RES 94083 - Laserfiche WebLink

will not occur until a funding source has been secured. A more detailed discussion on the North Pleasanton Community Park occurs later in this memorandum. Also, as highlighted in the footnotes of the Park's Projects financial tables, the Ruby Hill's project is expected to generate $2,257,800 during the five year term of this program. This revenue, which is generally paid at the time of final map approval, is expected to be received in the following years. PROJECTED RUBY HILL IN-LIEU PARK DEDICATION FEES 1994/95 1995/96 1996/97 1997/98 1998/99 $532,500 $532,500 _i $532,500 $532,500 $127,800 In accordance to the city ordinance governing this development, the City Council has the authority to make a determination regarding the issuance of a park in -lieu fee credit of up to 50% of the expected in lieu park fees should the developer meet certain criteria relative to the development of private open space. In the event a credit is requested by Signature Properties and subsequently approved by the City Council, a reduction in projected in -lieu park dedication fees included in this program would occur. Considering the magnitude of this potential revenue adjustment, a reevaluation of project priorities would likely be necessary if this were to occur. Consistent with previous years, Streets and Miscellaneous Programs which are dependent upon developer contributions to complete, are listed as unfunded unless the contribution has already been collected or unless there are assurances that the revenue will be collected during the FY 1994/95. PROGRAM ORGANIZATION To help identify specific projects, this program is arranged by project type (Streets, Parks, Miscellaneous, Water and Sewer) and by project year. This arrangement should provide the City Council and the general public with a clear picture of the entire Capital Improvement Program for each of the five program years. Financial tables are included in the following section which detail the specific revenues and expenditures for each of the program areas of Streets, Parks, Miscellaneous, Water and Sewer. Project identification numbers are included on project description sheets. The first two digits of these numbers reflect the fiscal year the project was first funded. The additional digits reflect City account numbers. Page [umbers identifying each project are included in the table of contents and on the financial tables. In reviewing the document, it should be remembered that with the exception of General Fund transfers, funds are not interchangeable between the five program categories. As a result, funds from, for example, the Sewer Replacement Program, may not be utilized to fund unfunded projects in the Streets or Miscellaneous Programs. Allocation of funds is determined by City ordinance, accounting requirements or state /federal law.