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Annual and Five-Year Development Impact Fee Report <br />Fiscal Year Ending June 30, 2024 <br />City of Redwood City 34 <br />Park Impact Fee <br />It is not required that the City make findings related to the Park Impact Fee because the Parks <br />Impact Fee Account has a negative balance as of the end of the fiscal year. However, the fee <br />program is expected to continue to generate revenue, and the Parks Impact Fee Program CIP <br />was recently updated and reflects the City’s current priorities for future capital projects. For <br />these reasons, the City is electing to make findings related to the Parks Impact Fee Account. <br />The purpose of the Parks Impact Fee is to augment recreational opportunities through the <br />improvement of parks, as defined in Section 18.257 of the City’s Municipal Code, in order <br />to compensate for increased demand for City facilities and services brought about by new <br />development and the associated increase in population. <br />In FY 2023-24, the City’s service standard was 2.75 acres of park area for every 1,000 <br />residents/resident-equivalents. The City established the proportionate use of and demand <br />for parks by residents and workers in the City. These established standards/needs and <br />metrics ensure a reasonable relationship between the land uses paying the fees and the <br />identified public facilities. The reasonable relationship between the Parks Impact Fee and <br />the purpose for which it is charged is demonstrated in the adopted Nexus Analysis for <br />Redwood City Park Fee Update (2022 Study). <br />Collected fees will be used for land acquisition for new parks (e.g., Downtown <br />Neighborhood and Mt. Carmel/ Eagle Hill/ Edgewood Neighborhoods) and the conversion <br />of traffic islands to pocket parks, as well as capacity-enhancing improvements to existing <br />parks and recreation centers, and synthetic turf projects. All identified improvements are <br />needed to mitigate the impacts of future development on the City’s park and recreation <br />network. Each project is listed below in Table 23. Information about the total project <br />cost, the estimated start year, and other funding sources are noted. <br />6.A. - Page 43 of 55 <br />48