Vail Town Council to consider transportation impact fees Tuesday, Nov. 7
VAIL — The Vail Town Council will consider adoption of a resolution to approve a transportation impact fee schedule at its Tuesday, Nov. 7, meeting. The action item, Resolution No. 29, is listed as 10.1 on the meeting agenda, which begins at 3 p.m. in the Vail Town Council Chambers. There will be opportunities for public comment.
The resolution follows council’s adoption of an amendment to Title 12 of the Vail Town Code to add a new Chapter 26, Transportation Impact Fee, earlier in the year. The proposed transportation impact fee schedule 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 or change use. This new fee would be paid by the owner or developer and would be collected by the Vail Community Development Department at the time of issuance of a building permit.
Revenues from this fee would be used by the town for new transportation-related infrastructure projects that are necessary due to the increased vehicular, pedestrian and bicycle traffic from the incremental new development. Upon adoption of the resolution, the impact fee rate schedule would potentially go into effect on Jan. 1, 2018.