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06/08/2015 <br /> (d) Identified transportation improvements are scheduled to be <br /> implemented over time as sufficient funds become available. Some, but <br /> not all, of the identified improvements (such as the Blomquist Road <br /> Extension) are of such size that sufficient funds have not been collected <br /> or obtained in order to implement these improvements by expending fees <br /> collected within the five-year expenditure period provided by Government <br /> Code Section 66001(d). The Account Report provides additional detail <br /> around how incomplete improvements are expected to be funded and <br /> when. However, the date by which funding will be deposited to complete <br /> financing of all incomplete improvements is unclear, due to the uncertainty <br /> of complementary funding sources. For example, State and regional <br /> budget restrictions have limited the availability of funding programs and <br /> for competitive grants, there is no certainty as to whether the City would <br /> receive them as a means to help fund the balance of improvement costs. <br /> In addition, redevelopment tax increment funding is no longer available <br /> due to the State's dissolution of Redevelopment Agencies in California <br /> (effective in early 2012). Thus, full financing of all incomplete <br /> improvements is unlikely within five years, but is reasonably certain within <br /> twenty years. <br /> * * * <br /> ATTY/RE50.3088/CC RESO TRAFFIC IMPACT MITIGATION FEE RESO.#15411 <br /> REV:05-19-15 VR MUFF#702 <br /> Page 5 of 5 <br />