May 4, 2024 9:19 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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