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. 

 

 

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