Land Use & ZoningIntermediateNorth Carolina Exam
An 'impact fee' in NC is charged to developers to:
AFund the developer's marketing costs
BCover the cost of public infrastructure improvements needed to serve new developmentCorrect
CCompensate existing residents for the inconvenience of new construction, in most cases
DPay for environmental cleanup of the development site
Why Cover the cost of public infrastructure improvements needed to serve new development Is Correct
Answer B: Cover the cost of public infrastructure improvements needed to serve new development
Impact fees are charged to new development to help pay for the cost of expanding or improving public infrastructure (roads, schools, water, sewer) necessitated by that development.
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Key Terms to Know
Closing Costs
Fees and expenses paid by the buyer and/or seller at the closing of a real estate transaction, in addition to the property's purchase price.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
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