RES 15757 - Laserfiche WebLink

d) Public schools; e) Affordable and/or inclusionary housing developments; f) Governmental buildings owned by any public entity unless a development agreement provides for payment of the TVTD fee for a governmental building; g) Development projects which are subject to a development agreement, except that the fee shall be applicable to any "significant" changes to any development agreement adopted after January 1, 1998. As used herein, "significant" means any of the following: 1. Change in land use type (e.g., office to retail); 2. Intensification of land use types (e.g., increases in square footage of approved office); 3. Extension of term of development agreements; and 4. Reduction or removal of project mitigation requirements or conditions of approval. SECTION 5—TVTD Fee Adjustments a) The TVTD Fee shall be adjusted automatically on an annual basis (July 1) by the increase or decrease in the Engineering News-Record Construction Cost Index for the San Francisco Bay Area for the period ending December 31 of the preceding calendar year. b) In addition to the automatic adjustment of subsection (a) above, the City may amend this resolution to adjust the TVTD Fee to reflect revisions in the Transportation Improvement Projects, increases in land values over the inflationary increase or other factors. SECTION 6—Use of TVTD Fee Revenue The TVTD Fees shall be placed in the TVTD Fees Fund. Separate and special accounts within the TVTD Fees Fund shall be used to account for such revenues, along with any interest earnings on each account. Within 30 days of the end of each quarter, the City's Finance Director shall transmit not less than 80% of all TVTD Fees collected during the quarter, and any interest or income generated on such 80% amount, to the TVTC Treasurer, The remaining 20% funds shall be retained by the City and the Finance Director shall maintain a record of all TVTD Fees retained, together with interest or income on such retained fees, and annually shall furnish the Treasurer an accounting of such monies for inclusion in any audit of TVTD Fees prepared by or at the request of the Treasurer. The TVTD Fees (and interest or income generated on such fee revenues) for both the 80% funds and the 20% funds shall be used for the following purposes: