Title
HEARING - Department of Transportation recommending the Board adopt and authorize the Chair to sign Resolution 079-2024 for the 2024 Traffic Impact Fee Schedule Annual Update.
FUNDING: Traffic Impact Fee Program.
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DISCUSSION/BACKGROUND
On December 8, 2020 (Item 39, Legistar 20-1585), the Board adopted the Major Update to the Traffic Impact Fee (TIF) Program (formerly the Traffic Impact Mitigation (TIM) Fee Program) via Resolution 196-2020, as required by the General Plan and in compliance with state law. General Plan Implementation Measure TC-B and County Ordinance No. 5144 (Ordinance 5144) state that the fee program shall be updated annually for changes in project costs, and County Ordinance No. 5173 (Ordinance 5173) updated the cost index used to make the annual update.
Ordinance 5173 states, “The TIF amounts shall be adjusted for inflation no later than the end of the third fiscal quarter of each year in accordance with the percentage change published by the Engineering News Record [ENR] Construction Cost Index, or if such index ceased to be published, by an equivalent index chosen by the Director, with appropriate adjustments for regional and local construction costs as necessary [...] The Director shall notify the Board at a public meeting of the proposed fee adjustment. No fee adjustment shall be effective until approved by the Board. Any fee adjustment approved by the Board shall be effective on July 1st of the year in which the action is taken, or at such other time as is provided by law.”
The purpose of today’s hearing is to adopt the 2024 Annual Update to the TIF Program, which adjusts project costs. The 2024 Annual Update to the CIP updates the cost estimates from the 2023 TIF Program update either based on actual changes in projects’ cost estimates, or as adjusted for inflation using the ENR Construction Cost Index. The TIF for all zones and land use types are shown in Exhibit A of the proposed Resolution (see Attachment C), and c...
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