CITY COUNCIL REGULAR MEETING AGENDA PACKET

Page 3 of 7 within the District is not able to accommodate all of its required parking onsite, the fee is collected to purchase land and to construct public parking lots. Fund balance, revenues, expenditures, and fund transfers for fiscal years 2019/20 through 2023/24 are detailed in Attachment 2. Lower Income Housing Fund (Fund 122) – This fund is utilized to account for the receipt of Lower Income Housing fees and their disbursement for lower income housing programs, services, and/or projects. Fund balance, revenues, expenditures, and fund transfers for fiscal years 2019/20 through 2023/24 are detailed in Attachment 2 for information only, as Lower Income Housing fees are not subject to AB 1600. Unexpended Funds After Five Years Government Code section 66001(d) requires that five years after collecting a development fee subject to AB 1600 and SB 1693, a local agency shall make findings that year and every five years thereafter, with respect to any portion of the fee remaining unexpended. The findings must identify the purpose for which the fee is to be used and demonstrate a nexus between the fee and the purpose for which it was originally charged. The findings must also identify all sources and amounts of funding for completion of the improvement and the approximate date that the improvement will be fully funded. After five years, a local agency is also required to refund the unexpended portion of the fee, and any accrued interest, for which a need cannot be demonstrated; however, when a city makes appropriate findings, including that the purpose for the developer impact fee remains, the city may retain the fee. Staff reviewed development impact fees collected five or more years ago and has determined that all funds held for more than five years are necessary to complete identified projects, as shown below by fund. The percent funded by the impact fees was established in the nexus study that established the relevant fee. As required by AB 1600 and SB 1693, this annual report has been prepared showing the status of development impact fees held as of June 30, 2024, and incorporated into a resolution (Attachment 1) for the City Council's adoption. Public Facilities Fund (Fund 203) Amount collected in previous fiscal years subject to 5-year limitation: $0 Funds are 100% expended as accounted for in Attachment 2. Park Development Fund (Fund 222) Amount collected in previous fiscal years subject to 5-year limitation: $6,326,003 Funds are committed to the following project: • New Community Park Site Acquisition Reserve – Project #03728 Description: This project involves identifying and procuring potential sites to construct a new community park in the northeast area of the city and establishing a reserve to eventually acquire an appropriate site of approximately 30 to 40 acres of contiguous land. Amenities could include youth area with various play equipment, a picnic area, open field play space, an exercise course, restrooms, pathways, and landscaping. The exact type and mix of uses for this site will be determined through a Park Master Plan process, managed by staff and the Parks and Recreation Commission. Approximate project completion date: Ongoing Project cost: $3,501,477 Source of funding: Park Development Fund % funded by development impact fees: 100% Page 241 of 893