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<br />7ZA-¿ <br /> <br />impacts of development; b) the Study identified the required <br />transportation improvements to mitigate impacts caused by new <br />development within the City for a 20-year period; c) development <br />creates demand for additional transportation improvements; d) the <br />fee shall be used for transportation improvements that will <br />reasonably benefit new development in the City and reduce the <br />traffic congestion and other adverse effects of increased traffic <br />volumes caused by new development; e) the fee shall be used for <br />transportation improvements that are, and shall be, specified in the <br />Study and its periodic updates; and, f) the fees imposed on <br />development are based on evidence provided by transportation <br />studies and research on the volumes of traffic generated by various <br />land use types, which are used to measure the traffic impacts of <br />new development, and the resulting fees for various land uses are <br />presented in an Impact Fee Schedule (included in this report). This <br />reasonable relationship remains between the current need for said <br />fee and the purpose for which it Was originally collected. <br />3. The City has established a separate fund to account for fees to <br />finance the implementation of transportation improvements as <br />mitigation measures for continued development within the city, as <br />documented in the financial account statements included in this <br />report. The City annually adopts a comprehensive Capital <br />Improvement Program (CIP) to prioritize identified transportation <br />improvements and allocates funds to implement the improvements <br />as mitigation measures for continued development in the city. <br />Transportation Impact Fees collected previously and in the future <br />are necessary to fund identified transportation improvements. <br />Direct developer contributions to some improvements, as well as <br />State and regional grants and funding programs, redevelopment tax <br />increment revenue, and other funds under City control are <br />anticipated sources of funding to complete financing of incomplete <br />improvements. <br />4. Identified transportation improvements are scheduled to be <br />implemented over time as sufficient funds become available. Some <br />of these identified improvements are of such size that sufficient <br />funds have not been collected or obtained in order to implement <br />these improvements by expending fees collected within the five- <br />year expenditure period. A date that funding will be deposited to <br />complete financing of all incomplete improvements is uncertain, <br />because current economic conditions have slowed the rate of new <br />development and the corresponding collection of the fees and <br />direct developer contributions to some improvements. In addition, <br />State and regional budget restrictions have limited the availability of <br />outside grants and programs to help fund the balance of <br />improvement costs. Redevelopment tax increment funding <br />availability is expected to increase significantly over the next <br />