Desk Item
PREPARED BY: STEPHEN CONWAY
Finance Director
Reviewed by: Town Manager, Assistant Town Manager, and Town Attorney
TOWN OF LOS GATOS
COUNCIL AGENDA REPORT
MEETING DATE: 12/04/2018
ITEM NO: 2
DESK ITEM
DATE: DECEMBER 4, 2018
TO: MAYOR AND TOWN COUNCIL
FROM: LAUREL PREVETTI, TOWN MANAGER
SUBJECT: ACCEPT FISCAL YEAR (FY) 2017/18 STATUS REPORT ON RECEIPT AND USE
OF DEVELOPMENT IMPACT FEES
REMARKS:
In response to an inquiry from a Council Member, staff has prepared the following information.
How much Traffic Impact Fees have been collected since July 1, 2018 and what is the
actual total in the account?
$8,779.20 was collected on 10/09/18. The total amount in this account as of 12/04/18 is
$2,469,881.09.
What are the Traffic Impact Fees for the North 40 Phase 1 applications and have they
been paid yet?
The Traffic Impact Fees for the Phase 1 project will be approximately $1.5M. These fees will
be calculated based on the final square footage of the project once it is determined. At this
point, the fees have not been assessed.
Once paid, what is the process for the Town Council to decide the projects that would be
supported by these fees? When is this discussion expected to occur?
Traffic Impact Mitigation Fees are identified in the Municipal Code and supporting Traffic
Impact Policy. These provide for credits to developers who construct projects that are
included in the identified list of projects that form the fee. For the North 40 Phase 1, staff
anticipates the cost of these projects will exceed the fee, resulting in a full credit back to the
developer. Future developments on the North 40 site may contribute their fair share to the
reimbursement for the mitigation-related projects as well and these amounts will be
determined by the type and size of future phases. The calculation of the construction costs
PAGE 2 OF 2
SUBJECT: ACCEPT FISCAL YEAR (FY) 2017/18 STATUS REPORT ON RECEIPT AND USE OF
DEVELOPMENT IMPACT FEES
DATE: DECEMBER 4, 2018
https://legistarweb-production.s3.amazonaws.com/uploads/attachment/attachment/277532/Desk_ItemFees.docx 12/4/2018
12:56 PM SLL
REMARKS (continued):
and the fees are in process now and will likely result in a reimbursement agreement for
Council consideration in the early part of 2019.
Attachment previously received with December 4, 2018 Staff Report:
1. FY 2017/18 Annual Status Report on Receipt and Use of Development Impact Fees.