Title/Name/Summary
Substantive Amendment: Revise and Update Development and Subdivision Exactions: Dedication of Land and Fees in Lieu of Dedication
History
AMENDMENT SUMMARY
Section 5-112.H Development and Subdivision Exactions
Rewrite of the Development and Subdivision Exactions: Dedication of Land and Fees in Lieu of Dedication section of the Land Development Code to conform to industry standards associated with residential development.
This agenda item is being considered by the Committee of the Whole tonight.
AMENDMENT EXPLANATION
The proposed amendment for development and subdivision exactions focuses on ensuring adequate resources, facilities, and other development-related capital expenses to support new residential land development. Although some portions have undergone updates over the years, a comprehensive overhaul of impact fees has not occurred since 1994.
While there is no mandatory requirement to collect impact fees, the Village must adhere to specific state laws if such fees are gathered, which have been updated in this amendment. Additionally, if approved, each taxing district would be required to sign an intergovernmental agreement (IGA) to disperse the fees.
Updating the impact fees aligns the Village with other comparable municipalities and brings development-related capital expenses closer to the actual costs anticipated by the Village and other taxing districts. Law enforcement, fire and emergency response, and Village public infrastructure were not previously collected, but are specifically tied to new residential development. The amendment report and the proposed ordinance is attached.
Recommended Action/Motion
I move to recommend to the Village Board to approve the Plan Commission Recommended Action regarding case number 2023-0915 as presented in the Staff Report.
THIS PART IS FOR REFERENCE ONLY (NOT NECESSARY TO BE READ OUT LOUD)
I move to recommend the Village Board approve the Plan Commission Recommended Action for the Land ...
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