Title
Adopt a Resolution to:
a. Approve a report on the status of development traffic impact fees for fiscal year ending June 30, 2021; and
b. Adopt findings, in accordance with Government Code section 66000, et seq. that the need for the improvements for which the fees are being collected still exists, and as such the funds will be retained.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors adopt a Resolution to:
a. Approve a report on the status of development traffic impact fees for fiscal year ending June 30, 2021; and
b. Adopt findings, in accordance with Government Code section 66000, et seq. that the need for the improvements for which the fees are being collected still exists, and as such the funds will be retained.
SUMMARY:
Monterey County collects Traffic Impact Fees (TIF) from developments that represent their fair share towards specific road improvement projects in the immediate area. This report provides an update on various TIFs throughout the County, including the Carmel Valley Traffic Mitigation Fee (CVTMF) Master Plan where ten (10) projects have been identified as eligible for TIF funding. As of June 30, 2021, the ending balances for TIF funds are as follows: CVTMF $3,192,869; East Garrison TIF $364,770; and all other Countywide TIF $3,973,686. Additional details for each TIF fund are included in Exhibit 1 to Attachment A - Resolution.
DISCUSSION:
Government Code Section 66000 et. seq. (AB1600) delineates certain accounting and reporting requirements with respect to development impact fees collected by the County. The fees, for accounting purposes, must be segregated from the general funds of the County and from other funds or accounts containing fees collected for other improvements. Interest on each development fee fund must be credited to that fund or account and used only for the purposes for which the fees were collected. Pursuant to Government Code Section 66006, the agency that collected the fees mus...
Click here for full text