RES 94083 - Laserfiche WebLink

extension project which was a condition of approval for the proposed Case Avenue 146 unit mixed income apartment development. However, City staff is in the process of preparing a funding plan for this project, which may include grants and developer contributions, and alter this funding proposal. Constructiottand Development Related Revenues This category of revenue consists of fees and charges generally collected with the issuance of City building permits and final maps and developer contributions. City staff is currently finalizing a comprehensive development fee study which will result in a recommendation to replace existing Miscellaneous Program development fees with a traffic impact fee and a facilities fee. As a result, revenue sources and amounts may change. However, because these fee changes have not yet been reviewed or approved by the Council, all years show funding from existing revenue sources. A presentation and review of the proposed new fees is expected shortly. To determine estimated revenue resulting from construction activity, the Planning Department has completed a five year forecast which anticipates the number of residential projects/units that may be constructed during the next five years. A detailed listing of the number of units/projects expected to be constructed and related fees is included in Appendix A located at the end of this document. Listed below is a table which compares Council approved growth management allocations with staff estimate of the number of units which will pay fees during the term of this program. Because growth management is allocated on a calendar year basis, there is not a direct correlation to the fee collections which are estimated on a fiscal year. It should be noted that the estimated projected number of units to pay fees includes 109 currently unidentified units in both FY 1997/98 and FY 1998 /99. These 218 units are included to reflect the potential for new projects. COMPARISON OF GROWTH MANAGEMENT APPROVALS WITH ESTIMATED NUMBER OF UNITS TO PAY FEES CALENDAR YEAR GROWTH MANAGEMENT APPROVALS FISCAL YEAR ESTIMATED NO. OF UNITS TO PAY FEES 1994 747 FY 1994/95 695 1995 700 FY 1995/96 648 1996 740 FY 1996/97 753 1997 657 FY 1997/98 692 1998 274 FY 1998/99 296 TOTAL 3,118 TOTAL 3,084 Based on the above estimated number of units expected to pay fees, a total of $21,939,353 in revenue is expected to be generated from this funding source over the next five years. This figure includes, in addition to the development- related fees, an anticipated $480,428 from developer contributions. A v