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<br />6.1H <br />Page 1 <br /> <br />REPORT <br /> <br />To the Honorable Mayor and City Council <br />From-the City Manager <br /> <br />January 8, 2007 <br /> <br />4 Subject <br />Transportation Impact Fee Account Report for Fiscal Year 2005/2006 <br /> <br />Recommendation <br />Review and file the Transportation Impact Fee Account Report for FiscafYear 2005/2006. <br /> <br />Background <br />The Mitigation Fee Act enacted in the California Government Code (Sections 66000, et <br />seq.) establishes requirements for reporting of receipt and expenditure of development <br />impact fees, which includes Redwood City's Transportation Impact Fee. The account <br />report must include: <br /> <br />.- 1.. A brief description of the type of fee in the account; <br /> <br />2. The amount of the fee; <br /> <br />3. The beginning and ending balance of the account for the fiscal year; <br /> <br />4. The amount of fees collected; <br /> <br />.. <br />5. The amount of interest earned; <br /> <br />6. Identification of each public improvement for which fees from the account were <br />expended, the amm.mt of expenditures on each improvement and an identification <br />of the percentage of the cost of the improvement that was funded with impact <br />fees; <br /> <br />7. Identification of an approximate date' by which construction of the public <br />improvement will commence if the local agency determines that suffjcient funds <br />have been collected to complete financing on an incomplete public improvement <br />and the public improvement remains incomplete; <br /> <br />8. Description of each inter-fund transfer or loan made from the account, including <br />the public improvem~nt for which thetransferredor loaned fees win.be expended; <br /> <br />9. Findings, if fees remain unexpended or uncommitted five years after the first <br />deposit into the account, and every five years thereafter; and <br /> <br />10. The amount of any refunds made pursuant to statute. <br /> <br />Page 1 of 3 <br />