Item 3 — original pdf

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M E M O R A N D U M TO: FROM: Mayor, City Council, and Impact Fee Advisory Committee Dan Hennessey, P.E., PTOE, Consulting Engineer Austin Transportation Department DATE DATE: SUBJECT: Street Impact Fee Biannual Update ___________________________________________________________________________ The tables and charts on the following pages summarize the administration and operations of the Street Impact Fee (SIF) program as of DATE. This report is based on financial information reported in the City’s accounting and accounts receivable systems. Street Impact fees collected in the period from June 22, 2022 to DATE totaled $w,www,www. The interest earned on collected fees in this time period totaled $xx,xxx. Administrative offsets for affordable housing and other exempted land uses totaled $ccc,ccc. Offsets for reduced trip generation due to proximity to transit, a mix of project uses, or decreased parking supply totaled $uuu,uuu. Offsets for construction of transportation improvements totaled $ggg,ggg. These reductions represent a rr% reduction from the maximum SIF collection based on the rate set by City Council in the approved Ordinance adopting the program. These reductions do not include the 18-month moratorium on fee collection after the approval of the Street Impact Fee program in December 2020. Street fees collected since the inception of the program total $y,yyy,yyy. To date, $zzz,zzz has been spent on eligible projects from the Street Impact Fee program. With all collected interest included, the total cash balance from collected Street Impact Fees is $a,aaa,aaa. The maximum SIF liability for projects that have paid the SIF to date was $t,ttt,ttt, or ss% more than has been collected. As compared to FYprevious, the SIF program collected an additional $bbb,bbb. Service Area High had the highest collection of fees in the period summarized in this memo ($hhh,hhh). Service Area High2 currently has the highest balance of cash for eligible projects ($j,jjj,jjj). Service Area Low had the lowest collection of fees in the period summarized in this memo ($LLL,LLL). Service Area Low2 currently has the lowest balance of cash for eligible projects ($k,kkk,kkk). Please contact Dan Hennessey (dan.hennessey@austintexas.gov, 512 574 1305) with any questions or for more information. CC: Gina Fiandaca, Assistant City Manager Richard Mendoza, P.E., Acting Director, Austin Transportation Department Upal Barua, P.E., PTOE, Development Officer Delivering a safe, reliable, and sustainable transportation system that enhances the environment and economic strength of the region. Mayor, Council Members, and Impact Fee Advisory Committee Page 2 October 20, 2022 Texas Local Government Code, Chapter 395, Section 395.058, requires that the Impact Fee Advisory Committee “file semiannual reports with respect to the progress of the capital improvements plan and report to the political subdivision any perceived inequities in implementing the plan or imposing the impact fee.” This report supports the committee by providing financial information about the collection of impact fees, and the value of fee waivers and exemptions. Waivers are granted for policy reasons or are negotiated by City Council; exemptions are allowed under legal code or statute. In this report waivers are shown for the specific eligible exemption. The ensuing pages show the following information that may be of interest to the Mayor, City Council, the Impact Fee Advisory Committee, and/or members of the general public: Page 3 (Figure 1) shows the Street Impact Fees collected, detailing fee collection and interest earnings, by fiscal year. Page 3 (Figure 2) shows the total amount of Street Impact Fees spent against the total amount collected (plus earned interest) by fiscal year. Page 4 (Figure 3) details the total amount of Street Impact Fee waived/exempted, with a comparison to the Street Impact Fee collected, by fiscal year. Page 4 (Figure 4) details the total amount of Street Impact Fee waived/exempted by category by fiscal year. Page 5 (Figure 5) is similar to Chart 1 but shows the total amount collected since the inception of the Street Impact Fee program in each Service Area. Page 5 (Figure 6) is similar to Chart 2 but shows the total amount of Street Impact Fees spent against the total amount collected (plus earned interest) since the inception of the Street Impact Fee program in each Service Area. Page 6 (Figure 7) is similar to Chart 3 but shows the total amount of Street Impact Fee waived/exempted, with a comparison to the Street Impact Fee collected, since the inception of the Street Impact Fee program in each Service Area. Page 6 (Figure 8) is similar to Chart 4 but shows the total amount of Street Impact Fee waived/exempted by category since the inception of the Street Impact Fee program in each Service Area. Page 7 shows a ledger sheet for the total Street Impact Fee program both in the most recent six- month period and since its inception. Page 8 contains a set of definitions related to Local Government Code 395 which governs the establishment and administration of impact fee programs in the State of Texas, as well as additional references which contain more detailed information about the collection and expenditure of the Street Impact Fee. Delivering a safe, reliable, and sustainable transportation system that enhances the environment and economic strength of the region. Mayor, Council Members, and Impact Fee Advisory Committee Page 3 October 20, 2022 Figure 1: Street Impact Fee Collections by Fiscal Year $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 e u n e v e R e u n e v e R $- Interest Collections FY21 $- $- FY22 $41,159 $823,177 FY23 $161,892 $3,237,846 FY24 $165,919 $3,318,378 FY25 $160,981 $3,219,622 FY26 $162,909 $3,258,178 Figure 2: Street Impact Fee Expenditures by Fiscal Year $- Collections Expenditures FY21 $- $- FY22 $823,177 $- $3,237,846 FY23 $- FY24 $3,318,378 $2,046,760 FY25 $3,219,622 $2,133,633 FY26 $3,258,178 $3,714,584 Delivering a safe, reliable, and sustainable transportation system that enhances the environment and economic strength of the region. Mayor, Council Members, and Impact Fee Advisory Committee Page 4 October 20, 2022 Figure 3: Street Impact Fee Collections & Credits by Fiscal Year $- Credits Collections FY21 $- $- FY22 $166,495 $823,177 FY23 $699,284 $3,237,846 FY24 $691,781 $3,318,378 FY25 $736,296 $3,219,622 FY26 $609,658 $3,258,178 Figure 4: Street Impact Fee Credits by Type by Fiscal Year Affordable Housing Exempted Land Uses Internal Capture Transit Proximity Parking FY21 FY22 FY23 FY24 FY25 FY26 Delivering a safe, reliable, and sustainable transportation system that enhances the environment and economic strength of the region. e u n e v e R e u n e v e R $4,500,000 $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $- Mayor, Council Members, and Impact Fee Advisory Committee Page 5 October 20, 2022 Figure 5: Street Impact Fee Collections to Date by Service Area Collections Interest e u n e v e R e u n e v e R $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $- $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $- A B C D DT E F J K L M N O P H G Service Area I Figure 6: Street Impact Fee Expenditures by Service Area Collections Expenditures A B C D DT E F G H I J K L M N O P Delivering a safe, reliable, and sustainable transportation system that enhances the environment and economic strength of the region. Service Area Mayor, Council Members, and Impact Fee Advisory Committee Page 6 October 20, 2022 Figure 7: Street Impact Fee Collections & Credits by Service Area Collections Credits e u n e v e R e u n e v e R $1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $- $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $- A B C D DT E F J K L M N O P G H Service Area I Figure 8: Street Impact Fee Credits by Type by Service Area Affordable Housing Exempted Land Uses Internal Capture Transit Proximity Parking A B C D DT E F G H I J K L M N O P Delivering a safe, reliable, and sustainable transportation system that enhances the environment and economic strength of the region. Service Area Mayor, Council Members, and Impact Fee Advisory Committee Page 7 October 20, 2022 Fill in Ledger Sheet Delivering a safe, reliable, and sustainable transportation system that enhances the environment and economic strength of the region. Mayor, Council Members, and Impact Fee Advisory Committee Page 8 October 20, 2022 Definitions • Street Impact Fee: a fee, charge, or assessment for roadway facilities imposed on new development by the City to recoup all or part of the costs of capital improvements or facility expansion necessitated by and attributable to such new development • Service Area: the geographic area within the City’s corporate limits that Street Impact Fees will be collected for new development; the fees collected in a service area must be spent in the same service area for associated improvements • Eligible Projects: roadway capacity projects identified in the Street Impact Fee Roadway Capacity Plan that are eligible to be funded with Street Impact Fees • Waiver/Exemption: a reduction in street impact fee owed • Affordable Housing Credit: a reduction in street impact fee given to developments that contain affordable housing, determined based on the number of Affordable Housing units contained within the development • Exempted Land Uses: developments that are exempt from street impact fees due to the proposed land use in certain service areas (e.g., banks and supermarkets in Service Areas D, G, O, and P) • Parking Reduction: a reduction in street impact fee given to developments that include design, program, and policy elements that would decrease demand for single-occupant automobile trips to/from the development • Transit Reduction: a reduction in street impact fee given to developments that are near to existing transit service that would decrease demand for single-occupant automobile trips to/from the development • Internal Capture: a reduction in street impact fee given to mixed-use developments that have trips anticipated to begin and end within the development References • Council Ordinance 20201210-061: Adoption of Street Impact Fee Program • Council Ordinance 20201210-062: Establishing Street Impact Fee Program • Austin Strategic Mobility Plan (ASMP) • Street Impact Fee Webpage • Project Development Webpage Delivering a safe, reliable, and sustainable transportation system that enhances the environment and economic strength of the region.