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NOW, THEREFORE BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF PLEASANTON DOES RESOLVE, DECLARE, DETERMINE AND ORDER THE FOLLOWING: Section 1: A. There are development impact fees remaining unexpended, but these fees are committed to constructing improvements identified in subsection D below that will implement goals and objectives of the City's General Plan; B. The City's objective to mitigate the impacts caused by the development of residential, commercial, and industrial land will be assisted by the purchase of the equipment or construction of the improvements; C. There is a reasonable relationship between the purpose of each of the developer fees and the purpose for which it is charged and committed as stated below in subsection D. D. The amount of the development impact fees collected, the cash balance (including interest earnings) as of June 30, 2010 for each fee held for five years or more, the purpose the fee is committed, additional sources of funding and the expected date that funding will be available are as follows: Miscellaneous Capital Improvement Fund (Fund 154) Amount collected in previous fiscal years subject to 5 year limitation: $805,892 Funds are committed to the following projects: • Firehouse Arts Center — project #038011 Description: This project consists of the construction of the Firehouse Arts Center. Approximate project completion date: September 2010 Project cost: $12,819,153 % funded by development impact fees: 4.8% Source of funding: Public Facilities Fees, Misc. General Fund CIP Funds (94.4 %), Pleasanton Cultural Arts Foundation Donations (.8 %) • Downtown Parking Improvements — project #018044 Description: Purchase of Alameda County Transportation Corridor (annual payment). Approximate project completion date: August, 2015 (final payment) Project cost: $7,500,000 (excludes interest) % funded by development impact fees: 8.4% Source of funding: Public Facilities Fees, General Fund CIP Reserves (22.0 %), NPID Reserve Funds (50.1 %), Downtown Parking -In -Lieu Fees (19.5 %) Neighborhood Park Development Fund (Fund 159) Amount collected in previous fiscal years subject to 5 year limitation: $772,633 Funds are committed to the following projects: • Staples Neighborhood Park — project # 117033 Description: Construction of a 5 acre neighborhood park with a 3.3 acre storm water detention basin. Approximate project completion date: 2012 Project cost: $7,000,000 % funded by development impact fees: 45.8%