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- 3.B I <br /> CPTYor PRESCOTT <br /> Evfy�e0/10 . o,, COUNCIL AGENDA MEMO <br /> MEETING DATE/TYPE: STUDY SESSION MEETING 1-22-19 <br /> DEPARTMENT: Finance <br /> AGENDA ITEM: Update of the Development Impact Fee Process. <br /> I Approved By: Michael Lamar, City Manager <br /> Item Summary <br /> This presentation is an update of the development impact fee process, which was <br /> started on August 28, 2018. The Infrastructure Improvement Plan (IIP) and the Land <br /> Use Assumption (LUA) with be presented in detail in preparation for the Public Hearing <br /> that will be held at the 3:00pm Council Meeting. <br /> Background <br /> On August 28, 2018, Council received a presentation from Raftelis, the City's <br /> consultant, regarding updating Development Impact Fees for Water Resources, Water <br /> System Impacts and Wastewater System Impacts. The study also includes review and <br /> recommendations for adoption of new Development Fees related to Streets, Police, Fire <br /> and Parks. <br /> Council adopted a Notice of Intention to set a Public Hearing for January 22, 2019, <br /> regarding the updated IIP and LUA at its November 13, 2018, meeting. Staff has been <br /> working with the consultant and the Mayor's Commission to refine the IIP and LUA. <br /> These changes will be discussed in detail in preparation for the Public Hearing on the <br /> IIP and LUA at the 3:00pm Council Meeting and the Council consideration of the final <br /> IIP and LUA at the February 26, 2019, Council Meeting. <br /> Financial Impact <br /> The IIP and LUA are the basis for determining the proposed Development Impact Fees <br /> which are critical in the funding of needed infrastructure. " <br /> Recommended Action: This is for presentation only. No action will be taken. <br /> I Packet Pg.5 <br />