Title
Recommendation to Accept the Development Impact Fee (DIF) and Fleet Industrial Supply Center (FISC)/Catellus Traffic Fee Report. (Finance 2410)
Body
To: Honorable Mayor and Members of the City Council
EXECUTIVE SUMMARY
Accept the Development Impact Fee and Fleet Industrial Supply Center (FISC)/Catellus Traffic Fee Report filed in accordance with the California Government Code Section 66006.
BACKGROUND
The California Government Code Section 66006 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 loan; and
* The amount of unexpended revenues refunded.
DISCUSSION
The Public Works Department oversees the administration of two development impact fees: the Development Impact Fee (DIF) and the FISC/Catellus Traffic Fee (TF).
Development Impact Fee (Fund 340.xx)
Description - The Development Impact Fees we...
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