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.