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8.F. - Page 5 <br /> II. Parks Director's Annual Parks Impact Fee Report. <br /> Although the Parks Impact Fee Ordinance was adopted in October 2007, the Parks <br /> Impact Fee fund did not receive any money until FY2011-2012. The attached chart <br /> shows that the fund received $913,776 in FY2011-2012 and $6,504,029 in FY2012- <br /> 2013. <br /> 358 Park Impact Fees <br /> 2007-2008 2008-2009 2009-2010 2010-2011 2011-2012 2012-2013 Totals <br /> 31417-Fee $ - $ - $ - $ - $ 913,776.50 $ 6,504,029.00 $ 7,417,805.50 <br /> 33601-Interest $ - $ - $ - $ - $ 4,375.98 $ 11,494.93 $ 15,870.91 <br /> Moreover, because the fund did not begin to receive any money until FY2011-2012, the <br /> PRCS Commission and staff has not previously sought to commit and encumber any <br /> funds through Council until this current request. As shown above, staff estimates that it <br /> will cost approximately $250,000 to complete the Main Street Dog Park Project and <br /> $350,000 to complete the Linden Park Restoration Project. Moreover, the community <br /> meetings have demonstrated that there is a continuing need to fund and complete these <br /> projects, and that there is a reasonable relationship between this need and the basis for <br /> the funding and park improvements. <br /> Accordingly, the Parks Director, as Administrator for the Parks Impact Fee Fund under <br /> RCMC 18.257 and 18.260, hereby requests that the Council approve and accept this <br /> annual report. If Council approves the funding requests, the Parks Director will report <br /> back on the progress of these projects as they move forward. <br /> ALTERNATIVES <br /> The Council could decide not to approve PRCS Commission and Parks staff <br /> recommendation to commit and encumber Parks Impact Fee funds for new park <br /> amenities and improvements, or to accept the Parks Director's annual report, which <br /> would lead to unmet community park needs and possibly non-compliance with RCMC <br /> 18.260. <br /> FISCAL IMPACT <br /> Park Impact Fees received are placed in the Parks Impacts Fee Fund, a special Capital <br /> Improvement Program (CIP) fund maintained as required by California Government <br /> Code section 66006. The collection of park impact fees does not prevent Council from <br /> using other CIP monies to purchase park lands. <br /> ENVIRONMENTAL REVIEW <br /> As the lead agency, the City of Redwood City has determined that the commitment of <br /> Park Impact Fee funds, as requested above, meets the California Environmental Quality <br />