AgdaPkt 2006-01-09 - Laserfiche WebLink

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:?',¿'A-/ T To the Honorable Mayor and City Council From the City Manager January 9,2006 Subject Transportation Impact Fee Account Report for Fiscal Year 2004/2005 Recommendation Adopt a resolution approving the Transportation Impact Fee Account Report for Fiscal Year 2004/2005, and making the findings required by the Mitigation Fee Act. Background The Mitigation Fee Act enacted in the California Government Code (Sections 66000, et seq.) establishes requirements for reporting of receipt and expenditure of development impact fees, which includes Redwood City's Transportation Impact Fee. The account report must include: 1. A brief description of the type of fee in the account; 2. The amount of the fee; 3. The beginning and ending balance of the account for the fiscal year; 4. The amount of fees collected; 5. The amount of interest earned; 6. Identification of each public improvement for which fees from the account were expended, the amount of expenditures on each improvement and an identification of the percentage of the cost of the improvement that was funded with impact fees; 7. Identification of an approximate date by which construction of the public improvement will commence if the local agency determines that sufficient funds have been collected to complete financing on an incomplete public improvement and the public improvement remains incomplete; 8. Description of each inter-fund transfer or loan made from the account, including the public improvement for which the transferred or loaned fees will be expended; 9. Findings, if fees remain unexpended or uncommitted five years after collected; and 10. The amount of any refunds made pursuant to statute. Page 1 of 3