Adopted Capital Improvement Program Budget FY 2024-25 through FY 2029-30

City of Morgan Hill Capital Improvement Program FY 2024 ‐ 25 – FY 2029 ‐ 30

348 ‐ Library Impact – Public Facilities

Fund Description Library Impact Fund revenues are derived from a fee charged to developers to cover the costs to construct library improvements required as a result of new development. Expenditures may only be made for the future construction of the required new or expanded library facilities or to reimburse the City for funds advanced to construct such facilities. The Fund is subject to the restrictions of AB1600.

Project List

2024 ‐ 25 2025 ‐ 26 2026 ‐ 27 2027 ‐ 28 2028 ‐ 29 2029 ‐ 30

PF2006 ‐ Project Administration PF2009 ‐ Library Expansion

$

‐ ‐ ‐

$

‐ ‐ ‐

$ 10,606 $

‐ ‐ ‐

$

‐ ‐ ‐

$ 90,582

80,000

500,000

Totals $

$

$ 90,606 $

$

$ 590,582

How this Fund Generates Money for Capital Investment New development creates the need for the City to expand its inventory of public facilities and build new, or expand current, infrastructure to handle the demands for new services. The City imposes public facilities fees under authority granted by the Mitigation Fee Act (the Act), contained in California Government Code Sections 66000 et seq. A City Council adopted "Impact Fee Report" provides the necessary findings required by the Act for adoption of the fees presented in the impact fee schedules. Limitations and Other Important Factors All development impact fee ‐ funded capital projects are programmed through the City's 6 ‐ Year CIP, by which the City identifies and directs its fee revenue to new public facilities/infrastructure projects that will accommodate future growth. By programming fee revenues to specific capital projects, the City ensures a reasonable relationship between new development and the use of fee revenues as required by the Mitigation Fee Act. Goals for Capital Investment Due to the very significant costs associated with a future Library expansion, there is no planned construction funded within the six ‐ year period. However, planning and potential design work can occur while funds accumulate towards the future expansion.

Revenues ‐ Other includes interest income. Expenditure ‐ Other includes annual transfers ‐ out to the General Fund for administration, civic center debt ‐ service, and an interfund loan transfer to Fund 315 (Public Safety Facilities Impact).

Six ‐ Year Pro Forma

2023 ‐ 24 YE 2024 ‐ 25

2025 ‐ 26

2026 ‐ 27

2027 ‐ 28

2028 ‐ 29

2029 ‐ 30

Fund 348 ‐ LibraryImpact

Projected

Beginning Fund Balance Revenues ‐ Impact Fees

$ 1,408,238 $ 1,695,767 $ 396,438 $ 2,361,692 $ 3,960,048 $ 4,712,342 $ 5,096,741

449,878 60,000

1,386,902

2,111,232 69,508

1,787,665

823,202 151,303

446,420 163,629

308,599 159,205 590,582 229,140

Revenues ‐ Other

27,384

120,116 90,606 218,820

Expenditures ‐ CIP Projects

‐

‐

‐

‐

‐

Expenditures ‐ Other Ending Fund Balance

222,349

2,713,615

215,486

222,210

225,650

$ 1,695,767 $ 396,438 $ 2,361,692 $ 3,960,048 $ 4,712,342 $ 5,096,741 $ 4,744,822