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ATTACHMENT 1 <br />or obtained in order to implement these improvements by expending fees <br />collected within the five-year expenditure period provided by Government <br />Code Section 66001(d). The Account Report provides additional detail <br />around how incomplete improvements are expected to be funded and <br />when. However, the date by which funding will be deposited to complete <br />financing of all incomplete improvements is unclear, due to the uncertainty <br />of complementary funding sources. For example, State and regional <br />budget restrictions have limited the availability of funding programs and <br />for competitive grants, there is no certainty as to whether the City would <br />receive them as a means to help fund the balance of improvement costs. <br />In addition, redevelopment tax increment funding is no longer available <br />due to the State’s dissolution of Redevelopment Agencies in California <br />(effective in early 2012). Thus, full financing of all incomplete <br />improvements is unlikely within five years, but is reasonably certain within <br />twenty years. <br /> <br />* * * <br /> <br /> <br />ATTY/RESO.3088/CC RESO TRAFFIC IMPACT MITIGATION FEE <br />REV: 05-19-15 VR <br />Page 5 of 5 <br />7.2.A. - Page 8