In “The Economic Impact of Real Estate Development in Guilford County,” Dr. G. Donald Jud studied construction activity in 2004, a very normal year for development – neither depressed nor over-heated. It looked at economic impact (net of public services costs) during construction and for the first 10 years of occupancy of average single family, condo/townhouse, apartment, office, retail and industrial projects.

Impact fees are a local government tax on new development to fund new or expanded public infrastructure that is “off-site” (not on, or immediately adjacent to, the development project. First, know that new development already pays for all “on-site” and adjacent public infrastructure, such as sidewalks, streets, water & sewer lines, stormwater ponds, street lights, traffic lights and turn ones. Many developments also provide recreation facilities that relieve burdens on public facilities.

Inclusionary Zoning (IZ) is regulation that requires a percentage of all residential dwelling units in a development to be sold/rented at a price that is affordable to persons in low-income ranges; and then sold/rented only to low-income customers for some number of years into the future (even for homeowner-to-homeowner re-sales.)