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Commencing on July 1, 2011, and every five fiscal years thereafter in conjunction with the Annual Citywide Development Fee and Development Impact Requirements Report described in Section 409, above, the Director and the Controller shall jointly prepare and publish a comprehensive report on the status of compliance with this Article, compliance of any development fees in this Article with the California Mitigation Fee Act, Government Code section 66001 et seq., including making specific findings regarding any unexpended funds, the efficacy of existing development fees and development impact requirements in mitigating the impacts of development projects, and the economic impacts of existing development fees and development impact requirements on the financial feasibility of projects and housing affordability in particular, taking into account, to the extent possible, the feasibility of the fees in different areas of the City. In such report, the Director and Controller may recommend any changes in the formulae or requirements or enforcement of any area-specific or Citywide development fee or development impact requirement in this Code, prepare additional economic impact studies on such changes or recommend that additional nexus studies or financial feasibility analyses be done, to improve the efficacy of such fees or requirements in mitigating development impacts or to reduce any unintended deleterious economic or social effects associated with such fees or requirements. In making their joint report and recommendations, the Director and the Controller shall consult with the Directors of OEWD, MOH, the MTA, or other agency whose fees are affected and shall coordinate the report required by this Section with any other development fee evaluations and reports that this Article requires to be performed. The Director and the Controller shall present the Report to the Commission at a public hearing and to the Land Use & Economic Development Committee of the Board of Supervisors at a separate public hearing.
[TRANSIT IMPACT DEVELOPMENT FEE]