AgdaPkt 2025.01.13 Joint SA PFA - Laserfiche WebLink

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Page 6 of 7 City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org 5. An identification of each public improvement on which fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of the public improvement that was funded with fees 6. An identification of an approximate date by which the construction of the public improvement will commence if the local agency determines that sufficient funds have been collected to complete financing on an incomplete public improvement and the public improvement remains incomplete 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. EQUITY IMPACT STATEMENT The Development Impact Fees Report funds work across multiple City departments to advance equitable outcomes in Redwood City. Since 2021, each department has identified a specific equity commitment within its departmental goals, which may be found in each department’s section of the Adopted Budget. FISCAL IMPACT There is no fiscal impact associated with accepting the Development Impact Fees Report or making the findings as required by State law. That said, you will note on page 17 of the Development Impact Fees Report that the Park Impact Fee account shows a negative $4,070,865 position. There were a number of parks project investments over the last couple of years that relied on park impact fees that have not yet materialized from a number of key projects. To address this negative balance, staff will develop a proposal for a short-term interfund loan from the General Fund to the Park Impact Fee account for City Council consideration in the coming months. Under the proposal, as Park Impact Fees materialize, the City would pay off the interfund loan. ENVIRONMENTAL REVIEW The review and acceptance of the Development Impact Fees Report is not a project under California Environmental Quality Act (CEQA) as defined in CEQA Guidelines, section 15378, because it has no potential for resulting in either a direct or reasonably foreseeable indirect physical change in the environment. 6.A. - Page 6 of 55 11