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File #: CM 21-454   
Type: Committee Memo Status: Presented
File created: 9/13/2021 In control: Committee of the Whole - Finance, Administration, and Communications
On agenda: 9/28/2021 Final action: 9/28/2021
Title: 2020 Impact Fee Collection and Distribution Report
Attachments: 1. Agenda Memo, 2. Attachment A: Impact Fee Annual Report - 2020 Impact Fee Summary, 3. Attachment B: Impact Fee Activity Summary for 2020
TO: Committee of the Whole - Finance, Administration, and Communications
FROM: Mayor Angela Birney
DEPARTMENT DIRECTOR CONTACT(S):
Finance
Chip Corder
425-556-2189

DEPARTMENT STAFF:
Finance
Juliana Elsom
Financial Services Manager


TITLE:
title
2020 Impact Fee Collection and Distribution Report


OVERVIEW STATEMENT:
recommendation
The Impact Fee Report is presented for information purposes only per Redmond Municipal Code (RMC) 3.10.190.
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 $5,955,746 in impact fees (net of refund) in 2020 and spent $1,655,290. The total collected and spent for each category is shown below:




Collected
Spent
Balance
Transportation
$2,013,891
$793,504
$14,550,881
Parks
$3,651,488
$861,786
$ 7,117,040
Fire
$ 290,367
$0
$ 1,015,286


Overall impact fee collections for 2020 increased from 2019 collections by $1,171,046 or 24 percent (%). The increase is due to an increase in the total number of building permits issued in 2020 for new dwelling units as well as the timing of revenue collection between the years. A total of $1,504,399 was collected in 2020 for school impact fee and disbursed to Lake Washington School District.
Transportation
Three transportation projects received impact fee funding in 2020. The projects and amounts received are as follows:
152nd Ave NE Improvements
$263,156
Couplet Bond Debt
$467,950
NE 40th Shared Use Path
$62,398
TOTAL
$793,504

Transportation impact fees remaining at the end of 2020 totaled $14,550,881.
Parks
Two parks projects received impact fee funding in 2020. The projects and amounts received are as follows:
RCC...

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