- April 19, 2024
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OAKLAND – Town leaders on Tuesday, March 14, were presented with proposed impact-fee changes from their financial consulting firm, Raftelis Financial Consultants Inc. The firm reviewed the town’s impact fees and suggested changes to ensure the amounts are enough to fund project costs for the town’s capital expansion plans over the next five years. Impact fees, which are calculated based on estimated costs of both current and future public infrastructure needs, generally provide a source of funding for the town’s expansion-related capital improvement project costs.
“Impact fees provide a source of funding for expansion, or new construction, of existing public facilities to accommodate the needs generated by growth or other community-wide goals and objectives,” said Mike Parker, Oakland’s Public Works Director.
RFC’s recent report — which analyzed the town’s water, wastewater, parks and recreation, administration, police and transportation impact fees — suggested the town increase the parks and recreation fee to fund the parks and recreation department’s bicycle-pedestrian mobility plan for the trail system, as well as the Oakland Art and History Center.
The firm’s report suggests the existing parks and recreation fee be increased from $507 to $1,522 for single-family residential units and from $507 to $1,141 for multi-family residential units.
Parker said this increase is necessary to both address a deficiency in the existing parks and recreation impact fee and accommodate the projected infrastructure needs that stem from the town’s unprecedented growth.
“Impact fees only are collected at the time of issuance of a building permit,” said Parker, who added that the town’s rates are comparable to other municipalities.
Commissioners unanimously agreed that the parks and recreation fee should be increased. However, the increase will not be official until it is passed via an ordinance. The first reading is scheduled for March 28.
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Contact Gabby Baquero at [email protected].
