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PAGE TWO <br />SUBJECT: IMPACT FEE REVIEW AND ADJUSTMENT <br />DATE: DECEMBER 6, 2010 <br />calculation and certification by the city manager or manager's designee, and shall not <br />require additional action by the city council to be effective. <br />Sec. 3.18.100. Review every five years. <br /> The impact fees described in this chapter and <br />the administrative procedures of this chapter shall be reviewed at least once every five <br />years by the city manager or the manager's designee to ensure that (1) the demand and <br />cost assumptions underlying the impact fees are still valid, (2) the resulting impact fees <br />do not exceed the actual costs of constructing capital facilities that are of the type for <br />which the fees are paid and that are required to serve new impact-generating <br />development, (3) the monies collected or to be collected in each impact fee trust account <br />have been and are expected to be spent for capital facilities for which the fees were <br />paid, and (4) the capital facilities for which the fees are to be used will benefit the new <br />development paying the fees. <br />FISCAL IMPACT: <br />Unknown costs to complete a review of impact fees, either using City staff or by retaining <br />consultants to complete the review; unknown changes in impact fee rates—and the resulting <br />impact fee revenue—to reflect the conclusions of the review. <br />RECOMMENDATION: <br />Staff recommends deferring any increases in impact fees until we can complete an internal <br />review of the factors identified in Sec. 3.18.100. <br />ATTACHMENT: <br />None. <br />ê <br /> <br />