SECTION 1. The City of Chelsea may, by Ordinance, require the payment of linkage fees from the developer of any commercial or industrial project, any mixed-use project with a commercial or industrial component, and any residential project that creates any residential units, provided that the linkage fees for such project are dedicated to the Community Impact Linkage Fee Fund described in Section 2 below.
SECTION 2. The City of Chelsea may establish a separate fund to be known as the Community Impact Linkage Fee Fund, which shall be kept separate and apart from all other monies of the City by the City Treasurer and into which shall be deposited linkage fees received by the City pursuant to Section 1 above. The funds in this Community Impact Linkage Fee Fund may be expended by the City upon recommendation from the City Manager and majority vote of the City Council, but solely for the creation or maintenance of affordable housing, the support of social services within the City, workforce development, job creation and education, youth recreational activities and, provided they appear in an annual Five Year Capital Improvement Plan approved by the City Council, public space enhancements, traffic and transportation improvements and capital construction projects.
This act shall take effect upon passage.
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