SR 05:162 - Laserfiche WebLink

WHEREAS, staff has found that the Lower-Income Housing Fees collected between July 1, 1998 and June 30, 1999 remain unexpended; and WHEREAS, the City is committed to construct the Bridge assisted living facility and to continue to implement the affordable housing program on the Bernal property and to assist in the construction of the Busch Gardens senior housing project 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 1998-99 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; 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. The amount of the development impact fees collected, the cash balance (including interest earnings) as of June 30, 2004 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: (i) Fund 497B - $12,150; Providence June 30, 2004 Cash Balance - $15,049 Project - Water Main Extension: Rose to Valley This project is currently on hold pending future development in the area. (ii) Fund 910 - $5,500; Braddock & Logan June 30, 2004 Cash Balance - $6,928 Project - Arroyo Del Valle Drainage Outfall This project is currently on hold due to environmental issues.