impact fee

Definition

Private developers pay this fee to the city for permission to start a project. The money helps the city build infrastructure, such as sewers, for the new development.

Use impact fee in a sentence

You should always remember that there may be an impact fee and will need to factor that in to your budget.

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After going through all the red tape and paying the impact fee, we were finally ready to break ground on the building project.

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When my company wanted to build a new factory in town, the municipal government agreed on the condition that we pay an impact fee so it could build infrastructure.

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