Boynton Beach Reduces Impact Fees
City commissioners voted 5-0 at Tuesday’s meeting to drop by a third the “impact fees” new developers pay toward parks.
The city follows a formula that takes into account overall real estate values and park construction costs. Both have gone down since five years ago, when a strong market drove up the cost of building supplies.
Fees cover only new parks and expansion, not maintenance or operating costs.
Source: Palm Beach Post
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