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HomeMy WebLinkAboutReso 221-04 EastDublinTIF RESOLUTION NO. 221 - 04 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN * IIIr IIIr l1li * .. ft 'III * REVISING ADMINISTRATIVE GUIDELINES RELATED TO EASTERN DUBLIN TRAFFIC IMPACT FEES WHEREAS, the City Council has established a Traffic Impact Fee (TIF) applicable to development occurring within the Eastern Dublin Specific Plan Area; and WHEREAS, the current TTF was adopted on June IS, 2004, with Resolution 111-04; and WHEREAS, the City Council previously adopted Resolution 23~99 on February 16, 1999, establishing Administrative Guidelines; 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, the adoption of Resolution 111-04, establishing the fee program, requires certain revisions to the Administrative Guidelines in order to maintain conformance with the fee program; and WHEREAS, the previously adopted guidelines have been revised to bring the guidelines into conformance with the fee program; and WHEREAS, the revised Guidelines, as prepared, are consistent with the requirements of Resolution 111-04 and existing laws and regulations; and WHEREAS, "Draft Copies" of the revised 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 revised Eastern Dublin Traffic Impact Fee Administrative Guidelines, attached hereto as Exhibit "A," and by retèrence made a part hereof to supersede all prior versions of the Guidelines. PASSED, APPROVED AND ADOPTED this 16th day of November, 2004. AYES: Councilmembers McCormick, Oravetz, Sbranti and Zika, and Mayor Lockhart NOES: None ABSENT: None ABSTAIN: None ~::~~ Deputy City Clerk G:\CC-MTUS\2004-qtr4\Nov\11-16"()4\Rerso-ED11F reviR£.IX>C (Item 7.1) EXHIBIT "A" OF RESOLUTION 22.' -04 CITY OF DUBLIN EASTERN DUBLIN TRAFFIC IMP ACT FEE ADMINISTRATIVE GUIDELINES (Revised November 16, 2004) 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 111-04 and any subsequent replacement resolution. The Eastern Dublin Traffic Impact Fee includes three categories of improvements and facilities. · Category I improvements and facilities are those located exclusively in the Eastern Dublin Specific Plan arca. · 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 Tri-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 (TIF 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 transfcr the credit within ten years, then the credit will convert to a reimbursement right. At the end of the ten-year period, the developer may elect to extend the credit for an additional five years. The Eastern Dublin Traffic Impact Fee Administrative Guidelines November 16, 2004 Page 2. combination of credit and reimbursement rights will terminate twenty-five years after the effective date ofthe agreement creating such rights. 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 Eastem Dublin Spccific 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, fue 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. Fee Calculation A. 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 assigned to the project. Unless otherwise provided, the Fee will be colIected with the payment for the building permit for the development project. Eastern Dublin Traffic Impact Fee Administrative Guidelines November 16,2004 Page 3. B. 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. C. 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 111-04 (i.e. Low Density Residential, Medium Density Residential, MediumlHigh 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 C" of Resolution 111-04. However, if the Public Works Director determines that the land use of the development project is not appropriately reflected on "Exhibit C" of Resolution 111-04, 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 for 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 additional Fees owed as a result of a different final use of the property will be calculated Eastern Dublin Traffic Impact Fee Administrative Guidelines November 16,2004 Page 4. and collected at the time that a building permit is isslled 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 projected 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 C to Resolution 111-04), 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. D. 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. 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 '. Eastcrn Dublin Traffic Impact Fee Administrative Guidelines November 16, 2004 Page S. mcrease the destroyed or demolished building's trips based on the "Estimated Weekday Vehiele Trip Generation Rate" as applied to the original building. 2. Partial Exemption. A partial exemption may be granted based on prior 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. Fee Collection A. 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 & Safety Division. The number of estimated average weekday vehicle trips, determined as described in Section lIl.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 C" of Resolution 111-04. Following is an example: Non-Residential Fee Example: Assume that the development project is a 15,540 square foot standard 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/l,OOO square feet = 15.54 x 20 trips = 310.8 trips x $360 per trip = $111,888 Traffic Impact Fee. Eastern Dublin Traffic Impact Fee Administrative Guidelines November 16,2004 Page 6. 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. B. Payment of Traffic Impact Fees for Residential Development If the City Incorporates the facilities described in Resolution 111-04 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 pennil. Prior to the incorporation of these facilities into the CIP, 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 pennit is issued or as otherwise appropriate under applicable law. C. Payment of Fees in Excess of $50,000 When the amount of payment for Traffic Impact Fees exceeds $50,000 on any given 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. D, 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. E. 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 mailing 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 col1ection, unless a legal mandate exists for a longer retention. , Eastern Dublin Traffic Impact Fee Administrative Guidelines November 16,2004 Page 7. V. Allotment of Developer Fee Credits The City understands the practicality of having developers construct and/or contribute some of the nF facilities described in Resolution 111-04 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. A. Fee Credit / Reimbursement Agreement Required The allotment of fee credits and/or provision for a reimbursement will only occur in accordance with a written crediVreimbursement agreement between the City and the developer responsible for the construction of the TIF facilities or dedication of TIF right of way. 1. All fee credits will be granted by use of a standard agreement approved by the City Attorney. 2. 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. 3. 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. 4. Any credits, which are unused ten years following their creation, shall convert to a right to reimbursement. The right to reimbursement terminates fifteen years after it is created. Eastern Dublin Traffic Impact Fee Administrative Guidelines November 16, 2004 Page 8. Alternatively, credit holders may elect by providing written notice to the City Manager to extend the term of the credit for an additional five years. Notices of the election to extend the term must be received no sooner than one year prior to and no later than six months prior to the conversion of the credits to a right to reimbursement. If the credit holder elects to extend the term of the credit for five years, then any credits remaining at the end of the five-year extension shall convert to a right of reimbursement. The right to reimbursement terminates ten yeaTS after it is created. All rights to reimbursement shall terminate twenty-five yeaTS after the effective date of the agreement creating such rights. S. Neither a credit nor the right to reimbursement shaII be increased for inflation or accrue interest. 6. Credits arc 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 lX.A. of these guidelines. 7. 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. B. 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 Agreement 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 Administrative Guidelines November 16, 2004 Page 9. These guidelines do apply to existing fee credits to which the Alameda County Surplus Property Authority is entitled under developmCllt 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 I: Eastern Dublin Traffic Improvements Category 2: Citywide Traffic Improvements Category 3 : Regional Transportation (Note: Category 3 Fee suspended effective September 12, 1998, as long as Tri-Valley Transportation Development Fee remains in place.) A. General The fee credit/reimbursement agreement will identifY the total credit by category for TIT facilities constructed or right of way dedicated for a particular development project. The contributed land or improvements must be the facilities described in Resolution 111-04 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. B, Determination of Value The Public Works Director will determine the value of the contributed facilities based upon improvemCllt 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. The credits will be the lesser of the following: a) the estimated cost of the improvements as noted in Resolution 111-04 and/or any subsequent replacement resolution; or b) the pro-rated value of the improvement using the standard cost measurements in Resolution 111-04 and/or any Eastern Dublin Traffic Impact Fee Administrative Guidelines November 16,2004 Page 10. 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 TlF. 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 111-04 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 I improvement) valued at $200,000. Assume that the Traffic Impact Fee totals $6,950 per home, which is comprised of the Category I portion of $4,700 and the Category 2 portion of $2,250. The credit of $200,000 can only be used against the developer's Category 1 Fee of $4,700 per home, which will cover approximately 42.55 homes. When the building permit is issued for the 43,d home, the developer will have used up the credit and will have to begin paying the Category 1 Fee. The Category 2 portion of the Fee must be paid at the issuance of each building permit for all homes included in the development, as the Category I credit cannot be used to offset these portions of the Fee. VII. Use of Fee Credits A. Credits expire when used or ten years from the date of the credit/reimbursement agreement (unless extended an additional five years at the request of the credit holder), whichever occurs first. B. In the event the fee credits are unused following ten years from the date of the credit/reimbursement agreement (or fifteen years if extended at the request of the credit Eastern Dublin Traffic Impact Fee Administrative Guidelines November 16,2004 Page 11. holder), the fee credit shall convert to a reimbursement right as provided for under Section X and XI of these guidelines. C. 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. D. 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 ofthese guidelines. Fee credits will not be mixed between the fee categories. For example, unused credits from Category I portion of the Traffic Impact Fees cannot be used to offset amounts due for Category 2 and Category 3. E. Only the developer who builds or dedicates the TIP facilities will be entitled to the original or initial credits, until such time as they may be transferred in accordance with thcse 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: 1. Dedicated the land or improvements representing the credits to the City; or 2. 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 engineer'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. Eastern Dublin Traffic Impact Fee Administrative Guidelines November 16, 2004 Page 12. Illustrative Example: 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 bc 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 fÌ'Om the conversion of fee credits, which occurs ten years after the initial date of the credit/reimbursement agreement creating the fee credit (unless the credits have been extended an additional five years at the request of the credit holder). Reimbursement rights are subject to the following specific guidelines: A. The reimbursement rights shall expire twenty-five years after the initial date of the credit! reimbursement agreement creating the fee credit. B 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. Eastern Dublin Traffic Impact Fee Administrative Guidelines November 16,2004 Page 13. C. The City will determine the amount of funds available for reimbursement in each of the categories on an annual basis. D. The procedure for prioritizing TCimbursements IS described III Section XI of these guidelines. XI. Process for Reimbursement of Reimbnrsement Rights A. 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 Departmcnt will also determine the amount of Traffic Impact Fee funds that are unspent and uneneumbcred 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 TIF 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. B. 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 wi\1 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 balancc 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 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: Eastern Dublin Traffic Impact Fee Administrative Guidelines November 16,2004 Page 14. lllustrative 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): Developer B: Developer C: $50,000 $20,000 $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: Holde, of Current Value of Pe..ent of Total Am!. of $22,000 Reimbursement Reimbursement Reimbursement Reimbursement. Reimbursement Balaoce Owed Outstandiol! Distributed Rematnloi!" Developer A $28,000 35.90% $7,898.00 $20,102.00 Developer B $20,000 25.64% $5,640.80 $14,359.20 Developer C $30.000 38.46% $8.461.20 $21.538.80 TOTAL $78,000 $22,000.00 $56,000.00 XII. Other Miscellaneous Administrative Guidelines A. 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 plans and/or description of area to be dedicated shall be in sufficient detail as determined by the Public Works Director. The Pubic 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 '. Eastern Dublin Traffic Impact Fee Administrative Guidelines November 16,2004 Page 15. performance bond before the issuance of any grading and/or building permits for the construction ofthe improvements. B. Refnnds 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. C. 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. D. 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 separate funds for the collection and expenditure of Traffic Impact Fees as follows: Category I: Eastern Dublin Traffic Improvements Catcgory II: City-Wide Traffic Improvements Category II (Non-Transit Center Residential Surcharge): Eastern Dublin Transit Center Parking The City will allocate interest to fees collected in the funds based upon month end cash balances. Eastern Dublin Traffic Impact Fee Administrative Guidelines November 16,2004 Page 16. · The City will identify in accordance with State Law the beginning and ending balance ofthe 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 Funds. 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 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.