(A) A brief description of the type of fee in the account or fund. (B) The amount of the fee.
Project Fee
n/a n/a
n/a n/a
n/a n/a
n/a n/a
n/a n/a
non-residential
construction or
additions
$5 per gross leasable
square foot
(C) The beginning and ending balance of the account or fund and (D) The amount of the fees collected and the interest earned.
FISCAL YEAR
BEGINNING FUND
BALANCE FEES COLLECTED INTEREST EARNED EXPENDITURES
ENDING FUND
BALANCE
FY 2023-24 -$ 878,830 - - 878,830$ The City is in the process of identifying eligible projects.
F) An approximate date by which the 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.
City of Culver City
Development Impact Fees Report Pursuant to the Mitigation Fee Act Fiscal Year Ended June 30, 2024
Affordable Housing Commerical Development Impact Fee
For the purpose of compliance with Government Code subsection 66006(b)(1), the following information regarding AB 1600 fees is presented:
For each separate account or fund established pursuant to subdivision (a), the local agency shall, within 180 days after the last day of each fiscal year, make available to the public the following information for the fiscal year:
The purpose of this fee is to facilitate the development and availability of affordable housing to a range of households with varying income levels within the City through creation and imposition of a fee on new commercial development, which will partially fund the need for affordable housing created by the workforce of this new commercial development.
Culver City Municial Code #15.06.600 Affordable Housing. The fee was established in January 2022. Funds are accounted for in a separate Affordable Housing Commercial Development Impact Fee Fund #439.
Residential (dwelling unit)
Non-Residential (sq. ft.)
(E) 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. Note: The percentage will be reported upon completion of the project/s.
No expenditures were incurred during this reporting period. 1 of 2
City of Culver City
Development Impact Fees Report Pursuant to the Mitigation Fee Act Fiscal Year Ended June 30, 2024
Affordable Housing Commerical Development Impact Fee
No refunds were made during this reporting period.
(A) Identify the purpose to which the fee is to be put. (B) Demonstrate a reasonable relationship between the fee and the purpose for which it is charged Spending Plan
Funding Source -
Impact Fee
Funding Source -
Local Funds
Funding Source - Misc.
Grants
N/A N/A N/A N/A
$ -
No interfund transfers or loans were made during this reporting period. (G) 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.
(H) The amount of refunds made pursuant to subdivision (e) of Section 66001 and any allocation pursuant to subdivision (f) of Section 66001.
Project Name
N/A; fee established January 2022. Five-
year finding will be included in FY 2026-27
report.
TOTAL
For the purpose of compliance with Government Code subsection 66001(d), the following information regarding AB 1600 fees is presented:
Every fifth year the local agency shall make all of the following findings with respect to that portion of the account or fund remaining unexpended, whether committed or uncommitted:
N/A; fee established January 2022. The first five-year finding will be included in FY 2026-27 report.
N/A; fee established January 2022. The first five-year finding will be included in FY 2026-27 report. (C) Identify all sources and amounts of funding anticipated to complete financing in incomplete improvements identified in paragraph (2) of subdivision (a); and (D) Identify the approximate date on which the funding referred to in item C is expected to be deposited in the appropriate account or fund. 2 of 2