AgdaPkt 2004-12-06 - Laserfiche WebLink

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- . A-Z With respect to requirement nine, no findings are required forthe transportation impact fee. Government Code Section 66001(d) does not require findings with respect to the unexpended portion of fees until the fifth fiscal year follovving first deposit, which will be reported next year for Fiscal Year 2004/2005 for the City's transportation impact fee account. The information needed for these required findings of the Account Report for Fiscal Year 2004/2005 will be developed as part of a Transportation Impact Fee Study Update, which staff will have prepared for submittal to Council in late Spring 2005. Copies of the Account Report for Fiscal Year 2003/2004 have been available to the public in the City Clerk's office since November 19, 2004. Briefly summarizing the overall account activity, from inception of the Transportation Impact Fee Ordinance through Fiscal Year 2003/2004, the City had collected $6,597,880 in fees, and had expended $809,876 on public improvements. The account balance at the end of the fiscal year was $6,803,476 (including interest income and investment gains/losses). Attachment "B" indicates the tentative plan for spending the accrued account balance over the next five years for projects on the currently adopted Traffic Impact Fee Projects list. � The majority of the available traffic fees in the account will be expended on the Blomquist Extension project, for which staff expects to proceed with right-of-way acquisition and grading of the approaches for this future bridge over Redwood Creek. Fiscal Impact None. This merely satisfies State reporting requirements for devetopment im ct fees. Richard K. Haygood Patterson Ed Everett Traffic Engineer ommunity Development Services Director City Manager Attachment ■ City of Redwood City Transportation Impact Fee Account Report • Capital Improvement Projects — Five-Year Program RKH:ss R/mydocuments/Tra�c Fee Ordinance/03-04 Tralfic Fee Account Sta// Report f � t f � -2- ,