HomeMy WebLinkAbout2015-05-26 - AGENDA REPORTS - LEVY OF ASSMNT OPEN SPACE PRES (2)0
Agenda Item: 9
_ CITY OF SANTA CLARITA
'~ AGENDA REPORT
CONSENT CALENDAR
CITY MANAGER APPROVAL:
DATE: May 26, 2015
SUBJECT: ANNUAL LEVY OF ASSESSMENTS FOR OPEN SPACE
PRESERVATION DISTRICT
DEPARTMENT: Administrative Services
PRESENTER: Darin Seegmiller
RECOMMENDED ACTION
City Council:
Adopt a resolution initiating proceedings for the levy and collection of assessments within
the Open Space Preservation District for Fiscal Year 2015-16.
2. Adopt a resolution declaring the City's intention to levy assessments, preliminarily approve
an Engineer's Report in connection with the Open Space Preservation District for Fiscal Year
2015-16, and set a public hearing for June 9, 2015.
BACKGROUND
Creation of the Open Space Preservation District (District) was overwhelmingly approved by the
property owners of the City of Santa Clarita in July 2007. The primary objective of the District
is to facilitate the purchase and preservation of undeveloped land in and around the City of Santa
Clarita.
Since the formation of the District, 2,487 acres have been acquired using District funds, with
purchases leveraged with grant funds, land bank mitigation funds, or bridge and thoroughfare
funds. The City partners with a number of public entities including Santa Monica Mountains
Conservancy, Riverside Land Conservancy, The Trust for Public Land, County of Los Angeles,
and Mountains Recreation Conservation Authority.
During Fiscal Year (FY) 2014-15, the District funded acquisitions of another 589 acres of
dedicated open space in the Newhall Pass area. Further, during the coming operational year, the
District anticipates the acquisition of approximately 60 acres in Quigley Canyon and another 235
acres in the Newhall Pass. Overall, during the past three years, approximately $6 million has
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been used to fund significant land purchases, thereby depleting the available bond proceeds
As background, the District was created in a manner which provided the maximum financial
ability to facilitate the City's goal of acquiring open space properties to create a green belt
surrounding Santa Clarita. Based on the voter -approved ability to adjust the District -applied
assessment by $1 annually, debt service payments to service the District's bonds increase in cost
annually. By issuing "ascending debt," the City was able to borrow against future assessment
rate increases in order to maximize the size of the borrowing.
In FY 2014-15, the District's debt service totaled $823,851.26, while the proposed debt service
for FY 2015-16 totals $848,451.26. The annual debt servicing of the bond was structured to
allow these ascending costs to track, or be off -set, against the voter -approved annual adjustment
to the District's assessed levy. In consideration of how the District's debt service was structured.
recent and forecasted future property acquisitions, and increased personnel and operational costs
to manage the District, it is appropriate for the City Council to consider an adjustment to the
applied assessment. For FY 2015-I6, staff is recommending an adjustment in the amount of
$1.50 per equivalent benefit unit (EBU).as part of the annual levy of the District.
For background purposes, one (1) EBU is equal to one single-family home. This proposed
adjustment would increase the applied levy in FY 2015-16 from its current rate of $30 per EBU
to $31.50 per EBU. While the current maximum assessment for FY 2014-15 is $32 per EBU and
the authorized maximum assessment for FY 2015-I6 is $33 per EBU, the City Council has
maintained an applied assessment of $30 per EBU since July of 2012.
The process of ordering, approving, and setting the Public Hearing on the annual levy of the
District is required by the Landscaping and Lighting Act of 1972 and allows the City to continue
the levying assessments in FY 20 t5-16 for the purpose of acquiring open space properties. Upon
adoption of the attached resolutions, a Public Hearing on ordering the FY 2015-16 levies will be
scheduled for June 9, 2015.
ALTERNATIVE ACTIONS
Other direction as determined by City Council.
FISCAL IMPACT
Adequate funds for the preparation of these reports have been previously approved and
appropriated by the City Council as part of the FY 2014-15 Annual Budget process.
ATTACHMENTS
Open Space Preservation District FY 15-16 Initiate Resolution
Open Space Preservation District FY 15-16 Intent Resolution
Open Space Preservation District FY 15-16 Engineer's Report (available in the City Clerk's
reading file)
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RESOLUTION NO. 15-
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA CLARITA, CALIFORNIA,
INITIATING PROCEEDINGS FOR THE LEVY AND COLLECTION
OF ASSESSMENTS FOR ALL ZONES
WITHIN THE OPEN SPACE PRESERVATION DISTRICT
FOR FISCAL YEAR 2015-16
WHEREAS, the City Council of Santa Clarita, California, pursuant to the provisions of
the Landscaping and Lighting Act of 1972, being Division 15 of the Streets and Highways Code
of the State of California (Act), desires to initiate proceedings for the Open Space Preservation
District (District) and for the levy and collection of assessments within the proposed District for
Fiscal Year 2015-16, for the purposes provided therefore in the Act; and
WHEREAS, the City Council has retained Willdan Financial Services, for the purpose of
assisting with the Annual Levy of the District, and to prepare and file a report with the City
Clerk in accordance with the Act.
NOW, THEREFORE, the City Council of the City of Santa Clarita does hereby resolve
as follows:
SECTION I. Annual Levy Report: The City Council hereby directs Willdan Financial
Services, acting as Assessment Engineer, to prepare and file with the City Clerk the Assessment
Engineer's Annual Levy Report concerning the installation, construction, or maintenance of any
authorized improvements under the Act, and the levy and collection of assessments for the
District as required by the provisions of the Assessment Law.
SECTION 2. District Improvements: The installation, construction, or maintenance of
any authorized improvements under the Act, including, but not limited to landscape and
irrigation improvements and any facilities which are appurtenant to any of the aforementioned or
which are necessary or convenient for the maintenance or servicing thereof.
SECTION 3. The City Clerk shall certify to the adoption of this Resolution.
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PASSED, APPROVED, AND ADOPTED this 26th day of May 2015.
MAYOR
ATTEST:
CITY CLERK
Vi
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STATE OF CALIFORNIA 1
COUNTY OF LOS ANGELES ) ss. o
CITY OF SANTA CLARITA ) .7
1, Kevin Tonoian, City Clerk of the City of Santa Clarita, do hereby certify that the
foregoing Resolution was duly adopted by the City Council of the City of Santa Clarita at a
regular meeting thereof, held on the 26th day of May 2015, by the following vote:
AYES: COUNCILMEMBERS:
NOES: COUNCILMEMBERS:
ABSENT: COUNCILMEMBERS:
CITY CLERK
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RESOLUTION NO. 15-
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA CLARITA, CALIFORNIA,
DECLARING THE CITY'S INTENTION TO LEVY ASSESSMENTS.
PRELIMINARILY APPROVING AN ENGINEER'S REPORT IN CONNECTION
WITH THE OPEN SPACE PRESERVATION DISTRICT FOR FISCAL YEAR 2015-16
WHEREAS, under the provisions of the Landscaping and Lighting Act of 1972, being
Division 15 of the Streets and Highways Code of the State of Califomia (Act), the Open Space
Preservation District (District) was approved by the property owners in 2007; and
WHEREAS, the City Council of the City of Santa Clarita (City) is desirous to take
proceedings for the annual levy of assessments for Fiscal Year 2015-16 to provide for the costs
and expenses necessary to pay for the maintenance and servicing of the improvements in said
District; and
WHEREAS, the assessment rates are adequate to maintain and service the facilities: and
WHEREAS, in order to maintain and service the facilities at a standard acceptable to the
City, the assessments within the District will need to be levied for Fiscal Year 2015-16; and
WHEREAS, Proposition 218, the Right to Vote on Taxes Act, does hereby require if the
assessment rate is to be increased, a notice of the proposed assessment, along with a ballot, shall
be mailed to all owners of identified parcels within the Districts, and the agency shall conduct a
public hearing not less than 45 days after the mailing of said notice; and
WHEREAS, the assessments for Fiscal Year 2015-16 are not proposed to be increased
above the maximum levy of $33.00 per Benefit Unit; and
WHEREAS, staff is recommending approval of an applied levy of $31.50 per Benefit
Unit for Fiscal Year 2015-16; and
WHEREAS, notices and Assessment Ballots arc not required if assessments are not
increased above the maximum levy; and
WHEREAS, Willdan Financial Services has prepared a preliminary Engineer's Report
(Report) generally containing the following:
a. Plans and specifications describing the general nature, location, and extent of the
improvements to be maintained.
b. An estimate of the cost of the maintenance and/or servicing of the improvements for
the District for the referenced fiscal year.
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c. An assessment of the estimated costs of the maintenance and/or servicing, assessing
the net amount upon all assessable lots and/or parcels within the District in proportion
to the benefits received. That upon completion of the preparation of said Report, the
original shall be filed with the City Clerk, who shall then submit the same to this
legislative body for its immediate review and consideration.
WHEREAS, this City Council has examined and considered the Report, diagram, and
assessments, and the proceedings prior thereto.
NOW, THEREFORE, the City Council of the City of Santa Clarita does hereby resolve
as follows:
SECTION I. Recitals: That the above recitals are all true and correct.
SECTION 2. Declaration of Intention: That the public interest and convenience
requires, and it is the intention of this legislative body, to levy and collect assessments to pay the
annual costs and expenses for the installation, replacement, maintenance, and/or servicing of the
improvements for the above -referenced District. No new improvements or any substantial
changes in existing improvements are proposed as a part of these proceedings.
SECTION 3. Fiscal Year: That the assessments as above authorized and levied for
these proceedings will provide revenue and relate to the Fiscal Year commencing July 1, 2015,
and ending June 30, 2016.
SECTION 4. Preliminarily Approves Report: The City Council hereby finds each and
every part of the Engineer's Report is sufficient, and the City Council hereby preliminarily
approves, passes on, and adopts the Engineer's Report as submitted to the City Council and filed
with the City Clerk. The preliminary report shall stand as the Engineer's Report for the purposes
of all subsequent proceedings pursuant to this Resolution of Intention.
SECTION 5. District Improvements: The installation, construction, or maintenance of
any authorized improvements under the Act, including, but not limited to landscape and
irrigation improvements and any facilities which are appurtenant to any of the aforementioned,
or which are necessary or convenient for the maintenance or servicing thereof.
SECTION 6. Public Hearing: The City Council hereby appoints June 9, 2015, at
6:00 p.m., in the City of Santa Clarita, California as the time, place, and date of the Public
Hearing on the Report. At the hearing, the City Council shall hear and consider all discussion
regarding the proposed assessment as described in the Report.
SECTION 7. Adoption of Resolution: The City Clerk shall certify to the adoption of this
Resolution.
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PASSED, APPROVED, AND ADOPTED this 26th day of May 2015.
MAYOR
ATTEST:
CITY CLERK
DATE:
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STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss.
CITY OF SANTA CLARITA ' ) .2
I, Kevin Tonoian, City Clerk of the City of Santa Clarita, do hereby certify that the
foregoing Resolution was duly adopted by the City Council of the City of Santa Clarita at a
regular meeting thereof, held on the 26th day of May 2015, by the following vote:
AYES: COUNCILMEMBERS:
NOES: COUNCILMEMBERS:
ABSENT: COUNCILMEMBERS:
CITY CLERK
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City of Santa Clarlta
Engineer's Report
Open Space Preservation District
FISCAL YEAR 2015/2016
Intent
Meeting:
May
26,
2015
Public
Hearing:
June
09,
2015
Prepared on May 13, 2015
�WI LLDAN
Financial Services
CITY OF SANTA CLARITA
OPEN SPACE PRESERVATION DISTRICT
ENGINEER'S REPORT
CERTIFICATE
This Report describes the District including the improvements, budgets, parcels and
assessments to be levied for fiscal year 2015/2016, as they existed at the time of the passage
of the Resolution of Intention. Reference is hereby made to the Los Angeles County
Assessor's maps for a detailed description of the lines and dimensions of parcels within the
District. The undersigned respectfully submits the enclosed Report as directed by the City
Council.
Dated this day of
2015.
Willdan Financial Services
Assessment Engineer
Bv: Bv:
Stacee Reynolds Richard Kopecky
Sr. Project Manager, District Administration Services R. C. E. # 16742
I HEREBY CERTIFY
that the enclosed Engineer's Report,
together
with
Assessment
Roll and
Assessment Diagram
thereto attached was filed with me on
the day
of ,
2015.
By:
Kevin Tonoian, City Clerk
City of Santa Clarita
Los Angeles County, California
I HEREBY CERTIFY that the enclosed Engineer's Report, together with Assessment Roll and
Assessment Diagram thereto attached was approved and confirmed by the City Council of the
City of Santa Clarita, California, on the day of , 2015.
By:
Kevin Tonoian, City Clerk
City of Santa Clarita
Los Angeles County, California
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OVERVIEW................................................................................................................ 1
A.
BACKGROUND.............................................................................................................1
B.
EFFECTS OF PROPOSITION 218.................................................................................
1
A
PLANS AND SPECIFICATIONS....................................................................................
1
A.
IMPROVEMENTS AUTHORIZED BY THE 1972 ACT ....................................................
1
B.
DESCRIPTION OF IMPROVEMENTS TO BE MAINTAINED AND SERVICED
............. 3
///.
ESTIMATE OF COST...................................................................................................
4
/V
METHOD OFAPPORTIONMENT.............................................................................5
A.
GENERAL......................................................................................................................5
B.
REASON FOR THE ASSESSMENT..............................................................................
5
C.
SPECIAL BENEFIT ANALYSIS.....................................................................................
5
D.
SPECIAL BENEFIT DETERMINATION.........................................................................
6
E.
AREA OF BENEFIT.......................................................................................................
8
F.
GENERAL BENEFIT......................................................................................................
8
G.
SPECIAL BENEFIT METHODOLOGY...........................................................................
9
VASSESSMENT
ROLL.................................................................................................
15
M
ASSESSMENT DIAGRAM..........................................................................................
15
APPENDICES
1) Certificate of Participation (Open Space and Parkland Acquisition Program)
2) Open Space Acquisition Implementation Work Program
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/. OVERVIEW
A. BACKGROUND
Since the City of Santa Clarita's ("the City") incorporation in 1987, the City has made a
significant effort to preserve the greenbelts and undeveloped land within and outside the
City. This includes implementing the vision of the first and subsequent City Councils to
buffer the Santa Clarita Valley with a greenbelt to help maintain the character and
quality of life for residents. During the "The Big Picture' Community Strategic Planning
process in 2004, several open space goals were reaffirmed. Additionally, in 2007 a
number of community members spoke to the Council in support of preserving
undeveloped land and asked the Council to, once again, pursue the creation of a
mechanism to finance the acquisition and preservation of undeveloped land. In April
2007, the City Council adopted a resolution to initiate the formation of the City of Santa
Clarita Open Space Preservation District.
On August 13, 2014, LAFCO approved Annexation 2013-03 (North Saugus) to the City
of Santa Clarita. On October 14, 2014 LAFCO approved the boundary change of the
City of Santa Clarita to include the North Saugus area. Beginning in Fiscal Year
2015/16, parcels in Annexation 2013-03 are subjected to the Open Space Preservation
District Assessment.
B. EFFECTS OF PROPOSITION 218
On November 5 1996, the electorate approved Proposition 218, Right to Vote on Taxes
Act, which added Articles XIIIC and XIIID to the California Constitution. The Article XIIID
affects all assessments upon real property for a special benefit conferred on the
property. Assessments imposed under the Landscaping and Lighting Act of 1972 are
these types of benefit assessments.
The provisions of Proposition 218 can be summarized in four general areas:
1. Strengthens the general and special tax provisions of Propositions 13 and 62;
2. Extends the initiative process to all local taxes, assessments, fees and charges;
3. Adds substantive and procedural requirements to assessments; and
4. Adds substantive and procedural requirements to property -related fees and charges.
A PLANS AND SPECIFICATIONS
A. IMPROVEMENTS AUTHORIZED BY THE 1972 ACT
As applicable or may be applicable to this District, the 1972 Act defines improvements to
mean one or any combination of the following:
• The installation or planting of landscaping.
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• The installation or construction of statuary, fountains, and other ornamental
structures and facilities.
• The installation or construction of public lighting facilities, including, but not
limited to, traffic signals.
• The installation or construction of any facilities which are appurtenant to any of
the foregoing or which are necessary or convenient for the maintenance or
servicing thereof, including, but not limited to, grading, clearing, removal of
debris, the installation or construction of curbs, gutters, walls, sidewalks, or
paving, or water, irrigation, drainage, or electrical facilities.
• The installation of park or recreational improvements, including, but not limited
to, all of the following:
Land preparation, such as grading, leveling, cutting and filling, sod,
landscaping, irrigation systems, sidewalks, and drainage.
Lights, playground equipment, play courts, and public restrooms.
• The maintenance or servicing, or both, of any of the foregoing.
• The acquisition of land for park, recreational, or open -space purposes.
• The acquisition of any existing improvement otherwise authorized pursuant to
this section.
• Incidental expenses associated with the improvements include, but are not
limited to:
The cost of preparation of the report, including plans, specifications,
estimates, diagram, and assessment;
The costs of printing, advertising, and the publishing, posting and mailing
of notices;
Compensation payable to the County for collection of assessments;
Compensation of any engineer or attorney employed to render services;
Any other expenses incidental to the construction, installation, or
maintenance and servicing of the improvements;
Any expenses incidental to the issuance of bonds or notes pursuant to
Section 22662.5.
Costs associated with any elections held for the approval of a new or
increased assessment.
The 1972 Act defines "maintain" or "maintenance" to mean furnishing of services and
materials for the ordinary and usual maintenance, operation, and servicing of any
improvement, including:
• Repair, removal, or replacement of all or any part of any improvement.
• Providing for the life, growth, health, and beauty of landscaping, including
cultivation, irrigation, trimming, spraying, fertilizing, or treating for disease or
injury.
• The removal of trimmings, rubbish, debris, and other solid waste.
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The cleaning, sandblasting, and painting of walls and other improvements to
remove or cover graffiti.
B. DESCRIPTION OF IMPROVEMENTS TO BE MAINTAINED AND SERVICED
The Open Space Preservation District expands the City's existing Open Space, Park
and Parkland Program. This program preserves, improves, finances, services and
maintains facilities as described below.
It is the City Council's intent to utilize the additional funding from the Open Space
Preservation District to expand the existing Open Space, Park, and Parkland Program to
accelerate vacant land acquisition in and around the City in accordance with the
guidelines outlined in the Open Space Acquisition Implementation Work Program, which
is included herein and is provided in the Appendix.
The improvements are the acquisition, preservation, improvement, financing, servicing
and maintenance of parks, parkland and open space lands and appurtenant equipment
and facilities, including but not limited to, personnel, electrical energy, utilities such as
water, materials, contracting services, debt service costs, and other items necessary for
the satisfactory provision of these facilities and services.
Facilities include but are not limited to:
• Open Space Lands
• The Santa Clara River Watershed
Trail Systems
• Wildlife Corridors
• Park and Recreation Facilities and Equipment
Maintenance means the furnishing of services and materials for the ordinary and usual
maintenance, operation, preservation and servicing, including repair, removal or
replacement of all or part of any of the park, parklands and open space lands or
appurtenant equipment or facilities; providing for the life, growth, health and beauty of
the landscaping, including cultivation, irrigation, trimming, spraying, fertilizing and
treating for disease or injury; the removal of trimmings, rubbish, debris and other solid
waste; brush clearing; and the cleaning, sandblasting, and painting of walls and other
improvements to remove or cover graffiti.
Servicing means the furnishing of water for the irrigation and the furnishing of electric
current or energy, gas or other illuminating agent for the operation of the park, parklands
and open space lands or appurtenant equipment or facilities.
The City financed a portion of the facilities through the issuance of bonded
indebtedness.
The plans and specifications for the improvements, showing the general nature, location
and the extent of the facilities, are on file in the City Parks, Recreation and Community
Services Department and are by reference herein made a part of this report.
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///. ESTIMATE OF COST
The City's budget for the Open Space, Park, and Parkland Program, shown below, details the
estimated costs for Fiscal Year 2015/2016 as available at the time of preparation of this report.
The 1972 Act provides that the total cost of the construction, acquisition, preservation,
improvement, servicing and maintenance, together with incidental expenses, may be financed
from the assessment proceeds. The incidental expenses may include engineering fees, legal
fees, printing, mailing, postage, publishing, and all other related costs identified with the district
proceedings.
Open Space, Park, and Parkland Program $7,3901549
Expansion of the Program through the Preservation District 2,294,410
Less General Benefit Contribution (71.98%) (6,971,234)
Budget for Expansion of the Program through the Open Space Preservation District
Resources:
Beginning Bond Net Proceeds - Acquisition Reserve $0
Beginning Land Acquisition Reserve (Beginning Fund Balance FY 15/16) 61490,932
Other Revenue (interest, etc) 12,892
Total Resources: $6503824
Uses:
Administration $499,059
Bond Debt Service 848,451
Capital Projects (T4005: Haskell Canyon Open Space Access Improvements) 100,000
Bond Debt Service Reserve 11433,298
Estimated Land Acquisition Costs (2,147,001)
Operating Reserve Per Section 22569(a) 723,755
Ending Land Acquisition Reserve (Ending Fund Balance FY 15/16) 7,340,672
Note:
(1) Detailed estimated costs of components of the Program are available in the Parks Recreation and Community Services
Department and are incorporated herein by this reference.
(2) Under the Preservation District, the total estimated cost of the Improvements to be funded by the Preservation District is greater
than the amount that can be conveniently raised from a single annual assessment. The City is authorized to determine such costs
of one or more Improvements, including related debt service, to be collected in installments over a period not to exceed thirty (30)
fiscal years from its initial funding, as provided in the annual Engineer's Report. On December 12, 2007, the City executed and
delivered $15,525,000 Certificates of Participation (Open Space and Parkland Acquisition Program) 2007 Series (the "Certificates")
to fund such Improvements and the assessments from the Preservation District were pledged to make debt service payments on
the Certificates. The debt service schedule is attached hereto as Appendix 1.
The 1972 Act requires that a special fund be set-up for the revenues and expenditures of the
District. Funds raised by assessment shall be used only for the purpose as stated herein. The
City may advance funds or incur bonded indebtedness, if needed, to ensure adequate cash
flow or timing of the provision of the facilities, and will be reimbursed for any such advances or
payment of annual bond debt service upon receipt of assessments. Any surplus or deficit
remaining on July 1 must be carried over to the next fiscal year.
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N, METHOD OF APPORTIONMENT
A. GENERAL
Part 2 of Division 15 of the Streets and Highways Code, the Landscaping and Lighting
Act of 1972, permits the establishment of Assessment Districts by cities for the purpose
of providing certain public improvements which include the construction, maintenance
and servicing of park and recreation improvements and the acquisition of land for park,
recreation or open space purposes.
Section 22573, Landscaping and Lighting Act of 1972 requires that assessments be
levied according to benefit rather than according to assessed value. This section states:
"The net amount to be assessed upon lands within an assessment district may be
apportioned by any formula or method which fairly distributes the net amount among all
assessable lots or parcels in proportion to the estimated benefits to be received by each
such lot or parcel from the improvements."
The Act permits the designation of zones of benefit within any individual assessment
district if "by reason of variations in the nature, location, and extent of the improvements,
the various areas will receive different degrees of benefit from the improvements." (Sec.
22574). Thus, the 1972 Act requires the levy of a true "assessment" rather than a
"special tax."
In addition, Proposition 218, the "Right to Vote on Taxes Act" which was approved on
the November 1996 Statewide ballot and added Article XIIID to the California
Constitution, requires that a parcel's assessment may not exceed the reasonable cost of
the proportional special benefit conferred on that parcel. XIIID provides that only special
benefits are assessable and the City must separate the general benefits from the special
benefits. XIIID also requires that publicly owned properties that benefit from the
improvements be assessed.
B. REASON FOR THE ASSESSMENT
The District funds a portion of the City's Open Space, Park, and Parkland Program (the
"Program") as previously defined herein in Section II of this Report.
This Program covers park and recreation facilities, open space lands, the Santa Clara
River watershed, trail systems and wildlife corridors throughout the City of Santa Clarita,
and open space preservation around the perimeter of the City.
C. SPECIAL BENEFIT ANALYSIS
Parcels within the District are assessed for those improvements that provide a special
benefit to the properties. Article XIIID of the California Constitution defines special
benefit as:
"A particular and distinct benefit over and above general benefits conferred on real
property located in the district or to the public at large. General enhancement of
property value does not constitute 'special benefit'."
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D. SPECIAL BENEFIT DETERMINATION
In determining the proportionate special benefit derived by each identified parcel, the
proximity of the parcel to the public improvements detailed in Part A above, and the
capital, maintenance and operating costs of said public improvements, was considered
and analyzed. Due to the close proximity of the parcels to the improvements detailed in
Part A above, it has been demonstrated and determined the parcels are uniquely
benefited by, and receive a direct advantage from, and are conferred a particular and
distinct special benefit over and above general benefits by, said public improvements.
The overall quality of life and desirability of an area is enhanced when parks, open
space and recreational facilities are in place, improved, operable, safe, clean and
maintained. Property desirability in an area also increases when there is an increase in
the number of parks, open space and recreation facilities.
Studies in a number of communities have indicated that recreation areas and facilities, if
well maintained and wisely administered, have caused a marked increase in the property
values of parcels in the community. Consequently, such recreation and park facilities
have proved to be a potent factor in maintaining a sound economic condition and a high
standard of livability in the community. These studies confirm the opinion long held by
planning authorities as to the economic value of parks and recreational facilities in a
community.
"The recreation value is realized as a rise in the value of land and other property in
or near the recreation area, and is of both private interest to the landowner and
others, holding an economic stake in the area, and of public interest to the
taxpayers, who have a stake...." (National Recreation and Park Association, June
1985)
"Recreation and park amenities are central components in establishing the quality of
life in a community.... [businesses'] main resource is their employees for whom
quality of life is an important issue... The availability and attractiveness of local parks
and programs influences some companies' relocation decisions.... the presence of a
park encourages real estate development around it...." (California Parks &
Recreation, Winter 1997)
The special benefit of parks and other recreational facilities conferred to residential and
non residential properties has been summarized by a number of studies. The United
States Department of the Interior, National Park Service, in a publication dated June
1984, concluded that:
"Parks and recreation stimulate business and generate tax revenues."
• "Parks and recreation help conserve land, energy, and resources."
"An investment in parks and recreation helps reduce pollution and noise, and makes
for a more pleasing community..."
"Public recreation benefits all employers by providing continuing opportunities to
maintain a level of fitness throughout one's working life, and through helping
individuals cope with the stress of a fast -paced and demanding life."
Collaborative Economics, a Silicon Valley think-tank, has found strong connections
between the physical design and attractive maintenance of community facilities and the
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new knowledge -driven, service-oriented economy (Linking the New Economy to Livable
Communities, Collaborative Economics 1998). Businesses are increasingly valuing
"quality of life" as a way to recruit and retain skilled workers (Profiles of Business
Leadership on Smart Growth, National Association of Local Government Environmental
Professionals, 1999).
Non-residential property (either vacant or developed) located within a community that
actively promotes the design and maintenance of park and recreation facilities, is
conferred a distinct and special benefit because these features attract businesses,
ensuring the highest and best use of the property. Area desirability helps to assure that
vacant property is actually marketable to willing buyers and helps assure that the
property owner can actually capture the full market value for property.
Residential property (both vacant and developed) benefits from the "area desirability'
because workers are attracted to community, and will purchase homes, which again
assures the highest and best use of the property. As described above, when an area is
desirable, property is more marketable and owners are better positioned to capture the
benefits full market value.
The entire community, and parcels within the community, are conferred a special
benefit when parks and recreational facilities are included as part of the overall
community design standard and are maintained.
The Supreme Court of California, in Knox v. City of Orland, acknowledged that parks
confer special benefit. In this opinion, the Supreme Court of California stated "in
California, there is a lengthy history of legislative and judicial recognition that parks
constitute proper subjects for special assessment."
Homebuyers over age 55, considering a move, were surveyed about the amenities that
"would seriously influence them in selecting a new community" in Boomers on the
Horizon: Housing Preferences of the 55+ Market, National Association of Home
Builders, 2002. The following results were found:
Finally, the ERE Yarmouth and Real Estate Research Corporation has found that
"smart communities' (those that actively plan and maintain parks, open space,
streetscaping and pedestrian friendly features) will experience the fastest rise in real
estate values (Defining New Limits, Emerging Trends in Real Estate, ERE Yarmouth
and Real Estate Research Corporation, 1988).
Fiscal Year Open Space Preservation District Engineer's Report
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In addition, all of the aforementioned above illustrates that parks, open space and
recreational facilities contribute to a specific increase in property desirability which
confers a particular and distinct special benefit upon the real property located within the
district.
E. AREA OF BENEFIT
Proposition 218 states, "No assessment shall be imposed on any parcel which exceeds
the reasonable cost of the proportional special benefit conferred on that parcel. Only
special benefits are assessable, and an agency must separate the general benefits from
the special benefits conferred on a parcel."
Based on the above, the area of benefit for the facilities and services funded by the
District are defined below:
The National Recreation and Park Association standards are used to define the service
area of the City's existing parklands and open space areas. These standards state that
a community park, which serves the needs of several neighborhoods, has a service
radius of up to 3 miles. Properties within this 3 -mile service radius are considered to
receive special benefit from the facility.
To define the service area of the District, a 3 -mile radius was drawn around all of the
City's existing parklands and open space areas. This is shown on the Assessment
Diagram at the back of this Report.
Parcels within the District service area are considered to receive special benefit from the
District. The total area served by the Program, as defined above, is 144,142.90 acres.
Of that area, 103,746.90 acres, or approximately 71.98%, is outside the city boundaries.
The benefits conferred on these non -city parcels within the service areas are considered
the "general benefits' associated with the District.
Therefore, only 28.02% of the District budget is assessed to City properties as the
quantification of special benefits received, and 71.98% of the budget will be provided
from other sources (e.g.: general fund, Proposition A funds, etc.).
F. GENERAL BENEFIT
Section 4 of Article XIIID requires that the general benefits imparted by the Open Space,
Park and Parkland Program be separated from the special benefits and that only the
special benefit portion of the costs of the project be assessed against those parcels
which are identified as receiving special benefits.
As stated above, only 28.02% of the District budget is assessed to properties within the
City boundaries as the quantification of special benefits received, and 71.98% of the
budget is defined as the "general benefits".
This quantification of general benefit is considered a conservative estimate as much of
the area outside the City boundaries is currently sparsely developed when compared
with the development intensity within the City.
Fiscal Year Open Space Preservation District Engineer's Report
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All properties within the City of Santa Clarita are within the service area of the City's
existing parklands and open space areas. Therefore, these properties receive special
benefit from the existing facilities. The existing facilities are distributed throughout all
areas of the City. Due to the uniform distribution of the existing parklands and open
space areas in the City, it is considered a reasonable approximation of the ultimate
service area of the parklands and open space to be obtained, developed and preserved
through the Program.
Any future acquisition of undeveloped lands will be within the City of Santa Clarita city
limits or within the service area of the City's existing parklands and open space areas.
Due to this account and the fact that any undeveloped lands outside the City boundaries
will remain essentially in their natural state, these additional areas are not considered to
increase the benefit boundaries of the District.
Additional general benefits to the public at large are considered incidental and non -
quantifiable and are more than adequately funded by the City's additional contribution.
G. SPECIAL BENEFIT METHODOLOGY
The District boundaries are coterminous with the City of Santa Clarita. To establish the
special benefit to the individual parcels within the District, a Benefit Unit system is
utilized. Each parcel of land is assigned Benefit Units (BU's) in proportion to the
estimated special benefit the parcel receives relative to the other parcels within the
District from the Program. Benefit Units are established by considering both the dwelling
unit equivalency of a property and the benefits provided, as discussed above.
Basic Formula:
(Equivalent Dwelling Units) x (Benefit Factor) = Benefit Units
EQUIVALENT DWELLING UNITS
In order to allocate benefit fairly between the parcels, an Equivalent Dwelling Unit (EDU)
methodology is utilized, which equates different types of land uses to a single-family
residential parcel, thereby allowing a uniform method of assessment.
The EDU method uses the single family home as the basic unit of apportionment. A
single family home equals one Equivalent Dwelling Unit (EDU). Every other land use is
converted to EDU's as described below. All assessable properties in the District are
assigned dwelling units and land use classifications per the County Assessor's roll.
(Inaccuracies in the County data will be reviewed on a case by case basis as they are
brought to the City's attention.)
The methodology to calculate the EDU's for other residential land uses and for non-
residential parcels is as follows:
Every land use is converted to EDU's. Parcels containing apartments are converted to
EDU's based on the number of dwelling units on each parcel of land; non-residential
parcels are converted based on the lot size of each parcel of land.
Table 1 outlines the EDU formula
Fiscal Year Open Space Preservation District Engineer's Report
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Table I: EDU Formula
Residential
Single Family Residences (SFR). A single family home equals 1 EDU.
Multi -family Residences (Apartments and Condominiums) and Mobile Home
Parks. Multifamily residential parcels and Mobile Home Park equivalencies are
determined by multiplying the number of dwelling units on each parcel by 0.75 and 0.5,
respectively, due to the relative population density of these types of dwelling units and
reduced unit size compared to the typical density and size of a SFR. Studies have
consistently shown that the average apartment unit impacts infrastructure approximately
75% as much as a single-family residence and the average mobile home unit impacts
infrastructure approximately 50%. (Sources: Institute of Transportation Engineers
Informational Report Trip Generation, Fifth Edition, 1991; Metcalf and Eddy, Wastewater
Engineering Treatment, Disposal, Reuse, Third Edition, 1991). Trip generation and
wastewater usage are a function of population density. Based on this, it is concluded
that other infrastructure will be similarly impacted at a reduced level. The smaller
average unit size of multiple -residential and mobile homes result in a lesser
enhancement per unit to property values.
The EDU's assigned to a multi -residential or to a mobile home parcel are calculated
based on the number of dwelling units and the appropriate EDU factor. For example, the
EDU factor for multi -residential (0.75) is multiplied by the number of dwelling units on the
parcel to determine the total EDU's for the multiple residential parcel. Similarly, the total
EDU's for a mobile home parcel are calculated by multiplying the EDU factor (0.5) by the
number of mobile home units on the parcel.
Fiscal Year Open Space Preservation District Engineer's Report
2015/2016 Page 10
Assessed
EDU
Equivalent
Dwelling
Unit
X
Factor
Unit Rate (EDU)
Residential
Single family home
1
dwelling
x
1
= 1.00
EDU/dwelling
Single family vacant
1
parcel
x
0.25
= 0.25
EDU/parcel
Multi -Family (incl. Condo/Apt)
1
dwelling
x
0.75
= 0.75
EDU/dwelling
Mobile Home Parks
1
space
x
0.5
= 0.50
EDU/space
Developed Non -Residential
Commercial, Industrial,
1
acre
x
6
= 6.00
EDU/acre
Government, Church
1.00
EDU/parcel min
Vacant
1
acre
x
1.5
= 1.50
EDU/acre
0.25
EDU/parcel min
5
acre
x
1.5
= 7.50
EDU/parcel max
Residential
Single Family Residences (SFR). A single family home equals 1 EDU.
Multi -family Residences (Apartments and Condominiums) and Mobile Home
Parks. Multifamily residential parcels and Mobile Home Park equivalencies are
determined by multiplying the number of dwelling units on each parcel by 0.75 and 0.5,
respectively, due to the relative population density of these types of dwelling units and
reduced unit size compared to the typical density and size of a SFR. Studies have
consistently shown that the average apartment unit impacts infrastructure approximately
75% as much as a single-family residence and the average mobile home unit impacts
infrastructure approximately 50%. (Sources: Institute of Transportation Engineers
Informational Report Trip Generation, Fifth Edition, 1991; Metcalf and Eddy, Wastewater
Engineering Treatment, Disposal, Reuse, Third Edition, 1991). Trip generation and
wastewater usage are a function of population density. Based on this, it is concluded
that other infrastructure will be similarly impacted at a reduced level. The smaller
average unit size of multiple -residential and mobile homes result in a lesser
enhancement per unit to property values.
The EDU's assigned to a multi -residential or to a mobile home parcel are calculated
based on the number of dwelling units and the appropriate EDU factor. For example, the
EDU factor for multi -residential (0.75) is multiplied by the number of dwelling units on the
parcel to determine the total EDU's for the multiple residential parcel. Similarly, the total
EDU's for a mobile home parcel are calculated by multiplying the EDU factor (0.5) by the
number of mobile home units on the parcel.
Fiscal Year Open Space Preservation District Engineer's Report
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Developed Non -Residential
Developed non-residential properties are defined as improved commercial, industrial and
institutional properties (such as churches). In converting these properties to EDU's, the
size of the parcels are compared to the median size of a single-family residential lot,
which is 0.17 acres. This equals approximately 6 SFR lots per acre of land. Therefore,
developed non-residential parcels are assigned EDU's at a rate of 6 EDU's per acre.
The minimum EDU assignment for a developed non-residential parcel is 1.0 EDU per
parcel, which is the same as a developed SFR.
The area of non-residential condominium parcels is calculated based on the individual
area of the condo plus an equal share of the common area associated with the
condominium project.
Vacant
Vacant property consists of parcels with few or no improved structures. These properties
have virtually no impacts on infrastructure to make a comparison to developed property;
however, based on the Los Angeles County Assessor's data, the average land value of
a SFR property is between 45% and 50% of the total value. Splitting the difference
between value and impacts, vacant property is assigned EDU's at the rate of 25 percent
of improved property.
A vacant parcel, designated exclusively for a single-family residential unit by a recorded
Tract Map or Parcel Map, will be assigned 0.25 EDUs per lot.
Other vacant parcels, including those properties designated as agricultural, are
assessed based upon the acreage of the parcel. All of these parcels will be assigned
EDU's at the rate of 25% of the developed non-residential properties, or 1.5 EDU's per
acre.
Regarding larger vacant properties, a strict application of the EDU rate per acre will
result in an inappropriately large assessment, particularly considering the fact that the
vacant parcel provides some of the open space attributes the park system endeavors to
provide. As the size of a parcel increases, it begins to provide proportionally larger open
space characteristics. In order to recognize this, the EDU rate for vacant, non -SFR
property is applied to the first 5 acres only. This provides the City with a mechanism to
effectively model the benefits received by vacant, non -SFR property in the more
urbanized areas (where vacant lot sizes tend to be smaller because of encroaching
development) while also crediting the open space benefits provide by larger,
undeveloped parcels.
Therefore, vacant, non -SFR parcels will be assessed 1.5 EDU's per acre up to a
maximum of 5 acres per parcel. The minimum EDU assignment for a vacant parcel is
0.25 EDU's per parcel, which is 25% of a developed SFR.
Fiscal Year Open Space Preservation District Engineer's Report
2015/2016 Page 11
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Exempt
Exempted from the assessment are the areas of streets, avenues, lanes, roads, drives,
courts, alleys, and public easements, rights -of -ways, and parkways. Also exempted from
assessment are utility rights-of-way, common areas (such as in condominium
complexes), landlocked parcels and small parcels vacated by the City as these parcels
have little or no value and therefore do not benefit from the improvements.
In addition, parks, greenbelts and open space are exempt from assessment, as are
public schools, golf courses (which are considered as parks in most cities' planning
documents) and cemeteries, which are also considered to provide a type of parkland
and open space.
Government -Owned Property
Prop. 218 states, "Parcels within a district that are owned or used by any [public]
agency... shall not be exempt from the assessment unless the agency can
demonstrate... that [the] parcels in fact receive no special benefit."
Government-owned (public) properties must be assessed for the benefits they receive. If
no benefit is received (for example, parks and schools as discussed above) then the
government owned parcels can be "exempt" from the assessment. Uses such as City
Hall and maintenance yards are assessed as developed non-residential property.
BENEFIT FACTORS
Proper preservation of parklands and open space within and surrounding the City
benefits properties by providing environmental quality and recreational enhancement.
The amount of benefit received will vary with the different land use of the property. There
are two categories from which the total benefit of a parcel is derived, and these benefits
are weighted equally with respect to each other:
Environmental Quality Benefit.
The improvement of the
quality
of air, visual
aesthetics and attractiveness of
the community as a place
to live,
work and do
business. All properties within the
District are considered to receive this
benefit.
2. Recreation Enhancement Benefit. The availability of useable and safe parkland
and recreational facilities. Only residential properties are considered to receive this
benefit as it more directly relates to the enhancement of the quality of life in the
residential community.
Table 2 outlines the Benefit Factors for the Open space, park and parkland program:
Table II: Open Space & Parkland Benefit Factors
Fiscal Year Open Space Preservation District Engineer's Report
2015/2016 Page 12
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BENEFIT UNITS
As discussed above, the basic formula for calculating Benefit Units for each property is
as follows:
Basic Formula:
(Equivalent Dwelling Units) x (Benefit Factor) = Benefit Units
Table 3, below, outlines the Benefit Unit calculations for various properties:
Table III: Benefit Unit Calculation
Assessed
EDU
Benefit
nd Use
Unit
x
Factor
x
Factor
Benefit
Unit (BU) Rate
Residential
Single family home
1
dwelling
x
1.0
x
1.0
= 1.00
BU / dwelling
Single family vacant
1
parcel
x
0.25
x
1.0
= 0.25
BU / parcel
Multi -Family (incl. Condo)
1
dwelling
x
0.75
x
1.0
= 0.75
BU / dwelling
Mobile Home Parks
1
space
x
0.5
x
1.0
= 0.50
BU / space
Developed Non -Residential
Commercial, Industrial, Gov, Church
1
acre
x
6
x
0.5
= 3.00
BU / acre
1
EDU
min
x
0.5
= 0.50
BU/ parcel min
Vacant
1
acre
x
1.5
x
0.5
= 0.75
BU / acre
0.25
EDU min
x
0.5
= 0.125
BU/ parcel min
5
acre
x
1.5
x
0.5
= 3.75
BU/ parcel max
Table 4, below, provides a summary of Benefit Units for the City of Santa Clarita
Table IV: Assessable Benefit Unit Summary by Land Use
Fiscal Year Open Space Preservation District Engineer's Report
2015/2016 Page 13
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Financial Services
ASSESSMENT RATE CALCULATION
Table 5 provides the assessment rate calculation for FY 2015/16
Table V: Assessment Rate Calculation
* The maximum annual assessment rate will be increased each year by $1.00 per
Benefit Unit (table below). The actual assessments levied in any fiscal year will be as
approved by the City Council and may not exceed the maximum assessment rate
without receiving property owner approval for the increase.
Sample calculations for various land uses are provided in the following Table 6:
Table VI: Sample Calculations
Residential
Single family home
1 dwelling
x
1
x
1 =
1
$31.50
Single family vacant (subdivided)
1 parcel
x
0.25
x
1 =
0.25
$7.88
Condominium
1 dwelling
x
0.75
x
1 =
0.75
$23.63
Duplex
2 dwellings
x
0.75
x
1 =
1.5
$47.25
4-plex
4 dwellings
x
0.75
x
1 =
3
$94.50
10 -unit Apartment
10 dwellings
x
0.75
x
1 =
7.5
$236.25
Mobile Home Parks
10 spaces
x
0.5
x
1 =
5
$157.50
Developed Non -Residential
Commercial, Industrial, Gov, Church
0.25 acre
x
6
x
0.5 =
0.75
$23.63
Commercial, Industrial, Gov, Church
0.5 acre
x
6
x
0.5 =
1.5
$47.25
Commercial, Industrial, Gov, Church
1 acre
x
6
x
0.5 =
3
$94.50
Vacant
Vacant
0.5 acre
x
1.5
x
0.5 =
0.38
$11.97
Vacant
1 acre
x
1.5
x
0.5 =
0.75
$23.63
Vacant
5 acre
x
1.5
x
0.5 =
3.75
$118.13
Vacant
10 acre
=
3.75
$118.13
ASSESSMENT DURATION
The Open Space Preservation District is proposed to exist for thirty (30) years beginning
with 2007/08 and maturing in fiscal year 2036/37.
Fiscal Year Open Space Preservation District Engineer's Report
2015/2016 Page 14
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V. ASSESSMENT ROLL
The Assessment Roll is a listing of the proposed assessment for Fiscal Year 2015/16
apportioned to each lot or parcel, as shown on the last equalized roll of the Assessor of the
County of Los Angeles. The Preliminary Assessment Roll is provided as part of this report and
is incorporated herein.
The description of
each lot
or parcel is part of the records
of the Assessor of the County of Los
Angeles and these
records
are, by reference, made part of
this Report.
K. ASSESSMENT DIAGRAM
The Assessment Diagram for the District is provided on the following page. The lines and
dimensions of each lot or parcel within the District are those lines and dimensions shown on the
maps of the Assessor of the County of Los Angeles, for the year when this Report was
prepared, and are incorporated by reference herein and made part of this Report.
Fiscal Year Open Space Preservation District Engineer's Report
2015/2016 Page 15
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Financial Services
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Financial Services
Appendix 1
Certificates of Participation
Open Space and Parkland Acquisition Program 2007 Series
Debt Service Schedule
Fiscal Year
City of Santa Clarita
Engineer's Report
2014/2015
Open
Space Preservation District
APPENDIX 1
�WI LLDAN
Financial Services
Debt Service Schedule
The following table sets forth the scheduled Lease Payments relating to the Certificates.
TABLE 1
SCHEDULE OF PRINCIPAL AND INTEREST COMPONENTS
Interest Payment*
Principal
Interest
Total
Date
Component
Component
Total
Annual Payments
4/1/2008
S 216,077.74
S 216,077.74
10/1/2008
356,825.63
356,825.63
$ 572,903.36
4/1/2009
356,825.63
356,825.63
10/1/2009
356,825.63
356,825.63
713,651.25
4/1/2010
356,825.63
356,825.63
10/1/2010
356,825.63
356,825.63
713,651.25
4/1/2011
356,825.63
356,825.63
10/1/2011
$ 35,000.00
356,825.63
391,825.63
748,651.25
4/1/2012
356,125.63
356,125.63
10/1/2012
60,000.00
356,125.63
416,125.63
772,251.25
4/1/2013
354,925.63
354,925.63
10/1/2013
90,000.00
354,925.63
444,925.63
799,851.25
4/1/2014
353,125.63
353,125.63
10/1/2014
120,000.00
353,125.63
473,125.63
826,25125
4/1/2015
350,725.63
350,725.63
10/1/2015
150,000.00
350,725.63
500,725.63
851,451.25
4/1/2016
347,725.63
347,725.63
10/1/2016
185,000.00
347,725.63
532,725.63
880,451.25
4/1/2017
344,025.63
344,025.63
10/1/2017
220,000.00
3445025.63
564,025.63
908,051.25
4/1/2018
339,625.63
3397625.63
10/1/2018
255,000.00
339,625.63
594,625.63
934,251.25
4/1/2019
334,525.63
334,525.63
10/1/2019
290,000.00
3349525.63
624,525.63
959,051.25
4/1/2020
328,725.63
3282725.63
10/1/2020
330,000.00
328,725.63
658,725.63
987,451.25
4/1/2021
321,919.38
321,919.38
10/1/2021
370,000.00
321,919.38
691,91938
1,013,838.75
4/1/2022
314,149.38
314,14938
10/1/2022
410,000.00
314,149.38
724,149.38
1,038,298.75
4/1/2023
3059334.38
305,334.38
10/1/2023
455,000.00
305,334.38
760,334.38
1,065,668.75
4/1/2024
2959381.25
295,381.25
10/1/2024
505,000.00
295,381.25
800,38125
1,095,762.50
4/1/2025
2842018.75
284,018.75
10/1/2025
550,000.00
284,018.75
834,018.75
1,118,037.50
4/1/2026
271,643.75
271,643.75
10/1/2026
605,000.00
271,643.75
876,643.75
1,1489287.50
4/1/2027
257,728.75
257,728.75
10/1/2027
655,000.00
257,728.75
912,728.75
1,170,457.50
4/1/2028
242,663.75
242,663.75
10/1/2028
715,000.00
242,663.75
957,663.75
1,200,327.50
4/1/2029
226,218.75
226,218.75
10/1/2029
775,000.00
226,218.75
11001,218.75
1,227,437.50
4/1/2030
207,812.50
207,812.50
10/1/2030
835,000.00
207,812.50
1,042,812.50
1,250,625.00
Fiscal Year
City of Santa Clarita
Engineer's Report
2014/2015
Open
Space Preservation District
APPENDIX 1
01PWI LLDAN
Financial Services
Interest Payment*
Principal
Interest
Total
Date
Component
Component
Total Annual Payments
4/1/2031
91,793.75
187,981.25
187,981.25
11205,000.00 91,793.75
10/1/2031
905,000.00
187,981.25
639175.00
1,0927981.25
1,280,962.50
4/1/2032
1,285,000.00 63,175.00
166,487.50
1,411,350.00
166,487.50
32,656.25
10/1/2032
975,000.00
166,487.50
1,375,000.00 32,656.25
1,141,487.50
1,307,975.00
4/1/2033
143,331.25
143.,331.25
10/1/2033
1,045,000.00
143.331.25
1,188,331.25
1,331,662.50
4/1/2034
118512.50
118,512.50
10/1/2034
11125,000.00
118.512.50
11243.512.50
1,362,025.00
4/1/2035
91,793.75
91,793.75
10/1/2035
11205,000.00 91,793.75
1,296,793.75
1,388,587.50
4/1/2036
639175.00
63,175.00
10/1/2036
1,285,000.00 63,175.00
1,348,175.00
1,411,350.00
4/1/2037
32,656.25
32,656.25
10/1/2037
1,375,000.00 32,656.25
19407,656.25
1,440,312.50
$159525,000.00 $159994,534.61 $3195199534.61 $31,519,534.61
*Lease Payments are due March 15 and September 15 of the respective year.
Fiscal Year City of Santa Clarita Engineer's Report
2014/2015 Open Space Preservation District APPENDIX 1
�WI LLDAN
Financial Services
Appendix 2
Open Space Acquisition
Implementation Work Program
Fiscal Year
City of Santa Clarita
Engineer's Report
2014/2015
Open
Space Preservation District
APPENDIX 2