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city of cotton Agenda Report Council Meeting of March 7, 20Q0 Page 6 FISCAL IMPA�T: The attached +Ordinance if approved and adopted wiN have the following fiscal impact: (1) Generally, it is anticipated that revenues wili increase as new fees for Ciuic Center Development, Fire Protection Development, Library Development, and the Layv Enforcement Facilities Development will be collected. Additionally, 'rt is anticip�ted that revenues will increase as a result of the recommended Park Fee changes as recommended by the Capital Infrastructure Study and the recommended changes to the City of Colton Quimby Ordinance. (2) Generafly, it is anticipated that traffic mitigation fee revenues will decrease as we ar�: recornmending that traffi� fees be reduced in basically ali tand use categories. Actual fiscal impact with regards to traffic mitigation revenues may in realoty increase as we would anticipate less project-by-project negotiations with r�gards to traffic mifigation fees (campared to such negotiations that currenfily exist} if the recommended traf#ic mitigation fees were adapted. Finally, each �of the fees paid pursuant to the attached Ordinance shall be placed in separate funds each of which may be further segregated by specific projects. These funds shall b�e known as the Civic Center Developmer►t Fund, the Fire Protection Development Fund, the Library Deveiopment Fund, and the Law Enfarcement Development Fund. The City o# Colton currently has established Park Development and Traffic Irr�pact Funds. These funds, and the interest earned therean, shall be restricted, ancl shall be expended solely for the construction and/or acquisition of the corresponding public facilities as indicated in the Capital Infrastructure Study, ar for reimbursement for construction and/or acquisition of th e public facilities. Daryl J. rrish, Assistant City Manager RECOMMENCIATION: Staff recommends that the Gity Council waive full reading and pass the first reading of 4rdinanee, regarding the acceptance of the "Capital Infrastructure Study" and the "Revisions to the Mohle Grover Study" and the revised development impact fees contained witt�in. Additionally, staff recommends that the City Council amend the City of Cofton Qui�nby Act Ordinance to include apartments, subdivisions with less than five (5) lots, and single family permits making them subject to development impact fees. Staff recomm�nds that the changes if adopted by the attached Ordinance become effective July 1, 2000. Finally, staff recommends that a Negative Declaration be approved for t��e Study. Attachments .. , _ ---_ , _-- --� - . ,- - —, I