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Finance director says impact-fee annual report shows compliance and $4 million park impact balance
Summary
City staff presented the 2024 annual impact fee report covering park and transportation impact fees, noting legal requirement to spend impact fees within 10 years, a current park impact fee balance of about $4 million and that funds are being set aside for the community event center.
City staff presented the city's 2024 annual impact fee report to the finance committee, describing receipts, expenditures and the projects charged to park and transportation impact fees.
Director Bond told the committee the report tracks compliance with the legal requirement to spend collected impact fee money within 10 years of receipt. “We are required, under law, we have to spend any impact fee money that's been received within 10 years of receiving those…
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