AGENDA TITLE:
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Adopt a Resolution Approving Impact Mitigation Fee Program Annual Report for Fiscal Year 2023/24 (FIN)
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MEETING DATE:
April 2, 2025
PREPARED BY:
Bobby Magee, Interim Assistant City Manager
recommendation
RECOMMENDED ACTION:
Adopt a resolution approving Impact Mitigation Fee Program Annual Report for Fiscal Year 2023-24.
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BACKGROUND INFORMATION:
The City Development Impact Mitigation Fee (IMF) program consists of 11 separate fee categories, plus the Art in Public Places set aside. The categories are Electric, Water, Wastewater, Streets, Regional Transportation, Storm, Police, Fire, Parks and Recreation, General City Facilities, and Neighborhood Parks. The fees can only be used for capital improvements and/or debt service to accommodate new growth. The fees were established in 1991 and updated in 2012.
In accordance with the State's annual reporting requirements, Staff prepared the following exhibits:
1. A brief description of the fee program; and,
2. Schedule of fees; and,
3. Beginning and ending balances for the fee program; and,
4. Amount of fees collected, interest earned, and transfers/loans; and,
5. Disbursement information (including interfund transfers/loans) and percentage of the project funded by fees; and,
6. A description of each interfund loan along with the date the loan will be repaid and the rate of interest; and,
7. The estimated date when projects will begin if sufficient revenues are available to construct the project; and,
8. Findings for each fee program.
Assembly Bill 1600 requires California agencies to report annually on the IMF fees collected throughout the fiscal year, with this report having a deadline of December 31, 2024. The report was not completed timely this year due to a lack of staffing in the Finance Department. Pursuant to State law, the report must be available for public review at least 15 days prior to City Council action. The annual report has been posted to th...
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