported to City Council Oct. 15 on the status of rewriting city procedure and fee structure for impact fees.
“Impact fees are a significant source of funding for our capital plans,” Ms. Gregory said.
