Virginia Code 15.2-2325: Updating plan and amending impact fee
Current as of: 2023 | Check for updates
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The locality shall update the needs assessment and the assumptions and projections at least once every two years. The road improvement plan shall be updated at least every two years to reflect current assumptions and projections. The impact fee schedule may be amended to reflect any substantial changes in such assumptions and projections. Any impact fees not yet paid shall be assessed at the updated rate.
Terms Used In Virginia Code 15.2-2325
- Impact fee: means a charge or assessment imposed against new development in order to generate revenue to fund or recover the costs of reasonable road improvements benefiting the new development. See Virginia Code 15.2-2318
- Locality: means a county, city, or town as the context may require. See Virginia Code 1-221
- Road improvement: includes construction of new roads or improvement or expansion of existing roads and related appurtenances as required by applicable standards of the Virginia Department of Transportation, or the applicable standards of a locality with road maintenance responsibilities, to meet increased demand attributable to new development. See Virginia Code 15.2-2318
1989, c. 485, § 15.1-498.8; 1997, c. 587; 2007, c. 896.