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HomeMy WebLinkAbout4.3 Developer Impact Fee Funds Report . . . " CITY CLERK File # D~[Q][Q]-[gJ[Q] " AGENDA STATEMENT CITY COUNCIL MEETING DATE: January 6,1998 SUBJECT Annual Report of Developer Impact Fee Funds Deposits: Pursuant to Government Code Sections 6600 I, 66006 and 66008 (AB 1600) Report Prepared by" Paul S Rankin, Assistant City Manager EXHIBITS A TT ACHED' A. Annual Report of Developer Impact Fee Funds Deposits B. Resolution Making Findings Regarding Unexpended Developer Deposits For Public Improvements RECOMMENDATION: VAccept the reports and adopt the Resolution. FINANCIAL STATEMENT: All Developer Deposits are anticipated to be utilized for the purpose under which they were originally collected. Although revised reporting requirements have increased the time required to prepare this report, no administrative cost recovery has been deducted from monies held. DESCRIPTION: A City is authorized under State Law to require development applicants to contribute fees toward off-site improvements, which are needed as a result of the new development. The fees are charged based only upon a pro-rata share of the cost of the new improvements. The report in Exhibit A provides information related to the status of these funds during Fiscal Year 1996/97. Requirements of Law Tbe law requires the City to review on an annual basis the status of Development Mitigation fees collected. Staff has previously made available to the public a Draft copy of this report on December 19, 1997 In the event that any fees remain unexpended for more than five years, the City Council must adopt a Resolution making certain findings. In the event that the findings are not made to support the retention of the funds, the unexpended fees must be returned to the current owner(s) of the subject property EXDansion of ReDort to Address Chanees in Law and New Funds Previously the City's Capital Project Fund was the only fund subject to the reporting requirements of ABI600 However the report format has now been revised to account for changes in the law, including the reclassification of Park Dedication Fees as impact fees, as well as the adoption by the City of Public Facilities and Affordable Housing impact fees, both of which are accounted in separate funds. In addition, the Capital Project Fund has been renamed the Traffic Impact Fee Fund as it now accounts for all of the various traffic impact fees that the City has collecled. COPIES TO: ITEM NO. ~ (;;IFINANCEIAB 1600IFY9n97IAGENDA.DOC It should be noted that in the case of the Affordable Housing fees the City is only required to report to the extent that dollars are expended on a "public facility." Given that the exact use will be determined in.the future, staff has incorporated this fund to avoid a situation in the future of having to report on past activity for these fees. .' Funds Included The City of Dublin tracks Impact Fees in four funds: Fund 215 (Park Dedication), Fund 300 (Traffic Impact Pees), Pund 310 (Public Facilities Impact Fees) and Fund 380 (Affordable Housing). These impact fees were established to pay for the design, development and construction of projects for parks, streets, public facilities and affordable housing. . Maior Comoonents of Renort A liability account is established for each of the identified impact fees. The information presented in the attachments to this report identify the status of Developer Contributions, as well as other funds accounted for in the impact fee funds. For example, Settlement Funds received from BART are accounted for in the Traffic Impact Pees Fund. Technically, these other funds are not subject to the requirements of AB 1600 contained in the Government Code. However, for reporting purposes this simplifies the administration of the funds. The ending impact fee balances shown in this report match the amounts shown on the City Financial Records for its impact fee funds. The City does publish a Comprehensive Annual financial Report (CAFR) which contains expenditure detail on its impact fee funds. The June 30, 1<197 CAFR was accepted by the City Council at the December 16, 1997 Council meeting. Attachment # I of Exhibit A contains an outline of the various diselosure requirements relating to impact fees and shows which attachments contain the required information. . Staff has identified those contributions which have remained unexpended for more than five years, as discussed on Attachment #2 of Exhibit A. All of the identified fees were collected on January 2, 1990 from the Developer of the Dublin Meadows Project. Two deposits were identified in the 1994/95 Annual Report. The City Council previously adopted Resolution No. 117-96 which identified the findings necessary to continue to retain the funds to be used on the projects for which they were collected, which were the Scarlett Drive Extension and the Dougherty Road Improvements from Amador Valley Boulevard North to the City Limits). Staff has prepared an updated Resolution (Exhibit B) for adoption by the City Council. Funds for the Dougherty Road Project are being expended in the current year Attachment #3 of Exhibit A contains a breakdown of the accounts as of June 30, 1997. In 1<196-97 interest was allocated to the impact fee funds based upon the annual average of month end cash balances in each fund. As of June 30, 1997, there are two projects in the Traffic Impact Pees Fund where the fees collected to date are insufficient to cover the expenses already recorded, as discussed in more detail below Account I Project Amount of Deficit as of June 30, 1997 (191,18077) 331-023 - E. Dublin TIP Category 1 356-00 I - Dublin Blvd. Improvements (289,271 92) Anticipated Repayment Source Traffic Impact fees to be collected on future development in the Eastern Dublin Specific Plan Area. Traffic Impact Fees to be collected on the future SChaeffer. Ranch housing project and Phase II of the Hansen Hill housing project. - . . . , It is currently anticipated that future fees will eliminate the amounts currently recorded as Deferred Revenues. Attachment #4 of Exhibit A was prepared in order to meet the new disclosure requirements under section 66006 of the California Government Code. This change requires that the report show the percentage of the costs of each public improvement that will be funded by impact fees as compared to other funding sources. Staff would recommend that the City Council accept the attached reports and adopt the attached Resolution (Exhibit B). . . . " City of Dublin Annual Report of Developer Impact Fee Funds Deposits For the Year Ended June 30, 1997 EXHIBIT A IMPACT FEE DISCLOSURE REQUIREMENTS Requirement 11 For the fifth year following the first deposit into the account or fund, and every five years thereafter, the City shall make all of the following findings with respect to those portions of the impact fee remaining unexpended, whether committed or uncommitted. a. Identify the purpose to which the fee is to be used for. b. Demonstrate a reasonable relationship between the fee and the purpose for which it is to be charged. c. Identify all sources and amounts of funding anticipated to complete financing in incomplete improvements. d. Designate the approximate dates on which the funding referred to in item c above is expected to be deposited into the appropriate account or fund.. e. When sufficient funds have been collected, the agency shall identify, within 180 days of the determination that sufficient funds have been collected, an approximate date by which the construction of the public improvements will commence. G:\FlNANCEIAB 1600\FV9697\QUTLlNE,DQC See Disclosure At Attachment 2, Section D and attached Resolution for items a-e below ATTACHMENT 1 e e e e . . IMPACT FEE DISCLOSURE REQUIREMENTS Requirement Provide the following: 1 A brief description of each of the City's impact fees. 2. The amount charged for the City's impact fees, 3. The beginning and ending balance for the City's impact fee accounts. 4 The amount of fees collected and 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, A description of each interfund transfer or loan made from the account or fund, 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 rate of interest that the account or fund will receive on the loan. 7 The amount ofrefunds made pursuant to subdivision (e) of Section 66001 and any allocations pursuant to subdivision (f) of Section 66001. 8. At the time the local agency imposes a fee for public improvements on a specific development project, it shall identify the public improvement that the fee will be used to finance. 9 A determination that there is a reasonable relationship between the fees' use and the type of development project on which the fee is imposed. 10. A determination that there is a reasonable relationship between the need for the public facility and the type of development project on which the fee is imposed. G:IFINANCb\AJlI 6001FY9697\OlJTLlNE.DOC See Disclosure At Attachment 2, Section A Attachment 2, Section B Attachment 3 Attachment 3 Attachments 3 and 4 Attachment 2, Section C Attachment 3 Attachment 2, Section B Attachment 2, Section B Attachment 2, Section B ATTACHMENT 1 DISCLOSURES RELATING TO THE CITY'S IMPACT FEES A, DESCRIPTION OF THE CITY'S IMPACT FEES . The City of Dublin tracks Impact Fees in four funds: Fund 215 (Park Dedication, Le, Quimby Act Fees), Fund 300 (Traffic Impact Fees), Fund 310 (Public Facilities Impact Fees) and Fund 380 (Affordable Housing), These impact fees were established to pay for the design, development and construction of projects for parks, streets, public facilities and affordable housing. B. AMOUNTS CHARGED BY THE CITY FOR IMPACT FEES AND PUBLIC IMPROVEMENTS FUNDED BY THESE FEES The amounts charged for the impact fees noted above are dependent upon the type and size of a particular development and were based upon related studies, conductcd prior to the adoption of the fees. City Council has originally adopted and imposed the subject fees through the passage of the following resolutions, as well as any subsequent amendments: Impact Fee Traffic Impact Fees Public Facility Impact Fees Affordable Housing In Lieu Fees Park Dedication Fees Resolution 1 Ordinance Resolution 41-96 Resolution 32-96 Resolution 33-96 Chapter 9.28 Dublin Municipal Code . The studies adopted as part of the resolutions noted above identify the public improvements that those fees will be used to finance. These studies also show that there is a reasonable relationship a,) between the fees' use and the type of development project on which the fee is imposed and b.) between the need for the public facility and the type of development project on which the fee is imposed. C. INTERFUND LOANS AND TRANSFERS OF IMP ACT FEES No interfund loans of impact fees arc outstanding and none were made during Fiscal Year 1996-97 A $789.90 Illterfund transfer of housing in lieu fees was made to the General Fund to reimburse that fund for costs incurred in the development of an affordable housing impact fee study e Go\FlNANCEIAB 1600\FY9697\XCEED5YR,DUC ATTACHMENT 2 SCHEDULE OF FUNDING FOR PUBLIC IMPROVEMENTS AFFORDABLE HOUSING AND PUBLIC F ACILmES IMP ACT FEES Prior Y-tars Cu rrent Y lCaT "1-0 Devewper 8udg<led CIP "/-0 Developer Project El:penditllrfll Project Expenditures Fee PUDded Project Expend itures Grand Fee FUDd-ed f-or All Fuud. All Fuud. Project (0 Date All Fuud> Projech:d Projected Total Thru 61301% FiKal Year 1996197 TOTAL Expenditu res 7/1/97 - 613012001 Tubl Expeaditu res In Lieu Aff-ordable HDusinl! Fund lo-Lin Affordable Housing Impact Fee Study Expense Developer Fees 529,198.20 5789.90 . 529,9gg,1O 100% $(1.00 529,98g.1O 100% Expense Other F uods 50.00 $(1.00 $(1,00 $(1.00 50.00 529,198.20 57S9.90 529, 9gU 0 ]00% $(1.00 529,988.10 100% Pub6, Fatilili..lrnultl Fee Fuud Public Fl.dlitits Irnput Fee Stud)' Expense Developer Fees 515,141.20 512,823.75 527,%4,95 ]00% 50.00 527,964,95 100% Expense Other Fund. 50.00 50.00 $(1.00 50.00 $(1,00 515,141.20 512,823.75 527,%4.95 100% 50.00 $17,964,95 100% . This represents a u-ansfer made to the General Fund to repay the oos.t of Ihe impact fee study e . AlTeENT4 e CITY OF DUBLIN CAPITAL IMPAtFEE REPORT 1996197 Prepared December 10, 1997 and De1ailing Activity From July 1, 1996 - June 30,1997 e PARK HOUSING DEDICATION IMPACT FEES PUBLIC FACILITIES IMPACT FEES FEES 331-017 331-019 331-021 432-000 Affordable E. Dublin Community Park Housing Parks / Facilities Parks / F aciiilies Dedication Balance Available 7/1/96 $30,801 80 $0.00 $0.00 $401,411.06 Fees Collected: 7/1/96-6/30/97 $373,619.56 $177,954.00 $569,510.00 $286,050.00 I nte rest 7/1/96-6/30/97 $6,488.27 $2,234.49 $7,940.29 $21,676.71 Less 1996/97 Expenditures Impact Fee Study ($78990) ($19,944.60) ($8,020.35) Heritage Center Master Plan (9550) ($4,000.00) Heritage Center Parking Lot (9551) ($2,631 91) Mape Park Renovation (9576) ($350,373.78) Refunds Per CGC 66001 (e)/(f) Ending Balance 6/30/97 $410,119.73 $160,243.89 $569,429.94 $352,132.08 Dale Pooled: 121181978:43 AAt Filename: g:\finance\ab1EK1O\fy9iS\9697rpt:ds. ATTACHMENT 3 tit . . D. HISTORICAL ANALYSIS OF FEES LEVIED AGAINST DEVELOPMENT PROJECTS IN ACCORDANCE WITH SECTION 66001 OF THE CALIFORNIA GOVERNMENT CODE AND REMAINING AFTER 5 YEARS The purposc of the review was to identifY monies that had been collected and held for a period of more than 5 years and to make appropriate disclosures. The City of Dublin has analyzed the balance of monies held in its impact fee funds and has determined that the Traffic Impact Fee Fund includes two projects which continue to hold funds for more than 5 years. Both Projects are accounted for in the adopted City of Dublin Five Year Capital Improvement Program 1996 - 2001 (Update Adopted 1997/98). In accordance with State Law the City Council has previously adopted Resolution #117-96 on 10/15/96 declaring the need to continue to maintain these funds in order to complete the intended project. The fees held are as follows: PROJECT 9686 - Searlett Drive Extension (Between Dublin Boulevard and Dougherty Road - Parallel To Former Southern Pacific Railroad right-of-way) Amount Collected Liability Account # 331-006 $12,400 Collected January 2,1990 in accordance with Resolution No. 33-89, which made findings that the fees were necessary to mitigate the traffic impacts caused by the Dublin Meadows project. Total Estimated Project Cost As Identified In CIP: $8,313,833 Source of Additional Monies: Additional Future Developer dedications, mitigation fees, contributions, Eastern Dublin Traffic Impact Fees (Category 2); and/or outside grants. Approximate Dates: It is estimated that the timing of the complete contributions will be beyond Fiscal Year 2000/2001. It is possible that phases based upon available funding could begin at an earlier date. PROJECT 9685 - Dougherty Road North of Amador Valley Blvd. to North of Houston Place Amount Collected Liability Account # 331-008 $9,328 Collected January 2, 1990 in accordance with Resolution No, 33-89, which made findings that the fees were necessary to mitigate the traffic impacts caused by the Dublin Meadows project. Total Estimated Project Cost (Phase I) As Identified In CIP' $571,252 Sourcc of Additional Monies: Traffic Impact Fees, outside grants and other special revenue funds. Approximate Dates: The project has been included as part of the City's CIP Plan for Fiscal Year 1997/98. CITY OF DUBLIN CAPITAL IMPACT FEE REPORT 1996/97 Prepared December 2, 1997 and Detail ing Activity From J u~y 11 1996 . JUIlB 30r 1997 TRAFFIC IMPACT FEE PROJECTS 331~1 331-006 331~7 331-003 331-010 331-011 331-012 331-013 Dublin BlYd, Rd Parallel Parallel Rd Doug herly Rd Village Pkwy Dublin BM! Downtown DOLlgherly Rd Wklenir\Q SPROW I &8O-Regional n/o AVB SiQ nals Slerra-Cla'" TiF SIu<!y SPRR10 AVB CIP PROJECT # 9696 9666 9687 9635 9656 9692 9648 9689 Balance Available 7/1196 $19,489.25 $16,563.03 $71,101.42 $12,459.67 $46,198.56 $7,304 ,29 56,044.20 $270.89 Fees Collecled: 711~()f97 $120,621 73 $0,00 $2,320.00 $0.00 $27,488.00 $7,260,00 $860,00 $0,00 Interest $0,00 $360.47 $1,665.01 $286.21 $1,892,63 $334,55 $158,59 $6,22 Less 1996/97 Expenditures ($429,582,90) $0.00 ($66.83) $0,00 $0,00 $0,00 $0,00 $0,00 Refunds Per GGC 66oo1(e)/(1) $0,00 $0.00 $0,00 $0.00 $0,00 $0,00 $0,00 $0.00 Endln9 Balance 6/30197 (a) ($289,271,92) $16,943.50 $75.039.60 $12,745.e8 $75,379.19 $14.896.64 $7,062.79 $277.1 1 TRAFFIC IMPACT FEE PROJECTS 331-018 331-022 331-023 331-024 331-025 331-027 331-014 331-016 E.Dublin Pleasanton E. Dubli n E, Dublin E. Dublin Dublin Blvd, Dublin/Silvergale East Dublin Arterial Unes I nten:hange TIF Cate90ry 1 TI F Category 2 TIF Galegory 3 Sierra Dghly Impvts TIF Study CIP PROJECT # 9640 9601 9649 Balance Avai..ble 7/1196 ($53,261.S4) (a) $40,409.18 ($70,429.55) (a) ($30,133.85) (a) Fees Collected: 7/1196-&30197 553.261 ,64 $928.23 $5,583,61 $165.375.00 $70.875.00 $4,060.00 $416,292.48 $30,133.85 Interest 711196-61JO/S7 $1,351.72 $613.17 $262.79 $93.26 $7,837.97 $0.00 Less 1996197 Expenditures ($196,116.10) (b) ($4,647.50) $0,00 Refunds Per GGG 66001{e)/(Q $0.00 $0,00 Endin9 Balance 6130197 {a) $0.00 $41,337.41 ($191,1eO.n) $185,ge8.17 $71,137,79 $4,153,26 $349,053.40 $0,00 NOTES (a) DeIicil beginnin9 balance due to lI1e undertaking of activities and projects in _ance ofll1e collection of the related fees. (b) These represenls the iss uance of -c:red its of these impact fees lo developers for the buHdirtg of several roads in Eastern Dublin_ -- 'UWPM """-'.......,~'..,.,,'-""'.. e ATTACHINT 3 e SCHEDULE OF FUNDING F~LlC IMPROVEMENTS e TRAFFIC 1M ACT FEES LISTING OF ACCOUNTS WITH ACflVITY IN FISCAL YEAR 1996/97 , Prior \' t!8!"S Current Year 0/. Dntloper Budget.d CIP % Developer Projttt EJ:pendituR~ Projt!d [,;pt:ndituR:!iI Fee Fua.ded Proj<<t El.pea.ditures Grand Fe>e Funded for AD Funds All Funds Project to Date All Fuod, Projected Projected TDtaI Tbru 6130/116 FiKlill Year 19%J97 TOTAL Expenditures 711m - 613012001 Total E:lpenditu res Du.blin Blvd. "" idening El'Lptnse Developer Fees $999,163,00 S429,582,90 $1,428,745.90 35% $0,00 $1,428,745,90 35% Expense Other Funds $2,113,589,00 S484,41O,57 $2,597,999.57 6:5% $0,0\) $2,597,999.57 65% $3,112,752,00 $913,993,47 $4.026,745.47 1000/. $0.00 $4,026,745.47 1000/. Parallel Rd 1680 Regional Expense Developer Fees: $6,719,00 $66.83 $6,785.83 100% $0.00 $6,785,83 100% Expense Oilier Fends $0,00 $0.00 $0,00 $0.00 $0,0\) $6,719.00 $66.83 $6,785,83 100% $0.00 $6,785.83 100% Dougb. rty lid S P RR to A VB Expense De....eloper Fees $0.00 SO.OO $0,00 0% $792,OUO.00 S792,000.00 92% Expense Orner Funds $1,iJ83.oo $31,293.00 $32,376,00 100% $32,377.00 $64,753.00 8./0 $1,083.00 $31,293,00 $32.376,00 1000/0 $824,377.00 $856,753.00 l~/o East Dublin T1F Category I Expense De....'el(1per Fees $0.00 $198,116.10 S198,116.1O 100% $9.100,000,00 $9,298,116.10 100% Expense Oilier Funds SO.OO $0,00 $0.00 0% SO,OO $0.00 moo $198,116.10 S198, 116.10 lOW. S9,100,000,oo S9,298,116.10 100% Dublin I Silvergate Impronmen1s Expense Developer Fees $111,129,00 S4,647,50 $115,71650 100'/. $ I ,609,854.00 $1,725,63 0,50 95% Expense Other Fund, $0,00 $0.00 $0.00 0'/. $97,446.00 $97,446,00 50/.. $111,129,00 $4.647.50 $115,77650 1000/. ~I,707.J00.00 $1,823,076,50 100% AITACHMENT 4 SCHEDULE OF FUNDING FOR PUBLIC IMPROVEMENTS PARK DEDICATION IMPACT FEES Prio:rYe.an Current Year 'YD Developer Budgeted elP 110/. De....eloper Project ExpeDditnres Project Expenditures F.. Funded Projet.t Expenditures Grand Fee Fu nded rOT All Food. All Funds FTojec1 to Date All Fund. l'Tojec1ed Projected Total Th rn 6I3lI196 Fi.cal Year 1996/97 TOTAL Expend ltuT" 711/97 - 613012001 Totol Elpenditu res Herltog< Center Master Plan Expense Developer Fees $0.00 $4,000.00 $4,000.00 100% $0.00 $4,000.00 100'10 Expense Oilier Funds $0.00 $0.00 $000 SO.OO $0.00 0% $0.00 $4,000.00 $4,000,00 100'10 $0.00 $4,000.00 100% Heritage CeDter Pa rking Lot Expense Developer Fees $0,00 $3,215,00 $3,215,00 100'10 $47,750,00 $50,%5,00 l()O% Expen,e Other Fund, $0,00 $0,00 $0.00 $0,00 $0,00 0% $0,00 $3,215,00 $3,215.00 100% $47,750,00 $50,965.00 ]00% Mape Park Renovatio n Expense Developer Fee, $0,00 $350,373,78 $350,373.78 81% $8,J 41.00 $358,714.78 78% Expense Oilier Fund, $10,500,00 $74,290.74 $84,790.74 19% $15,811.00 $100,601.74 22% $10,500.00 $424,664.52 $435,164.52 100% 524,152.00 $459,316.52 100% e e ATIAIENT4 . . . , RESOLUTION NO, A RESOLUTION OF THE CITY COUNCn.. OF THE CITY OF DUBLIN ...........**..*******......................... MAKING FINDINGS REGARDING UNEXPENDED IMPACT FEES FOR FISCAL YEAR 1997-98 Recitals 1 The City has collected fees for off-site traffic improvements needed as a result of new development, which will not be expended within five years after deposit. The improvements are described in the 1997-98 Update to the 1996-2001 Capital Improvement Program and include the improvements described in Recitals numbers 2 and 3 below 2. Road Parallel to Southern Pacific Ri!!ht-of-Wav - Doul!bertv Road to Dublin Boulevard. Proiect #9686 (Scarlett Drive Extension)- Deposit #1000-331-006 This project would provide a 4-1ane roadway connection between Dougherty Road and Dublin Boulevard (extending from the current Scarlett Drive intersection with Dublin Boulevard and parallel to tbe Soutbern Pacific Railroad Right-of-Way). As of June 30, 1997, the total amount of funds collected for tbis project is $12,400.00. This amount was collected by the City on January 2, 1990. This project will not be needed until development in tbe Dougherty Valley (Contra Costa County) occurS. Development in Dougherty Valley is anticipated within the next several years. Tbe SOurces of all additional monies needed to complete tbe project include additional Future Developer dedications, mitigation fees. contributions, Eastern Dublin Traffic Impact Fees (Category 2); and/or outside grants. It is estimated that tbe timing of the complete contributions needed to complete tbe project will be beyond Fiscal Year 2000/2001 It is possible that phases based upon available funding could begin at an earlier date. 3 Dougberty Road lmorovements (Amador Vallev Boulevard North to City Limits) Proiect #9689- Deposit # 1 000-331-008 Tbis project consists of constructing the ultimate northbound lanes and median from Amador Valley Blvd. north to the City limits. As of June 30, 1997, the total amount of funds collected for this project is $9,328.00. This amount was collected by the City on January 2. 1990. The scope of the project funded in Fiscal Y car 1997/98 has been expanded to include roadway improvements north of Amador Valley Boulevard, The contract for construction was awarded in November of 1997 and Pbase I of the project should be completed in Fiscal Year 1997/98. This pbase will utilize all funds beld for this purpose as of this date. 4. The two projects described in Recitals 2 and 3 above, are referred to as tbe ''Two Traffic Improvements." 5 All ofthe fees described above and unexpended after 5 years (paragraphs 2-3) were collected on January 2,1990, and subject to this resolution, were collected from Dublin Meadows Partners for the Dublin Meadows multi- family housing project. A fmding was made at the time the Dublin Meadows Project was approved, by Council Resolution No. 33-89, that the fees were needed in order to finance the construction of tbe Two Traffic Improvements. Resolution No. 33-89 further found that the purpose of tbe fees was to mitigate the traffic impacts caused by the Dublin Meadows project by construction of the Two Traffic Improvements. EXHIBIT B - , Findinl!s e The Council finds, On the basis ofthe foregoing Recitals, that: A. The fees which have been collected for the Scarlett Drive Extension will remain unexpended in Fiscal Year 1997-98 and the fees collected for Dougherty Road Improvements will be expended in Fiscal Year 1997-98. B. The fees which have been collected for the Two Traffic Improvements will remain committed for construction of the improvements identified in the adopted Capital Improvement Program; C. The purpose to which the fees will be put is for construction of the Two Traffic Improvements, as described above and in the 1997-98 Update to the 1996 - 2001 Capital Improvement Program; D The fees were collected to make the Two Traffic Improvements, which improvements will mitigate traffic impacts caused by the Dublin Meadows Project; and E. The fees which have been collected for the Two Traffic Improvements are needed for construction of the Two Traffic Improvements; and F The sources of funding have been identified for the Two Traffic Improvements. PASSED, APPROVED, AND ADOPTED TillS 6th day of January 1998 AYES. . NOES. ABSENT ABSTAIN Mayor A nEST' City Clerk G:\FlNANCEIAB 1600\FY9697\RESOTRAF,~ .