The federal arterial road improvement program requires a 15 percent state and 5 percent local match. However, no one is sure if there is any federal money left for Maine currently. The next developer who benefits from those improvements would have to pay back a proportion of the money invested. It would be specific developments. The council agreed to investigate impact fees.
Impact fees are one-time charges on new commercial or residential development.
The charge is a proportionate share of a cost, or impact, created by a new development on the municipality. The money can be used only for capital improvements such as an addition to a school or wastewater plant or an improvement to a road or the purchase of a fire truck. Inc. Reproduction without permission is strictly forbidden.