Del Mar hears Shores property fundraising update
Approves PACE program, takes shot at Google prize
More than $5.6 million has been raised in the effort to maintain the Del Mar Shores Park, it was announced at Monday’s City Council meeting.
The goal for the Friends of the Del Mar Parks is to come up with $8.5 million by November 2011. At that time, the city will have a balloon payment of more than $3 million due on its loan to buy the property.
Del Mar bought the land from the Del Mar Unified School District in 2005 to prevent it from being converted to commercial or residential properties.
Laura DeMarco, vice president of the committee, said it is important for newcomers to the city to know why this property is so valued. She said roughly 40 percent of Del Mar residents have moved in since the campaign started.
The campaign aims to keep this portion of land open for public use. Plans call for dedicated sports fields, a dog park and a community garden. For more information visit www.delmarshores.org.
PACE Program Adopted
Two weeks after the Solana Beach City Council adopted the CaliforniaFirst Property Assessed Clean Energy, or PACE, program, its neighbor to the south followed suit.
Del Mar property owners who wish to purchase energy-saving products for their homes, such as solar panels, water efficiency and insulation equipment, will soon be able to fund them through loans assessed on their property.
Starting this summer, purchases between $5,000 and $75,000 can be paid for through a 20-year lien on property tax bills. The interest rate is predicted to be between 6 percent and 8 percent, depending on market conditions.
The City Council first heard about the PACE program two weeks ago, but directed staff to research and confirm that costs to the city would be minimal.
The PACE program has already been endorsed by more than 100 cities in 14 California counties. For more information, visit www.californiafirst.org.
Google Del Mar
It might be a long shot, but Del Mar is hoping for some luck in Google’s search for a test area for its ultra-high speed fiber network that will provide Internet service up to 100 times faster than what is available today.
Cities across America are applying to be one of Google’s selections for this operation. The Internet giant is looking for a metropolitan region with a population between 50,000 and 500,000 people.
Therefore, it is unlikely Del Mar, with roughly 5,000 people, would be selected on its own. The city is hoping to team up with neighboring cities Encinitas, Carlsbad and Solana Beach to become more attractive to Google.
A city memorandum says Del Mar “has a high-tech savvy, affluent, and educated population that would appreciate the potential technical advantages that Google’s high-speed fiber optic data communications capability has to offer.”
The company will announce its selected location later this year, and the memo says Del Mar will have no financial obligation if Google were to select the city.
- Shores fundraising not over yet
- DM council seeks ways to retire Shores property loan
- Solana Beach adopts state PACE program
- Council to negotiate Shores property lease extension with school district
- City Council agrees to negotiate Shores property lease extension
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