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6.B. - Page 4 of 29 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/private sources such as federal and state grants or private 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 fund 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, whether from developments or other sources. Fees can be assessed for tenant improvements or entirely new developments. Credits towards fees are often given for reasons identified during fee adoption. An example of a credit is when it is made for an existing use or if a property had existing affordable housing. In other circumstances, certain types of developments are not required to pay impact fees. For example, new non-residential development projects are not currently required to pay Park Impact Fees, although this is being studied and will be considered by the City Council in the future. Transportation Impact Fee Funds collected in FY 2018-19: $ 471,452 Balance: $9,464,994 The Transportation Mitigation Impact Fee, which is also known as the Transportation Impact Fee, was adopted by ordinance on April 24, 2000, adding Article XV (commencing with section 18.244) to Chapter 18 of the Municipal Code. These fees fund construction of capital facilities and traffic reduction measures to mitigate the impact of increased traffic resulting from new residential and non-residential development. Transportation impact fees ensure that new development projects, if they increase traffic, bear a proportionate share of the cost of facilities and improvements designed to reduce the additional traffic resulting from the development. Examples of projects funded in part by the Transportation Impact Fee include: Page 4 of 6 ..A . City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore q1