Defer up to $1.2 million in impact fees for 271-unit affordable apartment project
In Plain English
A developer wants to build 271 affordable apartments on Nevin Avenue but cannot afford the full $1.2 million in city impact fees upfront. Impact fees help pay for infrastructure like roads and parks that new development requires. If approved, the city delays collecting these fees for up to 40 years to make the affordable housing project financially viable.
Auto-generated summary. Source: official agenda documents.
Votes
Approved the item
7 to 0
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