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HomeMy WebLinkAboutRES 2022-100RESOLUTION NO. 2022-100 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM DESERT, CALIFORNIA, MAKING FINDINGS REGARDING THE CONTINUING NEED FOR UNEXPENDED BALANCES OF IMPACT FEES AS OF JUNE 30, 2022 WHEREAS, Government Code Sections 66000 through 66008 (known as and referenced to herein as “AB1600”) regulate the imposition, collections, maintenance, expenditure and reporting of impact fees imposed on developers for the purpose of defraying costs of public facilities; and WHEREAS, a public hearing on the annual report of development impact fees for the period ending June 30, 2022 was held by the City Council on December 15, 2022, and the public testimony, if any, provided therein was duly considered; and WHEREAS, in accordance with the provisions of AB1600, the City of Palm Desert (“City”) has set up separate special revenue funds for each type of fee the City imposes, crediting earned interest to those funds, and spending the accumulated fees and related interest on appropriate expenditures; and WHEREAS, AB1600 requires the City to make specific findings every five (5) years with respect to any portion of the fees remaining unexpended or uncommitted after a period of five (5) years; and WHEREAS, the City Council desires to make the findings required by law, with respect to the unexpended fees. NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF PALM DESERT RESOLVES, FINDS, DECLARES AND DETERMINES AS FOLLOWS: Section 1. That the City finds that all of the foregoing recitals are true and correct and are hereby incorporated and adopted as findings and determinations by the City Council as if fully set forth herein. Section 2. That the City has identified impact fees collected from developers that are subject to AB1600’s requirements. Those funds are:  Housing Mitigation Fee (Fund 214)  Child Care Facility Fund (Fund 228)  New Construction Tax Fee (Fund 231)  Drainage Facility Fee (Fund 232)  Park & Recreation Fee (Fund 233)  Traffic Signalization Fee (Fund 234)  Fire Facility Fund (Fund 235) Resolution No. 2022-100 Page 2 Section 3. That pursuant to Section 66006, the City has prepared an annual report for at least the last five fiscal years, reflecting the beginning and ending balances of each separate fund containing impact fees, the amount of fees collected and the interest earned for the year, the amount of expenditures attached hereto as Exhibit A. Section 4. That a copy of the annual report has been on file and available for review in the City Clerk’s Office by the public, for at least 15 days prior to action taken herewith. Section 5. That the City Council hereby makes the findings required by law, with respect to these unexpended fees, and has: 1) identified the purpose to which the fees are to be put; 2) demonstrated the relationship between the fees and the purposes for which they are charged; 3) identified all sources and amounts of funding anticipated, to the extent that they are known, to complete financing of the improvement. Section 6. That these findings are based on the information provided in the City of Palm Desert’s Development Impact Fees Annual Report, the City of Palm Desert’s annual operating budget and the Capital Improvement Program for Fiscal Year 2022- 2023 to 2026-2027. Which is incorporated herein by reference. ADOPTED ON DECEMBER 15, 2022. KATHLEEN KELLY MAYOR ATTEST: ANTHONY J. MEJIA CITY CLERK Kathleen Kelly (Dec 22, 2022 12:07 PST) Kathleen Kelly Anthony Mejia (Dec 22, 2022 12:21 PST) Resolution No. 2022-100 Page 3 I, Anthony J. Mejia, City Clerk of the City of Palm Desert, hereby certify that Resolution No. 2022-100 is a full, true, and correct copy, and was duly adopted at a regular meeting of the City Council of the City of Palm Desert on December 15, 2022, by the following vote: AYES: HARNIK, NESTANDE, QUINTANILLA, TRUBEE, AND KELLY NOES: NONE ABSENT: NONE ABSTAIN: NONE RECUSED: NONE IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of Palm Desert, California, on _____________________. ANTHONY J. MEJIA CITY CLERK Anthony Mejia (Dec 22, 2022 12:21 PST) Dec 22, 2022 EXHIBIT A 1) A brief description of the type of fee in the account or fund. 2) The amount of the fee. 3) The beginning and ending balance of each account or fund. 4) The amount of the fees collected and the interest earned. The Development fee programs included in this report are the following: Section A – Housing Mitigation Fee (Fund 214) Section B – Child Care Facility Fund (Fund 228) Section C – New Construction Tax Fee (Fund 231) Section D – Drainage Facility Fee (Fund 232) Section E – Park & Recreation Fee (Fund 233) Section F – Traffic Signalization Fee (Fund 234) Section G – Fire Facility Fund (Fund 235) 6) An identification of an approximate date by which the construction of the public improvement(s) will commence if the County determines that sufficient funds have been collected to complete financing of an incomplete public improvement(s), and the public improvement(s) remains incomplete. 7) A description of each interfund transfer or loan made from the account or fund, if any, including the public improvement on which the transferred or loaned fees will be expended, and, in the case of an interfund loan, the date on which the loan will be repaid, and the interest rate that the account or fund will receive on the loan. 8) The amount of refunds made due to sufficient funds being collected to complete financing on incompete public improvements, and the amount of reallacation fo funds made due to adminstratvie costs of refunding unexpended revenues exceeding the amount to be refunded. The City's Five Year Capital Improvement Program Budget is attached as a reference to future projects using existing cash balances for FY 2022-2023 through 2026-2027. CITY OF PALM DESERT DEVELOPMENT IMPACT FEE ANNUAL REPORT FISCAL YEAR 2021-2022 This report contains certain information required to be filed annually by the City of Palm Desert (the “City”) in accordance with the Mitigation Fee Act, commencing with Section 66000 of the California Government Code. The reporting requirements set forth in the Mitigation Fee Act (the “Act”) are applicable to the impact fees imposed on new development in the City. The Act requires that a public agency, on an annual basis, make available to the public within 180 days after the last day of each fiscal year the following information for the past fiscal year: 5) An identification of each public improvement on which fees were expended and the amount of the expenditures on each improvement, including the total percentage of the cost of the public improvement that was funded with fees. 11/30/2022 Attachment 2 Section A– Housing Mitigation Fee (Fund 214) Brief description of the type of fee in the fund: Part 1 – Fund Balance, Revenue, Interest, Expenditures, Ending Balance 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 Beginning Balance 2,797,065$ 2,858,798$ 3,026,646$ 3,489,660$ 3,575,892$ Developer Fees 30,975$ 113,651$ 309,046$ 85,098$ 27,247$ Interest Income 34,599$ 66,427$ 65,569$ 25,560$ 18,355$ Gain (Loss) on Fair Value-GASB 31 16,181$ 11,002$ (17,336)$ (68,100)$ 65,574$ 196,258$ 385,617$ 93,322$ (22,498)$ HCD Grant Loan Proceeds 26,699$ -$ 90,000$ -$ 30,000$ Interest on Loan -$ -$ 22,387$ -$ 12,802$ Expenditures (30,540)$ (28,411)$ (34,989)$ (7,090)$ (49,048)$ (a) Transfers out -$ -$ -$ -$ -$ Ending Fund Balance 2,858,798$ 3,026,646$ 3,489,660$ 3,575,892$ 3,547,149$ Part II – Compliance with expending funds within 5 years Five Year Revenue Test Using First In First Out 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 Current 65,574$ 196,258$ 385,617$ 93,322$ (22,498)$ Prior Year (2-Yrs Old) 258,212$ 65,574$ 196,258$ 385,617$ 93,322$ Prior Year (3-Yrs Old) 273,417$ 258,212$ 65,574$ 196,258$ 385,617$ Prior Year (4-Yrs Old) 57,767$ 273,417$ 258,212$ 65,574$ 196,258$ Prior Year (5-Yrs Old)63,693$ 57,767$ 273,417$ 258,212$ 65,574$ Greater Than 5 Prior FY 1,454,318$ 1,489,600$ 1,512,378$ 1,778,705$ 1,987,870$ Ending Balance 2,172,981$ 2,340,829$ 2,691,457$ 2,777,689$ 2,706,143$ (1) Exclude Loan Proceeds 626,699$ 626,699$ 716,699$ 716,699$ 746,699$ (2) Exclude Interest on Loan 59,118$ 59,118$ 81,505$ 81,505$ 94,307$ (2) Exclude HCD grant -$ -$ -$ -$ -$ Ending Balance 2,858,798$ 3,026,646$ 3,489,660$ 3,575,892$ 3,547,149$ FY 2022-2023 Future Years Commitments Total Commitments % Funded with Dev. Fee Funding Available Date Merle (14) Self-Help 705,000$ -$ 705,000$ 100% Ongoing Housing Mitigation -$ 1,250,000$ 1,250,000$ 100% Ongoing Sands Apartments 180,000$ -$ 180,000$ TBD ARC Village Development 250,000$ -$ 250,000$ TBD Vitalia Apartments (10 Acre Affordable Dev)500,000$ 500,000$ TBD Homebuyer Subsidies -$ 786,405$ 786,405$ 100% Ongoing (2) 1,135,000$ 2,536,405$ 3,671,405$ (a) FY21-22 Expenditure Details:AMOUNT HOMEBUYER SUBSIDIES 30,000$ RICHARDS WATSON HSG MIT LGL SERVICE 15,020$ FIRST AMERICAN LTO-6144923 CVH 1,500$ NEW WEST LANDSCAPING-MERLE SELF HELP 2,500$ FED EX 29$ Total :49,048$ (2) Loan proceeds and interest from loans are program funds and are used to fund Homebuyer subsidies for programs meeting the requirements. The Housing Mitigation Fee is used to mitigate the low-income housing impacts caused by commercial and industrial development. The fee is used to help construct or provide low-income housing assistance to employees, working within the juridictional boundaries of the city, with affordable housing. The fee is based on: $1/sq. ft. – Commercial; $0.33/sq. ft. – Industrial; $0.40/sq. ft. – Professional; $1,000/room – Resort Hotel; $620/Room Non-Resort. Affordable Projects (1) The Housing Mitigation Fees being held beyond the five years as described by AB1600. This fee is being collected for the purpose of subsidizing housing cost as part of the City's program to provide affordable housing for low and very low income households that have at least one employee working within the jurisdictional boundaries of the City. Section B – Child Care Facility Fund 228 Brief description of the type of fee in the fund: Part 1 – Fund Balance, Revenue, Interest, Expenditures, Ending Balance 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 Beginning Balance 1,273,376$ 1,332,828$ 1,396,599$ 1,479,283$ 1,549,239$ Developer Fees 43,649$ 25,499$ 50,309$ 66,213$ 32,945$ Interest Income 15,803$ 31,126$ 27,992$ 10,992$ 6,823$ Gain (Loss) on Fair Value-GASB 31 7,146$ 4,384$ (7,249)$ (15,143)$ 59,452$ 63,771$ 82,685$ 69,956$ 24,624$ Expenditures -$ -$ -$ -$ (900,000)$ (1) Transfers out -$ -$ -$ -$ -$ Ending Fund Balance 1,332,828$ 1,396,599$ 1,479,283$ 1,549,239$ 673,863$ Part II – Compliance with expending funds within 5 years Five Year Revenue Test Using First In First Out 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 Current 59,452$ 63,771$ 82,685$ 69,956$ 24,624$ Prior Year (2-Yrs Old) 76,387$ 59,452$ 63,771$ 82,685$ 69,956$ Prior Year (3-Yrs Old) 175,924$ 76,387$ 59,452$ 63,771$ 82,685$ Prior Year (4-Yrs Old) 29,520$ 175,924$ 76,387$ 59,452$ 63,771$ Prior Year (5-Yrs Old)29,136$ 29,520$ 175,924$ 76,387$ 59,452$ Greater Than 5 Prior FY 962,409$ 991,545$ 1,021,065$ 1,196,989$ 373,376$ (2) Ending Balance 1,332,828$ 1,396,599$ 1,479,283$ 1,549,239$ 673,863$ FY 2021-22 Carryover Projects Future Years Commitments Total Commitments % Funded with Dev. Fee Funding Available Date Child Care Facilities 1,584,000$ TBD 1,584,000$ TBD Ongoing 1,584,000$ -$ 1,584,000$ (1) The City has entered into an operating covenant agreement with Bermuda Dunes Learning Center to use this $900,000 to make improvements to accommodate 150 spaces for toddlers, preschoolers, and elementary-age children at 47549 Highway 74, south of St. Margaret's Episcopal Church. The City of Palm Desert is interested in providing funding, through impact fees for new child care homes and centers, in order to meet some of the child care demand generated by employees and commercial uses in the City. A nexus study was prepared and approved by the City Council in August 2005. Annually, the City considers projects and any applicable budget requests to use these funds to create new facilities and equipment. (2) This fee is being collected for land acquision and development of new child care facilities and therefore must be retained until enough fees have been collected to start the project. Section C – New Construction Tax Fee (Fund 231) Brief description of the type of fee in the fund: Part 1 – Fund Balance, Revenue, Interest, Expenditures, Ending Balance 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 Beginning Balance 1,486,099$ 1,656,520$ 1,342,716$ 1,530,265$ 1,078,653$ Developer Fees 158,147$ 174,981$ 163,899$ 121,565$ 326,092$ Interest Income 12,274$ 27,570$ 28,575$ 5,444$ 2,094$ Gain (Loss) on Fair Value-GASB 31 -$ 6,845$ 5,099$ -$ (35,864)$ 170,421$ 209,396$ 197,573$ 127,009$ 292,321$ CVAG-Reimbursed CV Link Project 12,083$ 5,141,123$ 1,681,840$ Expenditures -$ -$ (22,107)$ (5,719,744)$ (1,600,466)$ (a) Write-off Advance to RDA -$ (523,200)$ -$ -$ -$ Ending Fund Balance 1,656,520$ 1,342,716$ 1,530,265$ 1,078,653$ 1,452,348$ Exclude Advance to RDA write-off:(654,000)$ (130,800)$ (130,800)$ (130,800)$ (130,800)$ 1,002,520$ 1,211,916$ 1,399,465$ 947,853$ 1,321,548$ Part II – Compliance with expending funds within 5 years Five Year Revenue Test Using First In First Out 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 Current 170,421$ 209,396$ 197,573$ (4,193,270)$ (360,292)$ (1) Prior Year (2-Yrs Old)204,788$ 170,421$ 209,396$ -$ -$ Prior Year (3-Yrs Old)228,499$ 204,788$ 170,421$ -$ -$ Prior Year (4-Yrs Old)208,723$ 228,499$ 204,788$ -$ -$ Prior Year (5-Yrs Old)190,089$ 208,723$ 228,499$ -$ -$ Greater Than 5 Prior FY 190,089$ 376,706$ -$ -$ Ending Balance 1,002,520$ 1,211,916$ 1,387,383$ (4,193,270)$ (360,292)$ CVAG- Reimburse CV Link -$ -$ 12,083$ 5,141,123$ 1,681,840$ Tie to ending balance on Fund Balance 1,002,520$ 1,211,916$ 1,399,465$ 947,853$ 1,321,548$ FY 2021-22 Carryover Projects Future Years Commitments Total Commitments % Funded with Dev. Fee Cooperative Agreement CV Link Connectors 2,249,907$ 1,000,000$ 3,249,907$ TBD CV Link Enhancements -$ 500,000$ 500,000$ TBD 2,249,907$ 1,500,000$ 3,749,907$ (a) FY21-22 Expenditure Details:AMOUNT GRANITE CONSTRUCTION - CV LINK CONSTR 1,296,943$ M. BAKER, INTERNATIONAL INC 6,825$ DHS CONSULTING LLC-CV LINK CONSULTANT 81,104$ KOA CORPORATION-CV LINK DESIGN 215,594$ Total :1,600,466$ (1) CVAG reimburses 100% of the CV Link project cost, excluding project design. The negative amount shown here is before the CVAG reimbursement received. After the reimbursement, the remaining impact fee balance was $1,321,548. Ending Balance of available Revenue: Note: Not include interest on Advance The New Construction Tax Fee is used for acquisition and development of public facilities like playgrounds, public structures, and street improvements. Annually, the City Council approves a five-year Capital Improvement Program budget that reflects current projects along with future committed projects utilizing these fees. The fee is based on: Industrial Buildings $0.05/sq. ft.; Residential units $0.40/sq. ft.; all other development $0.40/sq. ft. CVAG to reimburse 100% CVAG to reimburse 95% of Section D – Drainage Facility Fee (Fund 232) Brief description of the type of fee in the fund: Part 1 – Fund Balance, Revenue, Interest, Expenditures, Ending Balance 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 Beginning Balance 1,997,999$ 1,592,857$ 1,617,655$ 664,009$ 707,674$ Developer Fees 7,330$ 38,855$ 18,020$ 61,455$ 43,295$ Interest 21,852$ 36,315$ 22,881$ 5,247$ 3,800$ Gain (Loss) on Fair Value-GASB 31 8,290$ (2,466)$ (3,563)$ (14,233)$ 29,182$ 83,460$ 38,435$ 63,139$ 32,862$ Reimbursed from CVAG -$ -$ -$ -$ -$ Reimbursed from RDA -$ -$ -$ -$ -$ Expenditures (434,324)$ (58,663)$ (992,081)$ (19,474)$ -$ Transfers out Ending Fund Balance 1,592,857$ 1,617,655$ 664,009$ 707,674$ 740,536$ Part II – Compliance with expending funds within 5 years Five Year Revenue Test Using First In First Out 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 Current 29,182$ 83,460$ 38,435$ 63,139$ 32,862$ Prior Year (2-Yrs Old) 48,726$ 29,182$ 83,460$ 38,435$ 63,139$ Prior Year (3-Yrs Old) 155,837$ 48,726$ 29,182$ 83,460$ 38,435$ Prior Year (4-Yrs Old) 13,372$ 155,837$ 48,726$ 29,182$ 83,460$ Prior Year (5-Yrs Old)21,313$ 13,372$ 155,837$ 48,726$ 29,182$ Greater Than 5 Prior FY 1,118,957$ 1,081,608$ 102,898$ 239,262$ 287,988$ (1) Ending Balance 1,387,387$ 1,412,185$ 458,539$ 502,204$ 535,066$ Exclude Reimbursement: Reimbursed from CVAG 105,235$ 105,235$ 105,235$ 105,235$ 105,235$ Reimbursed from RDA 100,235$ 100,235$ 100,235$ 100,235$ 100,235$ Tie to ending balance on Fund Balance 1,592,857$ 1,617,655$ 664,009$ 707,674$ 740,536$ FY 2021- 2022 Carryover Future Years Commitments Total Commitment s % Funded with Dev. Fee Funding Available Date -$ TBD TBD 12% Ongoing -$ 239,262$ 239,262$ 100% Ongoing -$ 239,262$ 239,262$ Gerald Ford Drive Drainage Line 3B AKA: North Sphere Drainage Section 29 and Gerald Ford Drive Regional Detention Basins Improvements The Drainage Facility Fee is used for the drainage needs created by the development and adjoining streets to a project. The City has adopted a master drainage plan which gets modified as new development occurs. In addition, the City's Capital Improvement Program budget includes both current and future projects planned for use of the fees connected to the various development projects. Fees are based on which drainage map zone they reside within: Zone 1 fee is $4,000; Zone 2 is $1,000; Zone 3 is $1,000; Zone 4 is $1,000. The map is available in the Public Works Department upon request. (1) The Drainage Fees are being held beyond the five years as described by AB1600. This fee is being collected for the construction of drainage in the drainage map zones and therefore must be retained until enough fees have been collected to start construction of the project. Section E– Park & Recreation Fee (Fund 233) Brief description of the type of fee in the fund: Part 1 – Fund Balance, Revenue, Interest, Expenditures, Ending Balance 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 Beginning Balance 1,448,171$ 1,416,407$ 1,662,454$ 1,588,447$ 1,599,065$ Developer Fees 24,179$ 247,187$ 4,453$ 10,443$ 133,411$ Refund Developer Fees (7,125)$ -$ -$ -$ -$ Interest 17,882$ 36,237$ 32,590$ 11,526$ 8,620$ Gain (Loss) on Fair Value-GASB 31 8,485$ 4,058$ (8,102)$ (32,465)$ 34,936$ 291,909$ 41,101$ 13,867$ 109,566$ Expenditures (66,700)$ (45,862)$ (115,108)$ (3,249)$ -$ Transfers out Ending Fund Balance 1,416,407$ 1,662,454$ 1,588,447$ 1,599,065$ 1,708,631$ Exclude Insurance reimb: Insurance reimb. playground (33,570)$ (33,570)$ (33,570)$ (33,570)$ (33,570)$ Reimburse playground equipment (164,713)$ (164,713)$ (164,713)$ (164,713)$ (164,713)$ Insurance reimb. damage (159,113)$ (159,113)$ (159,113)$ (159,113)$ (159,113)$ SARDA reimb shade structure (15,896)$ (15,896)$ (15,896)$ (15,896)$ (15,896)$ Ending Balance 1,043,115$ 1,289,162$ 1,215,155$ 1,225,773$ 1,335,339$ Part II – Compliance with expending funds within 5 years Five Year Revenue Test Using First In First Out 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 Current 34,936$ 291,909$ 41,101$ 13,867$ 109,566$ Prior Year (2-Yrs Old) 322,198$ 34,936$ 291,909$ 41,101$ 13,867$ Prior Year (3-Yrs Old) 309,926$ 322,198$ 34,936$ 291,909$ 41,101$ Prior Year (4-Yrs Old) 84,574$ 309,926$ 322,198$ 34,936$ 291,909$ Prior Year (5-Yrs Old) 188,365$ 84,574$ 309,926$ 322,198$ 34,936$ Greater Than 5 Prior FY 103,116$ 245,618$ 215,084$ 521,761$ 843,959$ (1) Ending Balance 1,043,115$ 1,289,162$ 1,215,155$ 1,225,773$ 1,335,339$ FY 2021-22 Carryover Projects Future Years Commitments Total Commitment s % Funded with Dev. Fee Funding Available Date 1,000,000$ TBD 1,000,000$ 100% Ongoing Installation of Outdoor Fitness Facilities 250,000$ TBD 250,000$ 100% Ongoing 1,250,000$ -$ 1,250,000$ Dinah Shore Park (North Sphere) - Future Improvements (1) The Park & Recreation Fees are being held beyond the five years as described by AB1600. This fee is being collected for the purpose of developing new or rehabilitation of existing park or recreational facilities to serve the community. The fee is used to acquire land, construct parks, recreational areas, open space, and other public facilities for the city residents. Annually, the City Council adopts a Capital Improvement Program Budget detailing the current and future projects necessary for use of the fee. The fee is charged to residential properties based on the following formula: Number of units x 2.292 (people per household) x 5 acres divided by 1,000 population x land market value per acre. Section F – Traffic Signalization Fee (Fund 234) Brief description of the type of fee in the fund: Part 1 – Fund Balance, Revenue, Interest, Expenditures, Ending Balance 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 Beginning Balance $ 389,674 $ 410,318 $ 496,178 $ 417,052 $ 436,491 Developer Fees 16,512$ 91,274$ 29,677$ 18,467$ 8,400$ Interest Income 4,912$ 9,965$ 9,682$ 3,062$ 2,259$ Gain (Loss) on Fair Value-GASB 31 2,537$ 765$ (2,090)$ (8,400)$ 21,424$ 103,775$ 40,124$ 19,439$ 2,259$ Expenditures (780)$ (17,915)$ (119,250)$ -$ -$ Transfers out -$ -$ -$ -$ -$ Ending Fund Balance 410,318$ 496,178$ 417,052$ 436,491$ 438,750$ Part II – Compliance with expending funds within 5 years Five Year Revenue Test Using First In First Out 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 Current 21,424$ 103,775$ 40,124$ 19,439$ 2,259$ Prior Year (2-Yrs Old) 38,654$ 21,424$ 103,775$ 40,124$ 19,439$ Prior Year (3-Yrs Old) 103,710$ 38,654$ 21,424$ 103,775$ 40,124$ Prior Year (4-Yrs Old) 17,722$ 103,710$ 38,654$ 21,424$ 103,775$ Prior Year (5-Yrs Old) 228,808$ 17,722$ 103,710$ 38,654$ 21,424$ Greater Than 5 Prior FY -$ 210,893$ 109,365$ 213,075$ 251,729$ (1) Ending Balance 410,318$ 496,178$ 417,052$ 436,491$ 438,750$ FY 2021-2022 Carryover Projects Future Years Commitments Total Commitment s % Funded with Dev. Fee Funding Available Date 225,000$ 75,000$ 300,000$ 100% Ongoing -$ 235,075$ 235,075$ 100% Ongoing 225,000$ 310,075$ 535,075$ Market Place Drive and Cook Street Signal Improvement Traffic Signal Hardware Upgrade increased load capacity The fee is used for acquisition and development of the regional traffic signals within the City created by increased traffic load added by the development. Yearly, the City Council adopts a five-year Capital Improvement Plan detailing the current and future projects necessary for use of the fee. The fee is charged based on the type of building constructed, which is: Residential $ 50 per unit; Commercial $500 per 1,000 sq. ft.; Industrial $500 per acre. (1) The Traffic Signalization Fee being held beyond the five-years as described by AB1600. The use of the fee is contingent on development growth and will be used to install and develop regional traffic signals as the traffic load increases. Section G – Fire Facility Fund (235) Brief description of the type of fee in the fund: Part 1 – Fund Balance, Revenue, Interest, Expenditures, Ending Balance 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 Beginning Balance 1,073,087$ 1,108,171$ 1,153,479$ 1,212,787$ 1,261,388$ Developer Fees 21,766$ 13,655$ 32,713$ 45,624$ 125,925$ Interest Income 13,318$ 25,750$ 23,043$ 8,943$ 6,708$ Gain (Loss) on Fair Value-GASB 31 5,903$ 3,552$ (5,966)$ (25,936)$ 35,084$ 45,308$ 59,308$ 48,601$ 106,698$ Expenditures -$ -$ -$ -$ -$ Transfers out -$ -$ -$ -$ -$ Ending Fund Balance 1,108,171$ 1,153,479$ 1,212,787$ 1,261,388$ 1,368,086$ Part II – Compliance with expending funds within 5 years Five Year Revenue Test Using First In First Out 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 Current 35,084$ 45,308$ 59,308$ 48,601$ 106,698$ Prior Year (2-Yrs Old) 41,063$ 35,084$ 45,308$ 59,308$ 48,601$ Prior Year (3-Yrs Old) 53,168$ 41,063$ 35,084$ 45,308$ 59,308$ Prior Year (4-Yrs Old) 43,193$ 53,168$ 41,063$ 35,084$ 45,308$ Prior Year (5-Yrs Old) 107,570$ 43,193$ 53,168$ 41,063$ 35,084$ Greater Than 5 Prior FY 828,093$ 935,663$ 978,856$ 1,032,023$ 1,073,086$ (1) Ending Balance 1,108,171$ 1,153,479$ 1,212,787$ 1,261,388$ 1,368,086$ FY 2021-22 Carryover Projects Future Years Commitments Total Commitments % Funded with Dev. Fee Funding Available Date North Sphere Fire Station 1,223,471$ -$ 1,223,471$ TBD On going (2) (2) North Sphere Fire Station is expected to cost $12,000,000. The City of Palm Desert is interested in providing funding, through impact fees for a new Fire Station and equipment, in order to meet some of the new commercial and residential development in the northern half of the City. A Nexus study was prepared and approved by City Council in June 2006. The fee is calculated as follows: Commercial development rate is $0.22 per square foot, industrial/office rate is $0.20 per square foot, and residential development would be based on a $2,262 per acre depending on density of units built or $709 per single residence. Annually, the City will adopt a budget to use these funds to create new facilities and equipment. (1) The Fire Facilities Fee being held beyond the five years as described by AB1600. This fee is being collected for the purpose of construction of a new North Sphere Fire Station necessary to serve the growing population within the North sphere of Palm Desert and therefore must be retained until enough fees have been collected to start contruction of the project.