The Spokane City Council is having second thoughts about its new impact fees that will add over $25,000 to the price of a new home, and over $100,000 to the cost of a new fourplex.
"This is a devastating blow to home ownership and rental rates” said Spokane REALTORS® President Tom Hormel.
Spokane developers and housing builders say they will be shutting down more than 2,000 construction projects across the region in response to City Council's 10-fold increase in Impact Fees.
On March 27th, the council will reconsider these fees.