Laserfiche WebLink
Resolution No. 02-051 <br />Page Two <br /> <br />Section I: The City Council finds as follows: <br /> <br />mo <br /> <br />There are seven development impact fees and all FY 1995-96 Lower <br />Income Housing In Lieu fees remain unexpended but these fees are <br />committed to purchasing equipment or constructing improvements <br />identified in subsection D that will implement goals and objectives of the <br />City's General Plan; <br /> <br />Bo <br /> <br />The City's objective to mitigate the impacts caused by the development of <br />residential, commercial, and industrial land will be assisted by the purchase <br />of the equipment or construction of the improvements; <br /> <br />There is a reasonable relationship between the purpose of each of the <br />developer fees and the purpose for which it is charged and committed as <br />stated below in subsection D. <br /> <br />The amount of the development impact fees collected, the cash balance <br />(including interest earnings) as of June 30, 2001 for each fee held for five <br />years or more, the purpose the fee is conunitted, additional sources of <br />funding and the expected date that funding will be available are as follows: <br /> <br />(i) <br /> <br />Fund 484-6 - $11,863; Ghorbani <br />Cash Balance - $9,553 <br />Project - Kottinger Drive Street & Storm Drain Improvement. <br />This project is currently out to bid. Other sources of funding include <br />Measure B and the General Fund. This project is budgeted in the <br />FY00-01 CIP Program, Project #995030. <br /> <br />(ii) <br /> <br />Fund 490 - $10,650; New Cities <br />Cash Balance - $14,057 <br />Project - Traffic Signal at Hansen and Valley <br />This project is currently unfunded. The City is waiting for additional <br />developer funds before proceeding. <br /> <br /> <br />