Impact Fee Study
As part of the 2024 Parks and Recreation Master Plan Update (Play It Forward Wake Forest), a consultant, Benesch, performed a study to evaluate Wake Forest’s current recreation impact fees and determine whether increases are warranted.
Impact Fees
Municipalities assess impact fees on property developers to pay for infrastructure improvements that must be built due to new property development. New development brings new residents, which can put a strain on a municipality’s infrastructure and services. Impact fees are designed to offset the additional cost of maintaining these services.
In 1989, the Town of Wake Forest received local legislation to enact facility (also known as impact) fees for various purposes – Chapter 502 – SB 576.
Specific methodology is required to compute the calculation and includes future growth projections along with planned capital resulting from growth (Capital Improvements Plan also known as CIP).
Wake Forest adopted recreation impact fees in 1997, then updated the fee schedule in 2003 and again in 2018.
Once collected, the Town utilizes impact fees to address parks and recreation capital needs created by growth. Examples of Wake Forest facilities built/upgraded, properties purchased, and amenities introduced through the use of impact fees include Flaherty Park Field #2 Improvements; Devon Square land purchase (future skate park/pump park) – 8.34 acres; 610 Brooks Street – 1.75 acres; park sidewalk connections; and greenway connections.
| Land Use | History of Parks & Rec Impact Fees | ||||
| Last Update | 1997 | 2003 | 2018 | ||
| Adoption Percentage | 40% | 40% | 70% (2018) | 80% (2019) | 90% (2020) |
| Residential | |||||
| Single Family, Townhouse & Mobile Home | $715 | $1,086 | $2,871 | $3,281 | $3,691 |
| Multi-Family | $622 | $945 | $1,713 | $1,958 | $2,202 |
2024 Parks & Rec Impact Fee Study Update
Benesch presented the 2024 Parks & Recreation Impact Fee Study Update and recommended fee adjustments to the Board of Commissioners (BOC) on September 3 and to the Planning Board on September 4.
During its September 3 work session, the BOC reached consensus to maintain the previously approved 70/80/90 percentage rate implementation of the Parks & Rec impact fees on an annual basis.
If those percentage rates are formally approved, the updated impact fees will become effective January 1, 2025, at 70% of the calculated fee. The effective dates for phasing increases would be January 1, 2026, at 80% and January 1, 2027, at 90% of the calculated fee.
Public Hearing
Tuesday, Sept. 17 | 6 pm
Wake Forest Town Hall, 301 S. Brooks St.
A public hearing on the impact fee recommendations is scheduled for the Tuesday, Sept. 17, Board of Commissioners meeting.
The meeting will begin at 6 p.m. in the Town Hall Board Chambers, 301 S. Brooks St.
Anyone wishing to speak during this meeting must complete and submit the Board of Commissioners – Sign Up to Speak Form by 3 p.m. on September 17.
Staff’s recommendation is to approve the impact fee recommendations as presented by Benesch and will request the Board of Commissioners consider formal approval at the October 15 BOC meeting.
For more information, email Assistant Town Manager Candace Davis at [email protected].