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Transportation Development Fee Update. Council Work Session Presentation December 18, 2007. Presentation Overview. History of Cary TDF Fee calculation methodology Developer credits/reimbursements Transportation zones New maximum fees Fee comparisons to other local municipalities
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Transportation Development Fee Update Council Work Session Presentation December 18, 2007
Presentation Overview • History of Cary TDF • Fee calculation methodology • Developer credits/reimbursements • Transportation zones • New maximum fees • Fee comparisons to other local municipalities • Action items _______________________________________________________________________________________________________________________________________________________________
History of Cary TDF • 1988 – Original Duncan study • 1989 – Original TDF ordinance • 1998 – Raftelis study • 1999 – 1st “interim” fee update • 2000 – 2nd “interim” fee update • 2001 – Duncan zonal study _______________________________________________________________________________________________________________________________________________________________
History of Cary TDF • 2002 – Adopted at 2/3 max. fees • 2004 – Fee reduced 30% effective 3/1/2004 • 2005 – Fee reduced 30% effective 7/1/2005 Reduction brought fees to 1999 levels; equal to 1/3 of 2001 study maximum _______________________________________________________________________________________________________________________________________________________________
Fee Calculation _______________________________________________________________________________________________________________________________________________________________
Fee Calculation – Single-Family _______________________________________________________________________________________________________________________________________________________________ 6
Developer Credits/Reimbursements • Developers get credit for frontage improvements in excess of cost of a collector street standard _______________________________________________________________________________________________________________________________________________________________
Developer Credits/Reimbursements • Credit up to amount of fees to be paid by subdivisions used to reduce fees (Offsets) • In typical case, 60% of developer cost is eligible for credit • To avoid over-charging, only 60% of cost of new capacity included in fee _______________________________________________________________________________________________________________________________________________________________
Developer Credits/Reimbursements • Any additional credit eligible for reimbursement • 25% of annual TDF revenue earmarked for reimbursement _______________________________________________________________________________________________________________________________________________________________
Current Transportation Development Zones _______________________________________________________________________________________________________________________________________________________________
Proposed Town of Cary Transportation Development Zones • Recommend two zones vs. three Base Southeast Central Central • Merge Southeast into Base zone • Fees similar • No cost basis for keeping zones separate Base _______________________________________________________________________________________________________________________________________________________________
Proposed Town of Cary Transportation Development Zones • Set fees in Base zone based on LOS D • Set fees in Central zone based on LOS F • Consistent with APF regulations • Cost basis for lower fees _______________________________________________________________________________________________________________________________________________________________
Central Zone Fee Comparison _______________________________________________________________________________________________________________________________________________________________
Base Zone Fee Comparison _______________________________________________________________________________________________________________________________________________________________
New MaximumFees _______________________________________________________________________________________________________________________________________________________________
Other Local Municipal Transportation Development Fees Comparative existing fees • Raleigh and Durham • considering comparable fees
Comparative Existing Transportation Development Fees _______________________________________________________________________________________________________________________________________________________________ 17
Comparative Maximum Transportation Development Fees _______________________________________________________________________________________________________________________________________________________________ 18
Action Items • Provide direction as to percentage of fees to be charged • Provide direction on effective date of new fees _______________________________________________________________________________________________________________________________________________________________
Action Items • Instruct staff whether to proceed with public review/adoption process • Call for public hearing • Advertise public hearing • Hold public hearing • Vote on new maximum fees _______________________________________________________________________________________________________________________________________________________________