New Neighborhood in Stillwater - New Lots Available

Last night at the Stillwater City council meeting, a final plat was approved by the council, very exciting for me and for many local builders and subcontractors hoping to get some homes under way soon. 

With that said, I have to think about the costs associated with these new lots, and if the families in the area, or hoping to move to the area will be able to afford the homes.

As the approval was voted on, here is a breakdown of fees that will go into the City of Stillwater's coffers:
Fee 1: Trout Stream mitigation Fee $60,126.00
Fee 2: Trunk water & Sewer Fee: $81,525
Fee 3: Transportation Fee: $102,960
Fee 4: Park & Trail Fee: $37,500

When you add those up it equals over $282,000. The fees represent an amount almost 50% of the land cost, and nearly equalling the cost of streets and water and sewer.

While it is clear many of the fees have been apart of development for years, the level and cost of those fees has hit a breaking point. As citizens we need to keep aware of what our elected officials are up to, and keep tabs not only on budgets, but fees that are a large driver of costs of living in a community. 

In this case, the cost of buying a lot in Stillwater has been increased by $18,000 to each and every new home built. That amount represents nearly 17% of a retail value of a lot. A "tax" in effect of 17% on any items seems to be onerous. this does not include the additional charges, permits and other fees that will be generated with this new neighborhood. 

I hope for all that we can keep the charges and fees in line so that the costs do not exceed our ability to pay for them.