Title
Adopt a Resolution to:
a. Approve a report on the status of development traffic impact fees for fiscal year ending June 30, 2018; and
b. Adopt findings for retaining uncommitted funds in accordance with Government Code Section 66000 et. seq.
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, 2018; and
b. Adopt findings for retaining uncommitted funds in accordance with Government Code Section 66000 et. seq.
SUMMARY:
Monterey County collects traffic impact fees from development that represents their fair share towards identified projects. CVTMF is specific to Carmel Valley where 10 projects have been identifed. The ending balance as of June 30, 2018 for CVTMF is $2,374,975.99 (Exhibit 1). BSA 2652 (Fund 002-3000-2652) accounts for 34 projects and BSA 2655 (Fund 002-3000-2655) is for East Garrison. As of June 30, 2018, the ending balance for BSA 2652 is $3,015,985.61 and the ending balance for BSA 2655 is $258,954.28 (Exhibit 2).
Six projects were identified in 2017 as part of the FY 2015-16 report that were to be refunded due to project(s) completion. The County is still in the process of issuing refunds totaling $106,857.39, which would reduce that fund balance to $2,909,128.22 in BSA 2652 (Fund 002-3000-2652) for the remaining 28 projects.
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. The agency that collected the fees must make available to the public ...
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