HomeMy WebLinkAbout2009-07-28 RDA Item No. 5CITY OF
LADE " LSINORE
DREAM EXTREME
REPORT TO REDEVELOPMENT AGENCY BOARD
TO: CHAIRMAN AND BOARD MEMBERS
FROM: ROBERT A. BRADY
EXECUTIVE DIRECTOR
DATE: JULY 28, 2009
SUBJECT: RESOLUTION CONFIRMING FISCAL YEAR 2009-10 SPECIAL TAXES
FOR CFD 90-2 (TUSCANY HILLS PUBLIC IMPROVEMENTS)
Background
The Redevelopment Agency (RDA) is required by the County of Riverside to provide
certified Resolutions to the Auditor/Controller's office each year to confirm special taxes
for the property tax roll.
Discussion
The City has seen a rise in the rate of special tax delinquencies and foreclosures due to
delinquencies. In order to make sure money is available to pay the required debt
service payment on the bonds, the CFD is authorized to increase the special tax by up
to 10%a on each parcel. Rates were increased 10% last year in anticipation of high
delinquency rates. The current special tax delinquency in the CFD stands at 12.9%.
Therefore, the special tax rates will continue to be levied with the additional 10% for
delinquencies.
This is the nineteenth year for special taxes on CFD 90-2. The total number of parcels
taxed within the CFD remained the same as last year (1,021 parcels). Total charges
increased by $33,813.34, from $1,830,481.30 to $1,864,294.64. The average increase
per parcel is approximately 2.0%. The increase is due to the increase in the debt
service payment on the bonds. Property owners will experience an average increase of
approximately $38.00 this year.
Fiscal Impact
There is no fiscal impact directly associated with this item. The RDA charges
administrative fees and an amount sufficient to cover direct costs as well as the bonded
debt services.
RDA July 28, 2009 Item No. 5
Page 1 of 6
Resolution Confirming FY 2009-10 Special Taxes for CFD 90-2
July 28, 2009
Page 2
Recommendation
Adopt a resolution requesting the Tax Collector of the County of Riverside to place
special taxes on the bills of certain properties for CFD 90-2
Prepared by: James R. Riley
Acting Director of dministrative Services
Approved by: Robert A. Brady
City Manager
RDA July 28, 2009 Item No. 5
Page 2 of 6
County Fund Number: 68-2364
RESOLUTION NO.
A RESOLUTION OF THE REDEVELOPMENT AGENCY OF
THE CITY OF LAKE ELSINORE, CALIFORNIA, REQUESTING
THE TAX COLLECTOR OF THE COUNTY OF RIVERSIDE TO
PLACE SPECIAL TAXES ON THE BILLS OF CERTAIN
PROPERTIES FOR CFD 90-2
WHEREAS, the Board of Directors of the Redevelopment Agency of the City
of Lake Elsinore, California (the "Agency"), has heretofore instituted and conducted
proceedings under the terms and provisions of the Mello-Roos Community Facilities Act of
1982 (the "Act"), being Chapter 25 of Part 1 of Division 2 of Title 5 (commencing at Section
53311) of the State of California Government Code for the acquisition and construction of
certain public works of improvements, togetherwith appurtenances and appurtenant work
in a special tax district designated as COMMUNITY FACILITIES DISTRICT NO. 90-2
(TUSCANY HILLS PUBLIC IMPROVEMENTS), hereinafter referred to as CFD 90-2; and
WHEREAS, in Agency Resolution RDA No. 90-6 adopted on October 24,
1990, the "Resolution of Intention"; Agency Resolution No. RDA 90-12 entitled "A
Resolution Declaring Results of Special Election and Directing Recording of Notice of
Special Tax Lien", adopted November 27,1990; and Agency Ordinance No. RDA 1 entitled
"An Ordinance of the Governing Board of the Redevelopment Agency of the City of Lake
Elsinore Levying Special Taxes Within the Redevelopment Agency of the City of Lake
Elsinore Community Facilities District No. 90-2 (Tuscany Hills Public Improvements)",
adopted December 11, 1990; and
WHEREAS, all special taxes in this district were levied without regard to
property valuation.
NOW, THEREFORE, the City Council of the City of Lake Elsinore, California,
does hereby resolve as follows:
SECTION 1. That the portion of the principal, interest and other costs related
to CFD 90-2 due or coming due through June 30, 2010, be placed on the County Tax Rolls
and be collected by the Riverside County Tax Collector, as provided for in Exhibit "A" (a
summary of fixed charges).
SECTION 2. That the properties to be so assessed and the related amounts
are submitted on CD as requested by the Riverside County Tax Collector, further identified
as County Fund No. 68-2364.
SECTION 3. This resolution shall take effect from and after the date of its
passage and adoption.
RDA July 28, 2009 Item No. 5
Page 1 of 3 Page 3 of 6
PASSED, APPROVED AND ADOPTED at a regular meeting of the City
Council of the City of Lake Elsinore, California, this 281h day of July, 2009 by the following
vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
ROBERT MAGEE
MAYOR
ATTEST:
DEBORA THOMSEN
CITY CLERK
APPROVED AS TO FORM:
BARBARA ZEID LEIBOLD
CITY ATTORNEY
Page 2 of 3 RDA l dy2ft@ 0flodNn. ®609-
Page 4 of 6
REDEVELOPMENT AGENCY OF THE
CITY OF LAKE ELSINORE
EXHIBIT 'W'
COMMUNITY FACILITIES DISTRICT 90-2
(TUSCANY HILLS PUBLIC IMPROVEMENTS)
SUMMARY OF FIXED CHARGES FOR TAX ROLL
FISCAL YEAR 2009-10
FUND NUMBER 68-2364
TOTAL PARCELS 1,021
TOTAL CHARGES $1,864,294.64
Page 3 of 3 RDA WoQk 109or1ftoi W05-
Page 5 of 6
County Fund Number: 68-2364
STATE OF CALIFORNIA
COUNTY OF RIVERSIDE SS
CITY OF LAKE ELSINORE
I, Debora Thomsen, Agency Secretary of the Redevelopment Agency of Lake
Elsinore, California, do hereby certify that the attached Resolution No. 2009- was duly
approved and adopted by the Redevelopment Agency at the regular meeting thereof held
on the 28th day of July, 2009. Attached is a true and correct copy of the original document
which is on file in my office.
EXECUTED this 29th day of July, 2009, at the Agency Secretary's office of Lake
Elsinore, California.
Debora Thomsen, CIVIC
Redevelopment Agency Secretary
City of Lake Elsinore, California
RDA July 28, 2009 Item No. 5
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