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Meeting Date:
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Category:
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Type:
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Subject:
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17.5 Resolution 23/24-46 Developer Impact Fee Adjustment |
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LCAP (Local Control Accountability Plan) Goal:
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Enclosure:
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File Attachment:
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Summary:
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By state law, school districts are authorized to assess developer
impact fees to offset the cost of providing facilities for students resulting from new development. Previously, the maximum
allowable developer impact fee was $4.79 per square foot for
residential development and $0.78 per square foot for
commercial/industrial development. The maximum fee is allocated
two-thirds for the elementary districts and one-third for MVLA.
At its January 24, 2024 meeting, the SAB adopted an increase, effective January 1, 2024. The maximum allowable fee increased to
$5.17 per square foot for residential development and $0.84 for
commercial/industrial development, of which the MVLA share is
$1.72 for residential and $0.28 for commercial/industrial.
The 2020 MVLA impact fee justification study establishes that, based
on the expected cost of providing facilities for students resulting from new development, the District is justified in charging fees up to
$1.72 per square foot for residential development and $0.28 per
square foot for commercial/industrial development.
Currently, MVLA developer impact fees are $1.60 for residential and
$0.26 for most commercial/industrial development. Revenue for the
2022-2023 fiscal year was $1,683,758.77. The revenue fees in
recent years have been used for debt service on certificates of
participation, the proceeds of which were used to construct
additional classrooms and classroom support space.
This resolution increases the residential fee to $1.72 per square foot.
The commercial/industrial fee will increase to $0.28 per square foot.
A Notice of Public Hearing was published in the Mountain View Voice
on February 12th through 18th and March 4th through 10th. This increase will become effective on May 20, 2024, sixty days after Board approval. |
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Funding:
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The increase in revenue will assist the Capital Facilities Fund (25) to
meet its future expenditure obligations. |
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Recommendation
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Certify Resolution No. 23/24-46, Developer Impact Fee Adjustment, increasing the developer impact fee on residential development from $1.60 per square foot to $1.72 per square foot and the commercial development fee from $0.26 per square foot to $0.28 per square foot. |
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Approvals:
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Recommended By: |
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Signed By: |
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Irene Aguilar - Administrative Assistant |
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Signed By: |
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Mike Mathiesen - Associate Superintendent |
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Signed By: |
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Nellie Meyer - Superintendent |
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