RES 99089 - Laserfiche WebLink

Included in Section 2 of the Appendix are three tables which project development for the purpose of identifying potential development related revenues. The first table identifies those particulaz developments which have all development approvals and aze included as revenue in this CIP. The second table includes those projects which have development approval but do not have Growth Management approval. These projects are not included in the CIP. Should these projects receive Growth Management approvals and proceed with development, their fee-related revenue would be collected and recorded in the appropriate yeaz. The potential revenues from these projects over the five yeaz CIP is $1,115,018. Finally, the third table represents those projects which have been submitted for review or aze expected to be submitted for approval during this CIP period. These projects are not included in this CIP. Again, should these projects be approved, the revenue which could reach $18,596,054 generated from them would be added to the CIP and made available for projects in future years. While staff could have made some assumption regazding approvals of projects without all necessary approvals, the recommendation to only include those projects which have all necessary approvals is appropriate considering the number of uncertainties related to future development issues. Should additional projects begin development, revenue adjustments will be made as part of the Mid-Term Budget. In addition, while the revenue projections aze based substantially on approved projects, they must be viewed as tentative since even these projects may be effected by the economy and the health of the housing and construction industry which is generally beyond the City's control. In addition to issues related to forecasting revenue generated from the new City development fees, consistent with the City's Development Impact Fee Report, the public facility development fees collected must be used on specific projects identified in the Development Impact Fee Report. Included in Section 4 of the Appendix, is a listing of the status of those projects in this CIP. Also, the unfunded project list includes information which identifies which projects aze eligible to receive revenue from public facility development fees. Staff will continue to track these projects in future CIP's to assure that revenue from the development fees is appropriately allocated to eligible projects. In addition, staff anticipates a regular review of those projects in the Development Fee Impact Report to assure that they are consistent with projected development impacts and the amount of fees required to mitigate those impacts. Developer Contributions In addition to revenue received through development fees, the CIP includes $1,556,955 from development contributions. Development contributions represents those revenues received from xi