SPECIAL FUNDS
Fund 270: NORTH IRVINE TRANSPORTATION MITIGATION PROGRAM FUND This fund was established by City Council Ordinance No. 03-20, to adopt the North Irvine Transportation Mitigation (NITM) Program. The NITM Program provides funding for the coordinated and phased installation of required traffic and transportation improvements identified in the Comprehensive NITM Traffic Study in connection with land use entitlements for City Planning Areas 1, 5, 6, 8, 9, 30, 40, and 51. Developers are required to pay NITM fees for new development in these aforementioned planning areas. For FY 2023-24 and FY 2024-25 the NITM fees are appropriated for the following new and existing projects: $4.3 million for Jeffrey Road and Irvine Center Drive Intersection Improvements, $2.1 million for Jamboree Road and Irvine Boulevard Intersection Improvements, and $293,000 for Jeffrey Road and Barranca Parkway Intersection Improvements. An additional $200,000 is appropriated in FY 2023-24 and $100,000 in FY 2024-25 for preliminary and feasibility studies, environmental clearance, preliminary engineering, and cost estimate updates for citywide transportation improvements.
FY 2023-25 Adopted Budget
361
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