TO: Internal Committee - Internal Services/Public Safety
FROM: Mayor Angela Birney
DEPARTMENT DIRECTOR CONTACT(S):
|
Finance |
Kelley Cochran |
425-556-2749 |
DEPARTMENT STAFF:
|
Finance |
Juliana Elsom |
Finance Manager |
TITLE:
title
2021 Impact Fee Collection and Distribution Report
OVERVIEW STATEMENT:
recommendation
This report is presented to meet the reporting requirements of RMC 3.10.190, Annual Impact Fee Report. The provision requires the Finance Department to prepare a report on each impact fee account showing the source and amount of all moneys collected, earned, or received, and the system improvements that were financed in whole or in part by the impact fees. The report is provided to Council after the completion of the annual financial report. The report is delayed due to the timing of the City’s annual audit that concluded on January 24, 2023.
Staff will be present at the February 28th, 2023, Finance, Administration and Communications Committee of the Whole to answer any questions.
body
☐ Additional Background Information/Description of Proposal Attached
REQUESTED ACTION:
☒ Receive Information ☐ Provide Direction ☐ Approve
REQUEST RATIONALE:
• Relevant Plans/Policies:
N/A
• Required:
Per RMC 3.10.190 the City of Redmond Finance Department shall prepare a report on each impact fee account.
• Council Request:
N/A
• Other Key Facts:
N/A
OUTCOMES:
In total, the City collected $16,594,494 in impact fees (net of refund) in 2021 and spent $4,019,304. The total collected and spent for each category is shown below:
|
|
Collected |
Spent |
Balance |
|
Transportation |
$11,785,725 |
$1,500,889 |
$24,934,196 |
|
Parks |
$ 4,443,901 |
$2,518,415 |
$ 9,085,493 |
|
Fire |
$ 364,868 |
$0 |
$ 1,385,918 |
Overall impact fee collections for 2021 increased from 2020 collections by $10,638,748 or 179 percent (%). The increase is due to an increase in the total number of permits related to large developments underway. A total of $2,932,095 was collected in 2021 for school impact fee and disbursed to Lake Washington School District.
Transportation
There are several transportation projects that received impact fee funding in 2021 as shown below. Transportation impact fees remaining at the end of 2021 totaled $24,934,196.
|
152nd Avenue NE Improvements |
$418,181 |
|
NE 40th Shared Use Path |
$501,097 |
|
Transportation Master Plan |
$50,000 |
|
Traffic Counting |
$58,000 |
|
Redmond Way Bridge at 76th |
$6,761 |
|
Couplet Conversion Bond Debt |
$466,850 |
|
|
|
|
TOTAL |
$1,500,889 |
Parks
Two parks projects received impact fee funding in 2021 as shown below. Parks impact fees remaining at the end of 2021 totaled $9,085,493.
|
Senior Center Renovation |
$1,619,552 |
|
Downtown Park debt repayment |
$898,863 |
|
TOTAL |
$2,518,415 |
Fire
Fire Impact Fee remaining at the end of 2021 totaled $1,385,918.
COMMUNITY/STAKEHOLDER OUTREACH AND INVOLVEMENT:
• Timeline (previous or planned):
N/A
• Outreach Methods and Results:
N/A
• Feedback Summary:
N/A
BUDGET IMPACT:
Total Cost:
N/A
Approved in current biennial budget: ☐ Yes ☐ No ☒ N/A
Budget Offer Number:
N/A
Budget Priority:
N/A
Other budget impacts or additional costs: ☐ Yes ☐ No ☒ N/A
If yes, explain:
N/A
Funding source(s):
N/A
Budget/Funding Constraints:
N/A
☐ Additional budget details attached
COUNCIL REVIEW:
Previous Contact(s)
|
Date |
Meeting |
Requested Action |
|
N/A |
Item has not been presented to Council |
N/A |
Proposed Upcoming Contact(s)
|
Date |
Meeting |
Requested Action |
|
2/28/2023 |
Committee of the Whole - Finance, Administration, and Communications |
Receive Information |
Time Constraints:
Redmond Municipal Code section 3.10.190 Annual Impact Fee Report requires the Finance Department to report the revenues and expenditures associated with impact fees annually.
ANTICIPATED RESULT IF NOT APPROVED:
N/A
ATTACHMENTS:
Attachment A: Impact Fee Annual Report - 2021 Impact Fee Summary
Attachment B: Impact Fee Activity Summary for 2021