Attachment 1 - FY20-21 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, 2021
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 (07/01/2020)2,636,215
Source of Funds
Fees Collected FY 20/21 18,087
Interest Earned FY 20/21 32,658
Total Source of Funds $2,686,961
Use of Funds
Capital Outlay:
Traffic Signal Modernization $207,240
Highway 17 Bicycle & Pedestrian Bridge-Design 147,195
Traffic Mitigation (Admin Support)10,000
Total Use of Funds $364,435
Expenses Occurred in FY 2020/21, Paid in July of FY 2021/22 122,158
Ending Cash Balance (6/30/2021) Pre-Final Audit $2,444,683
Designated Future Projects:
Per FY 21/22 through 25/26 Capital Improvement Plan:
Traffic Signal Modernization $870,949
Bicycle & Pedestrian Improvements 33,650
Total CIP and Operating Budget Commitments $904,599
Potential Project List (Estimates Only)
Transportation Impact Fee Nexus Study (Future Project - Pending Funding)$400,000
Highway 9 – N. Santa Cruz Intersection Improvements (Future Project - Pending Funding)1,260,000
Highway 17 at Highway 9 Interchange (Future Project - Pending Funding)2,000,000
Complete Streets Improvements Pollard Ave (Future Project - Pending Funding)1,000,000
Total Potential Project List $4,660,000
Total Designated and Unfunded Projects 5,564,599
Current Funding Shortfall ($3,119,916)
TRAFFIC IMPACT MITIGATION FEES FUND
TOWN OF LOS GATOS
ANNUAL STATUS REPORT ON RECEIPT AND USE OF DEVELOPMENT IMPACT FEES JUNE 30, 2021 (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 (07/01/2020)$0
Source of Funds
Fees Collected FY 20/21 425,170
Interest Earned FY 20/21 (Funds expended upon receipt)-
Total Source of Funds $425,170
Use of Funds
Business Services Charge
Capital Outlay:
Street Repair and Resurfacing Project FY 20/21 234,246
Total Use of Funds 234,246
Ending Cash Balance (6/30/2021) Pre-Final Audit $190,924
Designated Future Projects
Per FY 21/22 through FY 25/26 Capital Improvement Plan:
Street Repair and Resurfacing Project $7,725,803
Total Designated Future Projects $7,725,803
Current Funding Shortfall ($7,534,879)
CONSTRUCTION IMPACT ACTIVITY FEE
TOWN OF LOS GATOS
ANNUAL STATUS REPORT ON RECEIPT AND USE OF DEVELOPMENT IMPACT FEES JUNE 30, 2021 (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.
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.
Beginning Cash Balance (07/01/2020)$3,795,807
Source of Funds
Fees Collected FY 20/21 -
Interest Earned FY 20/21 52,362
Total Source of Funds $3,848,168
Use of Funds
Program Operating Expense 249,016
Staff Administration 23,000
Total Use of Funds $272,016
Ending Cash Balance (6/30/2021) Pre-Final Audit $3,576,152
Designated Future Projects:
Affordable Housing Loans - Dittos Lane (11/3/2020 Council Meeting)$1,200,000
Anticipated Construction Permit Support $50,000
Total Designated Future Projects $1,250,000
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 Housing and House Keys Program Services (Future Project - Pending Funding -5 Year Total)600,000
Total Potential Future Projects $4,300,000
Current Funding Shortfall ($1,973,848)
BELOW-MARKET PRICED HOUSING PROGRAM IN-LIEU FEES