City Council Memorandum
TO: HONORABLE MAYOR AND CITY COUNCIL DATE: DECEMBER 6, 2022 FROM: FINANCE DEPARTMENT WARD: 4
SUBJECT: OVERLOOK PARKWAY CROSSING OF THE ALESSANDRO ARROYO DEVELOPMENT IMPACT FEE ACTIVITY STATUS REPORT ISSUE:
Status report on development impact fee activity for the Overlook Parkway Crossing of the Alessandro Arroyo.
RECOMMENDATION:
That the City Council receive the status report on development impact fee activity for the Overlook Parkway Crossing of the Alessandro Arroyo.
BACKGROUND:
Ordinance No. 5903, as outlined in Section 16.48 of the Riverside Municipal Code (RMC) adopted by the City Council on March 12, 1991, requires the City to provide an accounting to the general public for related receipts and expenses for which the fees were used during the fiscal year.
DISCUSSION:
The related development impact fee activity for Overlook Parkway Crossing of the Alessandro Arroyo for Fiscal Year 2021/22 is as follows:
The above balance reflects only actual cash receipts and expenditures. Other commitments against the funds are not reflected (i.e., encumbrances and appropriations); therefore, the balance should not be considered as the available balance. There were no expenditures to report for FY 2021/22.
STRATEGIC PLAN ALIGNMENT:
This item contributes to Strategic Priority 6 – Infrastructure, Mobility & Connectivity and Goal No. 6.2 – Maintain, protect and improve assets and infrastructure within the City’s built environment to ensure and enhance reliability, resiliency, sustainability, and facilitate connectivity.
The item aligns with each of the five Cross-Cutting Threads as follows:
Community Trust – The status report on development impact fee activity for Overlook Bridge enhances transparency regarding the fees and interest received and the amount of expenditures used from those revenue sources.
Equity – The report is neutral towards this cross-cutting thread.
Fiscal Responsibility – The development impact fee report provides fiscal responsibility and accountability to show funds collected are properly spent.
Innovation – The report is neutral towards this cross-cutting thread.
Sustainability & Resiliency – The report demonstrates how the future needs of the bridge along with preventative and ongoing maintenance are accomplished with no debt.
FISCAL IMPACT:
There is no fiscal impact associated with the receipt of this report.
Prepared by: Nancy Garcia, Controller
Certified as to
availability of funds: Edward Enriquez, Interim Assistant City Manager/Chief Financial Officer/City Treasurer
Approved by: Edward Enriquez, Interim Assistant City Manager/Chief Financial Officer/City Treasurer
Approved as to form: Phaedra A. Norton, City Attorney
Overlook Parkway Annual Report Page 2
Overlook Parkway Annual Report Page 3