Innsbrook Reimagined Development Fee Structure
As we enter a new era for development within the Innsbrook Corporate Center we face increased costs in operation and capital investment within our complex. With increased density comes increased use of our infrastructure including our lake system. To be prepared for these future uses, The Innsbrook Owners Association adopted a New Urbanization and Development fee schedule as of May 24. 2017. These fees apply to all new development that occurs within the complex on any re-zoned land. These fees would not apply to any development on property whose zoning is not being altered.
The fee schedule is as follows:
All new office, retail, residential, or hospitality development will be assessed a one time fee of one dollar ($1.00) per square foot of Construction Gross Building Area, as defined by ANSI/BOMA Z65.3-2009, excluding structured parking. All new structured parking will be assessed a one time fee of $75 per structured parking space. One half of the assessed fee will be due and payable within thirty days of commencement of physical work on the site and the second half will be due and payable prior to issuance of a Certificate of Occupancy by the County of Henrico. Please refer to the Second Amendment for a full explanation of the Development Fee Structure and approved plan. Listed with the Innsbrook Protective Covenants
