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■ <br /> THE CITY OF / 4 <br /> ' "' CITY COUNCIL AGENDA REPORT I <br /> pL E ASANTONo <br /> December 6, 2011 <br /> Finance Department <br /> TITLE: ADOPT A RESOLUTION MAKING THE FINDING THAT CERTAIN <br /> DEVELOPMENT IMPACT FEES (AB1600 AND SB1693) COLLECTED ARE <br /> UNEXPENDED AFTER FIVE YEARS AND ARE COMMITTED TO <br /> 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, 2011. The attached resolution <br /> finds that certain development impact fees have been held for five or more years and <br /> identifies the projects and the City's commitment thereto for the City's retention of the <br /> funds. This report also contains the annual information on Water and Sewer <br /> Connection fees as required by SB1760. <br /> Staff published the required public hearing notice on November 21, 2011 in the Valley <br /> Times and made this report available to the public fifteen (15) days in advance of this <br /> meeting, as required by law. <br /> RECOMMENDATION <br /> Adopt a resolution finding that certain development impact fees subject to AB1600 and <br /> SB1693 are unexpended after five years and the funds are committed to particular <br /> projects. <br /> FINANCIAL STATEMENT <br /> The development impact fees held by the City that meet the criteria described in this <br /> report must be refunded if the findings in the attached resolution are not adopted. <br /> • <br />