REGIONAL ROAD IMPACT FEE (RRIF) DEVELOPER CREDITS for THE TRUCKEE MEADOWS AREA OF NORTHERN NEVADA

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1 2004 NATIONAL IMPACT FEE ROUNDTABLE Naples, Florida REGIONAL ROAD IMPACT FEE (RRIF) DEVELOPER CREDITS for THE TRUCKEE MEADOWS AREA OF NORTHERN NEVADA By: Robert J. Russell, P.E., F. ASCE Engineering Director

2 Regional Transportation Commission RRIF Program I. Brief Background II. Why Credits? III. Credit Process/Procedure IV. Q & A

3 I. Brief RRIF Background Regional Transportation Commission (RTC) area includes: 2 cities Reno & Sparks 1 county Washoe County Metro population 360,000 RTC Transit company, MPO, design/construct streets and highways Regional Road Impact Fee (RRIF) was implemented in November 1995 State enabling legislation, Nevada Revised Statues (NRS), NRS 278B, Impact Fees for New Development

4 I. Brief RRIF Background (con t) Since 1995, $120± millions in congestion relief projects have been funded with impact fees RTC implements RRIF Capital Improvement Projects (CIP) in 2 ways: Hard money RRIF jobs Developer credit jobs NRS requires defined RRIF service areas and benefit districts

5 RRIF Service Area & Benefit Districts

6 Who Pays Impact Fees? Any person, who develops land located within the Service Area which will generate or attract additional traffic, is required to pay impact fee

7 II. Why Credits? Allows for flexibility regarding who does a CIP project Provides incentive for developers to complete an entire street as opposed to partial street improvements Accelerates the implementation of the CIP Makes the RRIF program more user friendly to the fee payers

8 III. Credit Process/Procedures WHO: Any person, except a unit of government, who constructs all or part of a capital improvement included in the Regional CIP or offers a dedication of land may apply for a credit

9 III. Credit Process/Procedures (con t) ELIGIBILITY: To be eligible for such a credit, a letter should be submitted to the RTC RRIF Administrator that includes the Developer of Record, the Development of Record and the proposed capital improvements prior to the initiation of work on the improvements

must be in place prior to the completion of work on the improvements.

10 III. Credit Process/Procedures (con t) CREDIT CONTRACT or Capital Contribution Front-Ending Agreement (CCFEA): A fully executed CCFEA must be in place prior to the completion of work on the improvements. In no case shall any credits be issued unless there exists a fully executed CCFEA

11 III. Credit Process/Procedures (con t) ITEMS ELIGIBLE FOR CREDITS: Mandatory or required right-of-way (ROW) dedications for street improvements in the 2030 Regional Long Range Plan Construction of street improvements included in the 10- year CIP Design, ROW, Construction Engineering During Construction Construction Financing Charges All other expenses necessary or incident to determining the feasibility or practicability of such construction

12 III. Credit Process/Procedures (con t) ITEMS NOT CREDITABLE: ROW, street improvements and/or site related improvements not included in the RRIF CIP Local streets and/or private streets Proposed street improvements which do not meet design standards approved by the RTC Proposed street improvements for which compensation has previously been given by a governmental body Any portion of the improvements which exceed the scope of the RRIF road crediting standards or the improvements envisioned in the CIP project

13 III. Credit Process/Procedures (con t) CREDIT USAGE: Can be used by Developer of Record to pay 100% of RRIF for Development of Record Can be used by Developer of Record to pay 100% of RRIF within the same benefit district Can never be used outside the benefit district in which the Development of Record lies

14 III. Credit Process/Procedures (con t) RRIF CREDIT TRANSFERABILITY: RRIF credits are transferable to a third party Third party may use them to pay 100% of RRIF for the Development of Record Third party may use them to pay 50% of RRIF outside the Development of Record, but within the same benefit district

15 III. Credit Process/Procedures (con t) RRIF CREDITS EXPIRATION: Unused credits shall expire 20 years from the original date of issuance

16 2004 NATIONAL IMPACT FEE ROUNDTABLE Naples, Florida IV. QUESTIONS? THE RRIF DEVELOPER CREDITS for the Truckee Meadows Area of Northern NV Robert J. Russell, P.E., F. ASCE Engineering Director (775)

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