Pierce County TIF Proposal to Arrive in Committee Next Monday

A series of anticipated projects throughout Pierce County are included in the recent proposal from the Transportation Advisory Commission and, along with these proposals, are adjustments to current Transportation Impact Fee (TIF) rates to provide necessary funding. The recommendation projects that TIF monies ultimately would account for an anticipated $253 million in revenue; 36% of the funding for these roadway projects the County is pursuing.

Several problems with the current TIF proposal and ordinance have been identified by the MBA. Among these identified issues are the disparate Zone C fee increases when compared to the other zones. TIF cost per single family homes increases to a CPI adjusted rate of $1,079.13 per land use unit per trip. No other zone sees such a drastic increase in fees. Additionally, in the current TIF proposal and ordinance, there are no credits or exemptions offered to offset TIF costs (unless previously negotiated). Furthermore, the MBA argues that requiring TIF to cover 36% of roadway project costs is too onerous.

We find ourselves in the midst of a national housing affordability crisis and housing attainability continues to be negatively affected by government regulation at the local, state, and federal levels. At the Community Development Committee (CDC) Meeting on October 15th, the Committee will be hearing a presentation on Traffic Impact Fee recommendation and considering whether or not to pass on the plan to Council.