15.2-2324 - Credits against impact fee. - Virginia Statutes

§ 15.2-2324. Credits against impact fee.

The value of any dedication, contribution or construction from the developerfor off-site road or other transportation improvements benefiting the impactfee service area shall be treated as a credit against the impact fees imposedon the developer's project. The locality shall treat as a credit any off-sitetransportation dedication, contribution, or construction, whether it is acondition of a rezoning or otherwise committed to the locality. The localitymay by ordinance provide for credits for approved on-site transportationimprovements in excess of those required by the development.

The locality also shall calculate and credit against impact fees the extentto which (i) other developments have already contributed to the cost ofexisting roads which will benefit the development, (ii) new development willcontribute to the cost of existing roads, and (iii) new development willcontribute to the cost of road improvements in the future other than throughimpact fees, including any special taxing districts, special assessments, orcommunity development authorities.

(1989, c. 485, § 15.1-498.7; 1992, c. 465; 1997, c. 587; 2007, c. 896.)