RES 05044 - Laserfiche WebLink

Resolution No. 05-044 Page Two WHEREAS, staff has found that there are two development impact fees collected from developers for this period that received findings five years ago and remain unexpended; and WHEREAS, the City is committed to use one of the fees to construct capital improvements when certain environmental issues are resolved and is waiting to disburse the other fee to Signature Properties when appropriate; and 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: A. 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; B. 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; C. 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. 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,