Vail Town Council to consider transportation impact fee ordinance
VAIL — The Vail Town Council will again consider first reading of an ordnance establishing a transportation impact fee at its regular meeting June 20. The item, is listed as 5.1 on the meeting agenda which begins at 6 p.m. in the town council chambers. There will be opportunities for public comment.
After reviewing the ordinance June 6 and directing staff to return with modifications, the council will be consider a fee schedule as originally recommended, as well as variations of the recommended fee schedule. The recommended transportation impact fee would apply to new developments, including creation of any new residential dwelling units, or any new commercial floor area. The fee would not apply to residential remodels where no additional units are added, or to commercial remodels that do not increase square footage. The variations of the recommended fee schedule are based on subsidizing the fee or a portion of the fee for commercial and hotel developments.
This new fee would be paid by the owner or developer, and would be collected by the Vail Community Development Department at the time a building permit is issued. As proposed, revenues from the fee would be used by the town for new transportation-related infrastructure projects needed due to the increased vehicular, pedestrian and bicycle traffic from the new development.
The town estimates development of approximately 2,000 new units and approximately 500,000 square feet of new commercial in the next 25 years. Based on the projected growth, the list of pedestrian, transit and other transportation-related capital projects to accommodate the growth is estimated at $95 million, of which 22 percent could be paid for by the impact fee. The proposed transportation impact fee schedule has been calculated through a study completed by the consultant firm of TischlerBise.