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Council adopts phase two of development impact fee update, adds transportation component
Summary
Lexington council unanimously adopted phase two of the development impact fee update — including the transportation component and associated capital improvements plan and housing affordability study — following the planning commission’s recommendation.
Councilmember Jenny Michaels presented phase two of the Town of Lexington’s development impact fee update, which adds a transportation component to the town’s impact fee study, housing affordability analysis and capital improvements plan. The planning commission had recommended approval at its April 22 meeting; council voted unanimously for final reading approval on June 1.
According to the staff report, the original impact fee ordinance adopted February 1, 2020 requires a comprehensive review at least every five years; this phase-two update completes that statutorily required review by incorporating updated transportation needs and related capital projects into the fee methodology. Councilmember Michaels moved for final reading; the motion was seconded and adopted unanimously.
Next steps: Implementation of the updated impact fee schedule and inclusion of the transportation component in capital planning documents as outlined in the adopted studies and ordinance.
