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Transportation Impact Fee Program
Background
The TIF
rate established by the
Rate Study was $6,088. However, the City Council decided to set the base
rate at $5000 per new PM peak hour trip. In addition, the City Council
decided that the new rate will be phased in and charged at 50 percent
through 2011. On November 3, 2011 the City Council passed
Ordinance 1524 amending the fee schedule to increase only 5 percent
instead of 10 percent in 2012. From 2012 on it will then increase in
10 percent increments per year until reaching 95 percent in 2016. The
Rate Study Project List and
Rate
Study Map show the projects to be funded by TIFs. New developments in the Pacific Ridge zone are also subject to the Pacific Ridge Transportation Mitigation fee. As established in Exhibit B of Ordinance 1298, commercial developments that front along the Pacific Highway South corridor are required to pay the citywide transportation impact fee, but receive a credit toward the transportation impact fee equal to the amount of the Pacific Ridge Transportation Mitigation fee. New residential developments located east of the Pacific Highway South corridor are currently not required to pay the citywide TIF.
Annual Adjustment
Other useful information about the Transportation Impact Fee Program:
Exemptions
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