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HomeMy WebLinkAbout2008-09-02; Agricultural Conversion Mitigation Fee Committee Ad Hoc; ; Report to Committee on Available Funding and Potential Grant SolicitationsSubject: Meeting Date: September 2, 2008 Agenda Item #7 CITY OF CARLSBAD AGRICULTURAL CONVERSION MITIGATION FEE AD HOC CITIZENS' ADVISORY COMMITTEE Report to Committee on Available Funding and Potential Grant Solicitations September 2, 2008 Available Funding and Fund Augmentation (Revisited): As previously reported, the estimated unencumbered/available fund balance within the Agricultural Conversion Mitigation Fee account as of August 18, 2008 is estimated at $701,936. It is additionally recognized that conversion of remainder coastal agricultural lands to urban (non-agricultural) uses has potential to generate an additional $1 -1.5 million for inclusion in the fund balance. Staff estimates that the unencumbered monies within the Agricultural Conversion Mitigation Fee fund may have potential to increase to approximately $1.7 -$2.2 million (excluding added interest income) before implementation of the Agricultural Conversion Mitigation Fee program is exhausted. Pursuit of Grant Solicitation: Should the Committee desire to pursue solicitation of grant proposals to encumber the remaining $701,935.59 (or any portion thereof), by recommending Council approval of grant appropriations at this time, staff is available as a support resource to assist in the administration of the grant solicitation and review process. Due to the difference in fund balance currently available compared to funds available for recommendation of grant approval during the Committee's original grant solicitation process in September 2006 ($6 million), the Committee may additionally desire to revisit procedural concepts such as proposal solicitation strategy and proposal consideration/evaluation criteria. However, if the Committee desires to change the criteria or strategy, such changes may require Council approval, which would likely and significantly delay any solicitation and review of proposals by the Committee. Fund Reservation for Future Use: If, however, the Committee desires not to solicit grant applications at this time, it is likely that the fund balance will grow due to interest income and potential charge of mitigation fees on land converting to urban uses, which may provide the committee with opportunity to recommend approval of larger and/or more grant allocations at a future date. Staff additionally notes that if the Committee desires not to proceed with grant proposal solicitation at this time, the Committee does maintain opportunity to revisit the issue at a later date. If the Committee chooses to delay soliciting proposals at this time, the Committee should note the following two items. First, according to the Committee's chartering resolution adopted by City Council, life of the Committee was limited to a four year term, which is scheduled to terminate on August 2, 2009. Pursuant to Resolution 2005-242, the Committee, "shall cease to exist unless on or before that expiration date the City Council acts by further resolution to renew its term in either the same or an amended state." Second, the chartering Resolution requires the Committee to meet twice each year. Accordingly the Committee should plan to meet again during its fourth year, which is scheduled to conclude on August 2, 2009. Respectfully Submitted PLANNING DEPARTMENT