Title
A resolution authorizing the Mayor to adopt the annual update of the Capital Improvements Element and Short Term Work Program for the five year period of 2023 to 2029.
Body
Prepared By:
Tina Garver
Recommendation:
To approve resolution to adopt the capital improvement element of the comprehensive plan
Background:
The City adopted a Captial Improvements Element to its Comprehensive Plan on August 21, 2006 implementing an impact fee program. In order to continue its impact fee program, the City must maintain its Qualified Local Government Status. To maintain its QLG, the City must update its CIE annually by February 28. DCA requires that the local government submit their draft CIE/STWP update to the Regional Development Center no later than 120 days before its recertification date. DCA also states that in no event shall a local government take any official action to adopt or put into effect a CIE until at least 60 days after the CIE is first submitted to the regional development center.
Analysis:
The attached information includes a financial report which outlines the amount of impact fees which were collected and spent during Fiscal Year 2022. The Capital Improvement Update identifies projected project costs, funding sources, and the years the projects will begin and be completed. The Short Term Work Program outlines financial projects for the next 5 years, including those outside the scope of the Capital Improvements Element. The Capital Improvements Update and the Short Term Work Program cover the period of 2023-2029.
Visuals:
None
Summary:
In order to maintain our Qualified Local Government Status to collect impact fees, the attached resolution must be approved to transmit the attached reports to ARC for review.
Attachments:
Financial Statement
Project Update
Updated Short Term Work Program
Report of Accomplishments