HomeMy WebLinkAbout0013_1_Staff Report ROI for 2015-1
REPORT TO CITY COUNCIL
TO: HONORABLE MAYOR
AND MEMBERS OF THE CITY COUNCIL
FROM:
GRANT YATES
CITY MANAGER
DATE:
MARCH 8, 2016
SUBJECT:
INTENTION TO FORM COMMUNITY FACILITIES DISTRICT
No. 2015-1 (SAFETY SERVICES) OF THE CITY OF LAKE ELSINORE
Recommendation
It is recommended that City Council adopt Resolution No. 2016-___, a Resolution of the
City Council of the City of Lake Elsinore declaring its intention to establish Community
Facilities District 20 15-1 (Safety Services), to authorize the Levy of a Special Tax on
property within the District to pay the costs of providing public safety services.
Background
The developers, Terracina Investors, LLC, property owner of one residential tract
containing 452 proposed lots within the City (TR 36557) and Pardee Homes the owner of
one residential tract containing 74 proposed lots within the City (TR 36682) have
requested that the City assist them in forming a community facilities district (the “CFD”)
to finance the costs of providing public safety services through the levy of a special tax.
Additionally, the CFD has designated certain areas for future annexations into the CFD
should additional landowners wish to annex to the CFD.
The landowners have requested the City that the area described in Exhibit A of the
Resolution of Intention be the boundaries of the CFD and that a rate and method of
apportionment of the special taxes to be levied as described in Exhibit B.
The Resolution of Intention is the first step in the process of forming the CFD. A public
hearing on the matter will take place on April 12, 2016, and at that time the Council wil l
formally consider approval to form the CFD and hold an election on the approval of the
special taxes within the CFD.
Two small assessors’ parcels (the “HOA Lots”) that are part of the Pardee property are
currently in CFD 2003-1 (Law Enforcement, Fire and Paramedic Services). These parcels
were intended to be HOA lots are now due to the realignment and grading of certain lots
also located in the proposed boundaries of both the CFD and CFD 2003-1. The Director
of Administrative Services will record of a notice of cancellation and cessation of special
tax levy of CFD 2003-1 on the HOA Lots contingent upon the formation of CFD 2015-1
and the authorization by the eligible voters thereof of the special tax for services.
Fiscal Impact
Pursuant to the rate and method of apportionment, establishes a maximum tax of
$685 per year for single family residential property and $419 per year for multi-family
residential property. The District will be required to annually levy special taxes on al l
of the taxable property within District in order to pay for the costs of the services and
administration of the CFD.
Prepared by: Jason Simpson
Director of Administrator Services
Approved by:
Grant Yates
City Manager
Attachments:
1. Resolution No. 2016-___ Resolution of Intention to form CFD 2015-1
2. Petition of Terracina Investors LLC
3. Petition of Pardee Homes