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75 Not every new home will incur a park dedication fee, as that fee is only collected on plats 76 larger than one acre and when land cannot otherwise be dedicated. 77 The engineering and development phasefees were split up evenly across the four lots (for 78 example, the Open House fee is $1,100 in total, so $1,100 / 4 = $275 per lot). 79 Public improvement costs were estimated based on the typical improvements that would be 80 implemented (for example, sidewalk, storm water pond, sewer & water utilities). For the 81 purposes of this example, staff used the costs expected for the four-lot single family 82 subdivision at the armory site on North McCarrons Boulevard. 83 This analysis represents the highest-cost scenario as a subdivision of less than an acre (and less 84 than four lots) wouldn’t trigger park dedication. On a scenario of greater than four lots,the 85 development phase and engineering fees generally get distributed over a greater number of 86 lots, reducing the overall cost per home. 87 There are several escrows or deposits that are collected for every new home. These were not 88 calculated into the 3.6% as that money is returned, assuming performance. These monies are 89 held as security to ensure the developer/builder performs to City standards. 90 There are fees that are collected at the City, but passed through to other agencies. These costs 91 are also not included in the 3.6%. 92 Land costs, coupled with labor and materials costs for new construction make it nearly impossible to 93 build a new, “affordably-priced” home in Roseville. The $375,000-valued home example represents 94 what Roseville has typically seen under new single family home construction. However, this doesn’t 95 mean there aren’t affordably-pricedhomes in Roseville. For new construction, most affordable units 96 are multi-family and are being attained usingpublic finance tools to cover gaps and ensure 97 affordability. Lastly, new construction can also provide for move-up housing, freeing up existing, 98 older single family homes that are more affordable to first-time homebuyers. 99 100 Community Development Fund 101 In an effort to provide a full picture, staff examined Community Development revenues and expenses 102 going back to 1999, and compared that to the balance history in the Community Development Fund. 103 As Council is aware, Roseville keeps all building permit revenue in the Community Development 104 Fund, ensuring revenues collected solely fund Community Development operations. This isn’t 105 necessarily the standard across all cities, and certainly not the cities that were scrutinized in the 106 Housing Affordability Institute study. Staff provided graphs depicting years 1999-2009 and 2009- 107 2019. Staff would offer the following information in regards to these graphs: 108 Between years 1999-2009, expenses grew 30% and revenues grew 13%. 109 Between years 2009-2019, expenses grew 47% and revenues grew by 70%. 110 Between 1999-2019, expenses grew 91% and revenues grew by 93%. 111 In years when revenues out-grow expenses, that excess revenue is placed in the Community 112 Development Fund. 113 In years when expenses exceed revenues, the shortfall can be accounted for with Community 114 Development reserve funds and not general fund levy dollars. Page 3 of 4