HomeMy WebLinkAbout2016-11-29; Agricultural Conversion Mitigation Fee Committee Ad Hoc; ; Report on Available Fund Balance
AGRICULTURAL CONVERSION MITIGATION FEE (ACMF)
AD HOC CITIZENS ADVISORY COMMITTEE
Staff Contact:
Pam Drew, Associate Planner, Community & Economic Development
760-602-4644 pam.drew@carlsbadca.gov
Agenda Item: #6
Subject: Report on Available Fund Balance
Meeting Date: November 29, 2016
As of October 31, 2016, the cash within the ACMF account is $840,468. Although $1,281,196.28 million
exists within the ACMF account, $440,728.00 is appropriated and available for disbursement to grantees
of previously awarded projects. The City of Carlsbad, however, is accruing interest income on the total
balance within the ACMF account. Interest income deposited into the account from January through
October 2016 totaled $12,000.
Exhibit:
6.1 Deposit History as of July 31, 2016
Deposit History of LCP Ag Mitigation Fees (as of 7/31/16)
Fund 171 (Use 1713210 for expenditures)
06/29/1998 Carlsbad Ranch 268,750
05/17/1999 Shea Homes 87,465
05/25/1999 Standard Pacific 194,150
06/04/1999 Return of fees held by CA Coastal Conservatory 2,890,462 see note below
06/21/1999 Bridge Housing Corp 24,500
08/04/1999 Shea Homes 91,355
09/28/1999 Fieldstone Communities 102,850
10/06/1999 Kelly Ranch Corp 84,370
02/04/2000 WL Homes LLC 263,780
09/25/2001 Standard Pacific 42,592
05/31/2002 CMWD (Recycled Water Facility)102,420
08/20/2002 Canterina 36,605
10/22/2002 Aviara Pointe 31,809
03/14/2003 Standard Pacific (Thompson/Tabata)454,892
06/30/2003 De Jong Ag Fee 98,327
07/02/2003 William and Candace Lynn (CDP01-07)8,484
04/26/2004 City of Carlsbad (Recycled Twin D cap proj #38891)38,975
12/15/2004 Gemological Institute of America (CDP04044)30,206
03/24/2005 Redeemer by the Sea (CT 00-22)52,325
04/07/2005 Mayfair Homes (Black Rail Ridge CT 03-13)27,381
03/02/2006 Yamamoto (FM040001)48,600
01/17/2007 Blackrail (FM030006)38,100
06/25/2007 Poinsettia (FM040011)52,900
01/04/2011 Hilton Carlsbad (CDP05043)12,400
11/14/2011 Muroya (FM060027)79,000
01/23/2015 Daybreak Community Church (SDP0006C)22,600
Total deposits collected 5,185,299
Interest Earned on Fund 171 since inception 2,835,356
Expenditures on Fund 171 since inception
Fiscal year 2005/06 (2,316)
Fiscal year 2006/07 (3,216)
Fiscal year 2007/08 (1,310,995)
Fiscal year 2008/09 (224,459)
Fiscal year 2009/10 (689,111)
Fiscal year 2010/11 (47,000)
Fiscal year 2011/12 (600,623)
Fiscal year 2012/13 (1,958,847)
Fiscal year 2013/14 (831,820)
Fiscal year 2014/15 (808,332)
Fiscal year 2015/16 (316,627)
Fiscal year 2016/17 0
Total Expenditures (6,793,346)
Total cash available in Fund 171 1,227,308 as of 7/31/16
We received $2,890,462 from the CA Coastal Conservatory on 6/4/99.
This amount was the balance of the City's LCP account held by the
Conservatory.