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Home My WebLink About1991-11-19; City Council; 11454; 1991-92 TO BUILDOUT CAPITAL IMPROVEMENT PROGRAMAB# f( ' L /. 4'e MTG. 11/19/91 1991-92 TO BUILDOUT TITLE: DEPT. FIN CAPITAL IMPROVEMENT PROGRAM DEP1 CITY CITY 5 2 F 0 z .. 2 0 E =rt 0 z 3 0 0 a standards. The slow economy resulted in efforts to meet the standards in a n way. The 1991-92 to buildout CIP includes two street and two park proje which will be completed in phases. These actions maintain a balanced fis position while continuing to meet the standards of a growing citizenry. 1 weak economy and the slow development rates Carlsbad is experiencing causes for concern, as these occurrences have a direct impact on the rever figures. Revenues for 1991-92 to buildout have been projected using the Grot Management Plan phasing schedule which is optimistic. Should growth conti1 at its depressed rate, the scheduling of projects will need to be altered. The CIP presented to Council is intended to be a working document which ( be modified or adjusted as Council sees fit. The final CIP will be brought b to City Council in two to three weeks for a public hearing and adoption. m e YTli * Page Two of Agenda Bill No. ll, EPf FISCAL, IMPACT: The fiscal impact of the CIP is very broad and pervasive as all projects a scheduled concurrent with available revenues or debt financing. The funding fc the majority of projects depends on development revenue and if growth does n occur as projected, the City may defer projects. EXHIBITS: 1. Capital Improvement Program Summary e 0 1 VI L 1991-92 Capital Improvement Program Introduction The Capital Improvement Program for 1991-92 totals $50.1 million, which is ne: identical to the 1990-91 adopted budget of $51.5 million. This represents a decreasc $.4 million or 1.6%. Projected revenues for the 91-92 program total $46.3 million and up by $3.2 million or 7.4% over the 1990-91 budget. Although total revenues for 1991 are up, weak economic conditions nationally and locally as well as dramatically declin construction levels have resulted in reduced development related revenues. Reven collected as the result of new residential and commercial/industrial development occur down by $5.9 million or 92.2%. This has resulted in modifications to the schedulinj projects. This report and the accompanying CIP documents reflect the actions taker address the issue of funding availability weighed against the demand for facilities, , growth. As the City continues to monitor growth in conjunction with revenues, it has becc apparent that there is a correlation between the amount of funds that can be spent projects, and the amount of growth. If development subsides, so too do revenues, wl in turn impacts expenditures schedules. Most expenditure schedules were established u: the Growth Management standards as guidelines. Interwoven into this formula are fi: constraints which are becoming more important. This year, lack of available funds forced some projects to be recommended for phasing, and reflects a change in philosol Previously, the City chose to build facilities to meet maximum population expectatic Now, the philosophy is shifting to one where phasing of projects will more closely m: the incremental growth demands. Further, in cases where facility availability fails to n growth management standards, developers may be required to finance design construction costs. As growth revenues decline, the expenditures too must be altc accordingly. The Growth Management system used by the City needs to be viewed P flexibility, as well as in concurrence with other external issues, including the gen economy. Several other steps were taken in formulating the 1991-92 CIP. First, cost estimates all projects were reviewed by the Engineering Department resulting in significantly hi$ budget figures for park projects. The new cost estimate for park development is $135, per acre, up from $115,000 per acre. Second, in August, 1991, the Planning Cornmis: reviewed all projects new to the 1991-92 CIP for General Plan consistency. All proj were found to comply with the General Plan. Third, the 1991-92 CIP now included Community Facilities District projects and revenues. Although the projects themselves not new, the funding sources have been modified to reflect the use of the CFD. The projects which will utilize CFD funds are the Library and the 1-5 Interchanges. Fou Traffic Impact Fee projects have been revised to reflect the projects identified in the st presented to Council in October, 1991. Fifth, Sewer projects have also been revise( reflect the projects contained in the recently adopted Sewer Master Plan. accurately shows Carlsbad's share of the Encina Wastewater Facility's capital prog budget. The 1 @ 0 It,’ The fiscal resources, and the assumptions used in projecting those resources, as well specific expenditures will be addressed separately. Also addressed will be issues facing t CIP in general. Revenue Revenues for Capital Projects may be broken down into three major categories as folloi 1) fees generated by development in Carlsbad, 2) the Community Facilities District and other sources including grants, bond issues, and letters of credit. The pie chart bell provides an overview of the estimated revenues which are projected to support the ( projects. Approximately 38% of all CIP revenues are received as a result of developmc and are dependent upon assumptions made about the City‘s growth in dwelling units i commercialhdustrial square feet each year. These revenues include the Public Facili Fee (PFF), Traffic Impact Fee (TIF), Park-In-Lieu (PIL), and Sewer Construction reveni Community Facilities District revenues occupy 43% of the total and are based on schedi included in the Engineering Report. The remaining 19% of revenues are related to receipt of grants, the county sales tax program (Transnet), the issuance of bonds, and 1 Water District‘s Capital Surcharge. FUNDING SOURCES CAPITAL IMPROVEMENT PROGRAM 1991-92 TO BUILDOUT SEWER OTHER $4e 5 9% TRAFFIC IMPACT $24 5 4% WAJOR FACILITY FEf!34 * ‘x PUBLIC FACILI~Y FEE $71 5 13% $49 7 9% CAPITAL SURCHARGE $35 1 6% PARK IN-LIEU $188 3% TRANS NET $41 7% CMNT Y FACIL CISTR $245 7 43% Total Rovonuos = S569 Mllllon Several assumptions about the rate and type of growth were made in order to project t revenues which rely upon development. Growth assumptions were compiled using projections used in the Growth Management Program, which continue to change a with the economic climate. For example, this year residential and non-residential gr( rates have been reduced from earlier projections to reflect the volumes of grc anticipated in a weak economy. The table on the following page compares the numb residential units used for projecting for the 1991-92 CIP revenues with the number of. used in the 1990-91 CIP. As can be seen, the number of residential units projectel 1991-92 has been decreased by 373, while in 1992-93 a decrease of 180 is shown. 2 Year 91 -92 92-93 93 - 94 94-95 95-96 Years 5 - 10 Years - 2001 + 90-91 Total 91 -92 Total No. Units No. Units Diff. 90-91 Total Sq.Ft. Resid Resid to 91 -92 Cornrn/lnd 899 526 (373) l,o0O,Ooo 1488 1,308 (180) 1,o0O,ooo 1408 1,356 (52) l,OOO,OOO 1371 1,350 (21) l,o0O,Ooo N/A 1,248 1 ,ooo,ooo 1,376 1,246 (130) 1,ooo,ooo 995 1,088 93 1,o0O,ooo I ’> P 0 Non-residential growth pattern and projections were also reviewed, and modified. current assumption is that there will be approximately 1 million square feet of r residential building space added each year until buildout. This assumption is based u recent history showing that approximately 1 million square feet of commercial/indus* has been added per year. There is some uncertainty as to the likelihood that the levels of growth projected will 01 Staff has recognized that the economy is languishing and has reduced the growth estim over what has been previously projected. Should the economy continue its decline impact growth as it has, the assumptions outlined here may still be too optimistic. W using the Growth Management forecast identified above adequate revenues are projec However, dramatic changes in project scheduling will need to occur if development ( not soon recover from its slump. The line chart below demonstrates the effect of redl development on the PFF, a growth related revenue. As can be seen, lower level residential and commercial/industrial square foot development results in dramatic reduced revenues. PFF ENDING BALANCE Growth Management vs. Economy Millions 5 4- Variablo proj.ctlonr not mad. for thio tima poriod. < 1 0 91 -92 92-93 93-94 94-95 95-96 Fiscal Year + Growth Management * Estimate #1 + Estimate #2 The mix of attached and detached residential units is assumed to be 55% and 1 respectively. This is the same ratio as has been applied in the past and continues to bc anticipated mix of residential development. The building permit valuation used computing public facilities fees was $89,500 per attached dwelling unit, and $153,00C detached dwelling unit. The mix of commercial and industrial is assumed to be 40% 60% respectively. The commercial category also includes office development. In order to calculate estimated revenues for the Traffic Impact Fee (TIF), the numbc average daily trips had to be computed for each type of use. An attached dwelling 4 e 0 a ‘J was assigned eight trips per day, and a detached unit ten trips per day, based on data u: in developing the TIF. Each residential trip was valued at $77.00. The trips-per-day va: for commercial/industrial was averaged at 17 trips per 1,000 square feet of developme The volume of trips generated by commercial/industrial development can vary wid depending on the ultimate land use. The value of each commercialhdustrial trip Y established at $63.00. Sewer fees were calculated by assessing each residential unit (EDU) $1,675. CoGerc was assessed $1,675 for each 1,800 square feet of development and industrial was asses: $1,675 for each 3,400 square feet based on the City‘s procedure for calculating EDU’s non-residential uses. Park in Lieu revenue projections have increased by 45% throughout the life of the C This is the result of applying the new fees which were implemented in May, 1991. This is the first year that the Community Facilities District (CFD) funding mechanism been incorporated into the CIP. The implementation of the CFD has reduced the tc amount of PFF, and TIF, and BTD revenues projected, as projects which were previoi funded from these sources will now be funded through the CFD. Revenues for the P and TIF have been reduced accordingly, and the fund balance for the BTD has b transferred to the CFD. 5 0 0 # I, Expenditures The 1991-92 to buildout CIP outlines a total of 185 projects at a total cost of $411 million. The pie chart below indicates that the largest segment of expenditures are wit1 the Parks category at $94.2 million or 23%. quadrants of Carlsbad as well as Veteran’s Memorial Park. Other major park proje include the Golf Course, Larwin Park, Alta Mira Park, Alga Norte Park, and a commun park in Zone 19. Park project expenditures are followed in dollar value by Water proje which total $83.7 naillion, and include new and replacement pipelines and reserv maintenance. Major street projects in the CIP are the widening of the railroad overpasi at Poinsettia Boulevard, and Palomar Airport Road, La Costa Boulevard widening, and 1 extension of Faraday Boulevard. The smallest expenditure category for projects is Tral Signals, at $3.3 million or 1%. Specific timing and cost estimates for projects are identif in the table immediately following. Included are park projects within CAPITAL IMPROVEMENT PROGRAM PROJECT ALLOCATION 1991-92 TO BUILDOUT PARKS $952 23% TRAFFIC SIGNALS c IVI c 607 15% 1-5 INTERCHANGES $345 8% STREET PROJECTS $78 9 19% $83 7 20% Total CIP to Bulldout = $414.7 Million Specific phasing of projects is reliant upon fund availability as well as efforts taken to r established growth management standards for facilities. Wherever recommended prc scheduling changes occurred, they were based upon a thorough review of the Gro Management Plan, in unison with revenue projections. In order to balance the first years of the CIP in conjunction with the decline in projected revenues, selected park street projects have been phased and deferred. All of these altered projects are fundel the PFF, which is now balanced as a result of the timing changes. The altered projects related issues are identified on the following page. 6 0 0 ‘I 1991 -92 Proiects The 1991-92 CIP identifies 44 projects which have been budgeted at a total cost of $5 million. The chart below shows that Park projects occupy one third of the total 1991 expenditures at $16.9 million. Twenty five percent or $12.3 million of the budge allocated to Civic projects. Sewer projects account for the least amount of expenditu at $1.5 million or 3Yo. Following is a detailed explanation of the significant 1991-92 I projects by category. CAPITAL IMPROVEMENT PROGRAM 1991-92 PROJECTS BY MAJOR CATEGORY CIVIC 1-5 INTERCHANGES $34 7% STREET PROJECTS WATER $62 12% $98 20% Total 91-92 CIP = $50.1 Mlllion Civic Projects The significant projects scheduled for 1991 -92 appropriation include the expendi of CFD funds toward the South Carlsbad Library at $11.2 million. Design func $136,000 for the Cole Library Remodel are also budgeted in 1991-92. Park Proiects The construction of the Golf Course is identified for 1991-92 to be funded Wi $14 million bond issue. The repayment of the debt is considered an operz expense, and does not appear within the CIP. It should be noted that the Ger Fund contribution to the Golf Course is limited to between $700,000 and $800 annually. Additional debt service expenses will need to be met through the Course Enterprise Fund, and the appropriate setting of user fees. Larwin Pa $2.5 million is the one City park scheduled for a 1991-92 appropriation. Ir design plans for this park are under review. 7 e * I 'I Sewer Projects The CIP reflects Carlsbad's share of funding the Encina Budget. Included $844,000 in funds to repay the debt for the Phase Iv Expansion, and $488,000 the Solids Management Program. An additional $475,000 is scheduled in the 19' 92 budget for the Home Plant Lift Station project. Water Projects The largest 1991-92 Water District project is budgeted at $3.5 million for a pipe1 along Palomar Airport Road, from El Camino Real to Rancho Santa Fe Road. Th are also eleven Water District projects that are identified for funding through a st loan program center around the use of reclaimed water. To date there is mechanism in place to repay the loan. This is the second year that Water Dist projects have been included in the CIP. The projects and the accounting used them now fully conforms to the City's method for representing capital projects Traffic Simals There are no traffic signals requiring appropriation in 1991-92. Street Projects A total of $5.8 million in new appropriations is scheduled for street projects. largest expense is for the widening of Palomar Airport Road from El Camino I to Business Park Drive at $2.3 million. Funds are coming from Transnet/Loc; segment of the Proposition A Sales Tax program. The intersection improvemen El Camino Real and Palomar Airport Road is also scheduled for 91-92 at 4 million to be funded by TIF and TransneULocal. The remaining significant expc is an appropriation of $730,000 to the Streetscape Phase V with bond fund inte earnings offsetting project costs. 1-5 Interchanges The I-S/Palomar Airport Road Overpass is budgeted for $2.2 million during 15 92. This will begin the project which has the remaining $10.8 million needec complete the Interchange in 1992-93 from the CFD. A loan from Transnet allow the City the accelerate the project timing. CFD funds will be used to re the loan. 8 0 e 1.1 Outstanding Issues There are two issues which became apparent as steps were taken to formulate recommended CIP. These are outlined below. 1. Unfunded Projects - There continues to be is a list of projects identified, t have no specific funding source. These projects may be pursued as fund becomes available. Included on the unfunded list are eleven Public Art Projects. Historica funding for these projects is arrived at by applying 1% of the GCC proj costs to Art. As there are few GCC projects planned within the 1991-92 ( funding for public art is scarce. Council may wish to consider establish a policy which would require that 1% of the total project cost be alloca to art. This would eliminate a duplicate process for each project as we1 broaden the potential funding sources to the PFF, CFD and TIF. Water District Fund Balances - The Capital Surcharge fund which is use( replaced existing out-of-date or worn infrastructure, shows a negal balance beginning in 1992-93, and continuing through the 2001+ ti frame. Water District staff are presently investigating the possible issua of debt in order to remedy the problem. Should debt be given furt consideration, staff will need to review the water rate structure and estab the nature of the debt to be issued. Summary 2. Review of the CIP finds that all projects identified in the 1990-91 CIP continue to included. There is concern however, over the economy and the impact it will have on ( revenues. Lack of funds has caused the City to rethink how it can accomplish its cap projects. Generally the philosophy has been to build quality capital facilities which ml and at times exceed, growth management standards whenever economically benefic This philosophy worked when growth and related revenues were substantial. The lac1 funds now facing the City has resulted in the need to rethink capital projects. Conct such as phasing projects over a period of years, and timing them when funds are avail; need to become more prominent. As the new philosophy emerges, the City can still ex] to provide quality capital facilities which meet the need of Carlsbad's citizens. The 19 92 CIP reflects these concepts, in that staff has recommended the phasing of some park street projects until such time as projected revenues become available. Should the economy fail to recover within the next year, the City will need to continuf efforts in effectively timing projects to match revenues. 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IO0 I, IIWOOON NNIID II o rn I1 2 I ,I . ; ?* CU I; ** : -0 -0 p -- -0 -0 u v -4 I, v 0 ll0~00hvl00llW-4 ll0~00000000~ ll0~000000nvr I1 II I, I1 - II - D II N 4 I1 I, II II 8 2 II .b w ii 5 2 /j x 5 I1 W N II I1 II II - II 8 s II c: f II e W II II II i 5 2 II ? 2 !I s 4. I1 I1 II ii 5 2 It 5 I1 c II vl B I, 0. VI I1 I1 It .b io II N II 0 II 0 II - II II II I1 N II 0 II 0 II - I1 23 0 0 .I I 11/07/91 CAPITAL IMPROVEMENT PROGRAM CASH FLOW 1992 TO BUILDOUT YEAR 1 1991-92 BEGINNING FUND BAL 7/1/91 REVENUE EXPENDITURES END I NG ----------,.___--__-------------------------------~---------------------- GCC 502,084 56,200 445,884 PFF 2,661,618 1,821,974 3,560,000 923,592 ZONE 5 PARK FEE 1,534,200 200,000 1,734,200 PIL AREA 1 NU 1,431,805 118,312 1,550,117 PIL AREA 2 NE 392,736 141,460 534,196 PIL AREA 3 SW 516,960 91,820 608 , 780 PIL AREA 4 SE 386,374 102,880 489,254 TIF 1,424,223 757,699 1,710,000 471,922 PLD - OTHER 543,887 543,887 PLD - 3 26,968 26,968 PLD - 7 16,072 16,072 PLD - 9 349,096 349,096 SEWER CONST 6,832,314 1,190,410 4,494,365 6,528,359 TRANSNET/BIKE 400,000 250,000 150,000 TRANSNET/HIGHWAY (2,069,001) 1,875,000 2,000,000 (2,194,001) TRANSNET/LOCAL 647,082 3,015,000 3,315,000 347,082 SDG&E GAS TAX 1,745,587 1,745,587 SD COUNTY 210,383 320,000 530,383 GOLF BONDS 383,601 14,000,000 14,000,000 383,60 1 PUBLIC ART 41,038 562 41,600 ASSESSMENT DISTRICTS 422,767 422,767 LETTER OF CREDIT - 219 187,500 187,500 LTR CREDIT FOOTE 170,000 170,000 LTR CREDIT BCED AVIARA LOAN 91 3,000 913,000 FEDERAL GRANTS REDEVELOPMENT TAX INCREMENT BOND 647,082 100,000 730,100 16,982 STATE GRANTS (556,408) 520,000 503,416 (539,824) CDBG (550,200) (550,200) SENIOR GRANT/TRUST 3,028 3,028 CMMTY FACILITY DISTR 5,053,144 11,307,000 11,400,000 4,960,144 CFD DEBT SERVICE WATER DISTRICT FUNDS -STATE LOAN 5,000,000 5,000,000 -MAJOR FACILITY FEE 9,054,795 1,942,568 2,535,000 8,462,363 -CAPITAL SURCHARGE 2,909,859 2,157,693 2,277,500 2,790,052 TOTAL 34,558,066 46,335,906 50,105,109 30,788,863 .................... ----------- ----------- ----------- ----------- ........................................................................ ........................................................................ 24 0 0 r!l (1 11/07/91 CAPITAL IMPROVEMENT PROGRAM CASH FLOW 1992 TO BUILDOUT YEAR 2 1992-93 BEG INNING FUND BAL 7/1/92 REVENUE EXPENDITURES ENDING ........................................................................ GCC 445,884 445,884 PFF 923,592 3,502,492 4,575,000 (148,916) ZONE 5 PARK FEE 1,734,200 200,000 1,934,200 PIL AREA 1 NW 1,550,117 356,222 1,906,339 PIL AREA 2 NE 534,196 372,940 907,136 PIL AREA 3 SW 608,780 328 , 444 937,225 PIL AREA 4 SE 489,254 102,880 592,134 TIF 471,922 1,100,678 640,000 932,600 PLD - OTHER 543,887 543,887 PLD - 3 26,968 26,968 PLD - 7 16,072 16,072 PLD - 9 349,096 349,096 SEWER CONST 6,528,359 2,498,585 1,869,256 7,157,688 TRANSNET/BIKE 150,000 150,000 TRANSNET/HIGHWAY (2,194,001) 850,000 (1,344,001) TRANSNET/LOCAL 347,082 436,000 300,000 483,082 SDG&E 395,000 395,000 GAS TAX 1,745,587 1,745,587 SD COUNTY 530,383 157,500 687,883 GOLF BONDS 383,601 383,60 1 PUBLIC ART 41,600 41,600 ASSESSMENT DISTRICTS 422,767 422,767 LETTER OF CREDIT - 219 1,687,500 1,687,500 LTR CREDIT FOOTE LTR CREDIT BCED 2,241,265 2,241,265 AVIARA LOAN FEDERAL GRANTS REDEVELOPMENT TAX INCREMENT BOND 16,982 16,982 STATE GRANTS (539,824) ( 539,824 ) CDBG (550,200) (550,200) CMMTY FACILITY DISTR 4,960,144 22,264,000 20,335,000 6,889,144 CFD DEBT SERVICE WATER DISTRICT FUNDS -MAJOR FACILITY FEE 8,462,363 2,102,238 9,253,594 1,311,007 -CAPITAL SURCHARGE 2,790,052 1,076,434 10,262,750 (6,396,264) .................... --------___ __--------- ----------- _---------- TOTAL 30,788,863 39,672,178 49,318,100 21,142,942 ........................................................................ ........................................................................ 25 *e 0 ,* ,1 CAPITAL IMPROVEMENT PROGRAM 11/07/91 CASH FLOW 1992 TO BUILDOUT YEAR 3 1993-94 BEG1 NNI NG FUND BAL 7/1/93 REVENUE EXPENDITURES ENDING ........................................................................ GCC 445,884 445,884 PFF (148,916) 3,605,644 3,520,000 (63,272) ZONE 5 PARK FEE 1,934,200 200,000 2,134,200 PIL AREA 1 NU 1,906,339 356,222 2,262,561 PIL AREA 2 NE 907,136 334,360 1,241,496 PIL AREA 3 SU 937,225 331,325 1,268,550 PIL AREA 4 SE 592,134 102,880 695,014 TI F 932,600 1,121,731 2,090,000 (35,669) PLD - OTHER 543,887 543,887 PLD - 3 26,968 26,968 PLD - 7 16,072 16,072 PLD - 9 349,096 349,096 SEUER CONST 7,157,688 2,444,985 1,740,515 7,862,158 TRANSNET/BIKE 150,000 150,000 TRANSNET/LOCAL 483 , 082 349,000 300,000 532,082 SDG&E 550,000 550,000 TRANSNET/HIGHUAY (1,344,001) 1,045,000 (299,001 ) GAS TAX I ,745 , 587 I ,745,587 SD COUNTY 687,883 165,375 853,258 GOLF BONDS 383,601 383,601 PUBLIC ART 41,600 41,600 ASSESSMENT DISTRICTS 422,767 422,767 LETTER OF CREDIT - 2 LTR CREDIT FOOTE LTR CREDIT BCED 2,241,265 2,241,265 AVIARA LOAN FEDERAL GRANTS REDEVELOPMENT TAX INCREMENT BOND 16,982 16,982 STATE GRANTS (539,824) (539,8241 CDBG (550,200) (550,200) CMMTY FACILITY DISTR 6,889,144 26,417,000 22,763,000 10,543,144 CFD DEBT SERVICE UATER DISTRICT FUNDS -MAJOR FACILITY FEE 1,311,007 2,116,091 3,219,705 207,393 -CAPITAL SURCHARGE (6,396,264) 1,171,048 2,882,670 (8,107,886) .................... ------__--- __--------- ----------- ----------- TOTAL 21,142,942 40,310,661 37,065,890 24,387,713 ........................................................................ ........................................................................ 26 0 0 , ,L! ,- CAPITAL IMPROVEMENT PROGRAM 11/07/91 CASH FLOW 1992 TO BUILDOUT YEAR 4 1994-95 BEGINNING FUND BAL 7/1/94 REVENUE EXPENDITURES END I NG ........................................................................ GCC 445 , 884 445 , 884 PFF (63,272) 4,132,750 3,080,000 989,478 ZONE 5 PARK FEE 2,134,200 200,000 2,334,200 PIL AREA 1 NU 2,262,561 297,066 2,559,627 PIL AREA 2 NE 1,241,496 334,360 1,575,856 PIL AREA 3 SW 1,268,550 357,045 1,625,595 PIL AREA 4 SE 695,O 14 102,880 797,894 TIF (35,669) 1,119,099 340,000 743,430 PLD - OTHER 543,887 543,887 PLD - 3 26,968 26,968 PLD - 7 16,072 16,072 PLD - 9 349,096 349,096 SEWER CONST 7,862,158 2,434,935 5,192,800 5,104,293 TRANSNET/BIKE 150,000 150,000 TRANSNET/HIGHWAY (299,001) 1,135,000 835,999 TRANSNET/LOCAL 532,082 378,000 4,600,000 (3,689,918) SDG&E GAS TAX 1 , 745,587 1 , 745,587 SD COUNTY 853,258 173,650 1,026,908 GOLF BONDS 383,601 383,601 PUBLIC ART 41,600 41,600 ASSESSMENT DISTRICTS 422,767 422 , 767 LETTER OF CREDIT - 219 LTR CREDIT FOOTE LTR CREDIT BCED 2,241,265 2,241,265 AVIARA LOAN FEDERAL GRANTS REDEVELOPMENT TAX INCREMENT BOND 16,982 16,982 STATE GRANTS (539,824) (539,824 ) CDBG (550,200) (550,200) CMMTY FACILITY DISTR 10,543,144 14,020,000 3,950,000 20,613,144 CFD DEBT SERVICE WATER DISTRICT FUNDS -MAJOR FACILITY FEE 207,393 2,093,963 7,396,501 (5,095,145) -CAPITAL SURCHARGE (8,107,886) 1,272,557 534 ~ 375 (7,369,704) .................... --_________ ----------- ----------- ----------- TOTAL 24,387,713 28,051,305 25,093,676 27,345,342 ........................................................................ ........................................................................ 27 0 , db' )'a * CAPITAL IMPROVEMENT PROGRAM 11/07/91 CASH FLOW 1992 TO BUILDWT YEAR 5 1995-96 BEGINNING FUND BAL 7/1/95 REVENUE EXPENDITURES END I NG ........................................................................ GCC 445,884 445,884 PFF 989,478 3,373,552 4,235,000 128,030 ZONE 5 PARK FEE 2,334,200 200,000 2,534 , 200 PIL AREA 1 NU 2,559,627 191,614 2,380,000 371,241 PIL AREA 2 NE 1,575,856 334,360 1,910,216 PIL AREA 3 SW 1,625,595 357,045 1,982,640 PIL AREA 4 SE 797,894 102,880 900,774 TI F 743,430 1,074,363 340 , 000 1 ,477,793 PLD - 3 26,968 26,968 PLD - 7 16,072 16,072 PLD - 9 349,096 349,096 SEWER CONST 5,104,293 2,264,085 3,509,200 3,859,178 TRANSNET/BIKE 150,000 150,000 TRANSNET/HIGHUAY 835,999 1,230,000 3,450,000 (1,384,001) TRANSNET/LOCAL (3,689,918) 41 0,000 2 , 495,000 (5,774,918) SDG&E 1,745,587 1,745,587 GAS TAX SD COUNTY 1,026,908 182,350 1,209,258 GOLF BONDS 383,601 383,601 PUBLIC ART 41,600 41,600 ASSESSMENT DISTRICTS 422,767 422,767 PLD - OTHER 543,887 543,887 LETTER OF CREDIT - Z19 LTR CREDIT FOOTE LTR CREDIT BCED 2,241,265 2,241,265 AVIARA LOAN FEDERAL GRANTS REDEVELOPMENT 656,250 656,250 TAX INCREMENT BOND 16,982 16,982 STATE GRANTS (539,824) (539,824) CDBG (550,200) (550,200) CMMTY FACILITY DISTR 20,613,144 10,815,000 7,000,000 24,428,144 CFD DEBT SERVICE WATER DISTRICT FUNDS -MAJOR FACILITY FEE (5,095,145) 2,161,870 (2,933,275) -CAPITAL SURCHARGE (7,369,704) 1,092,335 (6,277,369) .................... ----------- ----------- ----------- ----------- TOTAL 27,345,342 24,445,704 24,065,450 27,725,596 -----L-_----__---___---------------------------------------------------- ........................................................................ 28 0 0 , ‘S’ a‘* ’ CAPITAL IMPROVEMENT PROGRAM 11/07/91 CASH FLOW 1992 TO BUILDWT YEAR 6-10 1996-2001 BEGINNING FUND BAL 7/1/96 REVENUE EXPENDITURES END I NG ........................................................................ GCC 445,884 445,884 PFF 128,030 16,719,479 15,135,250 1,712,259 ZONE 5 PARK FEE 2,534,200 1,000,000 2,000,000 1,534,200 PIL AREA 1 NU 371,241 958,070 1,329,311 PIL AREA 2 NE 1,910,216 1,661,512 3,571,728 PIL AREA 3 SU 1,982,640 1,656,625 1,278,500 2,360,765 PIL AREA 4 SE 900,774 564,554 1 , 465,328 TIF 1,477,793 5,341,551 7,107,000 (287,656) PLD - 3 26,968 26,968 PLD - 7 16,072 16,072 PLD - 9 349,096 349,096 SEUER CONST 3,859,178 11,307,025 7,681,800 7,484,403 TRANSNET/BIKE 150,000 150,000 TRANSNET/HIGHUAY (1,384,001) 4,350,000 2,965,999 TRANSNET/LOCAL (5,774,918) 1,450,000 1,500,000 (5,824,918) SDG&E GAS TAX 1,745,587 1,745,587 SD COUNTY 1,209,258 1,058,000 1,950,000 317,258 GOLF BONDS 383,601 383,60 1 PUBLIC ART 41,600 41,600 ASSESSMENT DISTRICTS 422,767 422,767 LETTER OF CREDIT - 219 LTR CREDIT FOOTE LTR CREDIT BCED 2,241,265 2,241,265 AVIARA LOAN FEDERAL GRANTS REDEVELOPMENT TAX INCREMENT BOND 16,982 16,982 STATE GRANTS (539,824) (539,824) CDBG (550.200) (550,200) CMMTY FACILITY DISTR 24,428,144 51,162,000 30,300,000 45,290,144 CFD DEBT SERVICE UATER DISTRICT FUNDS PLD - OTHER 543,887 543,887 -MAJOR FACILITY FEE (2,933,275) 10,802,071 22,621,052 (14,752,256) -CAPITAL SURCHARGE (6,277,369) 6,783,068 8,777,200 (8,271,501) .................... ___________ ______---__ ____-____-_ -____-_____ TOTAL 27,725,596 114,813,955 100,592,067 41,947,484 ........................................................................ ........................................................................ 29 a 0 , 1 J *=I e CAPITAL IMPROVEMENT PROGRAM 11 /07/91 CASH FLOW 1992 TO BUILDCUT 2001 .+ BEGINNING FUND BAL 7/1/2001 REVENUE EXPENDITURES END I NG ........................................................................ GCC 445,884 445,884 ZONE 5 PARK FEE 1,534,200 3,170,815 4,705,015 0 PFF 1,712,259 38,478,327 32,748,015 7,442,571 PIL AREA 1 NU 1,329,311 2,318,658 3,647,969 PIL AREA 2 NE 3,571,728 3,070,968 6,642,696 PIL AREA 4 SE 1,465,328 1,305,290 2,770,618 TIF (287,656) 13,970,393 9,290,000 4,392,737 PLD - 3 26,968 26,968 PLD - 7 16,072 16,072 PLD - 9 349,096 349,096 SEWER CONST 7,484,403 26,435,530 37,420,120 (3,500,187) TRANSNET/BIKE 150,000 150,000 TRANSNET/HIGHWAY 2,965,999 18,060,000 21,025,999 TRANSNET/LOCAL (5,824,918) 6,020,000 3,000,000 (2,804,918) SDG&E GAS TAX 1,745,587 1,745,587 SD COUNTY 3 1 7,258 613,125 930,383 GOLF BONDS 383,601 383,601 PUBLIC ART 41,600 41,600 ASSESSMENT DISTRICTS 422,767 422,767 LETTER OF CREDIT - 219 LTR CREDIT FOOTE LTR CREDIT BCED AVIARA LOAM FEDERAL GRANTS REDEVELOPMENT TAX INCREMENT BOND 16,982 16,982 STATE GRANTS ( 539,824 ) (539,824) CDBG (550,200) (550,200) CMMTY FACILITY DISTR 45,290,144 109,751,000 14,500,000 140,541,144 CFD DEBT SERVICE WATER DISTRICT FUNDS PIL AREA 3 SU 2,360,765 2,425,211 4,785,976 (0) PLD - OTHER 543,887 543,887 -MAJOR FACILITY FEE (14,752,256) 28,462,717 8,273,438 5,437,023 -CAP1 TAL SURCHARGE (8,271,501 ) 21,526,656 675,000 12,580,155 TOTAL 41,947,484 275,608,690 128,458,847 189,097,327 .................... ---_----___ __--------- ----------- --------_-- ........................................................................ ........................................................................ 30 0 il) , . r(. h-- . CAPITAL IMPROVEMENT PROGRAM 11/07/91 CASH FLOW 1992 TO BUILDWT GRAND TOTALS ALL YEARS TOTAL TOTAL FUND BEGINNING BAL REVENUE EXPENDITURES END I NG ........................................................................ GCC 502,084 56,200 445,884 ZONE 5 PARK FEE 1,534,200 5 , 170,815 6,705,OI 5 0 PFF 2,661,618 71,634,218 66,853,265 7,442,571 PIL AREA 1 NU 1,431,805 4,596,164 6,027,969 PIL AREA 2 NE 392,736 6,249,960 6,642,696 PIL AREA 4 SE 386,374 2,384,244 2,770,618 TIF 1,424,223 24,485,514 21,517,000 4,392,737 PLD - 3 26,968 26,968 PLD - 7 16,072 16,072 PLD - 9 349,096 349,096 SEWER CONST 6,832,314 48,575,555 58,908,056 (3,500,187) TRANSNET/BIKE 400,000 250,000 150,000 TRANSNET/HIGHWAY (2,069,001) 28,545,000 5,450,000 21,025,999 TRANSNET/LOCAL 647,082 12,058,000 15,510,000 (2,804,918) GAS TAX 1,745,587 1,745,587 SD COUNTY 210,383 2,670,000 1,950,000 930,383 GOLF BONDS 14,000,000 14,000,000 PUBLIC ART 41,038 562 41,600 ASSESSMENT DISTRICTS 422,767 422,767 LETTER OF CREDIT - 219 1,875,000 1,875,000 LTR CREDIT FOOTE 170,000 170,000 LTR CREDIT BCED 2,241,265 2,241,265 AVIARA LOAM 913,000 913,000 FEDERAL GRANTS REDEVELOPMENT 656,250 (656,250) TAX INCREMENT BOND 647,082 100,000 730,100 16,982 STATE GRANTS (556,408) 520,000 503,416 (539,824) CDBG (550,200) (550,200) SENIOR GRANT/TRUST 3,028 3,028 CMMTY FACILITY DISTR 5,053,144 245,736,000 110,248,000 140,541,144 CFD DEBT SERVICE WATER DISTRICT FUNDS PIL AREA 3 SU 516,960 5,547,516 6,064,476 (0) PLD - OTHER 543,887 543,887 SDG&E 945,000 945,000 -STATE LOAN 5,000,000 5,000,000 -MAJOR FACILITY FEE 9,054,795 49,681,518 53,299,290 5,437,023 -CAPITAL SURCHARGE 2,909,859 35,079,791 25,409,495 12,580,155 .................... ----------- ----------- -______---- ----------- TOTAL 34,174,465 568,582,150 414,699,139 188,057,476 ________________________________________-------------------_------------ ........................................................................ 31