Attachment 1 - FY18-19 Annual Status Report on Receipt and Use of Development Impact FeesATTACHMENT 1
TOWN OF LOS GATOS
ANNUAL STATUS REPORT ON RECEIPT AND USE OF DEVELOPMENT IMPACT FEES
JUNE 30, 2019
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, $958 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 (07/01/2018)$2,596,299
Source of Funds
Fees Collected FY 18/19 43,704
Interest Earned FY 18/19 44,161
Total Source of Funds $2,684,163
Use of Funds
Capital Outlay:
Crosswalk Improvements $14,131
Crosswalk Lighting Upgrades 29,192
Cut-Thru Traffic Mitigation 2,910
Project Overhead Business Service Charge 10,000
Traffic Signal Modernization 18,394
Total Use of Funds $74,626
Expenses Occurred in FY 2017/18 , Paid in July of FY 2018/19 58,450
Expenses Occurred in FY 2018/19, Paid in July of FY 2019/20 4,219
Ending Cash Balance (07/01/2019) Pre-Final Audit $2,555,306
Designated Future Projects:
Per FY 19/20 through 23/24 Capital Improvement Plan:
Los Gatos Boulevard/Shannon Improvements (FY 2019/20)$20,000
Cut Through Traffic /Wood Road Roundabout (FY 2019/20)228,136
Highway 17 Bicycle & Ped Bridge (FY 2019/20)147,005
Bicycle & Pedestrian Improvements (FY 2019/20)2,400
Traffic Signal Modernization (FY 2019/20- FY 2020/21)978,289
Highway 17/9 Interchange and Capacity Improvements (FY 2019/20)600,000
Total CIP and Operating Budget Commitments 1,975,830
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 6,555,830
Current Funding Shortfall ($4,000,524)
TRAFFIC IMPACT MITIGATION FEES FUND
TOWN OF LOS GATOS
ANNUAL STATUS REPORT ON RECEIPT AND USE OF DEVELOPMENT IMPACT FEES
JUNE 30, 2019
(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 (07/01/2018)$0
Source of Funds
Fees Collected FY 18/19 181,687
Interest Earned FY 18/19 (Funds expended upon receipt)-
Total Source of Funds $181,687
Use of Funds
Business Services Charge
Capital Outlay:
Street Repair and Resurfacing Project FY 18/19 $181,687
Total Use of Funds $181,687
Ending Cash Balance (7/01/2019) Pre-Final Audit $0
Designated Future Projects
Per FY 19/20 through FY 23/24 Capital Improvement Plan:
Street Repair and Resurfacing Project $10,667,885
Total Designated Future Projects $10,667,885
Current Funding Shortfall ($10,667,885)
CONSTRUCTION IMPACT ACTIVITY FEE
TOWN OF LOS GATOS
ANNUAL STATUS REPORT ON RECEIPT AND USE OF DEVELOPMENT IMPACT FEES
JUNE 30, 2019
(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 (07/01/2018)$3,704,586
Source of Funds
Fees Collected FY 18/19 $163,433
Interest Earned FY 18/19 66,505
Total Source of Funds $3,934,523
Use of Funds
Staff Administration 23,000
Total Use of Funds $23,000
Ending Cash Balance (7/01/2019) Pre-Final Audit $3,911,523
Potential Future Projects
Low and Moderate Income Housing (Future Project - Pending Funding)$3,000,000
Reacquisition of Distressed/Foreclosed Properties (Future Project - Pending Funding)700,000
Hello House Program Services (Future Project - Pending Funding -5 Year Total)600,000
Total Potential Future Projects $4,300,000
Current Funding Shortfall ($388,477)
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.