1643628.2
ADVANCE AGENDA ITEM
City of Westlake Village
December 4, 2024
Agenda Item: Consent Calendar No. 1
TO: Mayor and City Council
FROM: Rob de Geus, City Manager
SUBJECT: ARTERIAL SYSTEM FINANCING PROGRAM ANNUAL REVIEW Westlake Village Municipal Code Section 7.3.100 states the Arterial System Financing Program Annual Review Report must be posted for public review 15 days before City Council reviews.
Attached is the report and it is posted as an Advance Agenda Item.
Prepared by: Mark Wessel, City Traffic Engineer
Attachment: ASFP Annual Review
241204 Staff Report - ASFP Annual Review.docx
1643628.2
WESTLAKE VILLAGE
ARTERIAL SYSTEM FINANCING PROGRAM
FISCAL YEAR 2023-2024 FEE REVIEW
BACKGROUND
The Arterial System Financing Program (ASFP) was established in 1991 and last updated in 2012. In accordance with the Mitigation Fee Act and the Traffic Impact Fee Ordinance, this fee review provides a status report of the program and a summary of activity for Fiscal Year 2023-2024.
FEE DESCRIPTION
The fees in the ASFP fund are traffic impact fees imposed on new development, development expansion, and development intensification.
FEE AMOUNT
The current amount of the ASFP fee is $2,878 per PM peak hour trip generated by proposed development.
FUND BALANCE
The balance at the beginning of the fiscal year was: $ (446,618.70) The balance at the end of the fiscal year was: $ (268,788.07)
REVENUE
Fees collected during the fiscal year: $ 0.00
MTA Grant funds*: $ 177,830.63
Interest earned during the fiscal year: $ 0.00
Total: $ 177,830.63
EXPENDITURES
There were no expenditures during the fiscal year.
INTERFUND TRANSFERS/LOANS
There were no interfund transfers or loans to or from the ASFP fund during the fiscal year.
REFUNDS/ALLOCATIONS
There were no refunds from or allocations of the ASFP fund during the fiscal year. * The City's Capital Improvement Program Fund provides interim funding for ASFP projects until MTA grant funds are received.