The program would “waive all of the city’s impact fees – which pay for water, sewer, stormwater and parks infrastructure – for any new construction worth $675,000 or more,” according to Oregon Live.
“Fairview citizens are going to ultimately bear the burden of this waiver,” said Fairview City Councilor Brian Cooper, the only person on the seven-member panel to oppose the program last month.
At a time when Fairview was already attracting large multifamily investment, a hypothetical 180-unit apartment complex worth $10 million would win nearly $1.3 million in waivers under the incentive program, according to calculations by city staff. It would take 25 years of property tax collections on such a property for Fairview to break even on that amount, the calculations show.
Now, city planners are “looking hard” at how they’ll possibly pay for needed improvements to Fairview’s stormwater discharge system and evaluating whether other parts of their capital improvement plan have to be shelved, said Nolan Young, who started January 25 as city administrator.
(READ MORE: Oregon Live)