Chapter 9 in the UDO dedicates a few pages to the fees associated with new development. Rather than summarize the entire fee schedule for new development, we decided to focus on something that caught our eye.
Section 9.5.4 discusses the creation of trust funds. Instead of going into the general fund, facility fees are kept separate, much like the parking fund fees. According to the code, a trust fund must be set up all benefits areas that are labeled Thoroughfare and Collector Street Benefit areas and Open Space Benefit areas.
“The trust funds are facility fee funds and have been around for many years,” said UDO Project Manager Christine Darges. “They are done by area and used for city initiated stormwater, utility or roadway projects.”
Darges added that they are non-interest bearing accounts and has not changed from the current code. Like the rest of the chapter, information pertaining to the trust funds needed to be reformatted, but not substantially rewritten.