Plan for TID questioned in Ridgewood
Tuesday August 13, 2013, 9:40 AM
STAFF WRITER
The Ridgewood News
A series of questions and uncertainty regarding costs and the historic use of transportation improvement districts throughout New Jersey has prompted the Ridgewood Planning Board to ease off on an idea that several members once considered innovative and progressive.
Known as a TID, the designation essentially allows a municipality to collect money from prospective developers to fund future infrastructure projects such as upgrades to traffic signals and improvements to crosswalks. The amount of money that a developer pays into a TID account is established by the town and is contingent upon the scope of the proposed development.
The funding is typically banked until money is required for the community’s road projects.
John Jahr, a traffic consultant retained by the village last year, previously described a TID as a useful tool for both the town and the developer. The TID grants authority to a municipality to charge for any road improvements needed to offset the impact of potential development, while it gives developers a clear idea of their obligations rather than propose ornate traffic fixes.
Some communities have based their rates according to the square footage of a development, while others might use a formula factoring in the number of dwelling units. Other towns with TIDs consider traffic impact.
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