The URL can be used to link to this page

Home My WebLink AboutCC AG PKT 2011-07-11 #DAGENDA STAFF REPORT DATE: July 11, 2011 TO: Honorable Mayor and Members of the City Council THRU: Jill R. Ingram, City Manager ,FROM: Robbeyn Bird, CPA Director of Administrative Services /City Treasurer SUBJECT: ANNUAL SPECIAL TAX FOR COMMUNITY FACILITIES DISTRICT NO. 2002 -01 "HERON POINTE" SUMMARY OF REQUEST: That the City Council adopt Resolution No. 6157 approving the fiscal year 2011- 2012 special tax levy for Community Facilities District No. 2002 -01 "Heron Pointe ". BACKGROUND AND ANALYSIS: On September 23, 2002, the City Council approved the establishment of Community Facilities District 2002 -01 known as Heron Pointe ( "the District ") and approved Ordinance No. 1490 authorizing the levy of Special Taxes within the District. However, the development was faced with various delays related to the discovery of a Native American burial site within the District's boundaries. As a result, final Coastal Commission approval was not received until July 2005. Immediately upon receipt of final approval, the City issued $3,985,000 of CFD Bonds to fund the cost of various improvements within the District. The City contracted with Willdan & Associates to calculate special taxes for the District for fiscal year 2011 -2012. The special taxes collected are considered special revenue. Special revenue sources are legally restricted to specific purposes. As a result, this special tax is not included in general fund revenues. The Special Taxes will satisfy debt service payments for the Bonds. The method of assessment for the Special Taxes is described in the Amended Rate and Method of Apportionment section of the CFD Report prepared by Taussig and Associates and submitted to the City Council on January 12, 2004. The method of assessment defines two primary categories of property: Developed Property and Undeveloped Property. The category of Developed Property is further divided into five separate special tax classifications that vary with land use (e.g. residential and non - residential) and floor area (in square feet). The fiscal year Agenda Item Q Page 2 2011 -2012 maximum and actual Special Taxes per Unit/Acre are listed as follows: Community Facilities District No. 2002 -01 Fiscal Year 2011 -2012 Special Taxes for Developed and Undeveloped Property Tax Class Description Residential Floor Area Assigned /Maximum Special Tax per Unit/Acre FY 2011 -2012 Actual Special Tax per UnitlAcre 1 Residential > 4,000 SF $6,393.75 $3,301.80 2 Residential 3,750 — 3,999 SF $6,068.68 $3,133.94 3 Residential 3,500 — 3,749 SF $5,855.95 $3,024.08 4 Residential < 3,500 SF $5,461.57 $0.00 5 Non - Residential NA $50,166.40 $0.00 NA Undeveloped NA $56,220.74 $0.00 Exhibit A of the resolution shows the fiscal year 2011 -2012 special tax levy for each parcel being taxed. Total expenditures for 2011 -2012 are estimated at $282,010. This estimate includes debt service payments of $261,169 and administrative expenses of $20,841. Total revenues from the special tax are estimated at $202,010 for fiscal year 2011 -2012. A credit of $80,000 will be applied to the levy this year using surplus funds. FISCAL IMPACT: There is no fiscal impact to the General Fund. RECOMMENDATION: Staff recommends that the City Council adopt Resolution No. 6157 authorizing the 2011 -2012 annual special taxes for the Communities Facilities District No. 2002 -01. SUBMITTED BY: NOTED AND APPROVED: /—\� 1 11 Robbeyn Bird, CPA 9i1jR. Ingram, City M4nager Director of Administrative Services/ City Treasurer Attachment: A. Resolution No. 6157 RESOLUTION NUMBER 6157 A RESOLUTION OF THE SEAL BEACH CITY COUNCIL APPROVING THE FISCAL YEAR 2011 -2012 ANNUAL SPECIAL TAX LEVY FOR COMMUNITY FACILITIES DISTRICT NO. 2002- 01 (HERON POINTE) WHEREAS, the City Council of the CITY OF SEAL BEACH (the "City "), has initiated proceedings, held a public hearing, conducted an election and received a favorable vote from the qualified electors relating to the levy of a special tax in the City's Community Facilities District No. 2002 -01 (Heron Pointe) (the "District "), all as authorized pursuant to the terms and provisions of the "Mello - Roos Community Facilities Act of 1982 ", being Chapter 2.5, Part 1, Division 2, Title 5 of the Government Code of the State of California. WHEREAS, the City Council, by Ordinance as authorized by Section 53340 of the Government Code of the State of California, has authorized the levy of a special tax to pay for costs and expenses related to said District. WHEREAS, the City Council desires to establish the specific rate of the special tax to be collected for the next fiscal year. NOW, THEREFORE, IT IS HEREBY RESOLVED AS FOLLOWS: SECTION 1. That the above recitals are all true and correct. SECTION 2. That the special tax rates for each tax category to be used to generate special tax revenues, which will be collected to pay for the costs and expenses for the next fiscal year (2011 -2012) for the District, is hereby determined and established as set forth in the attached, referenced and incorporated Exhibit "A ". SECTION 3. That the rate as set forth above does not exceed the amount as previously authorized by Ordinance of the City Council, and is not in excess of that as previously approved by the qualified electors of the District. SECTION 4. The special tax shall be collected in the same manner as ordinary ad valorem property taxes are collected, and shall be subject to the same penalties and same procedure and sale in cases of any delinquency for ad valorem taxes, and the Tax Collector is hereby authorized to deduct reasonable administrative costs incurred in collecting any said special tax. SECTION 5. All monies above collected shall be paid into the District funds. SECTION 6. The Auditor of the County is hereby directed to enter in the next County assessment roll on which taxes will become due, opposite each lot or parcel of land effected in a space marked "public improvements, special tax" or by any other suitable designation, the installment of the special tax, and for the exact rate and amount of said tax, reference is made to the attached Exhibit "A ". SECTION 7. The County Auditor shall then, at the close of the tax collection period, promptly render to the City a detailed report showing the amount and /or amounts of such special tax installments, interest, penalties and percentages so collected and from what property collected, and also provide a statement of any percentages retained for the expense of making any such collection. SECTION 8. Special Taxes are to be levied on all non - exempt parcels within the District. Should it be discovered that any taxable parcels are not submitted to the County Auditor for inclusion into the 2011 -2012 Tax Roll subsequent to the submittal deadline of August 10, 2011, the City Council directs the City of Seal Resolution Number 6157 Beach staff or their agents to bill such parcels directly via U.S. mail using the rates as approved in Exhibit "A ". PASSED, APPROVED AND ADOPTED by the Seal Beach City Council, at a regular meeting held on the 11th day of July , 2011 by the following vote: AYES: Council Members NOES: Council Members ABSENT: Council Members ABSTAIN: Council Members Mayor ATTEST: City Clerk STATE OF CALIFORNIA } COUNTY OF ORANGE } SS CITY OF SEAL BEACH } I, Linda Devine, City Clerk of the City of Seal Beach, do hereby certify that the foregoing resolution is the original copy of Resolution Number 6157 on file in the office of the City Clerk, passed, approved, and adopted by the City Council at a regular meeting held on the 11th day of July , 2011. City Clerk Resolution Number 6157 Exhibit "A" City of Seal Beach CFD' No. 2002 -01 FY 2011 -2012 Special Tax Levy Assessor's FY 2011 - Parcel 2012 Number Special Tax 199- 201 -01 $3,133.94 199 - 201 -02 $3,024.08 199 - 201 -03 $3,301.80 199 - 201 -04 $3,024.08 199- 201 -05 $3,133.94 199 - 201 -06 $3,301.80 199- 201 -07 $3,133.94 199 - 201 -08 $3,301.80 199 - 201 -09 $3,024.08 199 - 201 -12 $3,301.80 199 - 201 -13 $3,024.08 199 - 201 -14 $3,133.94 199 - 201 -15 $3,024.08 199 - 201 -16 $3,301.80 199 - 201 -17 $3,024.08 199 - 201 -18 $3,301.80 199 - 201 -19 $3,024.08 199 - 201 -20 $3,301.80 199 - 201 -21 $3,133.94 199 - 201 -22 $3,301.80 199 - 201 -23 $3,133.94 199 - 201 -24 $3,133.94 199 - 201 -25 $3,133.94 199 - 201 -26 $3,024.08 199 - 201 -27 $3,301.80 199 - 201 -28 $3,024.08 199 - 201 -29 $3,133.94 199 - 201 -30 $3,301.80 199- 201 -31 $3,133.94 199- 201 -36 $3,133.94 199 - 201 -37 $3,024.08 199 - 201 -38 $3,301.80 Assessor's FY 2011- Parcel 2012 Number Special Tax 199 - 201 -39 $3,024.08 199- 201 -40 $3,133.94 199 - 201 -41 $3,024.08 199- 201 -42 $3,133.94 199 - 201 -43 $3,024.08 199 - 201 -44 $3,301.80 199- 201 -45 $3,133.94 199 - 201 -46 $3,301.80 199- 201 -47 $3,133.94 199 - 201 -48 $3,024.08 199 - 201 -49 $3,133.94 199 - 201 -50 $3,024.08 199 - 201 -51 $3,301.80 199 - 201 -52 $3,133.94 199 - 201 -53 $3,301.80 199- 201 -54 $3,133.94 199 - 201 -55 $3,301.80 199- 201 -56 $3,133.94 199 - 201 -57 $3,301.80 199- 201 -58 $3,133.94 199 - 201 -59 $3,024.08 199- 201 -60 $3,133.94 199 - 201 -61 $3,301.80 199 - 201 -62 $3,301.80 199 - 201 -63 $3,024.08 199- 201 -64 $3,133.94 199 - 201 -65 $3,024.08 199 - 201 -66 $3,301.80 199 - 201 -67 $3,024.08 199- 201 -68 $3,133.94 199- 201 -69 $3,133.94 199 - 201 -70 $3,301.80 Total FY 2011 -2012 Special Tax $202,009.88 Total Number of Parcels Taxed 64