Duke City Extends Impact Fee Moratorium

NewsNM note - With horrendus unemployment rates in the construction industry New Mexico's two largest cities take the opposite approach to so called "impact fees." Albuquerque tried them and made the determination they were bad for jobs. Progressives have fought to revive them and a "study" has been ordered. Las Cruces came along later and instituted impact fees after they had failed elsewhere.
New Mexico Business Journal - Albuquerque has extended the moratorium that reduced impact fees on new construction for at least eight more months and, perhaps, as much as one year.
The Albuquerque City Council voted last week to maintain the impact fee moratorium until a study on their affect can be completed by consultant Duncan Associates. That study is expected to be completed in another eight to 12 months. The fees are reduced by 100 percent for certifiable green building projects and 50 percent for non-sustainable green building projects. The fees have been in affect since 2009, when the construction industry lobbied the city to reduce fees as an incentive to create more building projects. Read full story here: News New Mexico

Duke City Extends Impact Fee Moratorium