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Theoretical Reflections on New Urban Development, Financing Urban Public Facilities, and Impact Fees

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This paper theoretically explores the relationships among new urban development, financing urban public facilities, and impact fees. Local governments face a dilemma of escalating demands for public facilities and services caused by new development without having sufficient revenues to finance these demands. Existing residents are resistant to higher taxes and fees to fund the services and improvements required by new residents. As a consequence of this problem, there is considerable interest in impact fees since impact fees are viewed as a way to ‘growth pay its way.’ It is safe to predict that local governments will increasingly turn to new sources of revenues such as impact fees to finance capital needs brought on by rapid growth. Impact fees raise such fundamental social questions as: Who really pays? How is the fee calculated? Where does the money go? How and where is it spent? Who really benefits from the new or expanded public facilities? What is the impact on housing costs? How is business generation or expansion affected? How does an impact fee policy mesh with a community’s and region’s affordable housing policy? Is new development being required to pay its fair share, or something more?

Abstract

This paper theoretically explores the relationships among new urban development, financing urban public facilities, and impact fees. Local governments face a dilemma of escalating demands for public facilities and services caused by new development without having sufficient revenues to finance these demands. Existing residents are resistant to higher taxes and fees to fund the services and improvements required by new residents. As a consequence of this problem, there is considerable interest in impact fees since impact fees are viewed as a way to ‘growth pay its way.’ It is safe to predict that local governments will increasingly turn to new sources of revenues such as impact fees to finance capital needs brought on by rapid growth. Impact fees raise such fundamental social questions as: Who really pays? How is the fee calculated? Where does the money go? How and where is it spent? Who really benefits from the new or expanded public facilities? What is the impact on housing costs? How is business generation or expansion affected? How does an impact fee policy mesh with a community’s and region’s affordable housing policy? Is new development being required to pay its fair share, or something more?

참고문헌 (33)

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