AgdaPkt 2004-12-06 - Laserfiche WebLink

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\�/ • r \ 1 • 1 � Overview This report contains information on the City of Redwood City's transportation impact fees for the fiscal year beginning .July 1, 2003 and ending June 30, 2004 (Fiscal Year 2003/2004). The information presented is to comply with the reporting requirements contained in Government Code sections 66000 et seq., „ Fees for Development Projects," frequently identified as A61600. Note that this Account Report is not a budget document, buf rather is published to meet State reporting requiremenfs. It is not intended fo present a full picfure of currently planned projects as it only reports revenues and expenditures for the subject frscal years. The following information is provided for the transportation impact fee for Fiscal Year 2003/2004: • A brief description of the fee • The amount of the fee • The beginning fund balance of the fee account • The amount of fees collected � • The amount of interest eamed • The ending fund balance of the fee account • A list of each project on which the fee was expended • The total expenditure amounts on each project from all funding sources • The total expenditure amounts of each project funded from the fee • The total percentage of the project that was funded with the fee Regarding whether any findings are required under subsection (d) of Government Code section 66001, the frst deposit into the City of Redwood City transportation impact fee account occurred late in fiscal year 1999/2000. Because the subject subsection does not require findings until the fifth fiscal year followinq the first deposit, no findings are required for the transportation impact fee at this time. Further, no refunds were required pursuant to subsection (d), (e), or (� of Section 66001. Government Code section 66006(b)(1)(F) requires the development impact fee financial report to include, "identification of an approximate date by which construction of the public improvement will commence if the local agency determines that sufficient funds have been collected to complete financing on an incomplete public improvement...." In adopting this legislation, it would appear the legislature assumed that all impact fees collected from a development were earmarked for very specific capital improvement projects, and did not anticipate a more extensive system including flexible capital improvement programs and traffic reduction measures with varying timelines in large growing cities like Redwood City.