City Council Memorandum
TO: HONORABLE MAYOR AND CITY COUNCIL DATE: DECEMBER 17, 2024 FROM: FINANCE DEPARTMENT WARDS: ALL
SUBJECT: development Impact fee activity STATUS REPORT
ISSUE:
Status report on development impact fee activity for Overlook Parkway Crossing at Alessandro Arroyo, Local Parks, Regional and Reserve Parks, and Trails.
RECOMMENDATION:
That the City Council receive and file the status report on development impact fees for Overlook Parkway Crossing at Alessandro Arroyo, Local Parks, Regional and Reserve Parks, and Trails.
BACKGROUND:
Resolution No 17705 was adopted by the City Council on March 12, 1991, which established a development impact fee for Overlook Parkway Crossing of the Alessandro Arroyo as authorized by Section 16.48 of the Riverside Municipal Code.
Resolution No’s. 21307, 21308, and 21309, were adopted by the City Council on January 9, 2007, which established development impact fees for Local Parks, Regional and Reserve Parks, and Trails as authorized by Section 16.60, 16.44, and 16.76 of the Riverside Municipal Code, respectively.
Government Code Section 66000 et al. and Sections 16.48, 16.44, and 16.76 of the Riverside Municipal Code (RMC) require the City provide the general public with an accounting of related receipts and expenditures, specifying how the fees were used during the fiscal year.
DISCUSSION:
The impact fees activity for fiscal year 2023/24 are as follows:
The above balances reflect only actual cash receipts and expenditures. Other commitments against the funds are not reflected (i.e., encumbrances and appropriations); therefore, the balances should not be considered as available balances. Expenditure Detail listings for Fiscal Year 2023/24 are attached. There were no expenditures for the Overlook Parkway Crossing at Alessandro Arroyo in FY 2023/24.
STRATEGIC PLAN ALIGNMENT:
This item contributes to Strategic Priority 1 – Arts, Culture and Recreation and Goal No. 1.3, Improve parks, recreational amenities, open space, and trail development, and fulfill critical lifecycle and facility maintenance needs.
This item also 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 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 helps ensure impact fee revenues are spent in a sustainable way without compromising future needs.
FISCAL IMPACT:
There is no fiscal impact associated with receipt of this report.
Prepared by: Ryan Carter, Controller
Approved by: Kristie Thomas, Finance Director/Assistant Chief Financial Officer Certified as to
availability of funds: Kristie Thomas, Finance Director/Assistant Chief Financial Officer Approved by: Edward Enriquez, Assistant City Manager/Chief Financial Officer/Treasurer
Approved as to form: Jack Liu, Interim City Attorney
Attachments:
Local Park Development Impact Fees - Expenditure Detail Regional and Reserve Parks Development Impact Fees - Expenditure Detail Trails Development Impact Fees - Expenditure Detail
Local Parks Annual Report Page 2