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Showing posts from September, 2013

Impact Fees: Fees for Impact

As cities and regions grow, so does the demand for infrastructure. As infrastructure demand increases so does the costs needed to maintain, improve, and expand that infrastructure. Governments used to fund those improvement costs. However, they grew smart. The rising tax collections necessary to fund these improvements plus the massive expenditures necessary for continual upgrades became too great.

Enter Impact Fees. Impact fees are payments made to a municipality by a developer (real estate or property) to pay for some, or all, of the physical improvements needed by a proposed development and its consequential impact on the community. Instead of raising taxes on residents, the developer bears most of the burden.

The revenue collected from impact fees can only be used for capital improvements such as sewer mains, streets, water lines, parks, schools, and public safety.

For more info on impact fees, check out these sites:

http://www.impactfees.com/http://www.dca.state.ga.us/development/…

Establishing the Link

Among the many hats than an economic developer wears, there is perhaps none more important than that of 'connector.'

Economic developers link people. We link entrepreneurs with local/county/state/federal business resources. We link businesses looking for available real estate or empty office space to landlords and property owners. We facilitate business to business match-ups. We represent public and private sector interests.

We bridge gaps. We connect dots. We make matches. We establish the link.