From the Village of Lakewood:

The Village of Lakewood Approves One Year Suspension of Impact and Water/Sewer Tap On Fees for New Single Family Homes

Lakewood, IL — Under the leadership of President Phil Stephan, the Lakewood Village Board approved Ordinance 2019-(17) suspending impact and water/sewer tap on fees for single family residential permits issued after May 14, 2019 and prior to May 14, 2020.

Impact fees are imposed by a local government on new or proposed development to help defray the costs of providing public services to the new development.

They are considered to be a charge on new development to help fund and pay for the construction or needed expansion of offsite capital improvements such as parks, schools, roads, sewer and water treatment utilities to the newly developed areas.

The Village of Lakewood tracks 147 vacant lots; most of which are located in residential subdivisions.

The “bricks and mortar” capital improvements have already been contemplated for these lots and therefore there is minimal impact associated with a one year suspension of fees.

“This is a win-win for the Village as well as local builders who have been asking for relief.

“Builders are paying an average of $25,000 for a new residential building permit, most of which is applied to the Lakewood Utility Capital Fund reserves.

“This economic incentive will help deplete the lot inventory and bring new families to Lakewood.” stated President Stephan.

For more information on how to apply for a no impact fee single family residential building permit, please contact the Village of Lakewood at 815-459-3025 or online at www.village.lakewood.il.us. Please note that inspection fees still apply.

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As far as abolishing impact fees for the Crytstal Lake Park Disrict, Lakewood follows in the footsteps of the City of Crystal Lake.