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In projecting Development Related Fees, staff has taken a conservative approach which includes revenue <br />only from projects which have been approved by the City Council and have received Growth <br />Man~gemeilt approval. As a result, the number of residential units and commercial square footage <br />included as revenue generating projects is as follows: <br /> <br />RESIDENTIAL DEVELOPMENTS AND COMMERCIAL SQUARE FOOTAGE <br /> USED FOR REVENUE PROJECTIONS <br /> <br /> RESIDENTIAL COMMERCIAL <br /> <br />Year * Number of Units Year* Square Footage <br />FY 2001-02 341 FY 2001-02 532,955 <br />FY 2002-03 265 FY 2002-03 446,500 <br />FY 2003-04 125 FY 2003-04 643,000 <br />FY 2004-05 40 FY 2004-05 771,992 <br />FY 2005-06 0 FY 2005-06 478,860 <br /> <br />* Projects in the indicated year provide revenue in the preceding year. As an example, the revenue <br /> collected from the 341 units in FY 2001-02 will be available for projects funded in FY 2002-03. <br /> <br />Included in Section 2 of the Appendix are three tables which project development for the purpose of <br />identifying potential development related revenues. The first table identifies those particular <br />developments which have all development approvals and are included as revenue in this CIP. The <br />second table includes those projects which have development approval but do not have Growth <br />Management approval. These projects are not included in the CIP. Should these projects receive <br />Growth Management approvals and proceed with development, their fee-related revenue would be <br />collected and recorded in the appropriate year. Finally, the third table represents those projects which <br />have been submitted for review or are expected to be submitted for approval during this CIP period. <br />These projects are not included in this CIP. <br /> <br />While staff could have made some assumption regarding approvals of projects without all necessary <br />approvals, the recommendation to only include those projects which have all necessa~ approvals is <br />appropriate considering the number of uncertainties related to future development issues. Should <br />additional projects begin development, revenue adjustments will be made as part of the Mid-Term <br />Budget. In addition, while the revenue projections are based substantially on approved projects, they <br />must be viewed as tentative since even these projects may be effected by the economy and the health of <br />the housing and construction indusla'y which is generally beyond the City's control. <br /> <br />xiii <br /> <br /> <br />