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Home My WebLink About1/13/2016 - STAFF REPORTS - 2.R.Q A`M sp4 c Y N •ro...m cg41F01t CITY COUNCIL STAFF REPORT DATE: SUBJECT: FROM: BY: January 13, 2016 CONSENT CALENDAR CITY OF PALM SPRINGS DEVELOPMENT PROJECT FEE REPORT FOR FISCAL YEAR 2014-15 David H. Ready, City Manager Department of Finance and Treasury SUMMARY The City is required by Government Code Section 66000 to annually prepare a report for the proceeding fiscal year concerning the activity of the City's development project fees. The report must be submitted to the City Council within 180 days of the end of the fiscal year. RECOMMENDATION: 1. Receive and File the City's Development Project Fee Report for Fiscal Year 2014-15. STAFF ANALYSIS: In 1987, Government Code Section 66000 became effective with the passage of Assembly Bill 1600. AB 1600 was enacted to regulate the establishment of any new development fee or fee increase after January 1, 1989. A key provision of the legislation, namely, Section 66006 (b) (1) of the Government Code requires that local agency shall, within 180 days of the close of each fiscal year, make available to the public the following information for each separate account or fund: (a) A brief description of the type of fee in the account. (b) The amount of the fee. (c) The beginning and ending balance of the account. ITEV NO. �- City Council Staff Report January 13, 2016 -- Page 2 Development Project Fee Report for FY 2014-15 (d) The amount of fees collected and interest earned. (e) 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. (f) An identification of an approximate date by which construction of the public improvement will commence if the local agency determines that sufficient funds have been collected to complete financing on an incomplete public improvement, as identified in paragraph (2) of subdivision (a) of Section 66001, and the public improvement remains incomplete. (g) A description of each interfund transfer or loan made from the account, including the public improvement on which the transferred or loaned fees will be expended. In the case of an interfund loan, an identification of that date on which the loan will be repaid, and the rate of interest the account will receive on the loan. In FY 2014-15, the City has five developer project fees subject to the requirements of Government Code Section 66000 -- Drainage Construction, Public Arts, Quimby Act Park, Sewer Connection Fees, and Special Development Fees. Staff has prepared the reports that provide an analysis of each fee. The attached reports have been submitted to the Building Industry Association (BIA) and to the Desert Valleys Builders Association (DVBA) for their review. FISCAL IMPACT: The City must expend or commit developer fees from Drainage Construction Fund, Waste Water Treatment Plant Fund, Quimby Act Park Fund, Public Arts Fund, and Special Development Fund within five years of their receipt and these fees must be accounted for in a separate fund. 02 City Council Staff Report January 13, 2016 -- Page 3 Development Project Fee Report for FY 2014-15 Geoffrey. Kehl, Director of Finance and Treasurer David H. Ready City Manager Attachments: Reports by fund ames Thompson Chief of Staff / City Clerk 03 City of Palm Springs Government Code 66000 Calculation Drainage Construction Fund - # 135 Fiscal Year 2014/15 Beginning Fund Balance 711,255 Fees assessed on new construction for the purpose Revenues: of building and maintaining a drainage and flood Developer Fees 283,828 control system within the City are deposited Investment Income 5,471 in the Drainage Construction Fund GASB 31 Mark -to -Market Value of Investments at June 30 - Expenditures: 5-Year Test has been met Capital Projects (2,222) Ending Fund Balance 998,332 Balance Remaining at Year -End for this fiscal year 312,482 Less: Committed (685,850)f Total Revenues Collected Over the Last 5 years 812,916 Balance Uncommitted 312,482 Excess of Balance Remaining over 5-years of Revenue 0 Cumulative Investment Cumulative Expenditures and Balance Collections Income Revenues Expenditures Committed Commitments Remaining Revenues collected prior to FY 11 7,660,808 3,115,082 10,775,890 10,626,619 149,271 10,775,890 - Revenues collected from FY 11 160,151 8,183 10,944,224 - 168,334 10,944,224 - Revenuescollectedfrom FY 12 60,831 10,639 11,015,694 - 71,470 11,015,694 - Revenues collected from FY 13 106,503 (3,718) 11,118,479 - 102,785 11,118,479 - Revenues collected from FY 14 201,603 15,570 11,335,652 - 193,990 11,312,469 23,183 Revenues collected from FY 15 283,928 5,471 11,624,951 - - 11,312,469 312,482 8,473,724 3,151,227 10,626,619 685,850 Commitment for Future Improvements FY 14/15 %Completed % Funded with Fee Palm Canyon & Tahquitz Creek 24,832 12.78% 100% North Zone Projects 48,933 0.00% 100% Central Zone Projects 68,119 1.63% 100% East Zone Projects 60,501 0.00% 100% Southeast Zone Projects 266,784 1.91% 100% Storm Drain Line 23 61,335 1.35% 100% Line 41 21,055 96.59% 100% Storm Drain Line 20 11,591 0.00% 100% Storm Drain Line 22 5,482 0.00% 100% Storm Drain Line 9 100,000 0.00% 100% Eagle Canyon Drainage 1,454 0.00% 100% Storm Drain Line 6A 6,956 0.00% 100% Storm Drain Line 8 8,808 0.00% 100% 685,850 Beginning Fund Balance Revenues: Developer Fees Investment Income GASB 31 Mark -to -Market Value of Investments at June 30 Expenditures: Capital Projects and Maintenance Ending Fund Balance Less: Committed lBalance Uncommitted Revenues collected prior to FY 11 Revenues collected from FY 11 Revenues collected from FY 12 Revenues collected from FY 13 Revenues collected from FY 14 Revenues collected from FY 15 Commitment for Future Improvements Land Purchase Payment Event Center Construction New Sports Park Skate Park Contingency Demuth Park O CA City of Palm Springs Government Code 66000 Calculation Quimby Act Fees Fund - k 152 Fiscal Year 2014/15 2,252,938 Quimby Act fees collected on new construction for the Purpose of funding public improvements ore deposited 432,976 in the Quimby Act Fees Fund 13,840 2,057 5-Year Test has been met (316,082) 2,385,729 Bala nce Remaining at Yea r-End for this fiscal year 1,337,129 (1,048,600) Total Revenues Collected Over the Last 5 years 1,617,670 1,337,129 Excess of Balance Remaining over 5-years of Revenue 0 Cumulative Investment Cumulative Expenditures and Balance Collections Income Revenues Expenditures Committed Commitments Remaining 3,372,822 435,321 3,808,143 3,119,655 688,488 3,808,143 - 196,728 15,182 4,020,053 - 211,910 4,020,053 - 222,234 25,039 4,267,326 - 148,202 4,168,255 99,071 293,225 (7,501) 4,553,050 - - 4,168,255 384,795 472,507 30,954 5,056,511 - - 4,168,255 888,256 432,976 15,897 5,505,384 - - 4,168,255 1,337,129 4,990,492 514,892 3,119,655 1,048,600 FY 14/15 %Completed %Funded with Fee 371,278 0% 100% 500,000 0% 100% 23,260 0% 100% 13,354 97% 100% 120,409 0% 100% 20,299 19% 100% 1,048,600 Beginning Fund Balance Revenues: Developer Fees Investment Income GASB 31 Mark -to -Market Value of Investments at June 30 Expenditures: Capital Projects and Maintenance ]Ending Fund Balance Less: Committed 113alance Uncommitted Revenues collected prior to FY 11 Revenues collected from FY 11 Revenues collected from FY 12 Revenues collected from FY 13 Revenues collected from FY 14 Revenues collected from FY 15 Commitment for Future Improvements Acanto Housing El Porto Housing Monte Serena Drainage Monte Serena Housing Fire Station Equipment Other Drainage I Bridges/Roads I RP City of Palm Springs Government Code 66000 Calculation Special Development Fund - # 123 Fiscal Year 2014/15 Report 1,511,889 Special building fees assessed on tracts in Specific Plan I in the South Palm Canyon Area are deposited in the 190,614 Special Development Fund 9,991 1,464 5-Year Test has been met 1,713,958 Balance Remaining at Year -End for this fiscal year 133,978 (1,579,980) Total Revenues Collected Over the Last 5 years 925,395 133,978 I Excess of Balance Remaining over 5-years of Revenue 0 Cumulative Investment Cumulative Expenditures and Collections Income Revenues Expenditures Committed Commitments 654,586 91,526 746,112 - 746,112 746,112 3,056 7,550 756,718 - 10,606 756,718 89,999 6,825 853,542 - 96,824 853,542 445,917 (2,157) 1,297,302 - 443,760 1,297,302 195,809 18,778 1,511,889 - 214,587 1,511,889 190,614 11,455 1,713,958 - 68,091 1,579,980 1,579,981 133,977 - 1,579,980 FY 14/15 %Completed %Funded with Fee 90,480 0% 100% 184,080 0% 100% 48,458 0% 100% 277,680 0% 100% 68,332 0% 100% 337,202 0% 100% 573,748 0% 100% 1,579,980 Balance Remaining 133,978 1 113eginning Fund Balance Revenues: Sewer Connection Fees Investment Income GASB 31 Mark -to -Market Value of Investments at June 30 Expenditures: Capital Projects and Maintenance Applied to PY Qualified Expenditures Ending Fund Balance City of Palm Springs Government Code 66000 Calculation Wastewater Treatment Fund - ff 420 Fiscal Year 2014/15 - Sewer Connection Fees are deposited in the Wastewater Treatment fund 1,114,692 - 5-Year Test has been met Balance Remaining at Year -End for this fiscal year 0 (1,114,692) Total Revenues Collected Over the Last 5 years 3,350,959 0 Excess of Balance Remaining over 5-years of Revenue 0 Cumulative Investment Cumulative Expenditures and Collections Income Revenues Expenditures Committed Commitments Revenues collected prior to FY 11 19,657,706 - 19,657,706 24,843,608 - 24,843,608 Revenues collected from FY 11 527,885 - 20,185,591 - - 24,943,608 Revenues collected from FY 12 445,002 - 20,630,593 - - 24,943,608 Revenues collected from FY 13 589,626 - 21,220,219 - - 24,943,608 Revenues collected from FY 14 673,754 - 21,893,973 - - 24,843,608 Revenues collected from FY 15 1,114,692 - 23,008,665 24,843,608 23,008,665 - 24,843,608 - Improvements FY 14/15 %Completed %Funded with Fee 0% 100% 0% 100% 0% 100% 0 v Net Qualified Expenditures in Excess of Fees to be Recovered from Future Fees 5,185,902 4,658,017 4,213,015 3,623,389 2,949,635 1,834,943 2,949,635 Balance Remaining Beginning Fund Balance Revenues: Developer Fees Other Income Investment Income GASB 31 Mark -to -Market Value of Investments at June 30 Expenditures: Operating Expenses Ending Fund Balance Collections Revenues collected prior to FY 11 4,822,876 Revenues collected from FY 11 141,784 Revenues collected from FY 12 148,520 Revenues collected from FY 13 154,197 Revenues collected from FY 14 184,071 Revenues collected from FY 15 250,453 5,701,901 R City of Palm Springs Government Code 66000 Calculation Public Arts Fund -p 150 Fiscal Year 2014/15 198,346 250,453 1,409 Fees assessed on new construction for the acquisition and maintenance of public art are deposited in the Public Arts Fund 5-Year Test has been met Balance Remaining at Year -End for this fiscal year (210,210) Total Revenues Collected Over the Last 5 years 239,998 Excess of Balance Remaining over 5-years of Revenue Cumulative Investment Cumulative Expenditures and Income Revenues Expenditures Committed Commitments 496,333 5,319,209 5,319,209 - 5,319,209 4,704 5,465,697 146,488 - 5,465,697 3,077 5,617,294 151,597 - 5,617,294 2,557 5,774,048 156,754 - 5,774,048 1,461 5,959,580 185,532 - 5,959,580 1,409 6,211,442 11,864 - 5,971,444 509,541 5,971,444 - 239,998 879,025 0 Balance Remaining 239,998