FY 2021 2122 ADOPTED OPERATING AND FY 2021 2526 CIP BUDGETS

CITY OF MORGAN HILL CAPITAL IMPROVEMENT PROGRAM

348 - Library Impact

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 library facilities or to reimburse the City for funds advanced to construct such facilities. Fund is subject to the restrictions of AB1600. How this Fund Generates Money for Capital Investment New development creates the need for City to expand its inventory of public facilities and build new, or add on to 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 impact fee schedules. Limitations and Other Important Factors All development impact fee-funded capital projects are programmed through the City's 6-Year Capital Improvement Plan (CIP), by which the City identifies and directs its fee revenue to new public facilities/infrastructure projects that will accommodate future growth. Goals for Capital Investment Due to the limited anticipated funds to be collected, there are no new projects anticipated in the six-year period and the goal is to accumulate funding towards future expansion of the Library.

Project List Summary Projects

2020-21

2021-22

2022-23

2023-24

2024-25

2025-26

210020 - Public Facilities-Project Administration

$30,000

Totals

$30,000

Six-Year Pro Forma

2019-21 YE Projected

2020-21

2021-22

2022-23

2023-24

2024-25

2025-26

Beginning Fund Balance Revenues - Impact Fees (AB1600) Revenues - Non- AB1600 RDCS Revenues - Other Expenditures - CIP Projects Expenditures - Other Ending Fund Balance

$2,987,436

$272,322

$1,246,158

$2,107,071 $2,662,505

$3,234,816 $3,824,423

$589,070

$1,111,328

$963,698

$657,796

$674,241

$691,097

$708,375

$205,109

$113,393

$113,919

$114,456

$115,004

$115,563

$116,133

$3,288,570

$30,000

$220,723

$220,885

$216,704

$216,818

$216,934

$217,053

$217,174

$272,322

$1,246,158

$2,107,071

$2,662,505

$3,234,816

$3,824,423

$4,431,757

2021-2026 Six Year Capital Improvement Program

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