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4.16-1 <br />January 6, 2003 <br />Subject <br />Transportation Impact Fee Account Report <br />Recommendation <br />Review and file the Transportation Impact Fee Account Report for Fiscal Years 2000/2001 <br />and 2001/2002. <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 report <br />must include: <br />1. A brief description of the type of fee in the account; <br />2. The amount of the fee; <br />3. The beginning and ending balance of the account for the fiscal year; <br />4. The amount of fees collected; <br />5. The amount of interest earned; <br />6. Identification of each public improvement for which fees from the account were <br />expended, the amount of expenditures on each improvement and an <br />identification of the percentage of the cost of the improvement that was funded <br />With impact fees; <br />7. Identification of an approximate date by which construction of the public <br />improvement will commence if the local agency determines that sufficient funds <br />have been collected to complete financing on an incomplete public <br />improvement and the public improvement remains incomplete; <br />8. Description of each inter -fund transfer or loan made from the account, including <br />the public improvement for which the transferred or loaned fees will be <br />expended; <br />9. Findings, if fees remain unexpended or uncommitted five years after collected; <br />and <br />10. The amount of any refunds made pursuant to statute. <br />These reporting requirements are addressed in the overview and body of the City of <br />Redwood City Transportation Impact Fee Account Report ( "Account Report"), which is <br />appended as Attachment A. Regarding requirement seven, the overview section of the <br />report identifies an approximate date by which construction will commence on several <br />projects for which sufficient funds have been collected to complete financing. The report <br />also identifies several ongoing programs that have already constructed improvements or <br />-1- <br />