HomeMy WebLinkAboutItem 4.03 Developer Deposits (2)
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CITY OF DUBLIN
AGENDA STATEMENT
CITY COUNCIL MEETING DATE: September 13, 1993
SUBJECT: Annual Report of Developer Deposits Held For Construction
of Public Improvements: Pursuant to Government Code
~ Section 66001 (AB 1600)
~~ (prepare~ by: Paul S. Rankin, Assistant city Mgr)
EXHIBITS ATTACHED: None
RECOMMENDATION: .~ccept the report.
FINANCIAL STATEMENT: All Developer Paid Deposits For Improvements
currently held by the City, are anticipated to be utilized for authorized
projects.
DESCRIPTION: A city is authorized under State Law to require
development applicants to contribute fees towards off-site improvements ,
which are needed as a result of the new development. In the event that the
City has not expended fees which were collected more than 5 years ago,
certain findings must be made by the City Council, or the fees are forfeited.
The City of Dublin Financial Records track all Developer Improvement Fees in
a separate account, based on the planned improvement project. In some cases
a single development project may impact more than one project. As of June
30, 1993 the following balances exist for unexpended Developer Contributions:
FUND 300
ACCOUNT I
1000-331-001
PROJECT
(9696) Dublin Blvd Widening
Donlon to village Parkway
6/30/93 BALANCE
$ 56,344.56
1000-331-005
(9655) Dougherty Rd Im~vts South
. of Southern Pacif1c ROW
$ 12,298.90
1000-331-006
(9686) Road Parallel To Southern
Pacific ROW From Dougherty Rd
to Dublin Blvd Extension $ 12,400.00
(9687) New Street Parallel to and
South of Dublin Blvd (Between
Golden Gate & Regional) $ 4,800.00
(9689) Widen Dougherty Road North
of Amador Valley Blvd. $ 9,328.00
(9656) Traffic Signals village Pkwy
@ Brighton, Tamarack $ 6.377.00
Total De~sits Subject
CGC Sect10n 66001
$101.548.46
1000-331-007
1000-331-008
1000-331-010
Each year that there are eligible project expenditures, the balance remaining
on deposit is reduced. In the event that the balance on deposit is from more
than one source, the oldest deposit is expensed first. This helps to reduce
the potential for reaching the five year period without expending the funds.
The following chart demonstrates the timing of the city receiving developer
deposits, which were held as of June 30, 1993. The account I at the top of
the chart relates to the last three digits of the accounts noted above:
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ITEM NO.
4.7
COPIES TO:
CITY CLERK
FILE ~
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DEVELOPER GENERATED PUBLIC IMPROVEMENT DEPOSITS
AS OF JUNE 30, 1993
1989-90
1991-92
$41,257.56
1992-93
$15,087.00
PROJECT
TOTAL
$56,344.56
001 Dublin Blvd
Widening
005 Dougherty Rd $12,298.90
006 Rd Adj SP ROW $12,400.00
007 Parallel Rd
S/O Dublin Blvd $ 4,800.00
008 widen Dougherty
nlo AVB $ 9,328.00
010 village Pkwy
signals $ 6,377.00
$12,298.90
$12,400.00
$ 4,800.00
$ 9,328.00
$ 6,377.00
As this chart indicates no deposits are in jeopardy of exceeding the five
year limitation on the commitment of the funds. All of the funds which were
collected in Fiscal Year 1989-90 were received on January 2, 1990.
Therefore, the city council will only need to make additional findings in the
event these funds are not expended by January of 1995.
Since no formal action is required by the city council at this time, Staff
recommends that the report be entered into the records held by the ci ty
Clerk.