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Home My WebLink AboutCC RES 2019-90RESOLUTION NO. 2019- 90 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, 2019 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, 2019 was held by the City Council on December 12, 2019, 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) 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 Resolution No. 2019- 90 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 2019-2010 to 2023-2024. Which is incorporated herein by reference. PASSED, APPROVED AND ADOPTED at the regular meeting of the Palm Desert City Council held on this 12th day of December, 2019, by the following vote, to wit: AYES: HARNIK, JONATHAN, KELLY, WEBER, and NESTANDE NOES: NONE ABSENT: NONE ABSTAIN: NONE ATTEST: RACHELLE D. KLASSEN, CNY CLERK CITY OF PALM DESERT, CALIFORNIA r APPROVED AS TO FORM: GINA NESTANDE, MAYOR R•BE'T W. REAVF,,S, CITY ATTORNEY BEST, :EST & KR E GER, LLP Page 2 of 2 RESOLUTION NO. 2019-90 EXHIBIT A CITY OF PALM DESERT DEVELOPMENT IMPACT FEE ANNUAL REPORT FISCAL YEAR 2018-19 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: 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. 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. 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 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) The City's Five Year Capital Improvement Program Budget is attached as a reference to future projects using existing cash balances for FY 2020-2021 through 2024-2025 RESOLUTION NO. 2019-90 Section A- Housing Mitigation Fee (Fund 214) Brief descriotion of the tvoe of fee in the fund: 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. Part 1 - Fund Balance, Revenue, Interest, Expenditures, Ending Balance 2014-2015 2015-2016 2016-2017 2017-2018 $ 2,423,612 $ 2,256,769 $ 2,530,186 $ 2,797,065 $ Beginning Balance Developer Fees Interest Income Gain (Loss) on Fair Value HCD Grant Loan Proceed Interest on Loan $ 50,210 $ 7,557 $ 258,339 $ $ 15,078 $ $ 57,767 $ 273,417 $ $ 120,000 $ 15,390 242,858 $ 30,975 $ 15,354 $ 34,599 $ 258,212 $ 65,574 $ $ 60,000 $ 26,699 $ 8,667 Expenditures $ (360,000) $ $ (60,000) $ (30,540) $ Transfers out Ending Fund Balance $ 2,256,769 $ 2,530,186 $ 2,797,065 $ 2,858,798 $ Part II - Compliance with expending funds within 5 years Five Year Revenue Test Using Current Prior Year (2-Yrs Old) Prior Year (3-Yrs Old) Prior Year (4-Yrs Old) Prior Year (5-Yrs Old) Greater Than 5 Prior FY Ending Balance _ _$ Exclude Loan Proceed $ Exclude Interest on Loan $ Exclude HCD grant Ending Balance $ Affordable Projects 36 Unit ARC Village Merle Street -Self Help San Pasqual Project Sands 80/20 Project 10 Acre Affordable Dev sub Parksite 200 units subsidy Homebuyer Subsidies First In First Out 2014-2015 57,767 63,693 53,898 22,914 29,872 1,438,174 1,666,318 540,000 50,451 2,256,769 $ FY 2019-2020 $ 250,000 2018-2019 2,858,798 113,651 66,427 16,181 196,258 (28,411) (a) 3,026,646 2015-2016 2016-2017 258,212 273,417 57,767 63,693 53,898 1,430,960 273,417 $ 57,767 $ 63,693 $ 53,898 $ 22.914 $ 1,468,046 $ 1,939,735 $ _ 540,000 $ 50.451 $ 2,137,947 $ 600,000 $ 59,118 $ 2,530.186 $ 2,797,065 $ Future Years Commitments $ 250,000 $ $ 750,000 $ $ 180.000 $ $ 1,000,000 $ $ 1,000,000 $ $ 60,000 $ 240,000 $ Total Commitments $ 250,000 250,000 750,000 180,000 1,000,000 1,000,000 300,000 $ 3,730,000 2017-2018 65,574 258,212 273,417 57,767 63,693 1,454,318 2,172, 981 626,699 59,118 2,858,798 % Funded with Dev Fee TBD TBD TBD TBD TBD 100% 2018-2019 196,258 65,574 258,212 273,417 57,767 1,489,600 (1) 2,340,829 626,699 59,118 $ 3.026,646 Funding Available Date On going On going (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. (a) FY18-19 Expenditures Details: Richards, Watson Legal Fees $ (Self -Help) $ AMOUNT 28,411 28,411 RESOLUTION NO. 2019-90 Section B - Child Care Facility Fund 228 Brief description of the tvoe of fee in the fund: 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. Part 1 - Fund Balance, Revenue, Interest, Expenditures, Ending Balance 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 Beginning Balance $ 1,491,545 $ 1,021,065 $ 1,196,989 $ 1,273,376 $ 1,332.828 Developer Fees $ 25,483 $ 168,940 $ 69,482 $ 43,649 $ 25.499 Interest Income $ 4.037 $ 6,984 $ 6,904 $ 15,803 $ 31,126 Gain (Loss) on Fair Value $ 7,146 $ 29,520 $ 175,924 $ 76,387 $ 59,452 $ 63,771 Expenditures $ (500,000) $ $ $ $ Transfers out Ending Fund Balance $ 1,021,065 $ 1,196,989 $ 1,273,376 $ 1,332,828 $ 1,396,599 Part II - Compliance with expending funds within 5 years Five Year Revenue Test Using First In First Out 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 Current $ 29,520 $ 175,924 $ 76,387 $ 59,452 $ 63,771 Prior Year (2-Yrs Old) $ 29,136 $ 29,520 $ 175,924 $ 76,387 $ 59,452 Prior Year (3-Yrs Old) $ 20,847 $ 29,136 $ 29,520 $ 175,924 $ 76,387 Prior Year (4-Yrs Old) $ 26,854 $ 20,847 $ 29,136 $ 29,520 $ 175,924 Prior Year (5-Yrs Old) $ 29,846 $ 26,854 $ 20,847 $ 29,136 $ 29,520 Greater Than 5 Prior FY $ 884,862 $ 914,708 $ 941,562 $ 962.409 $ 991,545 (1 ) Ending Balance $ 1,021,065 $ 1,196,989 $ 1,273,376 $ 1,332,828 $ 1,396,599 FY 2018-19 Carryover FY 2019-20 Total % Funded with Funding Available Projects Commitments Commitments Dev. Fee Date Child Care Facilities - expand licensed day-care offerings in Freedom Park $ 1,275,000 $ 255,000 $ 1,530,000 TBD On going (1) The Child Care Facilities Fee being held beyond the five -years as described by AB1600. This fee is being collected for land acquisition and development of a new child care facilities and therefore must be retained until enough fees have been collected to start the project RESOLUTION NO. 2019-90 Section C - New Construction Tax Fee (Fund 231) Brief descriotion of the tvoe of fee in the fund 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 protects utilizing these fees. The fee is based on. Industrial Buildings SO 051sq ft , Residential units S0 40/sq ft.; all other development 50 40isq ft Part 1 - Fund Balance, Revenue, Interest, Expenditures, Ending Balance 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 Beginning Balance $ 1,170.905 $ 1.286,666 $ 1,318,647 $ 1.486,099 $ 1.656,520 Developer Fees $ 206.206 $ 223,743 $ 199,849 5 158,147 $ 174.981 Interest Income $ 2 517 S 4,756 S 4,939 $ 12,274 $ 27,570 Gain (Loss) on Fair Value $ 6.845 $ 208,723 $ 228,499 $ 204.788 $ 170,421 $ 209,396 Expenditures $ (92,962) $ (196,517) $ (37,337) $ $ Ending Fund Balance $ 1.286.666 $ 1,318.647 $ 1.486.099 $ 1,656,520 S 1 865,916 Exclude Advance to RDA $ (654.000) 5 (654,000) $ (654,000) 5 (654.000) $ (654.000) Ending Balance of available Revenue: $ 632,666 S 664,647 $ 832,099 S 1,002,520 $ 1,211,916 Note Not include interest on Advance Part II - Compliance with expending funds within 5 years Five Year Revenue Test Usina First In First Out 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 Current $ 208.723 S 228,499 $ 204,788 $ 170,421 $ 209.396 Prior Year (2-Yrs Old) $ 285,337 S 208,723 S 228,499 S 204,788 $ 170,421 Prior Year (3-Yrs Old) $ 138.606 S 227,426 S 208,723 $ 228,499 $ 204.788 Pnor Year (4-Yrs Old) $ 190,089 S 208.723 $ 228.499 Prior Year (5-Yrs Old) $ 190,089 $ 208,723 Greater Than 5 Prior FY $ 190,089 (1) Ending Balance $ 632,666 $ 664,647 S 832,099 $ 1,002,520 $ 1,211,916 CV Link Spur Phase 1 and 2 Total % Funded wpth Funding FY 2019.20 Commitments Dev. Fee Available Date $ 1,200.000 $ 1,200,000 TBD On going $ 1,200,000 City of Palm Desert advanced $654,000 to the former Redevelopment Agency in 1986. If the advance is approved for repayment to the City, the repayment will be in accordance with the dissolution law. (1) The New Construction Fee being held beyond the five -years as described by AB1600 This fee is being collected for land acquisition andlor development of recreational facilities and therefore must be retained until enough fees have been collected to start the project RESOLUTION NO. 2019-90 Section D - Drainage Facility Fee (Fund 232) Brief description of the type of fee in the fund: 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. Part 1 - Fund Balance, Revenue, Interest, Expenditures, Ending Balance 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 Beginning Balance $ 1,910,752 $ 1,924,124 $ 2.079,961 $ 1,997,999 $ 1,592,857 Developer Fees Interest Gain (toss) on Fair Value Reimbursed from CVAG Reimbursed from RDA Expenditures Transfers out Ending Fund Balance $ 7,020 $ 143,080 $ 37,030 $ 7,330 $ 38,855 6,352 $ 12,757 $ 11,695 $ 21,852 $ 36,315 $ 8,290 13,372 $ 155,837 $ 48,725 $ 29,182 $ 83.460 - $ - $ (130,687) $ (434,324) $ (58,663) (a) $ 1,924,124 $ 2,079,961 $ 1,997,999 $ 1,592,857 $ 1,617,655 Part II - Compliance with expending funds within 5 years Five Year Revenue Test Using First In First Out Current Prior Year (2-Yrs Old) Prior Year (3-Yrs Old) Prior Year (4-Yrs Old) Prior Year (5-Yrs Old) Greater Than 5 Prior FY Ending Balance Reimbursed from CVAG Reimbursed from RDA Tie to ending balance Ending Balance 2014-2015 $ 13,372 $ 21,313 $ 17,307 $ 39,711 $ 44,922 $ 1,582,029 $ 1,718,654 $ 105.235 $ 100.235 $ 1,924,124 2015-2016 $ 155,837 $ $ 13,372 $ $ 21,313 $ $ 17,307 $ $ 39,711 $ $ 1,626.951 $ $ 1,874,491 $ $ 105,235 $ $ 100,235 $ $ 2,079,961 $ 2016-2017 2017-2018 2018-2019 48,725 $ 29.182 $ 83,460 155,837 $ 48,726 $ 29,182 13,372 $ 155.837 $ 48,726 21,313 $ 13.372 $ 155.837 17,307 $ 21,313 $ 13,372 1.535,975 $ 1,118,957 $ 1,081.608 (1 ) 1,792,529 $ 1,387,387 $ 1,412,185 105,235 $ 105,235 $ 105.235 100,235 $ 100,235 $ 100,235 1.997,999 $ 1,592,857 $ 1.617,655 Install Storm Drain (CC Drive - Tamarisk) San Pablo. Hwy 111 to Mag Falls Install FY 2018-2019 Carryover $ 450,001 $ 1,011,555 Total Commitments $ 450,001 $ 1,011,555 $ 1,461, 556 % Funded with Funding Dev. Fee Available Date 100% On going 100% On going ( 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. (a) FY1 B-19 Expenditures Details: Storm drain improvement -Engineer Deep Canyon storm drainage AMOUNT $ 53,020 $ 5,642 $ 58,662 RESOLUTION NO. 2019-90 Section E- Park & Recreation Fee (Fund 233) Brief description of the tvoe of fee in the fund: 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. Part 1 - Fund Balance, Revenue, Interest, Expenditures, Ending Balance 2014-2015 2015-2016 Beginning Balance $ 1,205,130 $ 1,103,892 $ Developer Fees $ 80.679 $ 302,145 $ Refund Developer Fees Interest $ 3,895 $ 7,781 $ Gain (Loss) on Fair Value $ 84.574 $ 309,926 $ Insurance reimb. playground SARDA reimb shade structure $ Expenditures $ (185,812) $ (108,463) $ Transfers out Ending Fund Balance $ 1,103,892 $ 1,305,355 $ Exclude Insurance reimb: Insurance reimb. playground Reimburse playground equipment Insurance reimb. damage SARDA reimb shade structure Ending Balance $ (33,570) $ $ (164.713) $ $ (159,113) $ $ 746,496 $ (33,570) $ (164,713) $ (159,113) $ 947.959 $ 2016-2017 2017-2018 2018-2019 1,305,355 $ 1,448,171 $ 1,416.407 314,438 $ 24,179 $ 247,187 $ (7,125) $ 7,761 $ 17,882 $ 36,237 $ 8,485 322,199 $ 34,936 $ 291,909 15,896 (195,279) $ (66,700) $ (45,862) (a) 1,448,171 $ 1,416,407 $ 1.662,454 (33,570) $ (33,570) $ (33,570) (164,713) $ (164,713) $ (164,713) (159,113) $ (159,113) $ (159.113) (15,896) $ (15,896) $ (15,896) 1,074,879 $ 1,043,115 $ 1,289,162 Part II - Compliance with expending funds within 5 years Five Year Revenue Test Usina First In First Out 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 Current $ 84,574 $ 309,926 $ 322,199 $ 34,936 $ 291,909 Prior Year (2-Yrs Old) $ 188,365 $ 84,574 $ 309,926 $ 322,198 $ 34,936 Prior Year (3-Yrs Old) $ 35.477 $ 188,365 $ 84,574 $ 309.926 $ 322,198 Prior Year (4-Yrs Old) $ 6,168 $ 35,477 $ 188,365 $ 84,574 $ 309.926 Prior Year (5-Yrs Old) $ 78,073 $ 6,168 $ 35,477 $ 188,365 $ 84,574 Greater Than 5 Prior FY $ 353,839 $ 323,449 $ 134,338 $ 103,116 $ 245,618 (1 ) Ending Balance $ _746_496 $ 947,959_ $ 1,074,879 $ _1,043,115_$-_ 1.289,162 Carryovers FY Future Years Total 2018-2019 FY 2019-2020 Commitments Commitments Skate Park Conversion and Pickleball Lighting Improvements $ Installation of Outdoor Fitness Facilities San Pablo Street Park Improvements $ Portola Park (North Sphere) 243,300 155.060 100,000 $ $ 243.300 150,000 $ 250,000 $ 155,060 $ 1,000,000 $ 1,000,000 $ 1.648,360 (1) The Park & Recreation Fee being held beyond the five years as described by AB1600 This fee is being developing new or rehabilitation of existing park or recreational facilities to serve the community. (a) FY18-19 Expenditures Details: freedom Park LED lighting, shade structure, landscape architecture AMOUNT 45,862 45,862 % Funded with Funding Dev. Fee Available Date 100% 100% 100% 100% On going On going On going On going collected for the purpose of IWO PUP t-p RESOLUTION NO. 2019-90 Section F - Traffic Signalization Fee (Fund 234) Brief description of the Noe of fee in the fund: 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. Yeary, 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 Part 1 - Fund Balance, Revenue, Interest, Expenditures, Ending Balance 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 Beginning Balance $ 307,428 $ 247,310 $ 351,020 S 389,674 S 410.318 Developer Fees S 16,688 S 101,711 $ 36,566 S 16,512 $ 91,274 Interest Income $ 1,034 S 1,999 S 2,088 $ 4,912 $ 9,965 Gain (Loss) on Fair Value $ 2,537 $ 17,722 S 103,710 $ 38,654 $ 21,424 $ 103,775 Expenditures $ (77,840) $ $ $ (780) $ (17,915) (a) Transfers out Ending Fund Balance S 247,310 S 351,020 $ 389,674 $ 410,318 S 496,178 Part II - Compliance with expending funds within 5 years Five Year Revenue Test Using First In First Out 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 Current $ 17,722 $ 103,710 S 38,654 $ 21,424 $ 103,775 Prior Year (2-Yrs Old) $ 133,378 $ 17,722 $ 103,710 $ 38,654 $ 21,424 Prior Year (3-Yrs Old) S 96,210 $ 133,378 $ 17,722 S 103,710 $ 38,654 Prior Year (4-Yrs Old) $ 96,210 $ 133,378 $ 17,722 S 103,710 Prior Year (5-Yrs Old) S 96,210 $ 228,808 S 17,722 Greater Than 5 Prior FY $ 210,893 (1) Ending Balance $ 247,310 $ 351,020 $ 389,674 $ 410,318 $ 496,178 Pedestrian Traffic Signal Traffic Signal - El Paseo at San Luis Rey Ave. Carryovers Future Years Total % Funded with Funding FY 2018-19 Commitments Commitments Dev. Fee Available Date $ 75,000 $ 136,305 $ 75,000 100% On going $ 136,305 100% On going S 211.305 (a) FY17-18 Expenditures Details: Traffic Signal -El Paseo at San Luis Rey (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 develop regional traffic signals as the traffic Toad increases. Amount S 17,915 S 17,915 RESOLUTION NO. 2019-90 Section G - Fire Facility Fund (235) Brief description of the type of fee in the fund: 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, industriaVoffice 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. Part 1 - Fund Balance, Revenue, Interest, Expenditures, Ending Balance 2013-2014 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 Beginning Balance $ 828,093 $ 935,663 $ 978,856 $ 1,032,024 S 1,073,087 $ 1,108,171 Developer Fees 5 104,243 $ 40,023 $ 46,779 $ 35,141 $ 21,766 S 13,655 Interest Income S 3,327 S 3,170 $ 6.389 $ 5,922 $ 13,318 $ 25,750 Gain (Loss) on Fair Value S 5,903 S 107,570 $ 43,193 $ 53,168 $ 41,063 $ 35,084 $ 45,308 Expenditures S $ - $ $ $ S Transfers out Ending Fund Balance S 935,663 $ 978,856 $ 1,032,024 $ 1,073,087 $ 1,108,171 S 1,153,479 Part II - Compliance with expending funds within 5 years San tort Five Year Revenue Test Usina First In First Out am 2013-2014 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 Current S 107.570 S 43,193 $ 53,168 $ 41,063 $ 35,084 $ 45,308 Prior Year (2-Yrs Old) S 89.129 $ 107,570 $ 43,193 $ 53,168 $ 41,063 S 35,084 Prior Year (3-Yrs Old) S 41,479 S 89.129 S 107,570 $ 43,193 $ 53.168 S 41,063 Prior Year (4-Yrs Old) S 52,924 S 41,479 S 89,129 $ 107,570 $ 43,193 $ 53,168 Prior Year (5-Yrs Old) S 29,955 S 52,924 $ 41,479 $ 89,129 $ 107,570 $ 43.193 Greater Than 5 Prior FY S 614,606 S 644,561 $ 697,485 $ 738,964 $ 828,093 $ 935,663 (1 ) Ending Balance S 935,663 S 978,856 $ 1,032,024 $ 1,073,087 $ 1,108,171 $ 1,153,479 FY 2018-2019 Carryover Future Years Total % Funded with Funding Projects Commitments Commitments Dev. Fee Available Date North Sphere Fire Station S 1,000.171 S 75,000 $ 1,075,171 30% On going Noted: ( 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. (2 )North Sphere Fire Station is expected to cost S10,680,000.. RESOLUTION NO. 2019-90 RESOLUTION NO. 2019-90 RESOLUTION NO. 2019-90 R 1 1 1 1 1 coo 000000000 0 IuIIuvhIIDiI 1 1111111111111 1111111111 1111111111111 10011100111011 00110001111111111 00100111111111 001111111111111 011101111111111 1 HIu1IIIIII IlIlUhIlIll UNE M. M Paps No. PINDJEST tJ0001 fl '1' RESOLUTION NO. 2019-90 RESOLUTION NO. 2019-90 ii 1;4 t tt. fl 11111111WPiI. iP11/11111111 ,„ fif it in E ft !MIMI!! 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