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2 <br />THE CITY OF <br />.~. ~ <br />j~L~E~S~NTONo CITY COUNCIL AGENDA REPORT <br />February 19, 2008 <br />Finance Department <br />TITLE: ADOPT A RESOLUTION FINDING THAT CERTAIN DEVELOPMENT <br />IMPACT FEES (AB1600 AND SB1693) COLLECTED FROM DEVELOPERS <br />ARE UNEXPENDED AFTER FIVE YEARS BUT THE FUNDS ARE <br />COMMITTED TO PARTICULAR PROJECTS <br />SUMMARY <br />As required by AB1600 and SB1693, this annual report has been prepared showing the <br />status of development impact fees held as of June 30, 2007. The attached resolution <br />finds that certain developer funds have been held for five or more years but identifies <br />the projects and the City's commitment thereto to justify the City's retention of the funds. <br />RECOMMENDATION <br />Adopt a resolution finding that certain development impact fees (AB1600 and SB1693) <br />collected from developers are unexpended after five years but the funds are committed <br />to particular projects. <br />FINANCIAL STATEMENT <br />The developer fees held by the City that meet the criteria described in this report must <br />be returned to developers if the findings in the attached resolution are not adopted. <br />