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that year and every five years thereafter, with respect to any portion of the fee remaining unexpended. The findings must identify the purpose for which the fee is to be used and demonstrate a nexus between the fee and the purpose for which it was originally charged. The findings must also identify all sources and amounts of funding for completion of the improvement and the approximate date that the improvement will be fully funded. After five years, a local agency is also required to refund the unexpended portion of the fee, and any accrued interest, for which a need cannot be demonstrated. However, when a city makes appropriate findings (including that the purpose for the developer impact fee remains), the city may retain the fee. Staff reviewed development impact fees collected five or more years ago and has determined that all funds held for more than five years are necessary to complete identified projects as shown below by fund. The percent funded by the impact fees was established in the nexus study that established the relevant fee. Capital Facilities Fund (Fund 203) Amount collected in previous fiscal years subject to 5-year limitation: $1,272,438 Funds are committed to the following project: • Design and Construct New Fire Station #3 project#17423 Description: This project involves construction of a new station, fully compliant with modern codes and fire service needs on the existing Station #3 site. The building assessment determined that the total cost to remove the existing building and construct a new facility is approximately $8.0 million. The project also includes setting up a temporary facility on the vacant property located at the southeast corner of Stoneridge Drive and Rheem Street that will be used as a temporary fire station during the demolition and construction of Fire Station No. 3. Approximate project completion date: 2022 Project cost: $8,035,000 % funded by Capital Facilities Fees: 61% Source of funding: Capital Facilities Fees and Developer Contributions Park Development Fund (Fund 222) Amount collected in previous fiscal years subject to 5-year limitation: $0 Funds are 100% expended as accounted for in Attachment 2. Traffic Impact Fund (212) Amount collected in previous fiscal years subject to 5-year limitation: $523,800 Funds are committed to the following project: • Johnson Drive Economic Development Zone—Transportation Imp#18531 Description: This project design and construct the transportation improvements associated with the Johnson Drive Economic Development Zone: Traffic Signals on Johnson (Commerce Drive and Owens Drive North); Stoneridge and Johnson left turns; Stoneridge Drive and 680 northbound on ramp widening; and Johnson Drive widening. Approximate project completion date: 2022 Project cost: $6,385,865 % funded by Traffic Impact Fees: 100% Source of funding: Traffic Impact Fees Page 4 of 7