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Attachment 1ATTACHMENT 1 TOWN OF LOS GATOS ANNUAL STATUS REPORT ON RECEIPT AND USE OF DEVELOPMENT IMPACT FEES JUNE 30, 2018 Traffic Impact Mitigation Fee: The Traffic Impact Mitigation Fee assures that each new development or expansion of use pays its fair share of the transportation improvements needed to accommodate the cumulative traffic impacts. The fee, $930 per new average daily trip generated, is paid in full to the Town Building Department prior to issuance of the building permit for new development or expansion of use. The collected fee is held in the Traffic Mitigation Fee Fund. The Traffic Mitigation Fund should be used solely to fund transportation improvement projects related to mitigating the impacts of new development. The funds cannot be used for routine repair or maintenance. Beginning Cash Balance (07/01/2017)$2,529,932 Source of Funds Fees Collected FY 17/18 97,881 Interest Earned FY 17/18 31,945 Total Source of Funds $2,659,758 Use of Funds Capital Outlay: Bike & Pedestrian Improvement $40,972 Crosswalk Improvements 35,775 Crosswalk Lighting Upgrades 5,437 Cut-Thru Traffic Mitigation 23,123 Project Overhead Business Service Charge 10,000 Traffic Signal Modernization 4,200 Total Use of Funds $119,507 Expenses Occurred in FY 2016/17 , Paid in July of FY 2017/18 2,402 Expenses Occurred in FY 2017/18, Paid in July of FY 2018/19 58,450 Ending Cash Balance (07/01/2018) Pre-Final Audit $2,596,299 Designated Future Projects: Per FY 18/19 through 22/23 Capital Improvement Plan: Blossom Hill Road/Cherry Avenue Intersection Impvts (FY 2018/19)$500,000 Los Gatos Boulevard/Shannon Improvements (FY 2018/19)20,000 Monument Control Network Upgrade (FY 2018/19)10,000 Hwy 9/University Intersection (FY 2018/19)66,963 Crosswalk Improvements- Santa Cruz/Blosssom Hill (FY 2018/19)50,000 Crosswalk Lighting Upgrade (FY 2018/19)50,000 Traffic Signal Modernization (FY 2018/19- FY 2020/21)1,095,714 Bicycle & Pedestrian Improvements (FY 2018/19)75,000 Cut-Through Traffic Mitigation (FY 2018/19)119,894 Highway 17 Bicycle & Ped Bridge (FY 2018/19)147,005 Total CIP and Operating Budget Commitments 2,134,576 Potential Project List (Estimates Only) per Unfunded List (Additional Unfunded Projects are Located in the Operating Budget) Los Gatos- Almaden Road Improvements (Future Project - Pending Funding)1,500,000 Los Gatos Blvd Widening , New Sidewalks, and Bike Lanes (Future Project - Pending Funding)2,000,000 Wood Road Gateway on Santa Cruz Avenue - Roundabout 600,000 Los Gatos-Saratoga Road (Highway 9)/Los Gatos Creek Trail Connection - New path and bridge 500,000 Sidewalk infill - Van Meter, Fisher, & Blossom Hill Schools 500,000 Westbound Lark Avenue to Highway 17 northbound ramps 3,375,000 Lark Avenue/Los Gatos Boulevard intersection improvements - add third left turn lanes 1,080,000 Complete Street improvements - Lark Avenue from Garden Hill Drive to Los Gatos Boulevard 1,050,000 Complete Street improvements - Highway 9 from University Avenue to Los Gatos Boulevard 325,000 Complete Street improvements - Winchester Boulevard from Blossom Hill Road to Lark Avenue 750,000 Total Potential Project List 11,680,000 Total Designated and Unfunded Projects 13,814,576 Current Funding Shortfall ($11,218,277) TRAFFIC IMPACT MITIGATION FEES FUND TOWN OF LOS GATOS ANNUAL STATUS REPORT ON RECEIPT AND USE OF DEVELOPMENT IMPACT FEES JUNE 30, 2018 (Continued) Construction Impact Activity Fee: Construction Impact Activity Fee is assessed on construction projects based on the square foot size of the project at a rate of $1.17 per square foot. These fees are intended to recover the damage caused to Town streets by construction traffic. The collected fee is held in the General Fund Appropriated Reserves. Beginning Cash Balance (07/01/2017)$0 Source of Funds Fees Collected FY 17/18 204,391 Interest Earned FY 17/18 (Funds expended upon receipt)- Total Source of Funds $204,391 Use of Funds Business Services Charge Capital Outlay: Street Repair and Resurfacing Project FY 17/18 $27,496 Total Use of Funds $27,496 Ending Cash Balance (7/01/2018) Pre-Final Audit $176,895 Designated Future Projects Per FY 18/19 through FY 22/23 Capital Improvement Plan: Street Repair and Resurfacing Project $7,380,275 Total Designated Future Projects $7,380,275 Current Funding Shortfall ($7,203,380) CONSTRUCTION IMPACT ACTIVITY FEE TOWN OF LOS GATOS ANNUAL STATUS REPORT ON RECEIPT AND USE OF DEVELOPMENT IMPACT FEES JUNE 30, 2018 (Continued) Below-Market Priced (BMP) Housing Program In-Lieu Fee: BMP In-Lieu Fees are collected from residential development projects with five (5) or more units when the construction of the BMP unit is impractical or there are unusual circumstances that make the construction of the unit inconsistent with Town policy. The required in-lieu fee is to be paid to the Town prior to issuance of the certificate of occupancy. The BMP In-Lieu Fee is equal to the amount of six (6) percent of the building permit valuation for the entire project. The collected fees are held in the General Fund BMP Housing liability account and are restricted to be used solely for BMP Housing Program activities. Beginning Cash Balance (07/01/2017)$3,498,620 Source of Funds Fees Collected FY 17/18 $185,247 Interest Earned FY 17/18 43,719 Total Source of Funds $3,727,586 Use of Funds Staff Administration 23,000 Total Use of Funds $23,000 Ending Cash Balance (7/01/2018) Pre-Final Audit $3,704,586 Potential Future Projects Low and Moderate Income Housing (Future Project - Pending Funding)$3,000,000 Reacquisition of Distressed/Foreclosed Properties (Future Project - Pending Funding)600,000 Hello House Program Services (Future Project - Pending Funding -5 Year Total)1,200,000 Total Potential Future Projects $4,800,000 Current Funding Shortfall ($1,095,414) BELOW-MARKET PRICED HOUSING PROGRAM IN-LIEU FEES Other Required Disclosures: As required by law, no inter-fund (loans/transfers) were made doing the reporting period and no refund were necessary as all fees collected have a current funding short fall status as presented in the Annual Status Report.