In December 2023, the Town of Wake Forest retained Benesch to conduct a Multimodal Transportation Impact Fee Study.
Municipalities assess impact fees on property developers to pay for infrastructure improvements that must be built due to new property development. New development brings new residents, which can put a strain on a municipality’s infrastructure and services. Impact fees are designed to offset the additional cost of maintaining these services.
In 1989, the Town of Wake Forest received local legislation to enact facility (aka impact) fees for various purposes – Chapter 502 – SB 576, including transportation. Specific methodology is required to compute the calculation and includes future growth projections along with planned capital resulting from growth (Capital Improvements Plan also known as CIP).
Benesch’s draft report is available for review and comment at https://engagewakeforest.org/multi-modal-transportation-impact-fee. Benesch will present its findings to the Board of Commissioners on Tuesday, Nov. 5, at 6 p.m. and to the Planning Board on Tuesday, Nov. 12, at 6 p.m. Both meetings will take place in the Board Chambers, located on the second floor of Town Hall, 301 S. Brooks St.
A public hearing on the impact fee recommendations is scheduled for the Tuesday, Nov. 19, Board of Commissioners meeting. The meeting will also begin at 6 p.m. in the Town Hall Board Chambers. Anyone wishing to speak during this meeting must complete and submit the “Board of Commissioners – Sign Up to Speak Form” available at www.wakeforestnc.gov/public-meetings-portal by 3 p.m. on November 19. For more information, email Assistant Town Manager Candace Davis at cdavis@wakeforestnc.gov.
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