Laserfiche WebLink
CITY OF <br />F NEWPORT REACH <br />City Council Staff Report <br />November 25, 2014 <br />Agenda Item No. 16 <br />TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL <br />FROM: Dan Matusiewicz, Finance Director — (949) 644-3123, <br /> <br />PREPARED BY: Rukshana Virany, Accounting Manager <br />PHONE: (949) 644-3146 <br />TITLE: Annual Reporting on Development Impact Fees & Development Agreements <br />ABSTRACT: <br />Pursuant to the Mitigation Fee Act (Government Code Section 66000, at seq.), the City is required to <br />report on the receipt and use of development impact fees. <br />Regarding Development Agreements (Government Code Section 65865(e)), the City is required to comply <br />with the reporting requirements in Government Code Section 66006 with respect to any fee the City <br />receives or cost it recovers. <br />RECOMMENDATION: <br />Staff recommends that the City Council receive, review and file the Annual Reports on Development <br />Impact Fees (Exhibit A), and Development Agreements (Staff Report Exhibit B). <br />FUNDING REQUIREMENTS: <br />There are no funding requirements related to this item. <br />DISCUSSION: <br />The Mitigation Fee Act (hereafter "the Act") requires each agency that imposes development impact fees <br />to submit annual and five (5) -year reports providing specific information about the receipt and use of such <br />fees. Fees collected must be placed in separate accounts and not commingled with other sources of <br />general revenues. Interest on each account must be credited to that account and used only for the <br />purpose for which the fees were collected. The Act also requires that the City make periodic findings in <br />order to justify continued receipt of unexpended funds, or possibly be subject to refunding portion of such <br />funds. <br />16-1 <br />