Attachment 1 - AB 1600 2017 Report1
TOWN OF LOS GATOS
ANNUAL STATUS REPORT ON RECEIPT AND USE OF DEVELOPMENT IMPACT FEES
JUNE 30, 2017
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 (07/01/2016)$2,610,528
Source of Funds
Fees Collected FY 16/17 51,152
Interest Earned FY 16/17 21,335
Total Source of Funds $2,683,015
Use of Funds
Capital Outlay :
Crosswalk Improvements $94
Cut-Thru Traffic Mitigation 138,599
Project Overhead Business Service Charge 3,097
Total Use of Funds 141,791
Expenses Occurred in FY 2015/16 , Paid in July of FY 2016/17 13,695
Expenses Occurred in FY 2016?17, Paid in July of FY 2017/18 2,402
Ending Cash Balance (07/01/2017) Pre-Final Audit $2,529,931
Designated Future Projects:
Per FY 17/18 through 21/22 Capital Improvement Plan:
Blossom Hill Road/Cherry Avenue Intersection Impvts (FY 2017/18)$500,000
Los Gatos Boulevard/Shannon Improvements (FY 2017/18)20,000
Monument Control Network Upgrade (FY 2017/18)10,000
Crosswalk Improvements- Santa Cruz/Blosssom Hill (FY 2017/18)50,000
Crosswalk Lighting Upgrade (FY 2017/18)42,666
Cut-Through Traffic Mitigation (FY 2017/18)271,092
Traffic Signal Modernization (FY 2017/18- FY 2021/22)1,363,659
Administration and Program Support (FY 2017/18- FY 2021/22)50,000
Total CIP and Operating Budget Commitments 2,307,417
Potential Project List (Estimates Only) per Unfunded List (Additional Unfunded Projects are Located in the Operating Budget)
Blossom Hill Rd and University Ave Intersection Improvements (Future Project - Pending Funding)$1,080,000
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
Total Potential Project List $4,580,000
Total Designated and Unfunded Projects $6,887,417
Current Funding Shortfall ($4,357,486)
TRAFFIC IMPACT MITIGATION FEES FUND
ATTACHMENT 1
2
TOWN OF LOS GATOS
ANNUAL STATUS REPORT ON RECEIPT AND USE OF DEVELOPMENT IMPACT FEES
JUNE 30, 2017
(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 (07/01/2016)$0
Source of Funds
Fees Collected FY 16/17 149,763
Interest Earned FY 16/17 (Funds expended upon receipt)-
Total Source of Funds $149,763
Use of Funds
Business Services Charge
Capital Outlay :
Street Repair and Resurfacing Project FY 16/17 $1,490,573
Total Use of Funds $1,490,573
Ending Cash Balance (7/01/2017) Pre-Final Audit ($1,340,809)
Designated Future Projects
Per FY 17/18 through FY 21/22 Capital Improvement Plan:
Street Repair and Resurfacing Project $9,544,925
Total Designated Future Projects $9,544,925
Current Funding Shortfall ($10,885,734)
CONSTRUCTION IMPACT ACTIVITY FEE
3
TOWN OF LOS GATOS
ANNUAL STATUS REPORT ON RECEIPT AND USE OF DEVELOPMENT IMPACT FEES
JUNE 30, 2017
(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 (07/01/2016)$3,035,574
Source of Funds
Fees Collected FY 16/17 $668,359
Interest Earned FY 16/17 28,128
Total Source of Funds $3,732,061
Use of Funds
Staff Administration 233,441
Total Use of Funds $233,441
Ending Cash Balance (7/01/2016) Pre-Final Audit $3,498,620
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 ($1,301,380)
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.