“This is going to be a gut punch to the housing industry across Fort Worth.'
Fort Worth City Council voted on Tuesday to nearly double the rate residential developers pay for transportation impact fees, which critics argue could worsen the city’s affordability issues and dampen future housing development.
The ultimate goal of the transportation impact fee program is to build-out as much of the Transportation Improvement Plan as possible in the next five years. In the last five years, the city has completed 15% of the TIP. How much developers can expect to pay in transportation impact fees is broken down by service area. Each service area has a different maximum, or “schedule 1.” Broadly speaking, the schedule 1 for each service area has gone up.
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