Title
Adoption of Resolution Receiving and Filing the Fiscal Year 2018-19 Development Impact Fee (DIF) Report and Five-Year Report, Containing Both Development Impact Fees and Fees Otherwise Subject to Development Agreements, and Making Certain Findings as Required by Government Code Sections 66000 et seq. (Finance 2410)
Body
To: Honorable Mayor and Members of the City Council
EXECUTIVE SUMMARY
The purpose of this report is for the City Council to receive and accept the annual and five-year Development Impact Fee Report, containing both Development Impact Fees and fees otherwise subject to Development Agreements, prepared and filed in accordance with the California Government Code Sections 66000 et seq.
BACKGROUND
The California Government Code Section 66006 (b) requires local agencies with Development Impact Fees (DIF) to submit a report on the collection and use of these fees for public review within 180 days after the end of each fiscal year. The annual review must include the following information:
* A brief description of the fee;
* The amount of the fee;
* The beginning and ending balance of the account or fund;
* The amount of the fees collected and the interest earned;
* An identification of each public improvement on which fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of the public improvement that was funded with fees;
* An identification of an approximate date by which the 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;
* A description of each interfund transfer or loan made from the account or fund, including the public improvement on which the transferred or loaned fees will be expended, and, in the case of an interfund loan, the date on which the loan will be repaid, and the rate of interest that the account or fund will receive on the ...
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