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(a) There is hereby established a separate fund set aside for a special purpose entitled the Visitation Valley Community Facilities and Infrastructure Fund ("Fund"). All monies collected by DBI pursuant to Section 420.3(b) shall be deposited in the Fund which shall be maintained by the Controller. The receipts in the Fund shall be appropriated in accordance with law through the normal budgetary process to fund public infrastructure and other allowable improvements subject to the conditions of this Section.
(b) All monies deposited in the Fund shall be used solely to design, engineer, acquire, develop, and improve neighborhood recreation and open spaces, pedestrian and streetscape improvements, childcare facilities, bicycle infrastructure and other improvements that result in new publicly accessible facilities and related resources within the Visitacion Valley or within 250 feet of the Visitacion Valley Fee Area. The Fund shall be allocated in accordance with Table 420.6A.
Dollars Received From Residential Development
Dollars Received From Non-Residential Development
Complete Streets: Pedestrian and Streetscape Improvements, Bicycle Infrastructure
Recreation and Open Space
(c) Program Administration. No portion of the Fund may be used, by way of loan or otherwise, to pay any administrative, general overhead, or similar expense of any public entity, except for the administration of this fund in an amount not to exceed 5% of the total annual revenue. Administration of this fund includes maintenance of the Fund, time and materials associated with processing and approving fee payments and expenditures from the Fund (including necessary hearings), reporting or informational requests related to the Fund, and coordination between public agencies regarding determining and evaluating appropriate expenditures of the Fund. Monies from the Fund may be used by the Planning Commission to commission economic analyses for the purpose of revising the fee under Section 418.3 above, to complete a nexus study to demonstrate or update the relationship between residential development and the need for public facilities, or to commission landscape, architectural or other planning, design and engineering services in support of the proposed public improvements. All interest earned on this account shall be credited to the Visitacion Valley Improvements Fund.
(d) Acquisition of New Open Space. A public hearing shall be held by the Recreation and Park Commission to elicit public comment on proposals for the acquisition of property using monies in the Fund or through agreements for financing In-Kind Community Improvements via a Mello-Roos Community Facilities District that will ultimately be maintained by the Department of Recreation and Parks. Notice of public hearings shall be published in an official newspaper at least 20 days prior to the date of the hearing, which notice shall set forth the time, place, and purpose of the hearing. The Parks Commissions may vote to recommend to the Board of Supervisors that it appropriate money from the Fund for acquisition of property for park use and for development of property acquired for park use.
(e) The Planning Commission shall work with other City agencies and commissions, specifically the Department of Recreation and Parks, DPW, and the San Francisco Municipal Transportation Agency, to develop agreements related to the administration of the improvements to existing and development of new public facilities within public rights-of-way or on any acquired property designed for park use. The proposed expenditure plan shall be subject to approval by the Board of Supervisors.
(f) The Director of Planning shall have the authority to prescribe rules and regulations governing the Fund, which are consistent with this Section 420.1et seq. The Director of Planning, as the head of the Interagency Plan Implementation Committee (IPIC), shall make recommendations to the Board regarding allocation of funds.
[MARKET AND OCTAVIA COMMUNITY IMPROVEMENTS FUND]