RES 97149 - Laserfiche WebLink

Resolution No. 97-149 Page Two 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. D. The amount of the development impact fees collected, the cash balance (including interest earnings) as of June 30, 1997 for each fee held for five years or more, the purpose for which the fee is committed, additional sources of funding and the expected date that funding will be available are as follows: (i) Fund 425 - $27,705; Division Street Victorians Cash Balance - $37,998 Project - Division Street Utility Undergrounding. The project of undergrounding the utilities on certain downtown streets will commence when certain other developer funds are received. The City will contribute a portion of the cost from the general fund. (ii) Fund 427 - $12,717; Balch Enterprises Cash Balance - $18,071 Project - Intersection Improvements at Valley/Santa Rita. Project #975039 is funded primarily by Assessment District NPID-I and will be designed in FY97-98 and constructed in FY99-00. The developer's percentage is approximately 2% of the total project cost. (iii) Fund 429 - $27,560; Chewon Cash Balance - $37,0 19 Project - Owens Drive Improvements (Phase I). Project #975038 is funded primarily by Assessment District NPID-1 and will be constructed in FY97-98. The developer's percentage is approximately 13% of the total project cost. (iv) Fund 433 - $18,828; Yee Cash Balance - $25,015 Project - Fair Street Utility Undergrounding. This developer's percentage is approximately 50% of the total project cost. The project will commence when certain other developer ~mds are received. The City will conlribute a portion of the cost from the general fund.