Title
A Resolution of the City Commission amending the Fiscal Year 2021-2022 amended budget to recognize as revenue 1st quarter Coral Gables Impact Fee receipts as well as prior year receipts (Underline) and to appropriate such funds to put toward the cost of capital improvement infrastructure projects; and providing an effective date.
Body
In compliance with Ordinance 2007-27, as well as the revised impact fee schedule as approved by Resolution 2017-67, the City collects various impact fees to help fund capital improvement projects that qualify as enhancing services for residents, business owners and visitors.
As of 11/29/21 staff has identified Fiscal Year 2021-2022 1st quarter receipts as well as prior year receipts (Underline) for the following impact fee categories:
Service Fee & Inv. Earnings - $ 50,000 (To Minorca Garage)
Police - $ 162,679 (To purchase Dispatch System)
Fire - $ 130,850 (To Fire House 4)
Municipal - $ 396,256 (To Minorca Garage)
Parks - Land Purchase - 65% - $ 388,916 (To Land Purchase Project)
Parks - Enhancement - 35% - $ 209,417 (To Phillips Park Project)
Parks - Underline - $1,984,221 (To Underline Project)
Mobility - $ 699,933 (To Minorca Garage)
Mobility - Underline - $2,065,738 (To Underline Project)
A budget amendment is required to recognize the receipts as revenue, and to appropriate such funds to put toward capital infrastructure projects that are consistent with the Coral Gables Impact Fee Ordinance mandating the appropriate use of the funds.