AgdaPkt 2003-01-06 - Laserfiche WebLink

Browse Search

3.16 -4 Overview This report contains information on the City of Redwood City's transportation impact fees for the fiscal years beginning July 1, 2000 and ending June 30, 2001 (Fiscal Year 2000/2001), and beginning July 1, 2001 and ending June 30, 2002 (Fiscal Year 2001/2002). The information presented is to comply with the reporting requirements contained in Government Code sections 66000 et seq., "Fees for Development Projects," frequently identified as AB1600. Note that this Account Report is not a budget document, but rather is published to meet State reporting requirements. It is not intended to present a full picture of currently planned projects as it only reports revenues and expenditures for the subject fiscal years. The following information is provided for the transportation impact fee for Fiscal Years 2000/2001 and 2001/2002: • A brief description of the fee • The amount of the fee • The beginning fund balance of the fee account • The amount of fees collected • The amount of interest earned • The ending fund balance of the fee account • A list of each project on which the fee was expended The total expenditure amounts on each project from all funding sources The total expenditure amounts of each project funded from the fee The total percentage of the project that was funded with the fee ;3E srding whether any findings are required under subsection (d) of is 9mment Code section 66001, the first deposit into the City of Redwood City a ;portation impact fee account occurred in fiscal year 1999/2000. Because t e ubject subsection does not require findings until the fifth fiscal year following ti a rst deposit, no findings are required for the transportation impact fee at th!s me. Further, no refunds were required pursuant to subdivision (d), (e), or (f) of : sction 66001, and no inter -fund transfers or loans were made from the ac --c int, for which subdivision (g) of Section 66001 would require description. Government Code section 66006(b)(1)(F) requires the development impact fee Einar : „ial report to include, "identification of an approximate date by which construction of the public improvemert will commence if the local agency determines that sufficient funds have been collected to complete financing on an incorr alete public improvement....” In adopting this legislation, it would appear the legislature assumed that all impact fees collected from a development were earmarked for very specific capital improvement projects, and did not anticipate a more extensive system including flexible capital improvement programs and traffic reduction measures with varying timelines in large growing cities like Redwood City.