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HomeMy WebLinkAbout1991-12-10; City Council; 11476; 1991-92 TO BUILDOUT CAPITAL IMPROVEMENT PROGRAM PUBLIC HEARING,. # '* r* E & 8 .. z 0 E a e z 3 0 0 61T-F CARLSBAD - AIjtNUwILL 9 1, AB#*. TITLE: DEPl MTG. 12/10/91 1991-92 TO BUILDOUT CAPITAL CITY DEPT. FIN IMPROVEMENT PROGRAM PUBLIC HEARING CITY RECOMMENDED ACTION: 1. Hold public hearing on the 1991-92 to Buildout Capital Improvemei Program. Adopt Resolution No.?/ -37 '? adopting the Capital Improvement Progra and appropriating funds. Adopt Resolution No.(?/ -3 9 8 amending the spending limit for 1990-5 and adopting the spending limit for 1991-92. 2. 3. ITEM EXPLANATION: The 1991-92 to buildout Capital Improvement Program (CIP) totals $414 million and funds 185 projects. Capital Improvement Projects scheduled f 1991-92 total $50.1 million which Will fund 44 projects. This represents decrease of $.4 million or 1.6% from the adopted 1990-91 CIP. Revenues for t: 1991-92 projects total an estimated $46.3 million and come from a variety funding sources which include development fees, Community Facilities Distn bonds, golf course bonds, and Transnet sales taxes for road improvements. Just over 50% of the 1991-92 revenues come from bond proceeds. Golf cour bonds total $14 million or 30%, while Community Facility District Bonds to1 $10.8 million or 23% of the total. Another $5 million in revenues are the res1 of a state loan to fund water reclamation projects. Development fees bring ir total of $6.3 million or 13.6% of the total projected revenues. Examples projects funded by developer fees include cornmunity parks, traffic signals, aj roadway improvements. While development related fees appear to represen1 small part of the total revenues, the completiion of many scheduled projects a dependent upon these fees, and their importance should not be underestimatc Historically, projects have been scheduled to meet or exceed growth manageme standards. The slow economy resulted in effcn-ts to meet the standards in a nf way. The 1991-92 to buildout CIP includes two street and two park projec which will be completed in phases. These i3ctions maintain a balanced fisc position while continuing to meet the standards of a growing citizenry. T weak economy and the slow development rates Carlsbad is experiencing i causes for concern, as these occurrences have a direct impact on the reven figures. Revenues for 1991-92 to buildout have been projected using the Grow Management Plan phasing schedule which is optimistic. Should growth contin at its depressed rate, the scheduling of projects will need to be altered. V t": r) @ Page Two of Agenda Bill No. /I; V?h - The CIP presented to Council is intended to be a working document which ca be modified or adjusted as Council sees fit. The final CIP will be brought bac to City Council in two to three weeks for a public hearing and adoption. In addition to adopting the Capital Improvement Program budget, the Council also asked to amend the 1990-91 Gann spending limit as allowed by Propositic 111 which modified Article XIIIB of the California Constitution. The new spendir limit for 1990-91 is $52,773,627. Council is further asked to adopt the Gar spending limit for 1991-92 which is calculated at $64,977,941. 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 2. Resolution No.5 I - 37 ? adopting the Capital Improvement Program ai appropriating funds. Resolution No. 0i I *3%mending the 1990-91 spending limit and adopti: the 1991-92 spending limit. 3. I.r -I v W 1991-92 Capital I-rr~provement Program Introduction The Capital Improvement Program for 1991-92 totals $50.1 million, which is near identical to the 1990-91 adopted budget of $51.5 million. This represents a decrease I $.4 million or 1.6%. Projected revenues for the 91-92 pirogram total $46.3 million and a up by $3.2 million or 7.4% over the 1990-91 budget. Although total revenues for 1991-5 are up, weak economic conditions nationally and localky as well as dramatically declinir construction levels have resulted in reduced development related revenues. Revenu collected as the result of new residential and commerciaVindustrial development occur a down by $5.9 million or 92.2%. This has resulted in :modifications to the scheduling projects. This report and the accompanying CIP documents reflect the actions taken address the issue of funding availability weighed against the demand for facilities, a growth. As the City continues to monitor growth in conjunction with revenues, it has becoi 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, wh in turn impacts expenditures schedules. Most expenditure schedules were established usj the Growth Management standards as guidelines. Interwoven into this formula are fis constraints which are becoming more important. This year, lack of available funds 1 forced some projects to be recommended for phasing, and reflects a change in philosop: Previously, the City chose to build facilities to meet rnaximum population expectatio NOW, the philosophy is shifting to one where phasing of projects will more closely ma the incremental growth demands. Further, in cases where facility availability fails to m growth management standards, developers may be required to finance design i construction costs. As growth revenues decline, the expenditures too must be alte accordingly. The Growth Management system used by the City needs to be viewed v flexibility, as well as in concurrence with other external issues, including the gent 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 hig budget figures for park projects. The new cost estimate for park development is $135,1 per acre, up from $115,000 per acre. Second, in August, 1991, the Planning Cornmiss reviewed all projects new to the 1991-92 CIP for General Plan consistency. All projl 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. FOL Traffic Impact Fee projects have been revised to reflect the projects identified in the SI presented to Council in October, 1991. Fifth, Sewer projects have also been revise reflect the projects contained in the recently adopted Sewer Master Plan. The accurately shows Carlsbad's share of the Encina Wastewater Facility's capital pro2 budget. 1' a I 0 0 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 CrP in general. Revenue Revenues for Capital Projects may be broken down into three major categories as follot 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 belc 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 comercial/industrial 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 @THE? s~~~E~~ TQAF'IC MPACT T34 2 6% $245 4% WAJCR ;ACILITV FEE FUBLIC ~ACICIIY FEE $49 7 9% $71 5 13% PARK IN-LIEU CAPITAL SCIRCtiARGE $35 1 6% TRANS NET $41 7% $188 3% CWNT Y FACIL DlSTR $245 7 43% Total Rovonuos = $563 Mllllon Several assumptions about the rate and type of growth were made in order to project revenues which rely upon development. Growth assumptions were compiled usin projections used in the Growth Management Program, which continue to change ' with the economic climate. For example, this year residential and non-residential gr rates have been reduced from earlier projections to reflect the volumes of gr anticipated in a weak economy. The table on the following page compares the numl residential units used for projecting for the 1991-92 CIP revenues with the number of used in the 1990-91 CIP. As can be seen, the number of residential units projectc 1991-92 has been decreased by 373, while in 1992-93 a decrease of 180 is shown, 2 90-91 Total 91 -92 Totd No. Units No Units Drtf 90-91 Total Sq Ft. Year Resid Resid to 91 -92 Commllnd 91 -92 899 526 (373) 1,ooo,000 92-93 1488 1,308 (180) 1,o0O,ooo 93 - 94 1408 1,356 (52) l,oOO,OOO 94 - 95 1371 1,350 (21) l,o0O,OOO 95-96 NIA 1,248 1 .m,ooo Years 5 - 10 1,376 1,246 (130) 1.O00,oOo Yearr - Mol + 995 1,088 93 1,m,ooo 3000 2500 A 2000 - 1500 - 1000 - 500 - 0' YEARS 1 TO 5 OF CIP - -$ ! 0 e Non-residential growth patterns and projections were also reviewed, and modified. current assumption is that there will be approximately 1 million square feet of I 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 o 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. VI 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 red development on the PFF, a growth related revenue. As can be seen, lower leve residential and cormnercial/industIial square foot development results in dramati reduced revenues. PFF ENDING BALANCE Growth Management vs. Economy Million8 5 4- I Varlablo projoctlonr not mad. for thla timo prtod. 91 -92 92-93 93-94 94-95 95-96 Fiscal Year - Growth Management * Estimate #4 * Estimate #2 The mix of attached and detached residential units is assumed to be 55% and respectively. This is the same ratio as has been applied in the past and continues to t anticipated mix of residential development. The building permit valuation use computing public facilities fees was $89,500 per attached dwelling unit, and $153,0C detached dwelling unit. The mix of commercial and industrial is assumed to be 409 60% respectively. The commercial category also includes office development. In order to calculate estimated revenues for the Traffic Impact Fee (TIF), the numl average daily trips had to be computed for each type of use. An attached dwellin: 4 1% I 0 a - 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 vii for commercialhdustrial was averaged at 17 trips per 1,000 square feet of developmc The volume of trips generated by commercial/industrial development can vary wic depending on the ultimate land use. The value of each commercial/industrial trip I established at $63.00. Sewer fees were calculated by assessing each residential unit (EDU) $1,675. Commerc 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 ( 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 1 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 previot 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 bc transferred to the CFD. 5 t I @ 0 ExDenditures The 1991-92 to buildout CIP outlines a total of 185 projects at a total cost of $41d million. The pie chart below indicates that the largest segment of expenditures are wit] the Parks category at $94.2 million or 23%. Included are park projects within quadrants of Carlsbad as well as Veteran’s Memorial Park. Other major park proje include the Golf Course, Larwin Park, Alta Mka Park, Alga Norte Park, and a comur park in Zone 19. Park project expenditures are followed in dollar value by Water projc which total $83.7 rdlion, and include new and replacement pipelines and resen maintenance. Major street projects in the CIP are the widening of the railroad overpas at Poinsettia Boulevard, and Palomar Airport Road, La Costa Boulevard widening, and extension of Faraday Boulevard. The smallest expenditure category for projects is Tra Signals, at $3.3 million or 1%. Specific timing and cost estimates for projects are identfi in the table immediately following. CAPITAL IMPROVEMENT PROGRAM PROJECT ALLOCATION 1991-92 TO BUILDOUT PARKS $952 23% TRAFFIC SIGNALS SIR €ET PROJECTS $78 9 19% $837 20% Total CIP to Bulldout I 5414.7 MlllIM Specific phasing of projects is reliant upon fund availability as well as efforts taken to 1 established growth management standards for facilities. Wherever recommended prc scheduling changes occurred, they were based upon a thorough review of the Grc 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 fund6 the PFF, which is now balanced as a result of the timing changes. The altered project! related issues are identified on the following page. 6 * , a 0 Southeast Quadrant Parks Alga Norte Park - Construction for this park is now scheduled for the 1996-2( time period. In the 1990-91 CIP, Alga Norte park was scheduled for pha construction h 1991-92, and in 1992-93. Under of provisions of the existing pa agreement, and to comply with the growth management standards, this park ne to be completed in 1993-94. Staff is presently working with the developer accomplish the more imminent deadline. Carrillo Ranch Park - The scheduling for this park has not been altered from t shown in the 1990-91 CIP. Construction is shown in 1994-95. Carrillo Ra however, faces the same development related issues that are encountered with P Norte Park. Access to the area will not be established until development occ and it is now estimated that this will OCCUT until sometime later than 1994-9: may be necessary to defer this park in the future should these issues continut exist. Southwest Quadrant Parks Alta Mira Park - The construction of Aka Mka park has now been phased into segments. The prior year CIP showed the construction of all 42 acres in 1992 Due to funding constraints, construction will be phased, providing $4.0 millioi funds in 1992-93 and $3.0 million in 1995-96. Initial design for this park wil completed by May, 1992 which will result in more accurate cost estimates for E phase, as well as the amenities to be built at each stage. Zone 19 Park - Developer funds of $1,875,000 are available through a lette credit and can be used to construct the first phase, 15 acres, of Zone 19 Park. CIP shows construction of Zone 19 Park for 1992-93, which is one year earlier t was shown in the 1990-91 CIP. Lack of development in the area, and access to park site are still issues which need to be addressed before embarking on project. Streets Palomar Airport Road Railroad Bridge - - This project also includes the intersec realignment of Palomar Airport Road and Carlsbad Boulevard. Instead of func the entire project cost of $4.0 million in 1995-96, $1.0 million will be funde that year, with the remaining $3.0 million occurring in the 1996-2001 time per The City can expect to undertake the project in 1996-97. Poinsettia Lane Railroad Bridge Widening - This project was scheduled in 199! at $2.0 million, and was pushed back into the 1996-2001 time period. f i . e e .) 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 Pak projects occupy one third of the total 1991 expenditures at $16.9 million. Twenty five percent or $12.3 don of the budge allocated to Civic projects. Sewer projects account for the least amount of expendit1 at $1.5 don or 3%. Following is a detailed explanation of the significant 1991-92 projects by category. CAPITAL IMPROVEMENT PROGRAM 1991-92 PROJECTS BY MAJOR CATEGORY 1-5 INTERCHANGES $34 7% STREET PROJECTS WATER $62 12% $98 20% Told 91-92 CIP I $50.1 Mllllon Civic Proiects The significant projects scheduled for 1991 -92 appropriation include the expend of CFD funds toward the South Carlsbad Library at $11.2 million. Design fun $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 w $14 million bovd issue. The repayment of the debt is considered an oper expense, and does not appear within the CIP. It should be noted that the Ge Fund contribution to the Golf Course is limited to between $700,000 and $80( annually. Additional debt service expenses will need to be met through the Course Enterprise Fund, and the appropriate setting of user fees. Larwin PZ $2.5 million is the one City park scheduled for a 1991-92 appropriation. I design plans for this park are under review. 7 i . e . Sewer Projects The CIP reflects Carlsbad’s share of funding the Encina Budget. Include( $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 Proiects The largest 1991-92 Water District project is budgeted at $3.5 million for a pipe1 along Palomar Airport Road, from El Carnho Real to Rancho Santa Fe Road. Th are also eleven Water District projects that are identified for funding through a si 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 Citfs method for representing capital projects Traffic Sinnals There are no traffic signals requiring appropriation in 1991-92. Street Proiects A total of $5.8 million in new appropriations is scheduled for street projects. 1 largest expense is for the widening of Palornar Airport Road from El Camino R to Business Park Drive at $2.3 million. Funds are coming from Transnet/Loca segment of the Proposition A Sales Tax program. The intersection improvemeni El Camino Real and Palornar Airport Road is also scheduled for 91-92 at $- million to be funded by TIF and Transnet/Local. The remaining sigmficant exper is an appropriation of $730,000 to the Streetscape Phase V with bond fund inter earnings offsetting project costs. 1-5 Interchanges The I-S/Pdomar Airport Road Overpass is budgeted for $2.2 million during 19‘ 92. This will begin the project which has the remaining $10.8 million needed complete the Interchange in 1992-93 from the CFD. A loan from Transnet M allow the City the accelerate the project timing. CFD funds will be used to rep the loan. 8 i W e Outstanding Issues There are two issues which became apparent as steps were taken to formulate 1 recommended CIP. These are outlined below. 1. Unfunded Pro-iects - 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. Histonca funding for these projects is arrived at by applying 1% of the GCC pro] 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 usec replaced existing out-of-date or worn infrastructure, shows a nega balance beginning in 1992-93, and continuing through the 2001+ t frame. Water District staff are presently investigating the possible issua of debt in order to remedy the problem. Should debt be given ~LKI consideration, staff will need to review the water rate structure and estat: 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 tc 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 ca] projects. Generally the philosophy has been to build quality capital facilities which n and at times exceed, growth management standards whenever economically benefi This philosophy worked when growth and related revenues were substantial. The lac funds now facing the City has resulted in the need to rethink capital projects. Conc 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 1' 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 continL efforts in effectively timing projects to match revenues. 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U < 2g:j I- mull 2 W I, LL 2 ?,I q z u !I a a II x m II E E I, = II 0 .(I II u w ,I f x II :: a I! 2 * II I8 w II 0 Y II -I < ,I -1 2 ,I<= s i II 5: 5 II n I- Ei IIZZE za; I-IIaau ,mi: L +eGGuz;g:- u II < oz TI,-- -"I:" /gg$E%":' I, 1.5:; g g:5 I!uuu~L%,:- j/ zzzz52; E s: AI -, ,I < c 11 m Y I, u) In ,I A z WIIUPZ -I I, w m Iu) lW 2: - I-II<<S~ w II I- I- zs 0 Y 011v)v)Y w-*o LlIZZ-IW03lW nit<<< ,I A ,a lIII8& IICCCC~W I u=LLLLLL 11<<<<0 If--- v) '-I ;;gggggz I < I, t It u II w . I, s: IC), $ P ij *.I* n 11 23 i ,: 0 0 CAPITAL IMPROVEMENT PROGRAM 1 1 /07/91 CASH FLOU 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 3,560,000 923,592 200,000 1,734,200 ZONE 5 PARK FEE 1,534,200 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 SU 5 16,960 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 - 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 1,494,365 6,528,359 TRANSNET/BIKE 400,000 250,000 150,000 TRANSNET/HIGHUAY (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 14,000,000 383,601 PUBLIC ART 41,038 562 41,600 ASSESSMENT DISTRICTS 422,767 422,767 LETTER OF CREDIT - 219 1 87,500 187,500 LTR CREDIT FOOTE 170,000 170,000 LTR CREDIT BCED AVIARA LOAN 913,000 913,000 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 CMTY FACILITY DISTR 5,053,144 11,307,000 11,400,000 4,960,144 CFD DEBT SERVICE WATER DISTRICT FUNDS PLD - OTHER 543,887 543,887 -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 ~P "'I ,; 0 0 CAPITAL IMPROVEMENT PROGRAM 1 1 /07/91 CASH FLW 1992 TO BUILDOUT YEAR 2 1992-93 BEG1 NNI NG FUND BAL 7/1/92 REVENUE EXPENDITURES END I NG ........................................................................ 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 NU 1,550,117 356,222 1,906,339 PIL AREA 2 NE 534,196 372,940 907,136 PIL AREA 3 SU 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 - 3 26,968 26,968 PLD - .7 16,072 16,072 PLD - 9 349 , 096 349,096 SEUER CONST 6,528,359 2,498,585 1,869,256 7,157,688 TRANSNET/BIKE 150,000 150,000 TRANSNET/HIGHUAY (2 , 194,001 1 850,000 ( 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 PLD - OTHER 543,887 543,887 GOLF BONDS 383,601 383,601 PUBLIC ART 41,600 41,600 ASSESSHENT 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 UATER 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 ., r, ' ; ,. 0 CAPITAL IMPROVEMENT PROGRAM 11/07/91 CASH FLOV 1992 TO BUILDOUT YEAR 3 1993-94 BEGINNING FUND BAL 7/1/93 REVENUE EXPENDITURES END I NG ........................................................................ GCC 445, w 445 , 884 PFF ( 148,916) 3,605,644 3,520,000 (63,272 1 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 SW 937,225 331,325 1,268,550 PIL AREA 4 SE 592,134 102,880 695,014 TIF 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 SEWER 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 GAS TAX 1 , 745,587 1,745,587 853 , 258 SD CWNTY 687,883 165,37!5 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) (539,824) CDBG (550,200) (550,200) CMMTY FACILITY DISTR 6,889,144 26,417,000 22,763,000 10,543,144 CFD DEBT SERVICE WATER DISTRICT FUNDS TRANSNET/HIGHUAY (1,344,OOI) 1,045,000 (299,001 1 -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 ........................................................................ 2 6' I, r, ; ; 0 e CAPITAL IMPROVEMENT PROGRAM 11/07/91 CASH FLOU 1992 TO BUILDOUT YEAR 4 1994-95 BEG INN I NG 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 SU 1,268,550 357,045 1,625 , 595 PIL AREA 4 SE 695,014 102,880 797,894 TIF (35,669) 1,119,099 340,000 743,430 PLD - 3 26,968 26,968 PLD - 7 16,072 16,072 PLD - 9 349,096 349,096 SEUER CONST 7,862,158 2,434,935 5,192,800 5,104,293 TRANSNET/BIKE 150,000 1 50,000 TRANSNET/HIGHUAY (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 CWNTY 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 FWTE LTR CREDIT BCED 2,241,265 2,241,265 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 10,543,144 14,020,000 3,950,000 20,613,144 CFD DEBT SERVICE UATER DISTRICT FUNDS PLD - OTHER 543,887 543 , 887 -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 ,i- I a 0 CAPITAL IMPROVEMENT PROGRM 11 /07/91 CASH FLOU 1992 TO BUILDOUT YEAR 5 1995-96 BEGINN ING 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 1,910,216 357,045 1,982,640 PIL AREA 3 SU 1,625,595 PIL AREA 4 SE 797,896 102,880 900,774 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 TRANSNETDIKE 150,000 150,000 TRANSNET/HIGHWAY 835,999 1,230,000 3,450,000 (1,384,001) TRANSNET/LOCAL (3,689,918) 410,000 2,495,000 (5,774,918) SDG&E GAS TAX 1,745,587 1,745,587 SD CCUNTY 1 ,026,908 1 82,350 1,209,258 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 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 PLD - OTHER 543,887 543,887 2,241,265 -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 -----~.------------------------------------------------------------------ ........................................................................ 28 I, 0 0 7 i, I v CAPITAL IMPROVEMENT PROGRAM 11/07/91 CASH FLOU 1992 TO BUILDOUT YEAR 6-10 1996-2001 BEG1 NNI NG FUND BAL 7/1/96 REVENUE EXPENDITURES ENDING ------_-----_-_-*-__---------------------------------------------------- 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 i19a2,640 1,656,625 1,278,500 2,360,765 PIL AREA 4 SE 900 , 774 564,554 i,465,32a TIF 1,477,793 5,341,551 7,107,000 (287,656) PLD - OTHER 543, a87 543,887 PLD - 3 26,968 26,968 PLD - 7 16,072 16,072 PLD - 9 349,096 349,096 TRANSNET/BIKE 150,000 150,000 TRANSNET/HIGHUAY ( 1 , 384,001 ) 4,350,000 2,965,999 SDG8E GAS TAX 1,745,581 1 , 745,587 SEVER CONST 3,859,178 11,307,025 7,tm,aoo 7,4~,403 TRANSNET/LOCAL (5,774,918) 1,450,ooo 1,500,ooo t5,824,9ia) SD COUNTY 1,209,258 1,058,000 1,950,000 317,258 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 INCREMEMT BONO 16,982 16,982 STATE GRANTS (539,824) (539,824 ) CDBG (550.200) (550,200) CMMTY FACILITY OISTR 24,428,144 51,162,000 30,300,000 45,290,144 CFD DEBT SERVICE UATER DISTRICT FUNDS -MAJOR FACILITY FEE (2,933,275) 10,802,077 22,621,052 (14,752,256) -CAPITAL SURCHARGE (6,2n,~9) 6,783,068 a1777,200 (a,271,501) TOTAL 27,725,596 ii4,ai3,m 100,592,067 4il947,4a __________*_-__-___- -_-----__-- ----------- ----------- ----------- ........................................................................ ........................................................................ 29 'I 0 0 'r, &I 4- P CAPITAL IMPROVEMENT PROGRAM 11/07/91 CASH FLOU 1992 TO BUILDOUT 2001 + BEG1 NNI NG FUND BAL 7/1/2001 REVENUE EXPENDITURES ENDING ........................................................................ GCC 445,884 445,884 PFF 1,712,259 38,478,327 32,748,015 7,442,571 ZONE 5 PARK FEE 1,534,200 3,170,815 4,705,015 0 , 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/EIKE 150,000 150,000 TRANSNET/HIGHUAY 2,965,999 18,060,000 21,025,999 TRANSNET/LOCAL (5,824 , 918) 6,020,000 3 , 000 , 000 ( 2,804,918) SDCBE GAS TAX 1,745,587 1 , 745,587 SD COUNTY 317,258 613,125 930 , 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 LOAN FEDERAL GRANTS REDEVELOPMENT TAX INCREMENT BOND 16,982 16,982 STATE GRANTS (539,824) (539,824) CDEG (550,200) (550,200) CWTY FACILITY DISTR 45,290,144 109,751,000 14,500,000 140,541,144 CFD DEBT SERVICE UATER DISTRICT FUNDS PIL AREA 3 SU 2 ,360 ,765 2,425,21 I 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 -CAPITAL 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 _____________-_----- -_--_______ _-_-___-___ _----L----- ----------- ........................................................................ ........................................................................ 30 ~ 'c > e 0 I- - CAPITAL IMPROVEMENT PROGRAU 11/07/91 CASH FLCU 1992 TO BUI LDUJT 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 6,705,015 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 3 SW 516,960 5,547,516 6,064,476 (0) 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 - 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 48,575,555 58,908,056 (3,500,187) TRANSNET/BIKE 400,000 250,000 150,000 TRANSNET/HIGHUAY (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 LOAN 91 3,000 913,000 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 GRAMT/TRUST 3,028 3,028 CMMTY FACILITY DISTR 5,053,144 245,736,000 110,248,000 140,541,144 CFD DEBT SERVICE UATER DISTRICT FUNDS SDGLE 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 8,. 0 0 or. .3.n12 ~.II!J~II: i i 12t t1-1~. t1.1 i:.:;. l:lj L.3.r. i .E.~~,IZ, -I i ne FV i ~riid~. 0-i; i.2,ke C.3.j .s.i.~er.3. 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I:! ij r X: e E:! f !..u..i .s. t e j- L! i rici udi nisi the ijse I:I+ rei:! 3,;me;zi 1.q3.te.r L/ l,.!i 1; c~.jt~~.~:&..~, 1:3.ij.z.g the de! a:i' in gettin12 ret:i.s.irne~d i....ja.ter ~I:I is.ke C.s.l3.t.~er.3. .2.re.s.? ~. .- _- !.>..ie !.>.J I 1 j I: I:I fi t j n id e t t:t kt e 1 i e :,> e t fi e p r 3:lp $:I.~. e $5 c; c I + I: 0 ij r .z, e ! 'E, .. ~ Sin.2.n!:ial jy ijn+e.s:Z.:c%ie !),ii ti-! the #d.s.t.s. I.>.j@ i-f.s.i.,Je &zidrrefitly. iJe I_ IJ I: 1 ar j f y t h 2 f ii ri 33 i r! 12 12-f t h e gl r l:l p 12':. e !j q~:, f f l: !:I !J r .z.e D .. i.ileii:i:irne .2. iiet.>.ilpd letter I:I~ hat.;iirig 2, mee.iir!tz i..iith the !:it;.' A _. I -. t !-' i e # !j.: -. i2f Lab:: e IT: 2. 1 .3.1...: e f .s. . I "='" il ..-: izi 3.k kt,.) e i-1 1-1 g , I:& p2ci CI 8 *%r 0 e Carlsbad J Decreed A Legal Newspaper by the Superior Court of Sun Diego County Mail all correspondence regarding public notice advertising to W.C.C.N. Inc. P.O. Box 230878, Encinitas, CA 92023-0878 (619) 753-6543 Proof of Publication STATE OF CALIFORNIA, ss. COUNTY OF SAN DIEGO, I am a citizen of the United States and a resident of the county aforesaid; I am over the age of eighteen years, and not a party to or interested in the above entii I am principal clerk of the printer of the Carlsbad Journal, a newspaper of general published weekly in the City of Carlsbad, County of San Diego, State of California, and which is published for the dissemination of locaI news and intelIigence of a genera1 character, newspaper at all times herein mentioned had and still has a bona fide subscription lisi subscribers, and which newspaper has been established, printed and published at regular intc said City of Oceanside, County of San Diego, State of California, for a period exceeding onc preceding the date of public: notice hereinafter referred to; ( notice of which the annexed copy, has been published in e and entire issue of said newsp? in any supplement thereof on ing dates, to-wit: NOTICE OF The City of Carlsbad will hold a PUBLIC HEARING CITY OF CARLSBAD publlc hearing on Tuesday, Decem ber 10,1991, at 6 00 P M in the Coun- cil Chambers of City Hall, 1200 Carlsbad Village Drive, Carlsbad, California, to discuss the 1991-92 to Buildout Capital Improvement pro- gram Budget Also included will be discussion on the Carlsbad Muni- cipal Water District Capital Im- provement Program Budget as well as discussionon behalfoftheHous- Ing and Redevelopment Board re- garding the Redevelopment Capit- al Improvement Program Budget Interested parties are invited to attend this meeting and present their views and comments to the City Council Copies of the Budgets are avail- able for public inspection at the City Clerk's office, 1200 Carlsbad Village Drive, or the two libraries 1250 Carlsbad Village Drive, Carls- bad, and La Costa Branch, 7750 #M, EL Camino Real, Carlsbad Written and telephone inquiries may be directed to Debbie Neville of the Finance Department, 1200 4342973 CJ 6475 November 27,1991 November 27 I certify under penalty of per] foregoing is true and correct. Carlsbad, County of San Die California on the 27th Rovember, 19' day of Carlsbad Village Drive, Carlsbad, A@ /Clerk * *, i 0 0 NOTICE OF PUBLIC HWNG CITY OF CARLSBAD The City of Carlsbad will hold a public hearing on Tuesday, December 10, 1991 6:OO P.M. in the Council Chambers of City Hall, 1200 Carlsbad Village Drive, Carlst California, to discuss the 1991-92 to Buildout Capital Improvement Program Budget. t included will be discussion on the Carlsbad Municipal Water District Capital Improverr Program Budget as well as discussion on behalf of the Housing and Redevelopment Bc regarding the Redevelopment Capital Improvement Program Budget. Interested parties are invited to attend this meeting and present their views comments to the City Council. Copies of the Budgets are available for public inspection at the City Clerk’s ofi 1200 Carlsbad Village Drive, or the two libraries: 1250 Carlsbad Village Drive, Carlst and La Costa Branch, 7750 #M, El Camino Real, Carlsbad. Written and telephone inquires may be directed to Debbie Neville of the Fina Department, 1200 Carlsbad Village Drive, Carlsbad, 434-2973. , 1 8' i 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 0 0 . RESOLUTION NO. 91-397 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, ADOPTING THE CITY'S CAPITAL, IMPROVEMENT PROGRAM AND APPROP€UATIN< FUNDS FOR 1991-92 PROJECTS WHEREAS, the City Council has determined that it is in the bes interest of the City of Carlsbad to adopt a long-range Capital Improvemer Program; and WHEREAS, the City Council may from time-to-time amend th program as City priorities and needs change; and WHEREAS, funding is available or will be made available during fisc; year 1991-92 from existing funds, or projected revenues or transfers c unappropriated funds from the General Fund to the General Capit: Construction Fund; and WHEREAS, the City Council finds that the projects included in th Capital Improvement Program are consistent with the Carlsbad General Plar NOW, THEREFORE, BE IT RESOLVED by the City Council of the Cil of Carlsbad that the Capital Improvement Program is hereby adopted an that the necessary funds and transfers are hereby appropriated and approve( /// /// /// /// /// /// I I * 4, i * 1 2 3 4 5 6 7 8 9 lo 11 12 13 14 15 16 17 l8 19 20 21 22 23 24 25 26 27 28 0 0 PASSED, APPROVED AND ADOPTED, at a regular meeting of the City Council of the City of Carlsbad, California, held on the loth day of Decembc , 1991, by the following vote, to wit: AYES: Council Members Lewis, Kulchin, Larson, Nygaard NOES: None ABSENT: None ’ ATTEST: &Q&& d-R- METHA L. RAUTENKRANZ, City Clerk (SEAL) I I r 1) 1 .L 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 0 0 RESOLUTION NO. 9 1 - 3 9 8 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, AMENDING THE 1990-91 APPROPRIATION LIMIT AND ESTABLISHING THE 1991-92 APPROPRIATION LIMIT AS REQUIRED BY ARTICLE XIIIB OF THE CALIFORNIA STATE CONSTITUTION AND STATE LAW WHEREAS, Article XIIIB of the California State Constitutior requires that governments annually establish a limit on the appropriation 0: proceeds of taxes; and WHEREAS, state law requires that this limit be presented to thc governing body of each entity each fiscal year; and WHEREAS, state law also requires that this limit be publishec in a newspaper of general circulation to allow public response to the limit a adopted. NOW, THEREFORE, BE IT RESOLVED by the City Council o the City of Carlsbad, California, as follows: 1. That the City Council of the City of Carlsbad, California does hereby amend and adopt the 1990-91 appropriation limit of fifty-twi million, seven hundred seventy-three thousand, six hundred and twenty-sevei dollars ($52,773,627) as computed in Exhibit A attached hereto. I 2. That the City Council of the City of Carlsbad, Californiz does hereby establish and adopt the 1991-92 appropriation limit of sixq four million, nine hundred seventy seven thousand, nine hundred and fort one dollars ($64,977,941) as computed in Exhibit B attached hereto. /// - *i L 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 0 e 3. That the City Clerk is directed to publish this Resolution in a newspaper of general circulation. PASSED, APPROVED AND ADOPTED at a regular meeting of , 1991, by the following the City Council on the 10th day of December vote, to wit: AYES: Council Members Lewis, Kulchin, Larson, Nygaard NOES: None ABSENT: None ATTEST: lkQLtL /.e- (SEAL) ALETHA L. RAUTENKRANZ, City Clerk - *1 6 0 0 ExHLBr GA" APPROPRIATIONS LIMIT - CITY OF CARISBAD - The Appropriations Limitation imposed by Proposition 4 and modified by Proposition 1 creates a restriction on the amount of revenue which can be appropriated in any fisc yea. The revenues which are subject to the Limitation are those considered "proceeds taxes." The basis for calculating the Limit began in fiscal year 1978-79 and is increas based on population growth and inflation. The major change made by Proposition 11 1 is to provide the City the option of selecti factors which will maximize the City's calculated limit. Prior to Proposition 111, I calculation was based upon the lesser of either the California per capita income or 1 United States CPI. Proposition 111 now allows the City to annually choose among 1 following options: - Growth in California per capita income, OR Growth in non-residential assessed valuation due to new construction in 1 City. AND - Population growth, of Carlsbad, OR Population growth within San Diego County. - The Proposition included provisions for City's to recalculate their 1990-91 Limit beca . the passage and subsequent interpretation of this legislation was so late in the year. SI has calculated an amended Gann Limit for 1990-91 using 1986-87 as the base year and new factors. In order to maximize the City's Limit, the following calculation factors w selected: Population growth in Carlsbad, AND - Carlsbad's growth in non-residential new construction. 2 X h 1 b t't .+ *i 7 0 0 The formula is outlined below: 1989-90 Expenditure Limit $ 45,797,023 % Carlsbad Population Growth 1.0243 % Non-Resid. New Construction X 1.1250 Net Increase Factor 1.1523 1990-91 Limit (1989-90 Limit X Factor) $52.773.627 1990-91 Appropriation of Proceeds of Taxes $ 31,723,423 The spending limit for the City of Carlsbad for 1990-91 is $52,773,627, M appropriations of "proceeds of taxes" of $31,723,423. The result of the calculat provides the City with a comfortable operating margin. Carlsbad also needs to amend the Gam Limit for 1991-92 because the Carlsbad Munic Water District should be segregated fiom the City's calculation. Additionally, the fac used to calculate the 1991-92 Limit need to be changed. The factors used to calculate 1991-92 Limit were: - Population gr0wth.h San Diego County, AND Carlsbad's growth in non-residential new construction. - The formula is outlined below: 1990-91 Expenditure Limit $ 52,773,627 % County Population Growth 1.0306 Yo Non-Resid. New Construction X 1.1947 Net Increase Factor 1.2313 $ 64.977.941 $ 34,351,889 1991-92 Limit (1989-90 Limit X Factor) Current Appropriation of Proceeds of Taxes The spending limit for the City of Carlsbad for 1991-92 is $64,977,941 with approprial of "proceeds of taxes" of $34,351,889. The result of the calculation provides the City a comfortable and increasing operating margin of $30.6 million. The area chart on the following page graphically depicts the growing operating m: within Carlsbad. As can be seen, Proposition 11 1 dramatically increased the amount u can be appropriated from taxes. de*:& e e ‘1 CITY OF CARLSBAD PROPOSITION 4 SPENDING LIMIT VS. APPROPRIATION OF PROCEEDS OF TAXE MILLIONS OF DOLLARS 9; FISCAL YEAR MAPPROP OF TAXES SPENDING LIMIT