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Home My WebLink AboutCity Council Agenda Item No.15CITY OF LADE Cog LSIIYORE E�CTREME- REPORT TO CITY COUNCIL TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: THOMAS P. EVANS INTERIM CITY MANAGER DATE: NOVEMBER 13, 2012 SUBJECT: RESOLUTION DISSOLVING COMMUNITY FACILITIES DISTRICT NO. 2006 -10 (RIVERLAKE VILLAS) Recommendation It is recommended that City Council adopt a resolution dissolving CFD No. 2006 -10 (Riverlake Villas) and direct the City Clerk to record a Notice of Cessation of Special Tax on all parcels within the boundary of the district. Backaround On October 24, 2006, the City Council adopted a resolution approving a Deposit and Reimbursement Agreement; a resolution of intention to form Community Facilities District 2006 -10 (Riverlake Villas) (hereinafter the "CFD "); and a resolution of intention to incur bonded indebtedness to finance the facilities. On November 28, 2006, the City Council conducted a public hearing and special election for the formation of the CFD, which was approved by unanimous consent of the landowners within the boundaries of CFD. On July 20, 2012, the City received a petition signed by all property owners within CFD requesting that the CFD be dissolved. No bonds have been issued in this CFD. Discussion The property owner has remained the same since the districts formation and has requested that the CFD be dissolved. Given the downturn in the housing market and the fact that no development has occurred on the property, the CFD is currently not AGENDA ITEM NO. 15 Page 1 of 7 Resolution Dissolving CFD No. 2006 -10 November 13, 2012 Page 2 viable as structured. If the development were to move forward, City staff would require the CFD to be restructured, which would require a lengthy legal proceeding, to be paid for by the property owner. In addition, the City has incurred annual administrative expenses for this district, causing the annual CFD tax to be levied to cover those costs. The property owner wishes to reduce the tax burden on the property. The CFD also contains a services tax for the maintenance of public parks, open space and storm drain improvements. With the dissolution of the CFD, this services tax would be also be removed. In order to preserve this funding, the property owner has agreed to annex the property into CFD No. 2006 -5 (Parks, Open Space and Storm Drain Maintenance), which has the same tax rate for services. Fiscal Impact There is no fiscal impact directly associated with this item. Prepared by: James Rile Director o , f A inistrative Services Approved by: Thomas P. Evans / C Interim City Manage 11111f Attachment: Petition from Property Owner Page 2 of 7 RESOLUTION NO. 2012 -048 A RESOLUTION OF THE CITY OF LAKE ELSINORE RESOLUTION DISSOLVING COMMUNITY FACILITIES DISTRICT NO. 2006 -10 (RIVERLAKE VILLAS) WHEREAS, on October 24, 2006, the City Council adopted a resolution approving a Deposit and Reimbursement Agreement; a resolution of intention to form Community Facilities District 2006 -10 (Riverlake Villas) (hereinafter the "CFD "); and a resolution of intention to incur bonded indebtedness to finance the facilities, and WHEREAS, on November 28, 2006, the City Council conducted a public hearing and special election for the formation of the CFD, which was approved by unanimous consent of the landowners within the boundaries of CFD, and WHEREAS, on July 20, 2012, the City received a petition signed by all property owners within CFD requesting that the CFD be dissolved, and WHEREAS, no bonds have been issued in this CFD. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS: SECTION 1. City of Lake Elsinore Community Facilities District No. 2006 -10 (Riverlake Villas) is hereby dissolved under the provisions of the Mello -Roos Community Facilities Act of 1982, being Chapter 2.5 of Part I of Division 2 of title 5 (commencing with Section 53311) of the California Government Code. SECTION 2. Upon the effective date of this Resolution as provided in Section 3, the City Clerk is thereafter directed to record a Notice of Cessation of Special Tax on all parcels within the boundary of the CFD. SECTION 3. This Resolution shall take effect from and after the date all parcels within the boundaries of the CFD are annexed into City of Lake Elsinore Community Facilities District No. 2006 -5 (Parks, Open Space and Storm Drain Maintenance). PASSED, APPROVED AND ADOPTED this 13th day of November 2012, by the following vote: BRIAN TISDALE, MAYOR ATTEST: VIRGINIA BLOOM CITY CLERK BARBARA LEIBOLD CITY ATTORNEY Page 3 of 7 CITY OF LAKE ELSINORE CITY COUNCIL RESOLUTION NO. 2012 -048 Page 2 of 2 STATE OF CALIFORNIA COUNTY OF RIVERSIDE CITY OF LAKE ELSINORE I, Virginia Bloom, City Clerk of the City of Lake Elsinore, California, hereby certify that Resolution No. 2012 -048 was adopted by the City Council of the City of Lake Elsinore, California, at a regular meeting held on the 13th day of November 2012, and that the same was adopted by the following vote: AYES: NOES: ABSENT: ABSTAIN: VIRGINIA BLOOM CITY CLERK Page 4 of 7 TO: CITY COUNCIL OF THE CITY OF LAKE ELSINORE FROM: LANDOWNERS WITHIN CITY OF LAKE ELSINORE COMMUNITY FACILITIES DISTRICT NO. 2006 -10 (RIVERLAKE VILLAS) PETITION, CONSENT AND WAIVER The undersigned landowner does hereby certify under penalty of perjury that the following statements are all true and correct: 1. The undersigned are authorized to represent the landowner identified below and are its designated representatives to give the consent and waiver contained herein with respect to the City of Lake Elsinore Community Facilities District No. 2006 -10 (Riverlake Villas) (the "District') to be dissolved under the provisions of the "Mello -Roos Community Facilities Act of 1982" (the "Act'), being Chapter 2.5 of Part I of Division 2 of title 5 (commencing with Section 53311) of the California Government Code. 2. The undersigned hereby certify that as of the date indicated opposite their signatures, the landowner listed herein is the owner(s) of the property within the boundaries of the District described in Exhibit "A" hereto (the "Property"). 3. The undersigned expressly waives all notice requirements relating to hearings, whether by posting, publishing or mailing, and whether such requirements are found in the California Government Code or other laws or procedures. 4. The undersigned hereby consents to and expressly waives any and all claims based on any irregularity, error, mistake or departure from the provisions of the Act or other laws of the State and any and all laws and requirements incorporated therein, and no step or action in any proceeding relative to the District shall be invalidated or affected by any such irregularity, error, mistake or departure. IN WITNESS WHEREOF, I hereunto set my hand this . LD day of �_ 2012. RIVERLAKE VILLAS PARTNERS, L.P, a Calif is limited partnership N : 5PATHC�, ltr CAN ,L Pa �r By: mFir.D cv, r /f1 var. &J Z-^'f Name: FILED IN THE OFFICE OF THE CITY CLERK OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE THIS DAY OF 2012. City Clerk Page 5 of 7 EXHIBIT A BOUNDARIES OF LAKE ELSINORE COMMUNITY FACILITIES DISTRICT NO. 2006-10 (RIVERLAKE VILLAS) Page 6 of 7 PROPOSED BOUNDARY OF COMMUNITY FACILITIES DISTRICT No. 2006 -10 OF THE CITY OF LAKE ELSINORE (RIVERLAKE VILLAS) COUNTY OF RIVERSIDE, STATE OF CALIFORNIA SCALE: i *S ITE - PR a NaNM MAP NO s I FfsNO =.I MAD., �r _ Cgt{E ff ME Ory tlERk CF 1HE OIY Ci W(E fL4NUY iH15 3Q T AY q' R WS. N ..' ON LVtG F15WGNE I C NEREDY MA MA Sl MAl Ixf MMM Or 7 a PRCPOEF p q"ARlCS a CCMU'INir IA.. IDIWT xo. 10% -(0 (at(flVXC Y1L�S), ary Ci L6YE ¢ D SW1C a Cf @HASNE, TAlE CF WiIW.WA WAS A"'mm eY 1Nq "O'(A OY ME ON CF 1A 17 RSW . AT A REWIARIY MEETNG ] Oi`. xrindx Piz .i�L onr or �. 2Qts. er 11S xEmLUv xn. M an OF LANE ¢YY[AE 0' ¢s IX��AV 2006. -m M ruz �xnGUw a = im�.1 xo � Mss 5b7G ry ME a a T =NN N Oit F M W CPINn W MWR9 STATE OF CAiYORNiA mgm µ annR a WSAC WL1A[D- AsSBSO[.UflLC. , --7.06 flF{ER(NCE TNC RIW.W ODON]Y A nDN'S MAPS FCN A OETAaYfO IX 4F`TKW OE 1A LW AND DNENVON5 P ROPOSED BOUNDARY MAP COmwualty FWWtI.. RINWOt No. 200E -10 Of lh. City .1 Lek. Rleinore (Rirerleke VW.) COUOty Of Rt..Ide, WiforiDie HARRIS & ASSOCIATES v Nwn.. r«N, sMN iw M a aeu (1qj W -0YA a fY (W9) t4F]I W 9krot ] Or 1 oHVwa \oo am -w (nwvn w,JVmWro, oen Page 7 of 7