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Annual and Five-Year Development Impact Fee Report <br />Fiscal Year Ending June 30, 2024 <br />City of Redwood City 10 <br />Park Impact Fees <br />In May 2022, the City Council adopted updated Parks Impact Fees supported by the Park Impact <br />Fee Nexus Study (2022). Updated residential Park Impact Fees were adopted under a phase-in <br />approach. Under this approach, the Parks Impact Fees for residential development would be set <br />at 50 percent of the nexus-based maximum rates supported by the Park Impact Fee Nexus <br />Study for 12 months starting on July 22, 2022, and then 100 percent of the maximum rates <br />supported thereafter. The fees in effect during the fiscal year ending June 30, 2024, are <br />presented below in Table 2. <br />Table 2 FY 2023-24 Parks Impact Fees <br />Ite m <br />Re side ntia l Use s <br />Single Family $47,414.00 per unit $47,414 per unit <br />Multi-Family $40,710.80 per unit $40,710.80 per unit <br />Bedroom Addition $18,323.56 per unit <br />ADU (over 750 sqft) <br />Non-Re si de nti a l Use s <br />Offic e $7.86 per sq/ft $7.86 per sq/ft <br />Commerc ial $5.40 per sq/ft $5.40 per sq/ft <br />Indus trial $2.54 per sq/ft $2.54 per sq/ft <br />Hotels $3,325.76 per hot el room $3,325.76 per hotel room <br />July 1, 2023 - April 1, 2024 April 2, 2024 - June 30, 2024 <br />Not Applic able <br />Not Applic ableADU Siz e / Primary Dwelling <br />Unit X S FH Rate <br />6.A. - Page 19 of 55 <br />24