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Also, procedurally, the Reimbursement Policy requires organizations to budget the cost of impact <br />fee when developing housing development projects and include these fees in all grant and loan <br />applications. The UCC Living Centers, Inc. application for funding under the HUD 202 Housing <br />for the Elderly Program did not include the school impact fees as a construction related expense. <br />Therefore, a waiver would be required in the recently revised Impact Fee Reimbursement Policy <br />provision that reimbursement applicants must include the cost of impact fees in their federal grant <br />applications. <br />If the Board approves the request for reimbursement of impact fees, the Manager recommends that <br />the Board appropriate the $120,000 from undesignated fund balance in the School Capital Project <br />Fund. This amount would be repaid over time through the transfer from the General Fund to the <br />School Capital Project Fund of annual half cent sales tax revenue received in excess of the amount <br />budgeted. <br />RECOMMENDATION(S): <br />The Manager recommends approval of the impact fee reimbursement request from UCC Living <br />Centers, Inc. in the amount of $120,000, with funding to come from undesignated fund balance in <br />the School Capital Reserve Fund. <br />