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.
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☐ 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 - Linkages |
$147,461 |
|
Downtown Park debt repayment |
$714,325 |
|
TOTAL |
$861,786 |
Parks impact fee remaining at the end of 2020 totaled $7,117,040.
Fire
Fire Impact Fee remaining at the end of 2020 totaled $1,015,286.
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.
Staff will be present at the September 28, 2021, Finance, Administration and Communications Committee of the Whole to answer any questions on the impact fee report. If you have questions prior to that time, please contact either me at 425-556-2189 or Julie Elsom at 425-556-2181.
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 |
|
N/A |
None proposed at this time |
N/A |
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 - 2020 Impact Fee Summary
Attachment B: Impact Fee Activity Summary for 2020