Central City Approves New Water Tap Fee Incentive Program
To promote new development and growth in Central City, the City Council approved a new Water Tap Fee Incentive Program on Tuesday, May 5 to support property owners and developer investment. This aligns with goals set forward in the City Comprehensive Plan adopted in 2017. Through this unique program, Central City’s City Manager can approve rebates for water tap fees on new developments in key parts of the community that are in line with the City’s economic development goals. The City has $829,205 available in water credits for property owners and developers to apply towards tap fees, with certain amounts allocated towards the Bridge Gateway Area, general commercial development, and residential infill.
Most properties in the community are eligible for the program and approved projects will generally receive a 30% rebate. However, there is opportunity to increase the rebate amount if applicants demonstrate a commitment to Central City’s economic development goals. This includes a variety of initiatives such as job creation, infrastructure and façade improvements, housing and mixed-use developments, etc. The maximum rebate received can’t exceed 100%.
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