HomeMy WebLinkAbout09/03/1996, C-7 - ANNUAL STATEMENTS OF REVENUES AND EXPENDITURES FROM DEVELOPMENT IMPACT FEES council °°
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CITY O F SAN LUIS O B I S P O
FROM: Bill Statler, Director of Finance
Prepared By: Linda Asprion, Revenue Manager,'T
SUBJECT: ANNUAL STATEMENTS OF REVENUES AND EXPENDITURES FROM
DEVELOPMENT IMPACT FEES
CAO RECOMWENDATION
Receive and file annual statements of revenues and expenditures from development impact fees
for 1995-96 (water, wastewater and transportation).
DISCUSSION
Background
On September 3, 1991, the Council adopted Ordinance 1200 implementing water and wastewater
impact fees. On April 5, 1994,the Council adopted Ordinance 1256 implementing transportation
impact fees. These fees are to be used in mitigating the impacts of future development on water,
wastewater and transportation facilities. These fees were implemented within the regulatory
guidelines of AB 1600 and continue to be regulated by this legislation. One of the key
requirements of AB 1600 is the following:
The local agency shall make available to the public the beginning and ending balance for
the fiscal year and the fee, interest, and other income and the amount of expenditure by
public facility and the amount of refunds made during the focal year. The local agency
shall review this information at the next regularly scheduled public meeting after the
availability of the information.
In order to comply with these requirements, water, wastewater, and transportation impact fee
statements have been prepared and are included as Exhibits A, B and C respectively.
Impact Fee Statements for Fiscal Year 1995-96
Both the water and wastewater impact fee statements show the amount of fees collected during
fiscal years 1991-92, 1992-93, 1993-94, 1994-95, and 1995-96. The transportation impact fee
statement shows the amount of fees collected during fiscal year 1995-96, as the impact fee was
implemented July 1, 1995. The project and debt service costs listed are the obligations analyzed
in the impact fee study adopted by the Council upon which the fees are based. Since total costs
were used in the analysis, prior expenditures for these facilities are available to be funded by the
impact fees along with current year expenditures. It should be noted that only the percentage of
the expenditures attributable to future development as identified in the impact fee studies for the
Council Agenda Report - Annual Statements of Revenues and Expenditures from
Development Impact Fees
Page 2
wastewater and transportation calculation, and the Urban Water Management Plan for the water
calculation, are identified for funding from the impact fees.
Conclusion
To be in compliance with AB 1600, the City must make available to the public an annual
statement showing the collection of impact fees and how these fees were spent. The attached
exhibits provide the appropriate information to meet the City's responsibility.
EXHIBITS
A. Water impact fee statement for fiscal year 1995-96
B. Wastewater impact fee statement for fiscal year 1995-96
C. Transportation impact fee statement for fiscal year 1995-96
EXHIBIT A
City of San Luis Obispo
Water Impact Fee Statement for Fiscal Year 1995-96
Impact Fees Collected
Water Impact Fees collected in prior years $211,664
Water Impact Fees collected during 1995-96 $86,546
Interest on Impact Fees collected $0
Total Water Impact Fees Available $298,210
Capital Expenditures Funded by Impact Fees
Salinas Reservoir Expansion prior years $538,553
Salinas Reservoir Expansion during 1995-96 $93,821
Total Expenditures $632,374
Percentage applicable to future development* 67.5%
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Debt Service Funded by Impact Fees
1993 Water Revenue Bonds
Debt Service paid during 1993-94 $710,363
Debt Service paid during 1994-95 $756,204
Debt Service paid during 1995-96 $752,704
Total Debt Service $2,219,271
Percentage applicable to future development* 22.5%
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Total Costs Allowable for funding by Water Impact Fees $926,188
Water Impact Fee Balance ($627,978)
* Percentage based upon the Urban Water Management Plan adopted by Council
on November 15, 1994.
EXHIBIT B
City of San Luis Obispo
Wastewater Impact Fee Statement for Fiscal Year 1995-96
Impact Fees Collected
Wastewater Impact Fees collected in prior years $283,919
Wastewater Impact Fees collected during 1995-96 $76,358
Interest on Impact Fees collected $0
Total Wastewater Impact Fees Available $360,277
Debt Service Funded by Impact Fees
1992 State Revolving Fund Loan
Debt Service paid during 1993-94 $2,051,329
Debt Service paid during 1994-95 $2,120,642
Debt Service paid during 1995-96 $2,135,672
Total Debt Service $6,307,643
Percentage applicable to future development* 8%
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Total Costs Allowable for funding by Wastewater Impact Fees $504,611
Wastewater Impact Fee Balance ($144,334)
* Percentage based upon impact fee study adopted by Council on September 3, 1991.
EXHIBIT C
City of San Luis Obispo
Transportation Impact Fee Statement for Fiscal Year 1995-96
Impact Fees Collected
Transportation Impact Fees collected during 1995-96 $224,470
Interest on Impact Fees collected $11,744
Total Transportation Impact Fees Available $236,214
Capital Expenditures Funded by Impact Fees
Madonna Road/Highway 101 Bridge Widening prior years $2,300,000
Percentage applicable to future development* 30.6%
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Railroad Bike Path Phase I — SPRR Right of Way during 1995-96 $181,000
Percentage applicable to future development* 30.6%
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Total Costs Allowable for funding by Transportation Impact Fees $759,186
Transportation Impact Fee Balance ($522,972)
*Percentage based upon Resolution 8406 Setting the Amount of Transportation Impact Fees
adopted by the Council on April 4, 1995.
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