Summary:
In October of 2012 the Orlando City Council adopted a code provision allowing for a reduction in Transportation Impact Fees for qualifying development sites, to reflect the lessened traffic impacts of a Transit Oriented Development (TOD).
The Developer for Crescent Central Station Apartments has submitted an application for review and approval as a designated TOD. The project consists of multi-family residential and retail uses, as identified in permit case BLD2014-00128, located at 480 N. Orange Avenue, in the City's North Transportation Benefit Area.
Based on the qualifying characteristics of the project, City staff shall support a 60% reduction to the Transportation Impact Fee assessment. The attached agreement outlines the qualifying criteria for the fee reduction. Following approval by the City Attorney's Office and the Orlando City Council, a reduced Transportation Impact Fee in the amount of $275,839.98 shall be due, prior to permit issuance.
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