What are impact fee credits?
When a developer contributes actual off-site facility improvements or dedications that mitigate the impact of a particular project and the need for impact fee-related public facilities, the project’s impact fee should be reduced by the value of the improvement or dedication. Reductions can be done through offsets or reimbursements. Offsetting means reducing the total impact fee paid at the time of payment and reimbursing means paying the developer for a portion of the impact fee after the impact fee payment has been made. Offsets and reimbursements are given to ensure that new development does not pay twice for the same facilities.
