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Annual and Five-Year Development Impact Fee Report <br />Fiscal Year Ending June 30, 2024 <br />City of Redwood City 32 <br />Transportation Impact Fee <br />The transportation impact fee is a one-time charge that the City charges on new <br />residential and nonresidential development to fund transportation system improvements <br />necessitated in whole or in part by new development within Redwood City. Improvements <br />include construction of capital improvements and traffic reduction measures. In addition <br />to the Citywide Transportation Impact Fee, the city has also collected fair share <br />contributions from projects with specific transportation impacts, which are included in the <br />transportation impact fee program. The impact fee program provides an equitable <br />method for allocating the cost of reasonable and necessary transportation improvements <br />between the public and private sector, in accordance with the intent and purpose of the <br />Transportation Impact Fee Ordinance as set forth in Redwood City Municipal Code Section <br />18.244. <br />The reasonable relationship between the Transportation Impact Fee and the purposes to <br />which the fee is charged is demonstrated in the Redwood City Traffic Impact Mitigation <br />Fee Study dated February 18, 2000 (2000 Study); the 2012 Redwood City Transportation <br />Impact Mitigation Fee Update, Project Descriptions and Cost Estimates (2012 Study); the <br />2023 Transportation Fee Nexus Study (2023 Study); the enabling Ordinance, and all <br />subsequent City resolutions, or Conditions of Approval. As specified in the Ordinance, new <br />land development generates traffic, necessitating the acquisition of rights-of-way, road <br />construction, road improvements, pedestrian, bicycle and transit improvements, and <br />traffic reduction measures in order to maintain approved levels of transportation service. <br />The fees established do not exceed new development’s fair share. <br />There is an unexpended balance in the Transportation Impact Fee Account, which is <br />expected to be used to fund intersection and traffic signal improvements, bike and <br />pedestrian circulation improvements, and other operational improvements. All identified <br />improvements are needed to mitigate the impacts of future development on the City’s <br />circulation network. Each project is listed below in Table 22. Information about the total <br />project cost, the estimated start year, and other funding sources are noted. <br />6.A. - Page 41 of 55 <br />46