New development is never without costs to a municipality.
This bill provides needed guidelines and consistency statewide by defining and codifying a process that enables municipalities to recover some of those costs from the developer. By introducing a degree of predictability and structure into what is currently an ad hoc process, the bill should help improve the equity and efficiency of that process. New development very often requires new or enhanced public infrastructure. This bill authorizes municipalities to assess developers for the costs of public infrastructure expansions and improvements necessitated by their new development. Such impact fees are calculated and charged on an incremental basis, so larger developments, which will have larger off-site impacts, are assessed more.