Attachment “C”
ACE Budget for Round 7 (FY 2006-07) Applicant Pool
Net 2006-07 appropriation to ACE $ 1,387,543.00
Net Carryover from 2005-06 ACE Funds 93,041.00
ACE funds available for acquiring easements $ 1,480,584.00
+ Preservation Trust Funds grant 565,000.00
+ Office of Farmland Preservation grant >300,000.00
Net funds available for acquiring easements $ 2,345,584.00
Option #1 - Cost of Acquiring Strawberry Hill & Clayton Easements
Acquisition Costs Before Income Adjustment $ 2,559,640.00
Acquisition Costs After Income Adjustment $ 2,345,584.00
Funds Available for Acquiring 2006-07 Easements 2,345,584.00
Net Balance for two 2006-07 Easements $ 0.00
Option #2 - Cost of Acquiring Strawberry Hill & Clayton Easements
Acquisition Costs Before Income Adjustment $ 2,559,640.00
Acquisition Costs After Income Adjustment $ 2,559,640.00
Funds Available for Acquiring 2006-07 Easements 2,345,584.00
Net Balance for two 2006-07 Easements (-$ 214,056.00)
Option #3 - Cost of Acquiring Seven ACE Easements from Round 7
Acquisition Costs Before Income Adjustment $ 5,103,140.00
Acquisition Costs After Income Adjustment $ 4,480,940.00
Funds Available for Acquiring 2006-07 Easements 2,345,584.00
Net Balance for Seven 2006-07 Easements (-$ 2,135,356.00)
Notes:
“Acquisition Costs after Income Adjustments” shows the actual cost
of acquiring easements after applying the income grid (in the ACE ordinance). For landowners making less than $55,000/year in adjusted gross income, the County pays 100% of easement value. For those making more than $55,000/year, the County pays an “adjusted” value that is less than 100% of easement value. Since the top two easements are from landowners making less than $55,000/year, no adjustments were necessary.