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6.F. - Page 3 of 31 4. Designate the approximate dates on which the funding is expected to be deposited into the appropriate account or fund. To ensure consistency and regularity, staff provides the findings basis in an annual Development Impact Fees Report (Attachment A) and the City Council then formalizes the findings through resolution (Attachment B). In addition, pursuant to the California Government Code, local agencies must make information related to impact fees available to the public. The City makes this information available annually. This year's report was made available to the public online and in the City Clerk's office beginning December 21, 2018 and public notice was provided through the City's website. Additionally, notice was mailed to all interested parties as required by the California Government Code. City staff has compiled this information relating to impact fees in Attachment A, the Development Impact Fees Report, which responds to the following Government Code requirements: 1. A brief description of the type of fee in the account or fund 2. The amount of the fee 3. The beginning and ending balance of the account or fund 4. The amount of the fees collected and the interest earned 5. An identification of each public improvement on which fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of the public improvement that was funded with fees 6. An identification of an approximate date by which the 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 7. A description of each interfund transfer or loan made from the account or fund, including the public improvement on which the transferred or loaned fees will be expended, and, in the case of an interfund loan, the date on which the loan will be repaid, and the rate of interest that the account or fund will receive on the loan 8. The amount of refunds made pursuant to subdivision (e) of Section 66001 and any allocations pursuant to subdivision (f) of Section 66001. Development Impact Fee Summary As noted above, the City assesses three impact fees for transportation improvements, park improvements or dedications, and affordable housing. Projects to address these needs typically are funded jointly by impact fees and public and private sources such as federal and state grants or private donations or contributions. Examples of the proportion of project/program expenditures funded by impact fees follows descriptions for each fee. The impact fees collected from a single development project are often not enough to pay for the cost of individual City programs or improvements. In these cases, fees are collected from development projects until there is sufficient funding for the project. Fees can be assessed for tenant improvements or entirely new developments, and credits towards fees are often given for reasons identified during fee adoption such as existing uses or affordable housing. In City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore 303