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Show ‘G2 The Salt Lake Tribune/Deseret News, Saturday, February 25, 1995 ~ttAome\lnUtah “At HomeInUtah” is published each Saturday by the Newspaper Agency Corporation andincluded dyertising supplement to the Salt Lake Tribune and Deseret News. Articles in this section are for the promotional consideration of advertisers. Views expressed in “At Home In Utah” donot necessarily reflect the editorial opinions of The Tribune or News Forinformationon advertising, call 2 5 or write to “At HomeIn Utah,” Newspaper Agency Corporation, 135 South Main Street, Salt Lake City, UT 84111 Classified Advertising Manager Diana Butcher Managing Editor Rodd Wagner Editors Jackelin Slack and Laura Vernon IVORY HOMES Utah’s Number One Homebuilder MILLCREEK Hundley Haven 3605 South 700 East 262-7979 SANDY Sandy Woods 400 East 7500 South 561-8800 DRAPER Cranberry Hill 150 East 11400 South 553-8300 NORTH SALT LAKE Eastpointe 3100 South Main (East of Hwy. 89) 292-6500 BOUNTIFUL Bountiful Shadows 175 W. Pages Lane (1600 North) 292-6500 CENTERVILLE Foxbridge 760 West 1700 North 292-1667 KAYSVILLE Willow Bend 1791 S. Frontage Rd. 451-7069 Advertising Supplement to The Salt Lake Tribune & Deseret News New Legislation Limits Scope of Impact Fees The Development Fees Act (Senate Bill #95) is currently under the wings of the Utah Legislature. The Act was proposed by Senator Al Mansell in an effort to limit the scope of impactfees. The fees wereoriginally intended to cover costs of new developmentand the public works associated with new development(water, sewer, roads,etc.). However, in recent years, impact fees have been used to fund fire and police protection, schools, libraries and governmentoffices. “The assumption that impact fees may be used to finance any and every new public facility is politically irresponsible and demonstrates a lackof accountability of public funds,” said Susan Rudolph,director of Public Affairs for the Salt Lake Boardof Realtors®,in The Salt Lake Realtor® “Further, it ignores the reality that the financial burden of virtually all new growth will be shifted from the general public onto the shoulders of new homebuyers,” she said. Impact fees have the potential to knock new homebuyers out of the housing market. For example, a $90,000 home with no impact fee attachedto it requires a yearly incomeof $35,508 in order to qualify for a loan. Monthly payment, including tax and insurance, is approximately $858 at 9.5 percentinterest. That same $90,000 house with a $1,500 impact fee attached to it requires a $36,000 yearly incometo qualify for a loan. The monthly payment, including tax and insurance, is approximately $870 at 9.5 percentinterest. The amountof the impact Over 100 Realtors from across Utah were present at the State Capitol to support the Development Fees Act (Senate Bill #95) and residential property tax reductions during “‘Realtcr Day at the Legislature” Feb. 15. “As advocates of private property Tights, we feel strongly that these issues need to be monitored and addressed,” said George Richards, president of the Utah Association of Realtors. According to Richards, Utah’s realtors are in support of a state-wide residential property tax reduction as long as commercial property taxes are not affected, and increases in corporate income taxes are not needed to meetthat goal. Utah Realtors are also backing the Development Fees Act, which proposes to limit the scope of impact fees that are imposed on developers and passed on to new homebuyers. It will also define the circumstances under whichthese fees may be used. According to UAR, the proposal is not aimed to outlaw impact fees or eliminate the ability of municipalities to levy them. However, it does specify that “impact fees may only be used to cover the actual costs and necessary capital improvements needed for new development.” “Impact fees are a real concern for first-time buyers,” Richardssaid. ‘‘Especially since the price of housing has jumped 40 percent in the last four years — 12 percentin the last year alone. In order to maintain affordable housing prices, we need to moreclearly define how future impact fees may be used.” The Utah Association of Realtors has prepared a brief explanation of the Development Fees Act and what it means to homebuyersin Utah: @ It helps first-time homebuyers by keeping impact fees at a reasonable level — covering only the cost of capital improven and keeping the price of a ome within current market parameters. First-time homebuyerswill be the population hit the hardest by impact fees if they are used to finance many of the consequencesof new andexisting growth. @ It places the responsibility of growth on the whole community, not just on the new homebuyer whois notably absent during the planning process and has no chanceto vote. @ It requires municipalities to determine land use assumptions and capital improvementneedsbefore enacting a developmentfees ordinance. @ It will help Utah avoid becoming another California, where development fees are exceeding a million dollars on some developments, resulting in driving away new businesses andresidentsalike. @ It codifies the Utah Supreme Court ruling that municipalities must determine the equitable share ofthe capital costs to be borne by the newly developed properties. ‘“‘...the fees in question should not exceed the amountsufficient to equalize the relative burdens of newly developed and other properties.” As of Feb. 15, the Development Fees Act passed the Senate committee with one small amendmentregarding the definition of affordable housing. ‘At Homein Utah’ Welcomes Submissions from Readers “At Home in Utah”invites its readers to submit industry-related material for publication. “At Homein Utah”is a weekly guide to the new-home construction market. Readers will find the most up-to-date information that both home builders and homebuyers can use. Information relating to the home building industry, either on a local or national level is wel- come. News or calendar events will also be considered for publication. “At Home in Utah ”is also looking for questions for its “Ask the Experts” column, as well as timely information for “News Briefs,” or a submission from working professionals for its “Guest Column.” Readers are encouraged to attach story-related photos/artwork with their submissions. “At Home in Utah” reserves the right to edit for clarity and Please submit your comments, suggestions, information and questions to the Newspaper Agency Corporation, “At Home in Utah,” 135 S. Main Street, Salt Lake City, UT 84111, or fax us at (801) 237-2519. The Quincy, lronwood’s 1,595 square-foot model home,Is ideal for kitchen enthusiasts becauseit offers extra cabinet space, an island work space, vaulted ceilings and a corner box window abovethesink. Perry Homes’ Ironwood OpensPhaseII As homebuyers await with anticipation, Perry Homes announces the pening of the second phaseofits Ironwood subdivision at 4700 South 5020 West in West Valley Murray Cove 5750 South 1220 West 964-0700 City. BENNION Current West Valley residents, as well as many other homebuyers looking to move into a larger home, have been asking about PhaseII for quite a while, says Bennion Cove 5260 South 2700 West 964-0700 Jeff Taylor, division manager for SOUTH JORDAN South Pointe 9700 South 2700 West 254-2929 SALT LAKE CITY West Pointe 900 N. Redwood Road 595-1500 treatmentfacilities. @ Storm water drainage and flood control facilities. © Municipal power supply facilities. @ Roadwayfacilities. © Parks. TheActalso requires that before imposing an impact fee for a capital improvement, counties, cities and towns must establish a Capital Improvements Plan to determine the proportionate amount the new developmentactually impacts the community, and therefore should be required to pay. Information that must be included in the Plan are costs,financing, credits, upgrades, usage and commitments, description of capital improvements, a definitive table establishing usage, total number of service units, projected demand,alternative funding sources and pay schedules. Local Realtors Support Development Fees Act space. MURRAY fee placed upon a new homebuyervaries according to the area in which the homeis built. As such, the same $90,000 home with a $10,000 impact fee attachedto it requires a $39,396 yearly income in order to qualify for a loan. Thatis an increase of almost $4000 a year. On a monthly basis, the mortgage paymentis approximately $952 at 9.5 percent interest. That is an increase of almost $100 a month. The purpose of the DevelopmentFees Actis to ensure that impact fees are used for their original purpose — to cover the actual costs of new development, Rudolphsaid. The Development Fees Act authorizes impact fees for the following capital improvements: © Watersupply, treatment anddistribution facilities. © Wastewater collection and nerttnseray MARKETEDBYoneaa — wasaToHreaLTycrovr 970-3000 a Perry Homes Eeener Homes From Homes from $98,000 $142,000 * Ironwood * Lincoln Estates 965-1507 22 4700'S. 5020 W. 9970'S. 2700 W. See yey ye 6290 S. 4195 W. fs * rea1ee7 ar 8350 S. 2700 W. 1291& 200 Ss, * Homes From $182,000 5sh7078 932 Mink Circle (off Eaglewood Drive) Homes — * The Model Home Hours: Weekdays 12:00-6:00 Saturdays 11:00-6:00 Ridg sraaoes Closed Sundays Perry Homes.“It’s interesting to see the large number of homebuyers who have purchased a home at Ironwood because they want to stay in the area, but are looking for a larger home,” adds Taylor. Homebuyerswill have a choice of ten different floor plans ranging in size from 1,200 square feet to 1,819 finished square feet plus a basement. The new phaseis a sloping project that will offer homeowners viewsof northeast downtown as well as the Holladay area. Ironwoodoffers two-story, multilevel and rambler style homes that appeal to individual homebuyers’ preferences for space distribution, privacy and convenience. Families of every size will find a plan suitable for their needs with homes ranging in size from two to four bedroomsand from one to two and one-half baths. The family-oriented homesat Ironwood will feature finished family rooms andlarge kitchens with convenient snack bars. “@ur homesare a great value tof day and an exceptional value tomorrow. Wetake pride in the developmentof our subdivisions by giving the customera quality home,” says Taylor. Perry Homesconcernsitself with the small details that add to the quality of the home, like using woodrailings on the staircases and in the dividing areas of the home. Even the floor joists are engineered for quiet walking. To maketheir homes unique from those of their neighbors, homebuyers haveavailable to them a variety of options including woodburningor gasfireplaces, bay windowsin addition to those included with their floorplan, three-car garages (two-car garagesare standard), swamp coolers and stucco exteriors. In addition to the standard carpet and linoleum flooring, which are available in a variety of colors, homebuyers mayoptfortile or hardwoodfloors. The neighborhood appealof Ironwood will be complemented with a park which will be developed on land that has been trans- fered by deed tothecity on behalf of Perry Homes. Ironwood provides easy access to the Bangerter highway, shopping areas and Hunter High School. Thirty seven lots will be developed at Ironwood. To get yourfirst choice, visit the subdivision this weekend. 4 |
