TO:
Honorable Mayor and Members of the City Council
THROUGH:
Talyn Mirzakhanian, City Manager
FROM:
Libby Bretthauer, Finance Director
Emy-Rose Hanna, Financial Services Manager
SUBJECT:Title
Conduct a Public Hearing for Consideration of: (1) Ordinance No. 26-0002, an Ordinance Adopting a Development Impact Fee Program, Amending The Manhattan Beach Municipal Code, and Making Findings of Exemption Pursuant to CEQA; and (2) Resolution No. 26-0010, Approving a Development Impact Fee Nexus Study, Adopting a Capital Improvement Plan as part of the Nexus Study, Establishing the Fee Amounts for the City's Development Impact Fees, and Making Findings of Exemption Pursuant to CEQA (Not Budgeted) (Finance Director Bretthauer).
(Estimated Time: 2 Hrs.)
A) CONDUCT PUBLIC HEARING
B) INTRODUCE ORDINANCE NO. 26-0002
C) ADOPT RESOLUTION NO. 26-0010
Body
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RECOMMENDATION:
Staff recommends that after conducting the public hearing, the City Council introduce Ordinance No. 26-0002 and adopt Resolution No. 26-0010.
FISCAL IMPLICATIONS:
Due to the increase in proposed development, the City will incur increased capital needs and infrastructure costs to address demand caused by such development. Development impact fees (DIFs) are intended to provide the City with adequate revenues to address these critical funding needs.
Based on the City's anticipated growth through 2040, roughly 2,199 new multi-family dwelling units and 127 new single family dwelling units would be added to the City's housing supply. Based on these growth factors and the proposed impact fees, the revenue impact is summarized on slide 64 of the attached PowerPoint Presentation.
To implement the proposed impact fees, additional administrative expenses will be incurred as City staff collect fees, manage the use and application of fee revenues, and prepare annual required reporting related to impact fees. The proposed impact fees include an additional f...
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