HL&P Impact Fee Collection
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2014 Im[act Fee Collection
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JanFebMarAprMayJuneTotal
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Impact Fees$29,080$66,336$100,822$167,749$133,257$497,244
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# certificates1318174332123
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$2,237$3,685$5,931$3,901$4,164$4,043
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@100%$70,927$161,795$245,907$409,144$325,017$1,212,790
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@60%$42,556$97,077$147,544$245,486$195,010$727,674
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Re HLP Impact Fees: (from the Wed 6/25 HLP packet info - financial statement and last page for # cert.
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@100% = income if raised to max, etc.
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As Pender's Cost of Service study report says, part of rate determination should be 'Cost Causation.' Impact fees are designed to recover some of the the cost caused by new development.
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The current (and since 2006) rate is reportedly 41% of max. A simple raise to 60% would garner $230K, 100% would have yielded $700K.
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If the cost of new infrastructure is not collected from the developments which are causing it, the remaining costs must be borne by current ratepayers.
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Is that 'fair and equitable'? - another determining factor for rate calculation.
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(The item is listed as "connection and impact fees," so the impact fee itself may be smaller, but the principle is the same.)
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