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Section 1: The City Council finds as follows: <br /> A. There are nine development impact fees and all FY 2003 -04 Lower Income Housing <br /> Fees remaining unexpended but these fees are committed to constructing improvements <br /> identified in subsection D that will implement goals and objectives of the City's General <br /> Plan; <br /> B. The City's objective to mitigate the impacts caused by the development of residential, <br /> commercial, and industrial land will be assisted by the purchase of the equipment or <br /> construction of the improvements; <br /> C. There is a reasonable relationship between the purpose of each of the developer fees <br /> and the purpose for which it is charged and committed as stated below in subsection D. <br /> D. The amount of the development impact fees collected, the cash balance (including <br /> interest earnings) as of June 30, 2009 for each fee held for five years or more, the <br /> purpose the fee is committed, additional sources of funding and the expected date that <br /> funding will be available are as follows: <br /> (i) Fund 497B $12,150; Providence; 6/22/99, <br /> June 30, 2009 Cash Balance $18,568 <br /> Project Water Main Extension: Rose to Valley <br /> Funds to be held pending approval of the last subdivision at the westerly end of <br /> Rose Avenue. <br /> (ii) Fund 470 $9,000; Signature Properties; 8/3/93 <br /> June 30, 2009 Cash Balance $18,042 <br /> Project Replace Manholes Ruby Hill <br /> The City intends to use these funds in the next five years for repairs /replacement <br /> of sewer infrastructure (including manholes) within the Ruby Hill development <br /> (iii) Fund 498A $12,150; Providence; 6/22/99 <br /> June 30, 2009 Cash Balance $17,946 <br /> Project Sewer Main Extension: Rose to Valley <br /> Funds to be held pending approval of the last subdivision at the westerly end of <br /> Rose Avenue. <br /> (iv) Fund 471 $305,000; Pacwest; 12/17/93 <br /> June 30, 2009 Cash Balance $156,341 <br /> Project Dublin Canyon Road Interim Improvements <br /> Project is currently on hold pending additional funding and obtaining environmental <br /> permits. <br /> (v) Fund 908 $2,777,712; Standard Pacific; 12/2/98, 12/21/98, 12/22,98, 9/29/99 <br /> June 30, 2009 Cash Balance $53,137 <br /> Project Stoneridge Drive Specific Plan Fees <br /> These funds have been expended in FY2009 -10. <br /> (vi) Fund 936 $46,272; New Cities; 8/28/03 <br /> June 30, 2009 Cash Balance $56,079 <br /> Project Extension of Sunset Creek Lane <br /> Project is on hold pending development of Lund Property. <br /> (vii) Fund 937 $500,000; Happy Valley Bypass Road; 8/28/03 <br /> June 30, 2009 Cash Balance $605,972 <br /> Project Happy Valley Bypass Road <br />