June 14: Impact Fees: A New Direction for NYC?

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June 14, 12-1:15 PM

Impact fees are one-time charges imposed on new development as a condition of approval to offset the development’s impact on local infrastructure, services, and the environment. A revenue-raising tool, they are broadly based on the idea that new development should be responsible for paying for a share of the new or additional public infrastructure and services needed to support it, and for the costs the governments incurs in mitigating its adverse impacts on the environment. 

Employed widely in other major U.S. cities, New York City does not have an official impact fee policy.

Facing numerous challenges in raising the revenue needed to support its growing population, some have called for the City to explore whether to adopt an impact fee program. Yet, there are open questions surrounding the city’s legal authority to charge impact fees, as well as whether they are an appropriate or viable policy choice.

At this upcoming event, a panel of experts will come together to explore these questions and share their perspectives on this issue. 

Register for the event here.