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Home My WebLink AboutCC AG PKT 2014-07-14 #D10 <, 22 DATE: July 14, 2014 TO: Honorable Mayor and City Council THRU: Jill R. Ingram, City Manager FROM: Victoria L. Beatley, Director of Finance/City Treasurer W-31 i ri1WIIIIIII IM, k, a 9 Iff I M: J: to] M FACILITIES DISTRICT NO. 2002-01 "HERON POINTE" SUMMARY OF REQUEST: That the City Council adopt Resolution No. 6482 approving the Fiscal Year 2014- 2015 special tax levy for Community Facilities District No. 2002-01 "Heron Pointe". On September 23, 2002, the City 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 Financial Services to calculate special taxes for the District for Fiscal Year 2014-2015. 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 the General Fund revenues. The special taxes will satisfy debt service on 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 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 2014-2015 maximum and actual special taxes per Unit/Acre are listed as follows: Agenda Item Q Community Facilities District No. 2002-01 Fiscal Year 2014-2015 Special Taxes for Developed and Undeveloped Property Tax Class Description Residential Floor Area Assigned/Maximum Special Tax per Unit/Acre FY 2014-2015 Actual Special Tax per Unit/Acre 1 Residential ?: 4,000 SF $6,521.62 $4,738.70 2 Residential 3,750 — 3,999 SF $6,190.05 $4,497.78 3 Residential 3,500 — 3,749 SF $5,973.07 $4,340.12 4 Residential < 3,500 SF $5,570.80 $0.00 5 Non-Residential NA $51,169.73 $0.00 NA I Undeveloped NA $57,345.15 $0.00 Exhibit A of the resolution shows the Fiscal Year 2014-2015 special tax levy for each parcel being taxed. Total expenditures for 2014-2015 are estimated at $289,922. This estimate includes debt service payments of $269,986 and administrative expenses of $19,936. Total revenues from the special tax are estimated at $289,922 for Fiscal Year 2014-2015. No credit will be applied to the levy this year. There is no environmental impact related to this item. LEGAL ANALYSIS: No legal analysis is required for this item. J;j I kN F-j k, [s] rm q I J, There is no financial impact. I aX4co m"T I= in, ffa KOM That the City Council adopt Resolution No. 6482 authorizing the 2014-2015 annual special taxes for the Communities Facilities District No. 2002-01. 01 - ti Attachment: A. Resolution No. 6482 I R. Ingram, lt� RESOLUTION NUMBER 6482 A RESOLUTION OF THE SEAL BEACH CITY COUNCIL APPROVING THE FISCAL YEAR 2014-2016 ANNUAL SPECIAL TAX LEVY FOR COMMUNITY FACILITIES DISTRICT N@- 2002- 01 (HERON POVNTE) 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 ^0stdct^), all as authorized pursuant to the terms and provisions of the "Mello- Roos Community Facilities Act of1882^. being Chapter 2.5, Part 1, Division 2, Title 5of the Government Code of the State ofCalifornia; and WHEREAS, the City Council, by Ordinance oaauthorized by Section 53340 of the Government Code of the State of California, has authorized the levy of special tax to pay for costs and expenses related to said District; and WHEREAS, the City Council desires to establish the specific rate of the special tax hobe collected for the next fiscal year. THE SEAL BEACH CITY COUNCIL DOES HEREBY RESOLVE: Section 1. That the above recitals are all true and correct. Section 2That the special tax rates for each tax category to ha used togenerate special tax revenues, which will becollected to pay for the costs and expenses for the next fiscal year (2D14-2O15) for the Disthct, 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 ofthe District. Section 4. The special tax shall be collected in the same manner aoordinary 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 imhereby authorized to deduct reasonable administrative costs incurred in collecting any said special tax. Section 5. All monies above collected shall ba paid into the District funds. Section G. The County Auditor is hereby directed to enter in the next County assessment roll on which taxes will become due, opposite each lot orparcel of land effected in anpoma marked "public improvements, special tax" orbyany other suitable designation, the installment of the special tax, and for the exact rate and amount uf said tax, reference ia made tothe attached Exhibit "K. Section 7. The County Auditor shall then, at the close of the tax collection period, promptly render ho the City adedai|ed report showing the amount and/or amounts of such special tax instmUmente, interest, penalties and percentages so collected and from what property coUeded, and also provide a statement of any percentages retained for the expense Vf making any such collection. Section 8. Special taxes are bm 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 2014'2015 Tax Roll subsequent to the submittal deadline of August 10. 2014. the City Council directs the City of Seal Beach staff or their agents to bill such parcels directly via U.S. mail using the rates as approved in Exhibit ''A". Resolution Number 6482 PASSED, APPROVED and ADOPTED by the 8eo| Beach City Council at regular meeting held mnthe _14thL_ day uf July L_.2O14by the following vote: AYES: Council Members ABSTAIN: Council Members Mayor EMMA" City Clerk STATE OF CALIFORNIA } COUNTY OFORANGE SS CITY OFSEAL BEACH } |. Linda Devine, City Clerk of the City of Seal Beauh, do hereby certify that the foregoing resolution im the original copy of Resolution Number 6%%2on file in the office of the City Clerk, passed, approved, and adopted by the City Council at a regular meeting held mn the __14th___ day of__�b July __.2O14. Exhibit "A" City mf Seal Beach CFD No. 2002-01 FY 2014-2016 Special Tax Levy Assessor's FY14- 8 Assessor's FYI 4- 8 Parcel Number Special Tax Parcel Number Special Tax 199-201-01 $4,497.78 199-201-66 4,738.70 188'201-02 4.340.12 188'201-87 4.340.12 199-201'03 4.738J0 190-201-68 4.49778 189-201-04 4.340.12 199-201-37 4.340.12 199-201-05 4.48778 199-201-38 4.738.70 199'201-86 4.73870 199-201-39 4.340.12 199-201-07 4.497.78 189-201-40 4.49778 198'201^08 4.738J0 188'201-41 4.340,12 189-201-09 4.340A2 189-201~42 4.497.78 199-201-12 4.73870 198-201-43 4.340,12 199-201-13 4.340.12 199-201-44 4.738.70 199-201-14 4.487.78 189-201-45 4.497.78 189-201-15 4.340A2 180-201-48 4.738.70 189'201-16 4.738.70 108'201-47 4.497.78 188-201-17 4.340A2 199-201-48 4.340.12 199-201-18 4'738.70 199-201-49 4,487.78 109-201'18 4.340.12 199-201-50 4.340.12 109-201-20 4.738.70 199-201-51 4.738.70 109'201-21 4.497.78 198-201-52 4.497.78 189'201-22 4.73830 108-201-53 4.738.70 108-201-23 4.487.78 199-201'54 4.497.78 199-201-24 4.497.78 199-201'55 4.73830 199-201-25 4.49778 199-201-56 4.497.78 199-201-26 4,340.12 199-201-57 4.73870 198'201-27 4.738.70 189-201'58 4.487.78 199-201-28 4.340.12 198'201-59 4.340.12 189-201-29 4.497.78 198'201'60 4.497,78 199-201'30 4.738.70 199-201'81 4.738.70 199-201-31 4.497.78 199-201-62 4.73870 199-201-36 4.497.78 189-201-83 4.340.12 109-201-64 4.497.78 199-281-89 4.497.78 109-201-65 4.340,12 189-201-70 4.738.70 Total FY2814-2016Special Tax $ 288,921.70 Total Number mf Parcels Taxed 64