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Lexington staff reports impact-fee balances, cites three-year state spending rule
Summary
Staff presented an impact-fee update showing current FY25 balances for transportation, parks and municipal facilities, projected revenue through 2029, and reminded council that South Carolina law requires impact-fee proceeds be spent within three years of their scheduled expenditure date.
Vanessa (identified in the meeting as Vanessa Stoker) presented the town's annual development impact-fee report and the capital improvements plan during the Feb. 17 work session.
"These fees help build and maintain our infrastructure as we grow," Vanessa said, summarizing the purpose of the impact fees. She told council that, "as per South Carolina Code of Law, impact fees must be expended within 3 years of the date they were scheduled to be expended."
She reported the transportation impact-fee fund brought in about $148,825.91 for fiscal year 2025 and earned about $97.71 in interest, with an ending balance reported in the presentation materials. The transportation capital improvements list includes a Gibson and West Main intersection project estimated at about $1.8 million. Vanessa said the town estimates roughly $800,000 in impact-fee revenue for fiscal years 2026 through 2029 for transportation-related fees.
For parks and recreation, the presentation listed receipts of about $51,464 for FY25, interest of about $15.56, and a transfer of nearly $45,000 into a VHP (park renovation) project that left a modest ending balance (reported as about $6,534). Vanessa said the parks project list on the capital improvements plan totals more than $2 million.
For municipal facilities and equipment, she reported roughly $19,733.15 in revenue and modest interest; the presentation showed projected additional impact-fee revenue through FY29.
Council members said they were reviewing the materials and might have follow-up questions at a later date. Vanessa provided printed handouts to council during the presentation.
