AgdaPkt 2006-01-09 - Laserfiche WebLink

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7~A- 7' several years, but the timing and amount of that revenue is also uncertain. Thus, complete financing of all incomplete improvements is unlikely less than 10 years from now, but is reasonably certain within 15 years. No refunds were required pursuant to subsection (d), (e), or (f) of Government Code Section 66001. In addition to specific projects and locations, the City of Redwood City's capital improvement plan includes responsive transportation mitigation programs that cannot specify in advance a particular improvement or location with an established estimated construction date. Thus, part of the fee is applied toward a series of capital improvements and traffic reduction measures, such as crosswalk warning lights, traffic calming measures, shuttles, and other projects, which will be built or operated between now and the year 2020, but for which no specific dates of construction or implementation can be identified at this time. Because the City of Redwood City needs many transportation improvement projects that can adapt to evolving conditions caused by growth, a more flexible system of administration with a 20-year horizon is required. It is not possible for the City of Redwood City to state whether sufficient funds have been collected to complete financing, or to identify the dates of construction or implementation, for each transportation improvement to be funded by impact fees. However, the following ongoing programs, which are funded by transportation impact fees, have already constructed some improvements or conducted operations, sufficient funds have been collected to construct such improvements and/or operate such services for the next several years, and these programs continue to be included in the City's CIP: . Traffic Calming Program . ADA Ramp Program (sidewalk improvements) . Bus Shelter/Bus Stop Turnout/Transit Enhancements Program . Shuttle Bus Services The largest cost individual project in the capital improvement plan, by far, is the Blomquist Avenue Extension Project. When the capital improvement plan was formulated in year 2000, the total cost of the Blomquist Extension was estimated at approximately $7.1 million, with 50% of that cost, or approximately $3.55 million, designated for funding by the Transportation Impact Fee program. The source of the remaining 50% of funding for the extension project is contributions conditioned on future development located on the east side of US 101 to address emergency access issues and other circulation deficiencies. A major residential development that would have provided a substantial amount of developer funding was rejected by voters in 2004. The projected total cost for the Blomquist Extension is now roughly estimated at $10 million, requiring a transportation impact fee contribution of approximately $5 million. Although the total year-end balance in the Transportation Impact Fee account is $7.007 million and could be