Village officials in New Lenox gave preliminary approval Tuesday night to a series of ordinances that would hike the cost of growth for developers.
The proposal are aimed at continuing the village’s policy of making growth pay for itself.
One of them would raise the land value used to determine a developer’s land exaction fee to $58,560 from $52,500. The figure is used to calculate the amount of cash or land a developer must provide to help village agencies, such as parks, schools and libraries, meet the cost of serving extra residents.
Village officials say the land value estimate is in line with local land values.
Other measures would raise the water-connection charges and fee for processing land annexation requests. A water-connection fee of $2,000 is proposed for single-family homes, and annexation fees would be set according to the size of the parcel, starting with $150 an acre for less than 3 acres.
Patrick McSteen, a spokesman for the Will-Grundy Homebuilders Association, said, “The ordinances will add $3,000 to $8,000 to the cost of a home, depending on what you build. The new home buyer is the one that gets punished when all the prices go up.”
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