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Page 3 of 4 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org <br />FISCAL IMPACT <br />The adoption of this ordinance update and the associated template fee deferral agreement is not <br />expected to result in a direct fiscal impact to the General Fund. The ordinance update brings local <br />regulations into compliance with SB 937, which mandates streamlined permitting and fee deferral <br />processes for qualifying housing developments. <br />The template fee deferral agreement provides a standardized mechanism for developers to defer impact <br />fees until the issuance of a temporary certificate of occupancy or upon final inspection, whichever occurs <br />first. This deferred timing of revenue does not waive or reduce the total fees owed but may temporarily <br />affect the timing of fund availability for capital projects dependent upon Impact Fee revenue. <br />ENVIRONMENTAL REVIEW <br />These amendments are administrative in nature and serve to clarify and implement procedural <br />requirements. This activity is not a project under California Environmental Quality Act (CEQA) as defined <br />in CEQA Guidelines, section 15378, because it has no potential for resulting in either a direct or reasonably <br />foreseeable indirect physical change in the environment. <br />PUBLIC NOTICE <br />Public notification was achieved by posting the agenda, with the agenda items being listed, at least 72 <br />hours prior to the meeting. <br />ALTERNATIVES <br />The City Council may choose not to adopt the proposed ordinance update and the associated template <br />fee deferral agreement. In this case, the City would default to the requirements and procedures outlined <br />in SB 937 and, to the extent they do not conflict with SB 937, the requirements and procedures set forth <br />in Ordinance No. 2477. This alternative would forgo the opportunity to tailor implementation to Redwood <br />City’s administrative processes and development context and require the deferment of impact fees <br />without the City’s ability to use a deferral agreement. If the City was required to permit impact fee <br />deferrals without a deferral agreement, it would have less ability to enforce payment of the impact fees. <br />ATTACHMENTS <br />Attachment A – Ordinance <br />Attachment B – Development Fee Deferral Agreement and Notice of Lien with Power of Sale Template <br />6.L. - Page 3 of 20 <br />381