| Page 15 Financial Impact Statement Date: June 4/02 Project Name: First Year of Program 2002 Proposed Acquisition of 24.5 Acres of Environmentally Sensitive Land Under Proposed Plan of Subdivision DASZ 19/00 (Bois des Esprits) 2002 Capital Capital Expenditures Required $ - $ - $ - $ - $ -Less: Existing Budgeted Costs - - - - -Additional Capital Budget Required $ - $ - $ - $ - $ - Funding Sources: Debt - Internal $ - $ - $ - $ - $ -Debt - External - - - - -Grants (Enter Description Here) - - - - -Reserves, Equity, Surplus - - - - -Other - Enter Description Here - - - - - Total Funding $ - $ - $ - $ - $ - Total Additional Capital Budget Required $ - Total Additional Debt Required $ - Current Expenditures/Revenues Direct Costs $ 50,000 $ - $ - $ - $ -Less: Incremental Revenue/Recovery - - - - -Net Cost/(Benefit) $ 50,000 $ - $ - $ - $ -Less: Existing Budget Amounts - - - - -Net Budget Adjustment Required $ 50,000 $ - $ - $ - $ - Additional Comments: The above-noted costs are required to conduct a traffic and environmental impact assessment, for which an additional appropriation is required. The report also discloses, that at an acquisition cost of $65,000 per acre, total costs of acquiring this treestand would be $1.6 million (land acquisition plus incidentals). A complete Financial Impact Statement will be provided with a subsequent report. This land acquisitioin was not included in any existing budgets. Until the sources of financing have been finalized, it will not be possible to estimate all financial impacts. Financing sources investigated to date include a combination of the use of an additional appropriation, reserve funds, a capital account, the waiving of development fees and the exchange of lands. All of these options involve differing impacts on the City's budgets. Gord Courage, Manager Support Services Division |