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Vancouver amends code to allow temporary deferral of multifamily impact fees and utility SDCs
Summary
The City of Vancouver adopted two ordinances allowing multifamily developers to defer park and traffic impact fees and utility system development charges until temporary occupancy, excluding school impact fees; councilors and staff presented estimates of temporary funding shortfalls and conditions for deferral.
The Vancouver City Council on Aug. 18 adopted two ordinances to let multifamily residential developers defer certain impact fee and system development charge (SDC) payments until they request a temporary certificate of occupancy.
Patrick Quinton, Director of Economic Prosperity and Housing, and Brian Monroe, project coordinator, presented the measures and the financial analysis. Quinton said the city coordinated with public works, parks and finance to estimate the fiscal effects. "The proposed impact fee code amendments will allow applicants to request deferral of specifically traffic and park impact fees from the time…
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