RES 09262 - Laserfiche WebLink

Section 1: The City Council finds as follows: A. There are eight development impact fees and all FY 2002-03 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, 2008 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 446 - $15,300; Glanville/Auf Der Maur; 12/21/92, June 30, 2008 Cash Balance - $29,528 Project - Undergrounding of Overhead Utility (Old Stanley Blvd.) Approval for the formation of an undergrounding district for Old Stanley Boulevard is scheduled to go to City Council in Fiscal Year 2009. If approved, work on this project could begin within five years. (ii) Fund 464 - $12,000; Shapell; 4/7/93 June 30, 2008 Cash Balance - $22,957 Project -Extension of Livingston Way The street extension will be completed when the Lund Ranch II development is constructed. The project is currently in the EIR stage. (iii) Fund 493 - $483,134; Golden Eagle Insurance; 8/5/96; 1/98; June 30, 2008 Cash Balance - $790,765 Project -Dublin Canyon Interim Improvement Project is on hold pending environmental permits from agencies. (iv) Fund 902 - $33,040; Braddock & Logan; 9/20/97 June 30, 2008 Cash Balance - $50,648 Project -Trail along Arroyo Del Valle (Tract 6902) Project is currently on hold pending trail location and curtain installation issues. (v) Fund 924 - $800,782; Standard Pacific; 12/28/01; 3/14/02; 3/28/02 June 30, 2008 Cash Balance - $987,487 Project - Stoneridge Drive Specific Plan Fee These funds will be used when the bridge is constructed over the Arroyo Mocho with the Staples Ranch project. (vi) Fund 926 - $25,434; Passport Homes; 9/10/02 June 30, 2008 Cash Balance - $30,695 Project -Dublin Canyon Interim Improvement Project is on hold pending environmental permits from agencies. (vii) Fund 927.- $3,250; Applied Biosystems; 10/28/02 June 30, 2008 Cash Balance - $3,872 Project - Sunol Blvd. Median Trees Trees will be installed after the widening of Sunol Boulevard near I-680 is completed. The widening for Sunol Boulevard is not planned in the near future.