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Should new projects develop, the unit totals and corresponding revenue may be adjusted and/or <br />increased. If this should happen, as indicated above, an adjustment will be made in the Mid-Term CIP <br />without affecting projects funded in 2005-06. In general, development projections must be viewed as <br />tentative since even approved projects may be affected by the economy and the health of the housing and <br />construction industry that is generally beyond the City's control. <br /> <br />In 1998 the City conducted a comprehensive development fee study that established a nexus between <br />development fees and the impacts brought on by new local development. This study established the fee <br />amounts for the Public Facilities, Traffic Impact and Park Dedication fees and has served as the <br />foundation for development fees usage. Consistent with that study, the recommendations related to fee <br />usage in this CIP are generally consistent with the study. However, since 1998 the scope and cost of <br />many of these projects have changed causing some modifications. In response to the Council's priority <br />to conduct a comprehensive fee study, staff anticipates updating this study to incorporate new project <br />and cost information. Nevertheless, this CIP continues to apply development fee revenue to projects that <br />are consistent with the intent and scope of the 1998 fee study. <br /> <br />Because additional development related revenue could become available to the CIP if new development <br />is approved, it is difficult to estimate the total amount of development revenue that could be available in <br />this CIP. However, as the City approaches build-out, development related revenue as a pementage of <br />total available CIP revenues should continue to decrease. Nevertheless, development related revenue <br />continues to play an important role in this CIP. The trend in development fees is outlined in the graph <br />below. <br /> <br />Developer Fees as a Percentage of ClP <br />Financial Resources <br /> <br />20.0% <br /> <br />15.0% <br /> <br />10.0% <br /> <br />5.0% <br /> <br />0.0% <br /> <br />FY 2005-06 FY 2006-07 FY 2007-08 FY 2008-09 <br /> <br />*Does not include City utility connection fees. <br /> <br />xi <br /> <br /> <br />