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Impact Fees: A New Direction for NYC?
June 14, 2022, 12:00 pm – 1:15 pm EDT
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.
Eric Kober, Senior Fellow, The Manhattan Institute, former Director of Housing, Economic & Infrastructure Planning, NYC Department of City Planning
David Garcia, Policy Director, Terner Center for Housing Innovation at University of California, Berkeley
Louis Cholden-Brown, Senior Advisor & Special Counsel for Policy and Innovation, Office of NYC Comptroller Brad Lander
Spencer Williams, Director of Advocacy, The Municipal Art Society
Adalene Minelli, Senior Fellow, Guarini Center
Register for the event here.
This event is made possible by the generous support of the New York Community Trust.