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Letter to Chandler Martin , ,San Joaquin County Community Development Dept, December 27, 1994 Page 2 6. The maximum AB2926 developer fees are $1.72 per square foot for K-12 facilities. The District and the Galt Joint Union Elementary School District share these fees. These fees offset approximately 25% of the impact of new development. 7. The State School Construction Bond Program, which provides construction funds to qualifying school districts is effectively bankrupt. In excess of$6 billion dollars in applications for new facilities are pending funding and no moneys are available. Moreover, the State has indicated its intention to shift the responsibility for capital funding back to the local level. No other capital revenue sources are available to finance new school facilities 8. Therefore, the District will be adversely impacted by the approval of this Project unless adequate mitigation is provided by the developer. Out of necessity, the District request that this Project not be approved unless the applicant has entered into an agreement with the District to mitigate the impact on school facilities, or approval of the Project is conditioned on full mitigation prior to the issuance of any building permits.` Evidence of mitigation would be provided by an agreement signed by the developer and the Superintendents of the Galt Joint Union Elementary School District and the Galt Joint Union High School District. Thank you for referring this project to the District and for your attention to this important matter. As always, if you require additional information, or have questions, please do not hesitate to call. Sincerely, Steven J. Rudy CHIEF BUSINESS OFFICIAL SR/ds cc: Giannina Santangelo 145 N LINCOLN WAY • GALT • CA • 95632 • PHONE 2091745-3061 • FAX# 2091745/0881 THIS DISTRICT IS AN EQUAL OPPORTUNITY EMPLOYER AND COMPLIES WITH TITLE IX