Nov
30

Channahon Suspending Building Fees to Encourage Builder Interest

November 30, 2012

will county new homes housing feesThe village of Channahon is temporarily suspending building fees in order to spur housing growth, according to the Southwest Suburban Home Builders Association.

In the past year, Channahon only issued two building permits, and the SSHBA hopes that suspending the fees will increase builder interest in the area.

Channahon is located in Grundy and Will counties, and has a population of around 12,560. The town has used a village impact fee since 2000 and a school impact fee since 2004. Under the new guidelines, school and village impact fees will be suspended for a year.

Fees paid by developers to the fire protection district will decrease from $300 to $250 for attached residential units and from $400 to $250 for detached units. The decreased fees could end up saving developers more than $7,400 on a three bedroom, 2,000 square-foot house.

Impact fees are important because they are used to pay the initial costs incurred by new residents for using schools, fire protection and roads. While some officials are concerned that the impact fee suspension could be detrimental to local schools, Karin Evans, the Channahon Superintendent, said that school enrollment has been declining and it is important to focus on Channahon’s potential for growth.

Do you think the fee suspension will benefit real estate in Chicago?

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