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Procedures for payment of the Employee Housing Impact Fee are set forth in Chapter 2. Impact Fee for Residential Development and Land Use.
(a) Impact Fee Formulas
The impact fee for residential development or land use will vary based upon the size of the residential development. In no case shall an impact fee apply to properties improved with less than five thousand seven hundred fifty (5,750) square feet of interior floor area as measured by the IBC. The fee collected for residential construction shall reflect mitigation for second-home use unless a covenant is recorded on the property restricting it to Pitkin County resident occupancy. The formula to determine the fee amount for each specific residential development is as follows:
- For residential development of 9,000 square feet or less:
- (a) Construction Employment for all Units = {[0.547 * ( Unit FT² * .001)] \ 40}
- (b) Post-Construction Employment – Locally Occupied Unit = Exponent [ -4.67138 + (0.000328 * Unit FT² )]
- (c) Post-Construction Employment – Second/Vacation Home = Exponent [ -4.67138 + (0.000328 * Unit FT² ) + 2.00514]
- (d) Total Employees = Construction Employment + Post- Construction Employment
- (e) Impact Fee = Total Employees * $34,173
- For Units over 9,000 square feet:
- (a) Add $1,141.67 per 1,000 square feet for locally occupied units
- (b) Add $5,515.00 per 1,000 square feet for second/vacation homes
(b) Examples
- Even though it will be necessary to calculate the impact fee for each individual residential development since each will vary in size, a schedule for specific sizes of residential development that demonstrates employees generated, the affordable housing units needed and the impact fee is set down in Table 8.2.
*This fee schedule is administratively adjusted annually (by Code Provision) based on CPI. Click below to access the current fee schedule: http://pitkincounty.com/219/Fee-Information
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