More Great News on TUMF Reductions

Your Riverside BIA Government Affairs team is always eager to share good news when it comes to housing opportunities and homebuilding.

That's why we are very pleased to report that the Riverside County Board of Supervisors, Riverside City Council, Eastvale City Council and Perris City Council have all voted unanimously to extend temporary 50% TUMF reductions in their jurisdictions through 2012. The new City of Jurupa Valley also has a 50% reduction in place.

These votes were made possible due to recent action by the Western Riverside Council of Governments (WRCOG) Executive Committee, which approved an extension of the temporary 50% TUMF reduction opportunity for 2012, allowing WRCOG jurisdictions to decide whether or not to adopt the reduction for 2012.

Keep in mind that because TUMF reduction ordinances require two public readings, some jurisdictions will have a short time period where full TUMF rates will be collected. Please contact your Government Affairs team to get these dates for your area.

The Riverside BIA Government Affairs team will continue to solicit support for the 50% reduction in other jurisdictions and look forward to reporting continued good news!

Riverside Votes to Continue TUMF Reduction

We've got some good news this week!

The Riverside City Council voted 7–0 earlier this week to continue the 50% TUMF Reduction through December 31, 2012 or until the $20 million dollar aggregate cap in uncollected TUMF Revenues has been reached.   

The Council waived further readings of this measure and will therefore allow for a seamless extension of the 50% reduction.   

If you have any questions, please contact Bill Blankenship.

Riverside County cities could keep impact fee discounts

There's a great story in today's Press-Enterprise about the positive impact fee reductions have had on spurring development (and economic recovery) in the Inland Empire. The news is so good, in fact, that many councils and boards are looking to extend fee reductions set to expire this December.

Our own Riverside County Chapter CEO Mark Knorringa is quoted in the article commenting on how builders have used reductions to help keep projects going:

They have said specifically there were some projects they built when they did because of the fee reduction.

The article includes an interesting city-by-city comparison of permits issued during the first eight months of 2009 vs. the first eight months of 2010.

Read the full article

Photo credit: twoGiraffe