How are building developers financially supporting district-wide growth, and how much of an impact does their contribution make?
Developers are required to contribute either money (in the form of site contribution fees) or land toward schools for each house that it builds. What they are required to contribute depends on the acreage/size and density of the subdivision. In recent years, district administration has also worked collaboratively with other school districts, municipal leaders and home builders to negotiate impact fees, which are used to offset the cost of new building construction in the district. District 202 has received $4.5 million annually between impact fees and site contribution fees in recent years, and that amount is expected to increase as new land is annexed and developed. However, those fees alone will not cover the cost of the projects proposed in the referendum. Additionally, the district is working with its municipalities to negotiate lag-time fees, which would help recover some of the expenses not paid to the school district in the first 12-18 months after a resident moves into a newly
Related Questions
- Why isnt the district getting money from developers through impact fees to cover the cost of building new schools in growing areas?
- How are building developers financially supporting district-wide growth, and how much of an impact does their contribution make?
- Do any builders and developers support the use of impact fees?
