To: Honorable Mayor and Members of City Council
From: Anne Cardwell, Finance Director
Prepared By: Seth Anderson, Senior Budget Analyst
TITLE:
Title
Annual Report on Development Impact Fees for Fiscal Year 2021
LABEL
RECOMMENDED ACTION:
Recommendation
Receive the Annual Report on Development Impact Fees with Required Five-Year Findings for Fiscal Year Ending June 30, 2021.
Body
DISCUSSION:
The City of Napa charges fees on new development to fund public improvements and amenities such as streets, traffic signals, bike lanes, and sidewalks. These fees are commonly known as development impact fees. As required by law, the fees are accounted for separately in order to avoid any commingling of the fees with other revenues and funds. Any interest income earned by the fee revenues is deposited into the individual revenue account and must be expended only for the purpose for which the fee was originally collected.
Government Code Section 66006(b)(1) requires the City of Napa to make available to the public within 180 days after the last day of each fiscal year, the following information:
a) A brief description of the type of fee in the account or fund.
b) The amount of the fee.
c) The beginning and ending balance of the account or fund.
d) The amount of the fees collected and the interest earned.
e) An identification of each public improvement on which fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of the public improvement that was funded with fees.
f) An identification of the approximate date by which the construction of the public improvement will commence if the local agency determines that sufficient funds have been collected to complete financing on an incomplete public improvement.
g) A description of each interfund transfer or loan made from the account or fund.
h) The amount of refunds made pursuant to subdivision (e) Section 66001 and any allocation pursuant to subdiv...
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