Title
Adopt a Resolution to Accept the Annual Report on Receipt and Use of Development Impact Fees for the Year Ended June 30, 2023
Staffreport
COUNCIL PRIORITY
* Infrastructure
* Fiscal Sustainability and Transparency
* Community & Business Development
SUMMARY AND RECOMMENDATION
Staff recommends City Council approve a resolution accepting the Annual Report on Receipt and Use of Development Impact Fees for the year ended June 30, 2023.
BACKGROUND
The legal requirements for enacting development impact fees are set forth in Government Code ?66000-66025 (Mitigation Fee Act) and are commonly referred to as AB 1600 and SB 1693 requirements. These fees are generally intended to mitigate cost impacts that development projects have on existing City infrastructure and facilities.
The Annual Report must be reviewed by the City Council at a regularly scheduled public meeting. Notice of the time and place of the meeting shall be mailed at least 15 days prior to the meeting to any interested party having filed a written request with the City. No such request was made at the time of this report.
DISCUSSION
The Government Code requires an annual accounting of all development fees to be made available at the close of the fiscal year. The Annual Report attached to the accompanying City Council resolution presents the revenues, expenditures, and fund balance for the City development fees. Two City fees are subject to AB 1600 requirements-Development Fee for Street Improvement (DFSI) and the Park Facilities Development Impact Fee. The attached report includes revenues collected and project costs incurred from July 1, 2019, to June 30, 2023.
Developer fees are segregated from the General Fund and from other funds and accounts containing fees for other purposes in accordance with accounting standards. Interest earned on each fee is deposited into the fund or account and used only for the purposes of the fee.
DFSIs are deposited into the Street/Traffic Improvem...
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