Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is a Development Impact Fee (DIF)?

Development DIF fee impact
0
Posted

What is a Development Impact Fee (DIF)?

0

Within urbanized communities which are near buildout, Development Impact Fees (DIF) are collected to mitigate the impact of new development through provision of a portion of the financing needed for identified public facilities and to maintain existing levels of service for that community. Upon determination of the area of benefit and community buildout population, the estimated cost to construct the facilities is divided among residential and nonresidential development. The cost of each development is dependent on the type and size of that development. New development can only be charged a fee proportional to the impact it causes.

What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.

Experts123