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Locally, the District encompasses a community that has, for all intents and purposes, reached <br />build out of large tracts of homes, thus fees from residential developers (Quimby Fees) cannot be <br />counted on for future park development. Consequently, resources for future capital maintenance, <br />replacement and new park and facility development must be either made available from resources <br />currently available for operating expenses, or additional revenue sources must be identified. <br />However, stronger state laws and policies may increase housing in the coming years. New state <br />laws and policies are encouraging, and in some cases, forcing cities to increase housing. Should <br />this result in more housing in Thousand Oaks (perhaps along the Thousand Oaks Boulevard <br />corridor), there could be additional Quimby Fees associated with new multi -family housing <br />construction in that area. It may also be worth noting that Quimby Fees for small residential <br />additions (aka "accessory dwelling units" or "granny flats") have been eliminated by state law if <br />the new addition is under 750 square feet. <br />This financial report is designed to provide a general overview of District finances for all those <br />with an interest in the government's finances. Questions concerning any of the information <br />provided in this report or requests for additional financial information can be addressed to the <br />Management Services Administrator, Conejo Recreation and Park District, 403 W. Hillcrest Dr., <br />Thousand Oaks, California, 91360, 805-495-6471, or via email at parks@crpd.org <br />13 <br />