RES 04043 - Laserfiche WebLink

Resolution No. 04-043 Page 2 WHEREAS, staff has found that the Lower-Income Housing Fees collected between July 1, 1997 and June 30, 1998 remain unexpended; and WHEREAS, the City is committed to construct the assisted living facility on Sunol Boulevard and to continue to implement the affordable housing program on the Bernal property with these fees; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON RESOLVES AS FOLLOWS: Section 1: The City Council finds as follows: There are six development impact fees and all FY 1997-98 Lower- Income Housing Fees remaining unexpended but these fees are committed to constructing improvements identified in subsection D that will implement goals and objectives of the City's General Plan; Bo 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; 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. Do The amount of the development impact fees collected, the cash balance (including interest earnings) as of June 30, 2003 for each fee held for five years or more, the purpose the fee is committed, additional sources of funding and the expected date that fimding will be available are as follows: (i) Fund 906 - $22,000; Shea Homes June 30, 2003 Cash Balance - $27,812 Project - Dublin Ranch Water Line Relocation This money will be used in FY2003-04 to reimburse the City for contract engineering costs. (ii) Fund 902 - $33,040; Braddock & Logan June 30, 2003 Cash Balance- $43,515 Project - Trail Along Arroyo Del Valle This project is currently on hold due to right-of-way and environmental issues.