FY 2021 2122 ADOPTED OPERATING AND FY 2021 2526 CIP BUDGETS

CITY OF MORGAN HILL CAPITAL IMPROVEMENT PROGRAM

375 - Quimby Fee

Fund Description Park Quimby Fund revenues are received from developers paying Park Fees based on the Quimby Act and the City's municipal code. The funds may only be used for design, development, construction and renovation of parks. How this Fund Generates Money for Capital Investment Quimby fee revenues are intended for the capital investment into the development of new parks or the renovation of existing parks. The City imposes fees under authority granted by the Quimby Act (the Act), contained in California Government Code. The City Municipal Code requires payment by developers per the Act. Quimby Act Fees are charged to residential development for projects that require subdivision; Park Impact Fees are charged to residential development that does not require subdivision. Limitations and Other Important Factors Park Quimby Funds must be used as prescribed in the State Government Code, which may include design, development, construction and renovation of parks.

Goals for Capital Investment The goal is to renovate existing parks, improving the facilities for increased use by residents of the City.

Project List Summary Projects

2020-21

2021-22

2022-23

2023-24

2024-25

2025-26

118020 - Park Renovation

$100,000 $100,000

$500,000 $1,500,000 $1,500,000 $1,500,000 $1,500,000

Totals

$500,000

$1,500,000

$1,500,000

$1,500,000

$1,500,000

Six-Year Pro Forma

2020-21

2021-22

2022-23

2023-24

2024-25

2025-26

2019-21 YE Projected

Beginning Fund Balance Revenues - Non- AB1600 RDCS Revenues - Other Expenditures - CIP Projects Expenditures - Other Ending Fund Balance

$972,238 $2,095,790

$2,179,257

$2,302,274 $2,465,828

$1,072,238

$1,623,552

$1,583,467

$1,623,017

$1,663,554

$1,705,103

$100,000

$500,000 $1,500,000 $1,500,000 $1,500,000 $1,500,000

$972,238 $2,095,790

$2,179,257

$2,302,274 $2,465,828

$2,670,931

2021-2026 Six Year Capital Improvement Program

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