SPECIAL FUNDS
Fund 024: BUILDING AND SAFETY FUND The Building and Safety Fund accounts for the development processing activities of plan check, inspection and permit issuance. User fees are charged for development processing activities to recoup the cost of providing these services. The rate structure reflects new fees as recommended by the most recent cost of services study. FY 2020-21 includes an initial expenditure of $1.0 million toward an estimated $6.0 million purchase of a new permitting system. Structured as a no-interest loan from the Asset Management Plan Fund, the amount will be paid back over ten years from fees earmarked from the automation account. During the past year, development activities in the City have continued to remain strong with multiple new office, hotel, retail, warehouse/storage, and residential projects. Construction valuation totaled almost $2 billion for permits issued in calendar year 2018, consistent with the previous year. This level of development activity is expected to continue in FY 2019-20 with a slight decrease in new residential but an increase in commercial tenant improvement, reinvestment in apartment, and office properties and residential remodel/addition. New residential development will continue across a broad area of the City including Portola Springs, Great Park Neighborhoods, Orchard Hills, Los Olivos II, and the Irvine Business Complex (IBC). Non-residential development activities are expected to continue in the IBC with an expansion at the Edwards Life Science campus, as well as ongoing campus style office development along the Sand Canyon corridor. Non-residential tenant improvements will continue to be strong throughout the City in both newly constructed buildings as well as existing building inventory including new child care facilities at Portola Hills and Cypress Village.
FY 2019-21 Proposed Budget
313
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