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Glenview board directs staff to raise fair-market value used in school and park impact fees
Summary
Trustees directed staff to pursue a code amendment raising the 'improved land' fair-market value from $500,000 to $650,000 per acre, a change staff estimates would increase fee-in-lieu amounts by about 30%. Trustees asked staff to evaluate linking future updates to Cook County assessor data and confirmed the change would apply to developments that have not yet pulled permits.
Director Brady briefed the board Sept. 2 on a proposed text amendment to the subdivision code that would change the fair-market value of improved land, one of three factors used to calculate school and park impact fees. Staff recommended raising the land value used in the formula from $500,000 to $650,000 per…
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