RES 98034 - Laserfiche WebLink

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