November 16, 2024 3:42 pm
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Avondale creates $2M fund to help builders, developers pay impact fees

impact feesBy Mike Sunnucks | Phoenix Business Journal

(As reported June 11 by Dealmaker)

The city of Avondale has created a $2 million fund to help commercial real estate developers and homebuilders offset the municipality’s own impact fees.

Homebuilders and developers pay impact fees to localities to help cover costs of services and infrastructure needed for new projects and subdivisions.

The Avondale program creates a $2 million pool of money the real estate sector can use to offset the cost of roads, parks, infrastructure and public safety needed for new projects.

The public money can pay for 20 percent of the builders’ impact fees with the city.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.