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Annual and Five-Year Development Impact Fee Report <br />Fiscal Year Ending June 30, 2024 <br />City of Redwood City 5 <br />ANNUAL REPORT <br />Description of Impact Fee Programs <br />66006(b)(1)(A) and 66013(d)(1) <br />The City has three development impact fee programs. Per City policy, the Parks Impact Fee and <br />Affordable Housing Impact Fee are charged to new residential and nonresidential developments <br />that meet certain criteria, while the Transportation Impact Fee is charged to all new <br />development. <br />1. Transportation Impact Fee.4 The transportation impact fee is a one-time charge that <br />the City charges on new residential and nonresidential development to fund a <br />proportionate share of the cost of transportation improvement projects and <br />transportation system improvements necessary to mitigate the transportation impacts of <br />new development within Redwood City. Improvements include construction of traffic and <br />multi-modal transportation improvements and traffic reduction measures. In addition to <br />the Citywide Transportation Impact Fee, the City has also collected fair share <br />contributions from projects with specific transportation impacts to fund specific <br />transportation improvements, the full costs of which were not included in the 2012 <br />Transportation Impact Fee program. Since the full costs of the fair share impact fee <br />projects will be included in the 2025 Transportation Impact Fee Program, the revenue <br />from the fair share fees have been incorporated into the Transportation Impact Fee <br />account, which will be used to fund the fair share impact fee projects. The Program <br />provides an equitable method for allocating the cost of reasonable and necessary <br />transportation improvements between the public and private sector, in accordance with <br />the intent and purpose of the Transportation Impact Fee Ordinance as set forth in <br />Redwood City Municipal Code Section 18.244. <br />2. Park Impact Fee.5 The Park Impact Fee is a one-time charge that the City charges on <br />new residential and non-residential development to fund the installation, acquisition, <br />construction, and improvement of park improvements listed in the Park Impact Fee <br />Project List, including the acquisition of land necessary for such improvements. The <br />purpose is to augment recreational opportunities through the improvement of the City’s <br />parks system to compensate for increased demand for City parks brought about by new <br />development and the associated increase in population. <br />3. Affordable Housing Impact Fee.6 The Affordable Housing Impact Fee is a one-time <br />charge that the City charges on new non-residential development with more than five <br />thousand (5,000) square feet of net new construction or residential development projects <br />4 https://library.municode.com/ca/redwood_city/codes/city_code?nodeId=CH18LOIMPL_ARTXVTRIMFE <br />5 https://library.municode.com/ca/redwood_city/codes/city_code?nodeId=CH18LOIMPL_ARTXVIPAIMFE <br />6 https://library.municode.com/ca/redwood_city/codes/zoning_code?nodeId=ART29REAFHO_29.5PAHOIMFE <br />6.A. - Page 14 of 55 <br />19