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 scho...
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