Sec. 655.304. - Deposit of fair share assessments; appropriation of funds.

(a) Funds received pursuant to fair share assessment contracts shall be deposited into the Fair Share Sector Areas Transportation Improvements Special Revenue Fund established pursuant to Section 111.530 , the Fair Share Specific Projects Special Revenue Fund established pursuant to Section 111.535 , or other Special Revenue Funds or accounts. The funds deposited into the Fair Share Sector Areas Transportation Improvement Special Revenue Fund shall be assigned to the appropriate account for the affected sector. When the proposed development lies in or affects more than one sector, the Director and the Director of Public Works shall, in their sole discretion, determine whether to deposit the funds in the account of one sector or to allocate the funds between or among the accounts for the other affected sectors. The funds deposited into the Fair Share Specific Projects Special Revenue Fund established pursuant to Section 111.535 , or other Special Revenue Funds created by the City, shall be assigned as described therein. (b) Appropriated expenditures from the Fair Share Sector Areas Transportation Improvement Special Revenue Fund, from any other Special Revenue Funds, or from any other accounts shall be made when there are sufficient funds which, either alone or in conjunction with other funding sources, equal the amount necessary to commence engineering, acquisition of necessary right-of-way or easements or construction of the specific transportation project(s) determined by the Director and the Director of Public Works to be adequate to serve the proposed developments. The Director shall cause the necessary amendments to the CIP and funding appropriation to be prepared and submitted to the Council for approval. (c) On or before January 31 and June 30 of each year, the Director shall deliver to the Finance and Transportation, Energy and Utilities Standing Committees of Council, and to the Council Auditors, a report setting forth the current balances (encumbered, appropriated but unencumbered, unappropriated and reserved) for each Fair Share Sector Area Transportation Improvement Special Revenue Fund and each Fair Share Specific Project Special Revenue Fund. (Ord. 2011-536-E, § 1; Ord. 2015-425-E , § 1)