HomeMy WebLinkAboutReso 023-99 Guideline/ED TIFRESOLUTION NO. 23 - 99
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
ESTABLISHING ADMINISTRATIVE GUIDELINES RELATED TO
EASTERN DUBLIN TRAFFIC IMPACT FEES
WHEREAS, the City Council has Established a Traffic Impact Fee (TII~) applicable to development
occurring within the Eastern Dublin Specific Plan Area; and
WHEREAS, the current TIF was adopted in April 1996 with Resolution 41-96; and
WHEREAS, Section 11 of Resolution 41-96 provides for the future adoption of Administrative
Guidelines by City Council Resolution; and
WHEREAS, the intent of the Guidelines is to provide procedures for reimbursement, credit, or
other administrative aspects of the Traffic Impact Fee Program; and
WHEREAS, Guidelines have been prepared which address common issues related to the collection
of the TIF and administration of Credits; and
WHEREAS, the Guidelines as prepared are consistent with the requirements of Resolution 41-96
and existing laws and regulations; and
WHEREAS, '~Draf~ Copies" of the Guidelines were distributed to Interested Parties for their
review and comment prior to consideration by the City Council.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of'Dublin does hereby
adopt the Guidelines attached hereto as Exhibit A and by reference made a part hereof.
PASSED, APPROVED AND ADOPTED this 16th day of February, 1999.
Councilrnernbers Howard, Lockhart, McCormick, Zika and Mayor Houston
AYES:
NOES: None
ABSENT: None
ABSTAIN: None
K2/G/2-16- 99/reso-edtif
G:ImpactFee/Guides/Cncladpt/resoadopt.doc
Mayor
CITY OF DUBLIN
EASTERN DUBLIN TRAFFIC IMPACT FEE
ADMINISTRATIVE GUIDELINES
(Final Recommended February 16, 1999)
I. Introduction/Overview
These guidelines apply to the Eastern Dublin Traffic Impact Fees (hereafter known as the 'Fee'
or 'Fees') adopted by the City of Dublin through ResolutiOn 41-96 and any subsequent
replacement resolution.
The Eastern Dublin Traffic Impact fee includes three categories of improvements and facilities.
· Category 1 improvements and facilities are those located exclusively in the Eastern Dublin
Specific Plan area.
· Category 2 improvements and facilities are those projects to which Eastern Dublin
developers contribute a proportionate share, including projects located in other areas of the
City.
· Category 3 improvements and facilities are those of a regional nature.
(NOTE: Category 3 Fee suspended effective September 12, 1998, as long as Th-Valley
Transportation Development Fee remains in place.)
The administrative guidelines provide procedures for calculation of the Fee, calculation and use
of credits and reimbursements, and other administrative aspects of the Fee. In addition, the
guidelines include procedures for construction of designated facilities by developers.
The administrative guidelines establish the authority for providing credits and/or reimbursements
to developers who construct and/or dedicate any of the improvements and facilities for which the
Eastern Dublin Traffic Impact fee is imposed (T~ facilities). When such public improvements
and facilities are constructed and/or dedicated by a developer, the developer shall be given a
credit to be applied against the Fees due for the development project. The amount of the credit
shall be determined pursuant to Section VI of these guidelines. If the amount of the credit is
greater than the Fees due for the development project, the developer may use the credit toward
the Fees for another development project or transfer the credit to another eligible developer in
Eastern Dublin in accordance with these guidelines. If the developer cannot use or transfer the
credit within ten years, then the credit will convert to a reimbursement right. The combination
of credit and reimbursement rights will terminate twenty years after the effective date of the
agreement creating such rights.
EXHIBIT A
Eastern Dublin Traffic Impact Fee Draft
Administrative Guidelines February 16, 1999
Page 2
The application of these guidelines will at times refer to various reference documents adopted by
the City of Dublin. These documents include the City's General Plan, the Eastern Dublin
Specific Plan, the most recent Traffic Impact Fee Study, and various other fee studies and
updates. Such reference documents are subject to change and may affect the application of these
guidelines.
II. Authority of City Manager To Interpret Situations Not Covered
Should situations arise not covered by these guidelines, the City Manager will have the authority
to determine how the resolutions, ordinances, guidelines and agreements will be administered.
Such interpretations by the City Manager will be in writing.
III.
A.
Fee Calculation
Imposition of Fees
Except as exempted under subsection D. of this section, Fees are imposed on all
development in Eastern Dublin as described below:
1. All new development, including new construction of any building or structure
(residential or non-residential);
2. Additions to non-residential buildings or structures which result in an increase of
500 square feet or more;
3. Additions to residential buildings or structures which increase the number of
units (i.e. construction of a "granny unit").
The Administrative Services Department serves as the lead department to gather and
coordinate the information necessary to calculate the Fee. The Community Development
Department is responsible for determining the intended land use. The Public Works and
Engineering Departments are responsible for determining the number of vehicle trips
assig-ned to the project. Unless otherwise provided, the Fee will be collected with the
payment for the building permit for the development project.
Eastern Dublin Traffic Impact Fee Draft
Administrative Guidelines February 16, 1999
Page 3
Effective Fees
The Fees owed by a development project will be those in effect when the building permit
is obtained. This section shall be applicable whether the fees are paid in cash or a credit is
used.
Basis for Calculating Fees
The Fees for residential development projects will be calculated based upon the per unit
fee for each of the categories noted in Resolution 41-96 (i.e. Low Density Residential,
Medium Density Residential, Medium/High Density Residential, High Density
Residential) and/or any subsequent replacement resolution.
The Fees for non-residential development are calculated on a per average weekday
vehicle trip basis. The number of average weekday vehicle trips for each type of
development is determined by the land use categories specified in Exhibit E of Resolution
41-96. However, if the Public Works Director determines that the land use of the
development project is not appropriately reflected on Exhibit E of Resolution 41-96, then
the Public Works Department will undertake a specific traffic study, to be paid for by the
applicant, for the purpose of determining the estimated trip generation of the proposed
development project. Fees for non-residential development will be charged fo/- any
addition to an existing building or structure if the addition exceeds 500 square feet.
For mixed-use non-residential development projects, the Community Development
Director will determine the projected percentage of each use at the time the Final Map or
other appropriate entitlement is approved. The Fee will be calculated on a pro-rata basis
among the various rates stated for each different use (For example, a large single building
could be divided between commercial office space and industrial warehouse space). If
the uses are unknown at the time of obtaining a building permit and the building permit
does not include adequate interior details to determine the intended use, the use for the
initial Fee calculation purposes will be assumed as "Industrial without Retail". Any
Eastern Dublin Traffic Impact Fee Draft
Administrative Guidelines Februa~ 16, 1999
Page 4
additional Fees owed as a result of a different final use of the property will be calculated
and collected at the time that a building permit is issued for interior tenant improvements.
This fee calculation shall be at the rate in effect at the time the building permit for tenant
improvements is issued. No refund of Fees will be given if the resulting uses are different
from the projdcted land use.
The average weekday trip generation rate for quasi-public uses, which is not appropriately
reflected on the "Estimated Weekday Vehicle Trip Generation Rate" schedule that was
adopted as part of the Traffic Impact Fee Resolution (Exhibit E to Resolution 41-96), as
determined by the Public Works Director, will be established by a project specific traffic
study. This study will be conducted by the City (Public Works Department) and paid for
by the project applicant. Affordable housing projects developed by government agencies
and non-profit entities will be subject to the same Fees that are assessed on private
residential development.
De
Exemptions
1. Total Exemption. The following types of development will be exempt from the
collection of Traffic Impact Fees:
a)
Any alteration or addition to a residential structure, except to the extent
that a residential unit is added to a single family unit, or another unit is
added to an existing multi-family building.
b)
Any replacement or reconstruction of an existing residential structure that
has been destroyed or demolished, provided that the building permit for
reconstruction is obtained within one year after the building was destroyed
or demolished, unless the replacement or reconstruction increases the
square footage of the structure 50% or more.
Eastern Dublin Traffic Impact Fee Draft
Administrative Guidelines February 16, 1999
Page 5
c)
Any replacement or reconstruction of an existing non-residential structure
that has been destroyed or demolished provided that the building permit
for new reconstruction is obtained within one year after the building was
destroyed or demolished and the reconstructed building would not increase
the destroyed or demolished building's trips based on "Estimated
Weekday Vehicle Trip Generation Rate" as applied to the original
building.
Partial Exemption. A partial exemption may be granted based on pr/or Fees
paid in the situation of a change in the type of use as described below:
If within 10 years of paying Eastern Dublin Traffic Impact fees for a specific
development project, the project is demolished and replaced by a new type of
development, an exemption may be given for up to the amount which was paid by
the prior development project. Proof of payment shall be obligation of the
individual/entity requesting the exemption. The new development shall not
accrue any unused credit or reimbursement rights, in the event that the
replacement project would result in a lower Fee. Any change in use outside of the
10 year period stated shall be obligated to pay the entire Fee.
IV.
A.
Fee Collection
Payment of Traffic Impact Fees for Non-Residential Development
The Traffic Impact Fee for non-residential development will be due and payable at the
issuance of a building permit and will be collected by the Building and Safety Division.
The number of estimated average weekday vehicle trips, determined as described in
Section HI.C, above, multiplied by the non-residential fee per trip, will be the basis for
the collected fee. The square footage or other appropriate measure as identified on the
building permit will be the basis for determining the number of trips on Exhibit E of
Resolution 41-96. Following is an example:
Eastern Dublin Traffic Impact Fee Draft
Administrative Guidelines February 16, 1999
Page 6
Non-Residential Fee Example: Assume that the development project is a 15,540
square foot commercial office building. The estimated weekday vehicle trip
generation rate for this type of development is 20 trips per ~1,000 square feet, and
the Fee is $360 per trip for non-residential development. FEE
CALCULATION: 15,540 square feet/I,000 square feet = 15.54 x 20 trips =
310.8 trips x $360 per trip = $111,888 Traffic Impact Fee.
Amendments to a non-residential building permit which result in 500 additional square
feet or more shall result in additional fees owed based on the added area.
Be
Payment of Traffic Impact Fees for Residential Development
If the City incorporates the facilities described in Resolution 41-96 into its annually
adopted long term Capital Improvement Plan (CIP), then the Traffic Impact Fees for
residential development will be due and payable at the issuance of a building permit.
Prior to the incorporation of these facilities into the CI~P, the Fee will not be due until the
dwelling is issued a certificate of occupancy. The developer may voluntarily pay the full
fee when the building permit is issued or as otherwise appropriate under applicable law.
Payment of Fees in Excess of $50,000
When the amount of payment for Traffic Impact Fees exceeds $50,000 on any ~ven day,
payment shall be made in one of the following ways: 1) paid by check drawn on a bank
within the State of California, 2) paid by cashier's check, or 3) if paid in same day funds
by a wire transfer, the wire transfer must be pre-arranged with the City's Finance
Division.
Payment of Fees in Conjunction with Development Agreements
The Traffic Impact Fees can be collected at an earlier point of time than what is noted in
this section if agreed to by a developer within the terms of a Development Agreement.
Eastern Dublin Traffic Impact Fee Draft
Administrative Guidelines February 16, 1999
Page 7
me
/?'
Payment Records
The Administrative Services Department will record the payment of the Traffic Impact
Fees. Records will be maintained to comply with refunding requirements as prescribed
by State Law. The Administrative Services Department will obtain a re.ailing address
from each payee, as well as the applicable Assessor's Parcel Number, and will note the
payee as the entity or person whose name appears as the applicant for the building permit.
The Finance Division will maintain the records for a period of ten years from their
collection, unless a legal mandate exists for a longer retention.
V. Allotment of Developer Fee Credits
The City understands the practicality of having developers construct and/or contribute some of
the TIfF facilities described in Resolution 41-96 and any subsequent replacement resolution. For
this reason, the City will allot fee credits against the collection of Fees for constructing or
contributing TIF facilities.
Fee Credit / Reimbursement Agreement Required
The allotment of fee credits and/or provision for a reimbursement will only occur in
accordance with a written credit/reimbursement agreement between the City and the
developer responsible for the construction of the TIF facilities or dedication of TIF right
of way.
All fee credits will be granted by use of a standard agreement approved by the
City Attorney.
This credit/reimbursement agreement will be entered into at the time the
improvements are secured and/or the right-of way is accepted for dedication. The
terms of this agreement may, at the City's discretion, be included in the agreement
entered into with the City to secure certain public improvements as contained on a
Final Parcel Map or Final Subdivision Map.
Eastern Dublin Traffic Impact Fee Draft
Administrative Guidelines February 16, 1999
Page 8
The developer will pay an administrative fee, due on the effective date of the
credit/reimbursement agreement, to be established in the City's Master Fee
Schedule. The purpose of this administrative fee is to cover the administrative
costs associated with establishing and monitoring the credit/reimbursement
agreement.
Any credits which are unused ten years following their creation shall convert to a
right to reimbursement. The right to reimbursement terminates ten years after it is
created.
Neither a credit nor the right to reimbursement shall be increased for inflation or
accrue interest.
Credits are transferable, with the written approval of the City Manager, provided
the credit is transferred to a person/firm having a legal interest in real property
within the area subject to the Fee and provided that the administrative transfer fee
is paid, as specified in Section IX.A. of these guidelines.
o
The developer will sign a certificate attached to the fee credit/reimbursement
agreement attesting that it obtained a copy of these administrative guidelines and
they were read and understood.
Applicability of Administrative Guidelines to Pre-Existing Credits Allotted to the
Alameda County Surplus Property Authority
These guidelines do not apply to existing fee credits to which the Alameda County
Surplus Property Authority is entitled under the terms of the A~eement between the City
of' Dublin, the City of Pleasanton, the County of Alameda and the Surplus Property
Authority regarding coordination of certain Freeway Improvements dated March 12,
1991.
Eastern Dublin Traffic Impact Fee Draft
Administrative Guidelines February 16, 1999
Page 9
These guidelines do apply to existing fee credits to which the Alameda County Surplus
Property Authority is entitled under development agreements entered into between
January 1, 1995 and the effective date of these guidelines, to the extent provided for in a
specific fee credit/reimbursement agreement to be entered into between the City and the
Alameda County Surplus Property Authority.
VI. Calculating the Fee Credits
For calculation purposes, the fee credits will be segregated into the following categories:
Category 1'
Category 2:
Category 3:
(NOTE: Category 3 Fee 'suspended effective September 12,
Transportation Development Fee remains in place.)
Eastern Dublin Traffic Improvements
Citywide Traffic Improvements
Regional Transportation
1998, as long as Th-Valley
General
The fee credit/reimbursement agreement will identify the total credit by category for TW
facilities constructed or right of way dedicated for a particular development project. The
contributed land or improvements must be the facilities described in Resolution 41-96
and/or any subsequent replacement resolution. There must be a minimum value of
$50,000 in improvements and/or right of way dedicated before credits will be allotted to a
developer.
Determination of Value
The Public Works Director will determine the value of the contributed facilities based
upon improvement plans submitted by the developer and approved by the City, which
plans shall quantify the size of the TIF facilities to be constructed or dedicated. It is
recognized that in some cases the scope of construction or dedication 'will not exactly
match segments shown in the TIF Report.
Eastern Dublin Traffic Impact Fee Draft
Administrative Guidelines February 16, 1999
Page 10
The credits will be the lesser of the following: a) the estimated cost of the improvements
as noted in Resolution 41-96 and/or any subsequent replacement resolution; or b) the pro-
rated value of the improvement using the standard cost measurements in Resolution 41-
96 and/or any subsequent replacement resolution. The fee credits cannot exceed the cost
estimates of the improvements in the most recent fee study and resolution. In no case
shall the fee credits include facility financing costs.
Illustrative Example 1: Assume that a developer dedicates land for the partial
widening of a major street to offset the Traffic Impact Fees due from a
development project. To qualify for a credit, this roadway widening project must
be included in the TIFF. The land dedication to be applied for a fee credit shall not
include improvements immediately adjacent to the development project, as these
improvements are entirely the responsibility of the developer and are not to be
funded by the Traffic Impact Fee. Resolution 41-96 used a standard cost
measurement of $7 per square foot for right of way dedication in calculating the
Traffic Impact Fees. The fee credits due to the Developer can be calculated by
determining the square footage of the land to be dedicated multiplied by this per
square foot cost measurement.
Illustrative Example 2: A developer constructing single family homes contributes
traffic signal improvements (Category 1 improvement) valued at $200,000.
Assume that the Traffic Impact Fee totals $4,182 per home, which is comprised of
the Category 1 portion of $2,930 and the Category 2 and 3 portions of $1,252.
The credit of $200,000 can only be used against the developer's Category 1 Fee of
$2,930 per home, which will cover approximately 68.25 homes. When the
building permit is issued for the 69th home, the developer will have used up the
credit and will have to begin paying the Category 1 Fee. The Category 2 and 3
portions of the Fee must be paid at the issuance of each building permit for all
homes included in the development, as the Category 1 credit cannot be used to
offset these portions of the Fee.
Eastern Dublin Traffic Impact Fee Draft
Administrative Guidelines February 16, 1999
Page 11
VII.
A.
Use of Fee Credits
Credits expire when used or 10 years from the date
agreement, whichever occurs first.
of the credit/reimbursement
In the event the fee credits are unused following 10 years from the date of the
credit/reimbursement agreement, the fee credit shall convert to a reimbursement fight as
provided for under Sections X and XI of these guidelines.
Co
The value of the credits in each category will be listed in the agreement and tracked by
fee category as they are used by the developer. The City's Finance Division will keep
record of the unused credits and provide this information to the Building Safety Division
at the time fee credits are used.
Do
Credits earned by constructing or dedicating a certain category of improvements can only
be used to offset fees for that category. The balance of the Traffic Impact Fee, which is to
be used for other categories of improvements, will be paid by the developer as specified
in Section IV of these guidelines. Fee credits will not be mixed between the fee
categories. For example, unused credits from Category 1 portion of the Traffic Impact
Fees cannot be used to offset amounts due for Category 2 and Category 3.
Only the developer who builds or dedicates the TI:F facilities will be entitled to the
original or initial credits, until such time as they may be transferred in accordance with
these guidelines.
VIII. Use of Fee Credits Requires Completion of Facility or Performance Bonds
Fee credits cannot be used by the developer until the developer has either:
Dedicated the land or improvements representing the credits to the City; or
Eastern Dublin Traffic Impact Fee Draft
Administrative Guidelines February 16, 1999
Page 12
Provided the City with a performance bond and labor and materials bonds or other
adequate security to insure that the improvements will be constructed prior to the first
Certificate of Occupancy for any building that is a part of the project. The performance
bond or other security shall be in an amount equal to 100% of the engi.neer's estimated
cost to construct the improvements and the labor and materials bond shall be in an
amount equal to 50% of the engineer's estimate. The bonds shall be written by a surety
licensed to conduct business in the State of California and approved by the City's City
Manager.
Illustrative Exa~nple: Assume a developer is in the midst of completing certain
street improvements, which will be dedicated to the City to offset a portion of the
Traffic Impact Fee. The developer supplies the City with a right of way
conveyance, a performance bond and a labor and materials bond for the
completion of the street improvements. Fee credits can be used in advance of
completing the improvements, since the City is assured that the land will be
dedicated and the improvements will be completed.
IX. Transferring of Credits
A. The original holder of credits can request a transfer of credits to a person owning an
interest in property that is subject to the same category of Traffic Impact Fee. Such
transactions shall be subject to an administrative transfer fee, which shall cover the City's
administrative costs associated with the credit transfer. The administrative transfer fee
shall be established in the City's Master Fee Schedule.
B. There is no limit on the number of times that credits can be transferred between
developments.
X. Reimbursement Rights
Reimbursement rights are created from the conversion of fee credits, which occurs 10 years after
the initial date of the credit/reimbursement agreement creating the fee credit. Reimbursement
rights are subject to the following specific guidelines:
Eastern Dublin Traffic Impact Fee Draft
Administrative Guidelines February 16, 1999
Page 13
Ao
Bo
Co
Reimbursement will be only from funds collected as Eastern Dublin Traffic Impact Fees
or from fees collected by Contra Costa County and paid to Dublin for any improvements
also included in the Eastern Dublin Traffic Impact Fee, and will not come from the City's
General Fund.
The City will determine the amount of funds available for reimbursement in each of the
categories on an annual basis.
The procedure for prioritizing reimbursements is described in Section XI of these
guidelines.
XI.
A.
Process for Reimbursement of Reimbursement Rights
Determination of Funds Available for Reimbursement
Within 180 days of the end of each fiscal year, the Administrative Services Department
will make an accounting of all Traffic Impact Fees collected for the fiscal year that just
ended. The Administrative Services Department will also determine the amount of
Traffic Impact Fee funds that are unspent and unencumbered as of the close of the fiscal
year. For funds that are unspent and unencumbered in each fee category, the City will
allocate the necessary amount to be used to finance needed TIF facilities for the
upcoming fiscal year and/or to repay amounts due on outstanding loans for previously
constructed TI~F facilities. The remaining funds'(the reimbursement set-aside) will be
used to reimburse holders of reimbursement rights for facilities already contributed, if any
such reimbursement rights exist.
Allocating the Reimbursement Set-Aside to Outstanding Reimbursement Rights
In the event that the City designates that a reimbursement set-aside is available, fifty
percent will be used to pay the oldest reimbursement right outstanding. If the oldest right
is paid off before this portion of funds is entirely consumed, then the balance of the 50%
will go toward the next oldest right. This portion of reimbursement set-aside funds will
be allocated according to this method until it is exhausted. The other half of the
reimbursement set aside will be allocated to all reimbursement rights on a pro-rata basis
Eastern Dublin Traffic Impact Fee Draft
Administrative Guidelines February 16, 1999
Page 14
according to their amounts outstanding, including the remaining unreimbursed portion of
the oldest agreement. Unused reimbursement set-aside funds will not be carried over to
another fiscal year. The following example illustrates this allocation:
Illustrative Example: During one fiscal year, the City collects $88,000 in Fees for
a certain category of improvements. The total outstanding reimbursements owed
are $100,000 to the following developers:
Developer A (the oldest agreement): $50,000
Developer B: $20,000
Developer C: $30,000
For the upcoming fiscal year, the City retains $44,000 for improvements not built
by developers and allocates $44,000 as the reimbursement set-aside to reduce
current reimbursement obligations. $22,000 (50% of the $44,000) of the
reimbursement set-aside is used to pay Developer A, who holds the oldest
agreement. Developer A now has $28,000 of outstanding reimbursements
(Beginning balance of $50,000 less the $22,000 payment). The other half of the
reimbursement set-aside ($22,000) is allocated proportionally to all three parties
who currently hold reimbursement rights as follows:
Holder Of Current Value Of Percent of Total Amt. of $22,000 Reimbursement
Reimbursement Reimbursement Reimbursements Reimbursement Balance
Owed Outstanding Distributed Remaining
Developer A $ 28,000 35.90% $ 7,898.00 $20,102.00
Developer B 20,000 25.64% $ 5,640.80 $~4,359.20
Developer C 30,000 38.46% $ 8,461.20 $21,538.80
TOTAL $ 78,000 $22,000.00 $56,000.00
XII.
A.
Other Miscellaneous Administrative Guidelines
Procedures for Construction of Designated Facilities by DeveloPers
The improvements to be constructed or dedicated must be submitted for approval in
writing to the Public Works Director no later than thirty calendar days prior to the
approval of the Final Map on the development project. The submittal of the improvement
Eastern Dublin Traffic Impact Fee Draft
Administrative Guidelines February 16, 1999
Page 15
plans and/or description of area to be dedicated shall be in sufficient detail as determined
by the Public Works Director. The Public Works Director will attempt to respond to the
request within twenty business days. The developer constructing or dedicating
improvements .in lieu of paying a portion of the traffic fee must post a performance bond
before the issuance of any grading and/or building permits for the construction of the
improvements
Refunds
Refunds of withdrawn applications will be done in accordance with existing procedures
for paid building permits.
· Payable to entity making payment or property owner of record.
Payable in accordance with State law.
Not applicable to letters of credit, surety bonds or other instruments taken to
secure payment.
CJ
Annual Review of Fee Collection
The City has existing procedures for complying with State law in regards to accounting
for developer fees. The Administrative Services Department will maintain records to
provide the following items:
· A brief description of the Traffic Impact Fee;
An identification of the improvements and the percentage of cost of the
improvements which the Traffic Impact Fee will be expended upon; and
For improvements which are funded and yet to be completed, an identification of
an expected date by which construction of the facilities will commence.
Eastern Dublin Traffic Impact Fee Draft
Administrative Guidelines February 16, 1999
Page 16
Do
Funds and Accounting
The City will incorporate the following items into its accounting procedures, which are
the responsibility of the Administrative Services Department:
· The City will maintain a separate fund for the collection and expenditure of
Traffic Impact fees.
The City will allocate interest to fees collected in the fund based upon month end
cash balances.
· The City will identify in accordance with State Law the beginning and ending
balance of the funds held for the Traffic Impact fee as of fiscal year end.
· The City will identify the amount of fees collected and interest earned in each
fiscal year for Traffic Impact Fees.
· The City will provide a description and accounting of any interfund transfers
made by the Traffic Impact Fee Fund. Although it may be authorized by State
Law, it shall not be City policy to loan TIF monies for another public purpose.
The City will calculate reimbursements annually within 180 days of each fiscal
year end.
The City will file of an annual accounting of all development impact fees,
including the Traffic Impact Fee, with the City Council and for public inspection
within 180 days of each fiscal year end.