Laserfiche WebLink
THE CITY OF <br /> 7 <br /> pL E ASANTONo CITY COUNCIL AGENDA REPORT <br /> February 16, 2010 <br /> Finance Department <br /> TITLE: ADOPT A RESOLUTION FINDING THAT CERTAIN DEVELOPMENT <br /> IMPACT FEES (AB1600 AND SB1693) COLLECTED FROM DEVELOPERS <br /> ARE UNEXPENDED AFTER FIVE YEARS BUT THE FUNDS ARE <br /> COMMITTED TO PARTICULAR PROJECTS <br /> SUMMARY <br /> As required by AB1600 and SB1693, this annual report has been prepared showing the <br /> status of development impact fees held as of June 30, 2009. The attached resolution <br /> finds that certain developer funds have been held for five or more years but identifies <br /> the projects and the City's commitment thereto to justify the City's retention of the funds. <br /> RECOMMENDATION <br /> Adopt a resolution finding that certain development impact fees (AB1600 and SB1693) <br /> collected from developers are unexpended after five years but the funds are committed <br /> to particular projects. <br /> FINANCIAL STATEMENT <br /> The developer fees held by the City that meet the criteria described in this report must <br /> be returned to developers if the findings in the attached resolution are not adopted. <br />