Title
Recommendation to Accept the Development Impact Fee (DIF) and Fleet Industrial Supply Center (FISC)/Catellus Traffic Fee Report. (Finance 10024051)
Body
To: Honorable Mayor and Members of the City Council
EXECUTIVE SUMMARY
Local agencies are required to report annually on the collection and use of Development Impact Fees (DIF). For Fiscal Year (FY) 2021-22, the combined beginning balance of the DIF Funds (305, 306, 307, 308, and 309) was $9,056,295. During the fiscal year, $32,700 of DIF fees were collected. The funds lost $143,522 in investments. Expenditures of $425,360 were incurred for eligible transportation projects. The ending balance in the DIF Funds as of June 30, 2022, was $8,520,113.
The FISC/Catellus Development was approved prior to the adoption of the DIF and, therefore, is not required to pay DIF. However, payment of a Traffic Fee (TF) is required as part of the development's traffic mitigation measures. For FY 2021-22, the beginning balance of the TF account was $194,426. During the fiscal year, $990 was lost in investments. There were no expenditures made during the fiscal year. The ending balance in the TF account is $194,426.
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...
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