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WHEREAS, staff has found that the Lower-Income Housing Fees collected between <br />July 1, 2000 and June 30, 2001 remain unexpended; and <br />WHEREAS, the City is committed to redevelop Kottinger Place, increase affordability at <br />the Gardens by Ironwood and to continue to implement affordable housing programs and <br />various other housing projects with these fees; <br />NOW, THEREFORE BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF <br />PLEASANTON DOES RESOLVE, DECLARE, DETERMINE AND ORDER THE FOLLOWING: <br />Section 1: The City Council finds as follows: <br />A. There are ten development impact fees and all FY 2000-01 Lower-Income Housing <br />Fees remaining unexpended but these fees are committed to constructing <br />improvements identified in subsection D that will implement goals and objectives of <br />the City's General Plan; <br />B. The City's objective to mitigate the impacts caused by the development of <br />residential, commercial, and industrial land will be assisted by the purchase of the <br />equipment or construction of the improvements; <br />C. There is a reasonable relationship between the purpose of each of the developer <br />fees and the purpose for which it is charged and committed as stated below in <br />subsection D. <br />D. The amount of the development impact fees collected, the cash balance (including <br />interest earnings) as of June 30, 2006 for each fee held for five years or more, the <br />purpose the fee is committed, additional sources of funding and the expected date <br />that funding will be available are as follows: <br />(i) Fund 425 - $27,705; Division St. Victorians; 2/25/91 <br />June 30, 2006 Cash Balance - $54,425 <br />Project -Division St. Utility Undergrounding <br />This money will be used to supplement the PG&E Rule 20A money for <br />undergrounding utilities. <br />(ii) Fund 429 - $27,560; Chevron; 6/5/91 <br />June 30, 2006 Cash Balance - $15,435 <br />Project - Hopyard @ Owens Intersection Improvements <br />This project is funded primarily by NPID I (assessment district) money. The <br />project is awaiting the update to the General Plan. <br />(iii) Fund 437 - $23,398; Taubman; 7/10/90 <br />June 30, 2006 Cash Balance - $46,726 <br />