Incentives to build in downtown Auburn just got sweeter
Developers looking to invest and build in South Puget Sound just received another good reason to choose downtown Auburn. Several incentives are in place that make building in Auburn favorable, but the City Council recently sweetened the pot to entice developers even more.
The Council reduced Auburn’s Park Impact Fees by 75-percent bringing down the cost per unit from $3,500 to $875. Planning, engineering and building impact fees are also reduced by 75-percent. The only caveat is that the project must be located in the downtown core and must be approved by Dec. 31, 2013.
"We have the land available in downtown that's ready for residential, retail or office development," said Mayor Pete Lewis. "And we’ve already done a lot of the work, like completing the Environmental Impact Statement and building stormwater infrastructure that will offset future storm fees."
Other incentives offered by the city include waiver of traffic impact fees, construction sales tax refunds and deferral of utility system development charges and school and fire impact fees to the end of the project rather than collecting them up front.
"We believe that these incentives will spur developers to choose downtown Auburn and that their investments will not only be good for business, but will also revitalize the city and realize future property and sales tax revenues benefiting all of our citizens," said Lewis.
There are 32 parcels available in the downtown core that are eligible for reduced Park Impact Fees. Only projects that have received all necessary and required development approvals by the city between now and Dec. 31, 2013 would be eligible for the reduced fees.
View map of the 32 parcels