RES 07092 - Laserfiche WebLink

WHEREAS, the City is committed to redevelop Kottinger Place, increase affordability at the Gardens by Ironwood and to continue to implement affordable housing programs and various other housing projects with these fees; NOW, THEREFORE BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF PLEASANTON DOES RESOLVE, DECLARE, DETERMINE AND ORDER THE FOLLOWING: Section 1: The City Council finds as follows: A. There are ten development impact fees and all FY 2000-01 Lower-Income Housing Fees remaining unexpended but these fees are committed to constructing improvements identified in subsection D that will implement goals and objectives of the City's General Plan; B. The City's objective to mitigate the impacts caused by the development of residential, commercial, and industrial land will be assisted by the purchase of the equipment or construction of the improvements; 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 in subsection D. D. The amount of the development impact fees collected, the cash balance (including interest earnings) as of June 30, 2006 for each fee held for five years or more, the purpose 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 St. Victorians; 2/25/91 June 30, 2006 Cash Balance - $54,425 Project -Division St. Utility Undergrounding This money will be used to supplement the PG&E Rule 20A money for undergrounding utilities. (ii) Fund 429 - $27,560; Chevron; 6/5/91 June 30, 2006 Cash Balance - $15,435 Project - Hopyard @ Owens Intersection Improvements This project is funded primarily by NPID I (assessment district) money. The project is awaiting the update to the General Plan. (iii) Fund 437 - $23,398; Taubman; 7/10/90 June 30, 2006 Cash Balance - $46,726 Project -Traffic Signal -Foothill @ Laurel Creek Kaiser built this signal. The City will reimburse Kaiser. (iv) Fund 490 - $10,650; New Cities; 4/30/96 June 30, 2006 Cash Balance - $16,285 Project -Traffic Signal -Hansen @ Valley This project is awaiting the update to the General Plan.