Developers in Lakewood could soon be required to pay an ‘impact fee’ for all new developments they build, if the ordinance passes the Township Committee. The ordinance, which already passed its first reading, would require builders to pay a percentage-based fee for each development built, in order to help cover the costs of the infrastructure affected by the project.
Deputy Mayor Steven Langert explained, that when developers build a development, the infrastructure in the area requires certain upgrades, which currently place a burden on the Township. With the new ordinance in place, the upgrades to the infrastructure would become the responsibility of the developer.
The second reading is expected to take place at the next Township Committee meeting. TLS.