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CAPITAL IMPROVEMENT FUNDS <br />Recommended updates to the CIP are outlined in Appendix E, Tables 1-5. The most significant <br />of the recommended changes in the Capital Improvement Funds are described as follows. <br />CIP beginning fund balances are being increased by $246,000, due mostly to an audit adjustment <br />for interest allocations done after the YE 1996-97 Financial Report was prepared. <br />Interest income projections have been increased by a total of $520,000, spread among the <br />various Capital Improvement Funds. In Table 2 -Streets (page 36-37), both the revenue and <br />expenditure for the grant from the Department of Transportation for the First Street Bridge are <br />reflected as midyear adjustments. An additional $126,600 from North Pleasanton Improvement <br />District #2 (NPID2) is being appropriated. Money previously transferred from NPID3 for <br />landscape maintenance is now being reflected in the Street CIP along with the offsetting <br />expense. Although shown all in 1997-1998, the NPID funds will in reality be spent over several <br />years. <br />The Park CIP revenue and expense for the North Pleasanton neighborhood park has been <br />updated for fees collected from the new Rosewood Apartment Homes, as shown on page 35. <br />Both the Miscellaneous CIP and Sewer CIP reflect the elimination of interfund loans that were <br />projected to be needed for cash flow purposes, but were in fact not necessary, as shown on pages <br />39 and 49. <br />Numerous small expenditure adjustments and line item transfers among projects are reflected in <br />all of the five CIP categories (Tables 1-5) pages 35-52. <br />PENDING FEE STUDIES AND GENERAL FUND IMPACTS <br />Staff is in the process of updating development fees. Staff has completed a study and has <br />developed draft recommendations to eliminate four of our existing capital fees and replace them <br />with a Capital Facilities Fee and a local Traffic Impact Fee. In addition, staff is updating the <br />Park Dedication In-Lieu Fee. A series of workshops has been scheduled for Council and the <br />public, including both the residential and business community, to explain the rationale for the <br />fees, answer questions and obtain feedback. <br />A important finding in the draft fee study is the level of General Fund contribution that will be <br />needed to complete the projects identified as necessary through buildout of our General Plan. <br />Assuming the development fees are adopted at the level proposed, the General Fund (or some <br />other source) will need to make up the remaining $63 million. <br />SR 98:63 <br />Page 11 <br />