HomeMy WebLinkAbout2024 Impact Fee Report
RCW 82.02.070 requires that each local government imposing impact fees shall provide a report on
each impact fee account showing the source and amount of all moneys collected, earned, or
received and system improvements that were financed in whole or in part by impact fees. This
report is being provided in response to this requirement.
Impact fee collections spiked in 2022 due to the Solera project. Collections in 2023 were
significantly lower and were primarily related to the University of Washington Medical Testing Lab,
Sounders FC Center, and Elliot Farms (various buildings) projects. Collections in 2024 were
moderately higher than the prior year primarily driven by the LivAway Suites, Maple Highlands, and
Hazen High School Portables projects.
Transportation Impact Fees (TIF)
During 2024, the city collected $1,284,081 in Transportation Impact Fees, which is a 55% increase
from 2023, which had a collection of $828,414. Remaining fund balance at the end of 2024 was
$3,613,321. The chart below shows the TIF revenue collections from 2019-2024, excluding interest
earned.
Transportation Projects
Rainier Ave S/N Ph 4 - S 3rd Street to NW 3rd Place
Phase 4 of the Rainier Ave Corridor Improvements extends previous corridor improvements from S
3rd St to 1,000 feet north of Airport Way (NW 3rd Pl). Project elements include extending a
southbound business access and transit (BAT) lane from S 2nd St to S 3rd St, pedestrian
improvements with streetscaping, pedestrian actuated traffic signal (HAWK), transit facility
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
$8,000,000
$9,000,000
2019 2020 2021 2022 2023 2024
CITY OF RENTON Impact Fee Annual Report
FY 2024
upgrades, access management, and a segment of a regional pedestrian/bike path trail (Lake
Washington Loop Trail). In 2024, the city spent $15,730,651 on this project, of which $64,975 or less
than 1% were impact fees.
Park Ave Extension
This project extends Park Ave N to the north of Logan Ave N, to provide access to Southport and
The Boeing Company. Improvements include the construction of a railroad crossing, signal
improvements, utility improvements, illumination installation, underground utility relocation, and
landscaping. In 2024, the city spent $1,447,667 on this project, which was 100% impact fees.
Park Impact Fees (PIF)
During 2024, the city collected $173,883 in Park Impact Fees, which is a 15.6% increase from 2023,
which had a collection of $120,419. Remaining fund balance at the end of 2024 was $359,743. The
chart below shows the PIF revenue collections from 2019-2024, excluding interest earned.
Park Projects
Talbot Hill Reservoir Park Site Improvements:
This park renovation project includes sports court surfacing and amenity additions, ADA access
improvements, parking lot repair and resealing, and new site furnishings include a shade structure,
bike rack, and drinking fountain. In 2024, the city spent $103,101 on this project, 100% of which was
funded by impact fees. In 2024 the project had a total budget of $998,145, of which $125,000 or
13% was impact fees.
Cleveland-Richardson Park Master Plan:
This project involves planning a new 24-acre park in the Talbot neighborhood of Southwest Renton.
The master plan will assess current conditions, propose improvements for public recreation, evaluate
the feasibility of a Ranger/caretaker facility, and provide strategies to protect and enhance natural
areas, ultimately providing a clear vision for the park's development. In 2024, the city spent $44,696
on this project, 100% of which was funded by impact fees. In 2024 the project had a total budget of
$200,000, entirely funded by impact fees. However, future phases of the project will utilize
additional funding sources.
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
2019 2020 2021 2022 2023 2024
Northeast Renton Park Master Plan:
This project involved developing a park master plan for a new 18.5-acre neighborhood park in
Renton’s East Plateau Planning Area. The master plan provides a vision, framework, and strategy for
developing park programming to meet community needs while balancing conservation and
enhancement of adjacent natural areas. Programming includes a play area, trails, a picnic shelters,
ample seating, open lawn areas, a comfort station, and, following additional property acquisitions, an
off-leash area and sports court. In 2024, the city spent $142,051 on this project, 100% of which was
funded by impact fees. In 2024 the project had a total budget of $200,000, entirely funded by
impact fees. However, future phases of the project will utilize additional funding sources.
Fire Impact Fees (FIF)
During 2024, the city collected $98,123 in Fire Impact Fees which is a 59% increase from 2023 which
had a collection of $40,260. The chart below shows the FIF revenue collections from 2019-2024,
excluding interest earned.
Impact fees collected are subsequently transferred to Renton Regional Fire Authority for use on
qualifying capital projects. The following annual report presents the system improvements, if any,
funded by fire impact fees.
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
2019 2020 2021 2022 2023 2024
School Impact Fees (SIF)
During 2024, the city collected $318,317 in School Impact Fees which is a 72% increase from 2023
which had a collection of $185,062. The chart below shows the SIF revenue collections from 2019-
2024, excluding interest earned.
Impact fees collected are subsequently transferred to Kent, Issaquah, and Renton School District for
use on qualifying capital projects. The following annual reports provided by the districts present the
system improvements, if any, funded by school impact fees.
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
2019 2020 2021 2022 2023 2024
ILentonSCHOOLDISTRICT
SERVICE I EXCELLENCE IEQUITY BUSINESS SERVICES
February 03,2025
City of Renton
Attn:Gina Estep,Economic Development Department
1055 S Grady Way
Renton,Wa 98057
RE:Annual Report of Impact Fee Expenditures -2024
Dear Ms.Estep,
Enclosed is the 2024 Annual Report of the City of Renton Impact Fee Expenditures for the Renton School
District.l herebyreportthattheRenton School Districtexpended atotal of $1,531,385 forthecalendar
year 2024.
The funds were used for The Hazen Portable Project 2096 in alignment with the District’s 2024 Capital
Facilities Plan.
If any questions,please feel free to contact me at (425)204-2394.
With regards,
Jason E.Franklin,CPA
Executive Director,Business Services
Email:Jason.franklin@tentonschools.us
300 SW 7”Street,Washington 98057 Ip.425.204.2300
www.rentonschools.us
RENTON SCHOOL DISTRICT -CITY OF RENTON -IMPACT FEE REPORT
2024
BEGINNING BALANCE
Add:Revenues
Fees Collected
Interest Fr City:
Interest Fr County:
Subtotal Revenues
Less:Expenditures
$4,454,494
$(1,531,385)
NET ENDING BALANCE
Year Ended 2024 Revenue Details
Date Interest
$3,186,401
County mt Total Impact Fee Rev Expire Date
5
$
$
$
S -
$(1,531,385)
$80,931
$
S 182,361
$263,292
01/09/24
02/09/24
03109124
04/09/24
05/09/24
06/09/24
07/09/24
08/09/24
09/09/24
10/09/24
11/09/24
12/09/24
BatchlCheck #Total Amount
Check #413547
Check #413876
Check #410478
Check #415308
Check #415682
Check #416552
Check #417295
Check #41 8690
Check #418690
Check #420106
Check #420784
$
$17,572 $-$14,70580 $32,278
$5,873 $-$14,997.06 $20,870
5 5,932 $-$14,673.10 $20,605
$2,229 $-$15,634.52 $17,864
5 8,645 $-$15,659.09 $24.304
S 19,485 $-$16,697.40 $36.183
$2,161 $-$16,458.71 $18,620
5 -$17,334.43 S 17,334
$6,653 $-$17,039.81 S 23,693
5 5,897 5 -$15,974.36 $21,871
5 2,161 $-$11,734.00 $13,895
$4,322 $-$11,453.05 S 15,775
S -$-s -$-
$-s -$-$-
s -s -s -$-
Year Ended 2024 Expenditure Detail
Project
GRAND TOTAL IMPACT FEE RECEIPTS $80,931 $-$263,292
Exp Type
$182.361
Vendor Date Warrant#Amount Comments
2096 Hazen Portables 9/25/24 $(1,494,815)
2096 Hazen Portables 10/25/24 $(26,430)
2096 Hazen Portables 10/28/24 $(10,140)
TOTAL 2024 ALLOCATED IMPACT FEE EXPENDITURES