HomeMy WebLinkAbout2017-10-26; Agricultural Conversion Mitigation Fee Committee Ad Hoc; ; Report on Available Fund BalanceAGRICULTURAL 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: #8
Subject: Report on Available Fund Balance
Meeting Date: October 26, 2017
As of September 30, 2017 $1,154,574 in cash exists within the ACMF account. Of previously awarded
projects, $400,598 (less administrative fees of $2,946) is appropriated and awaiting disbursement to
grantees and $605,594 has been awarded but not appropriated. The available cash for new projects
within the ACMF account is $148,382. 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
September 2017 totaled $11,100.
Exhibit:
8.1 Deposit History as of September 30, 2017
History of LCP Ag Mitigation Fees (as of9/30/17)
Fund 171 (Use 1713210 for expenditures)
Developer Contributions
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 Conservancy 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
09/15/2016 Seascape (FM050018)50,500
Total deposits collected 5,235,799
Interest Earned to Date 2,852,252
Expenditures to Date
Administrative/Meeting (9,660)
Community Contributions/Grants (6,923,816)
Total Expenditures (6,933,476)
Total cash available in Fund 171 1,154,574 as of 9/30/17
The city received $2,890,462 from the CA Coastal Conservancy on 6/4/99. This amount was the balance of the City's LCP account held by the Conservancy.
Exhibit 8.1