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HomeMy WebLinkAbout2021-01-26 - AGENDA REPORTS - CFD #2020-1 COOPER STREET PARKING MAINT (2)Agenda Item: 13 P CITY OF SANTA CLARITA AGENDA REPORT PUBLIC HEARINGS CITY MANAGER APPROVAL:1 DATE: January 26, 2021 SUBJECT: FORMATION OF CITY OF SANTA CLARITA COMMUNITY FACILITIES DISTRICT NO. 2020-1 (COOPER STREET PARKING MAINTENANCE) DEPARTMENT: Administrative Services PRESENTER: Johanna Medrano RECOMMENDED ACTION City Council: 1. Conduct a public hearing on the (a) formation of Community Facilities District (CFD) No. 2020-1 (Cooper Street Parking Structure) and (b) levy of special taxes. 2. Adopt a resolution determining the validity of prior proceedings, establishing City of Santa Clarita Community Facilities District No. 2020-1 (Cooper Street Parking Structure), and authorizing the levy of a special tax within said CFD. 3. Adopt a resolution calling a special election. 4. Open and review ballots, and if the proposition passes with a two-thirds vote, adopt a resolution canvassing the results of the election held within said CFD. 5. Introduce and pass to second reading of an ordinance entitled: "AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, ACTING AS THE LEGISLATIVE BODY OF THE CITY OF SANTA CLARITA COMMUNITY FACILITIES DISTRICT NO. 2020-1 (COOPER STREET PARKING STRUCTURE), AUTHORIZING THE LEVY OF SPECIAL TAXES." BACKGROUND In 2016, the City of Santa Clarita (City) formed a community facilities district designated "City of Santa Clarita Community Facilities District No. 2016-1 (Vista Canyon)" (the "Vista Canyon CFD"), for the approved Vista Canyon development located at the end of Lost Canyon Road Page 1 Packet Pg. 142 near Sand Canyon (the "Development"). Vista Canyon CFD covers only the apartment and commercial use parcels within the Development. In February 2020, the Vista Canyon CFD issued its first series of bonds (the "Bonds") secured by special taxes within the Vista Canyon CFD to fund (i) a public parking facility, the Cooper Street Parking Structure (the "Parking Structure"), a City -owned public parking garage with 84 dedicated spaces for the adjacent apartment complex and 529 public parking spaces (ii) a portion of the Transit Center. In October 2020, following final review by the City's Public Works department, the City purchased the Parking Structure from the master developer of the Development for $15,000,000 using the proceeds of the Bonds pursuant to the Funding and Acquisition Agreement approved on April 16, 2016. Pursuant to the conditions for development, the original intent was for the property owner association of the Development (the "POA") to pay the cost of operating and maintaining the Parking Structure. The City previously entered into a Parking Management Services Agreement with the POA (the "Management Agreement"). In order to maintain the tax-exempt nature of the Bonds and have the Management Agreement be considered a "qualified management contract" under IRS rules, tax counsel recommended the formation of a new community facilities district and the imposition of a services special tax to pay the Manager under the Management Agreement and other costs associated with the operation and maintenance of the Parking Structure. In accordance with the Management Agreement, a CFD is proposed to be established for the purpose of funding the operation and maintenance of the Parking Structure. A petition to form the CFD has been received from the landowner of the 1/z acre POA parcel adjacent to the Parking Structure (the parking structure parcel is exempt under the Vista Canyon CFD). The parcel being levied the special tax is currently vacant. Under the Rate and Method of Apportionment (RMA), the POA parcel will be subject to the special tax based on the management budget for the Parking Structure. The special tax will be levied annually by the City pursuant to the RMA and used to pay the operation and the maintenance of the Parking Structure. On December 8, 2020, the Council adopted a resolution of intention to form the "City of Santa Clarita Community Facilities District No. 2020-1 (Cooper Street Parking Structure)" which was amended on January 12, 2021 to correct the map of the CFD. Scheduled for this meeting is a public hearing. Provided there is no majority protest, the City may adopt a resolution to form the CFD. The Landowner has waived election time lines, so an election may be held on this same evening to authorize the levy of an annual special tax on such property, and an appropriations limit for the CFD. Should the proposition pass with a two-thirds vote from the qualified voters (the Landowner is the only voter), the City, acting as the legislative body of the CFD, may consider adoption of an ordinance levying the special tax and conduct the first reading of the ordinance at this meeting. At a subsequent meeting, the City, acting as the legislative body of the CFD, may conduct a second reading and adopt the ordinance. Following adoption of the ordinance, the CFD may levy the annual special tax pursuant to the RMA. Page 2 Packet Pg. 143 ALTERNATIVE ACTION Other action as determined by the City Council. FISCAL IMPACT All expenses associated with the creation of the CFD will be borne by the developer. Upon approval of the recommended action, the cost of the Cooper Street Parking Structure's operations and maintenance will be funded by the City of Santa Clarita Community Facilities District No. 2020-1 special tax. ATTACHMENTS Public Hearing Notice Resolution of Formation - CFD NO. 2020-1 (Cooper Street Parking Structure) Resolution Calling an Election - CFD NO. 2020-1 (Cooper Street Parking Structure) Resolution Canvassing Election CFD NO. 2020-1 (Cooper Street Parking Structure) Ordinance CFD Report for Formation of CFD 2020-1 Cooper Street (available in the City Clerk's Reading File) Page 3 Packet Pg. 144 13.a NOTICE OF THE PUBLIC HEARING ON THE ESTABLISHMENT OF CITY OF SANTA CLARITA COMMUNITY FACILITIES DISTRICT NO. 2020-1 (COOPER STREET PARKING STRUCTURE), THE PROPOSED RATE AND METHOD OF APPORTIONMENT OF THE SPECIAL TAX NOTICE IS HEREBY GIVEN that at 6 p.m. on January 26, 2021 or as soon thereafter as practicable, at the regular meeting place of the City Council (the "Council") of the City of Santa Clarita (the "City"), City Council Chambers, 23920 Valencia Boulevard, Santa Clarita, California, 91355, the City will hold a public hearing on the establishment of the City of Santa Clarita Community Facilities District No. 2020-1 (Cooper Street Parking Structure) (the "District"), the proposed rate and method of apportionment of the special tax (the "Special Tax") to be levied on certain property within the District. On November 24, 2020, the City Council adopted Resolution No. 20-78, as amended by Resolution adopted on January 12, 2021 (collectively, the "Resolution of Intention"), stating its intention to form the District pursuant to the Mello -Roos Community Facilities Act of 1982, as amended, commencing with Section 53311 of the California Government Code (the "Act"). A summary of the Resolution of Intention is attached hereto as Attachment A. At the hearing, the testimony of all interested persons or taxpayers for or against the establishment of the District, the extent of the District, or the furnishing of specified types of public services, will be heard. If written protests against the formation of the District are filed by (a) fifty percent (50%) or more of the registered voters, or six (6) registered voters, whichever is greater, residing within the proposed District, or (b) the owners of one-half (1/z) or more of the area of land included within the proposed District, and are not withdrawn so as to reduce the value of the protests to less than a majority, no further proceedings to create the specified District or to levy the specified Special Tax shall be taken for a period of one year from the date of the decision of the City Council. If said majority protest is limited to certain types of services or certain provisions of the special tax, those services or those provisions of the tax shall be eliminated by the City Council from the resolution of formation. The voting procedure shall be conducted by hand delivered or mailed ballot election. Any person interested in these matters is invited to attend, according to the instructions for participation that will be included in the posted City Council meeting agenda, and present testimony either for or against the above item. If you challenge the proposed action in court, you may be limited to raising only those issues you or someone else raised at the public hearing described in this notice or in written correspondence delivered to the City Council at or prior to the public hearing. Dated: January 13, 2021 Mary Cusick, MMC City Clerk Publish Date: January 19, 2021 Packet Pg. 145 13.a ATTACHMENT A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, CALIFORNIA, DECLARING ITS INTENTION TO ESTABLISH CITY OF SANTA CLARITA COMMUNITY FACILITIES DISTRICT NO.2020-1 (COOPER STREET PARKING STRUCTURE) AND AUTHORIZE THE LEVY OF A SPECIAL TAX WITHIN SAID DISTRICT, AS AMENDED The City Council determines to institute proceedings for the formation of a community facilities district (the "District") under the terms of the Mello -Roos Community Facilities Act of 1982, as amended, commencing with Section 53311 of the Government Code of the State of California (the "Act"). The exterior boundaries of the District are specified and described to be as shown on that certain amended map now on file in the office of the City Clerk entitled "Map of Proposed Boundaries, City of Santa Clarita Community Facilities District No. 2020-1 (Cooper Street Parking Structure)" which amended map indicates by a boundary line the extent of the territory included in the proposed community facilities district. The name of the proposed community facilities district shall be "City of Santa Clarita Community Facilities District No. 2020-1 (Cooper Street Parking Structure)." The types of services proposed to be provided for, and financed by, the proposed District, include the operation and maintenance of the public parking structure located at 17265 Rouse Place in the City of Santa Clarita, commonly known as the Cooper Street Parking Structure (the "Services"), which Services are in addition to and do not supplant those services already provided in the territory within the proposed District prior to the establishment of the District. Except where funds are otherwise available, it is the intention of the City Council to levy annually, in perpetuity, in accordance with procedures contained in the Act, a special tax (the "Special Tax") sufficient to finance the cost of providing the Services, the costs of administering the levy and collection of the Special Tax and all other costs of the levy of the Special Tax, including any foreclosure proceedings, legal, fiscal, and financial consultant fees, election costs, and all other administrative costs of the tax levy. The Special Tax will be secured by the recordation of a continuing lien against all taxable and nonexempt real property in the proposed District. The rate and method of apportionment (the "RMA") and manner of collection of the Special Tax to be levied on parcels of taxable property within the proposed District shall be as described in detail and set forth in Exhibit "A" attached to the Resolution of Intention and by this reference made a part hereof. The RMA provides sufficient detail to allow each owner of nonexempt real property within the proposed District to estimate the maximum amount that such person will have to pay for the Services. The Special Tax is apportioned to each parcel on the foregoing basis pursuant to Section 53325.3 of the Act and as described in the RMA and such Special Tax is not levied on or based upon the value or ownership of real property. Upon recordation of a notice of special tax lien pursuant to Section 3114.5 of the Streets and Highways Code of the State of California, a continuing lien to secure each levy of the Special Taxes shall attach to all nonexempt real property in the proposed District, and that lien shall continue in force and effect until collection of the Special Taxes ceases. Packet Pg. 146 13.a Pursuant to Section 53340 of the Act, and except as provided in Section 53317.3 of the Act, properties of entities of the state, federal, and local governments shall be exempt from the levy of the Special Tax. The City Council finds that the proposed Services are necessary to meet increased demands placed upon the City as a result of new development occurring within and related to the boundaries of the proposed District. Each City officer who is or will be responsible for the District, if it is established, is directed to study the proposed District and, at or before the time of the above -mentioned Hearing, file a report with the City Council, and which is to be made a part of the record of the Hearing, containing a brief description of the District and his or her estimate of the cost of providing the Services within the boundary of the District. The Director of Administrative Services is directed to estimate or cause the estimation of the fair and reasonable cost of all incidental expenses, including all costs associated with the creation of the District, determination of the amount of any Special Taxes, collection of any Special Taxes, or costs otherwise incurred in order to carry out the authorized purposes of the City with respect to the District. The voting procedures to be followed in conducting the special election on the proposition with respect to the levy of special taxes on the land within proposed District to fund the Services, if the District is established and such special election (the "Election") are held, shall be (a) if at least 12 persons have been registered to vote within the territory of the proposed District for each of the ninety (90) days preceding the close of the Hearing, the vote in the Election shall be by the registered voters of the District with each voter having one vote. In that event, the Election shall be conducted by the City Clerk (the "Election Official") and shall be held on a date selected by the City Council in conformance with the provisions of Section 53326 of the Act and pursuant to the provisions of the Elections Code of the State of California governing elections of cities, insofar as they may be applicable, and pursuant to said Section 53326 the ballots for the Election shall be distributed to the qualified electors of the proposed District by mail with return postage prepaid, and the Election shall be conducted as a mail ballot election, or (b) if at the time of the close of the Hearing, and for at least the preceding ninety (90) days, less than 12 persons have been registered to vote within the territory of the proposed District, and pursuant to Section 53326 of the Act, the vote is therefore to be by the landowners of the proposed District, with each landowner of record at the close of the Hearing having one vote for each acre or portion of an acre of land that he or she owns within the proposed District, the Election shall be conducted by the Election Official on the earliest date, following the Hearing and adoption of a resolution submitting the proposition of the levy of special taxes to fund the Services, upon which such Election can be held pursuant to said Section 53326 which may be selected by the City Council, or such earlier date as the owners of land within the proposed District and the Election Official agree and concur is acceptable. The City may accept advances of funds from any sources, including private persons or private entities, and is authorized and directed to use such funds for any authorized purpose, including any cost incurred by the City in creating the District. The City may enter into an agreement to repay all of such funds as are not expended or committed for any authorized purpose at the time of the election on the levy of the Special Tax, if the proposal to levy such tax should fail, and at its option to repay any or all of such funds advanced if the levy of the Special Tax shall be approved by the qualified electors of the proposed District. Pursuant to Section 53329.5 of the Act and except as provided in the RMA, the City Council finds that the public interest will not be served by allowing the property owners within the District to enter into a contract in accordance with subdivision (a) of that section, and that the property owners shall not be permitted to elect to perform the work and enter into a written contract with the City for the provision of the Services pursuant to said Section 53329.5 except as provided in the RMA. Packet Pg. 147 13.b RESOLUTION NO. 21- RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, CALIFORNIA, DETERMINING THE VALIDITY OF PRIOR PROCEEDINGS, ESTABLISHING CITY OF SANTA CLARITA COMMUNITY FACILITIES DISTRICT NO. 2020-1 (COOPER STREET PARKING STRUCTURE), AND AUTHORIZING THE LEVY OF A SPECIAL TAX WITHIN SAID DISTRICT WHEREAS, the City Council (the "City Council") of the City of Santa Clarita (the "City") has received a petition signed by the owner of certain property (the "Owner") requesting the establishment of City of Santa Clarita Community Facilities District No. 2020-1 (Cooper Street Parking Structure) (the "District") pursuant to the Mello -Roos Community Facilities Act of 1982, as amended, commencing with Section 53311 of the Government Code of the State of California (the "Act"), to finance certain public services, including operation and maintenance of a public parking structure located at 17265 Rouse Place in the City of Santa Clarita, commonly known as the Cooper Street Parking Structure (the "Services"); and WHEREAS, the City Council has heretofore adopted its resolution of intention, as amended ("Resolution of Intention") stating its intention to form the District and a copy of the Resolution of Intention is on file with the City Clerk and incorporated herein by reference; and WHEREAS, pursuant to the Act and in accordance with applicable laws in all material respects, this City Council held a public hearing on the formation of the District and all other matters referenced in the Resolution of Intention; and WHEREAS, prior to the commencement of the public hearing, there was filed with the City Council a Community Facilities District Report prepared by Harris & Associates (the "CFD Report") containing a boundary map, and a description and an estimate of the services and incidental expense to be financed by the District, and the CFD Report has been reviewed by the City Council and is incorporated herein and made a part of the record of the public hearing; and WHEREAS, at said hearing all persons not exempt from the special tax desiring to be heard on all matters pertaining to the formation of the District were heard and a full and fair hearing was held; and WHEREAS, at said hearing evidence was presented to the City Council on said matters before it, and this City Council at the conclusion of said hearing is fully advised in the premises. NOW, THEREFORE, the City Council of the City of Santa Clarita, California, does hereby resolve as follows: SECTIONI. Pursuant to Section 53325.1(b) of the Act, the City Council finds and determines that the proceedings prior hereto were valid and in conformity with the requirements of the Act in all material respects. Page 1 of 4 Packet Pg. 148 13.b SECTION 2. Written protests against the establishment of the District, or against the furnishing of specified services or the levying of a specified special tax within the District, have not been filed by fifty percent (50%) or more of the registered voters or property owners of one- half (1/2) or more of the area of land within the District. SECTION 3. A community facilities district to be designated "City of Santa Clarita Community Facilities District No. 2020-1 (Cooper Street Parking Structure)" is hereby established pursuant to the Act. SECTION 4. The description and amended map of the boundaries of the District as shown on the map entitled "Amended Map of Proposed Boundaries, City of Santa Clarita Community Facilities District No. 2020-1 (Cooper Street Parking Structure)" on file in the City Clerk's office and as described in the Resolution of Intention and incorporated herein by reference, shall be the boundaries of the District. The amended map of the proposed boundaries of the District has been recorded in the Office of the County Recorder of Los Angeles County, California (Book of Maps of Assessment and Community Facilities Districts at page _). SECTION 5. The types of services to be provided for, and financed by, the District, include the operation and maintenance of a public parking structure located at 17265 Rouse Place in the City of Santa Clarita, commonly known as the Cooper Street Parking Structure (the "Services"), directly or indirectly relating to the development of the territory within the District, which Services are in addition to and do not supplant those services already provided in the territory within the District prior to the establishment of the District. The Services are more fully described in the CFD Report. SECTION 6. Except where funds are otherwise available, it is the intention of the City Council to levy annually, in perpetuity, in accordance with procedures contained in the Act, a special tax (the "Special Tax") sufficient to finance the cost of providing the Services, the costs of administering the levy and collection of the Special Tax and all other costs of the levy of the Special Tax, including any foreclosure proceedings, legal, fiscal, and financial consultant fees, election costs, and all other administrative costs of the tax levy. The Special Tax will be secured by the recordation of a continuing lien against all taxable and nonexempt real property in the District. The rate and method of apportionment, as amended (the "RMA") and manner of collection of the Special Tax to be levied on parcels of taxable property within the District shall be as described in detail and set forth in Exhibit "A" attached hereto and by this reference made a part hereof. The RMA provides sufficient detail to allow each owner of nonexempt real property within the District to estimate the maximum amount that such person will have to pay for the Services. The Special Tax is apportioned to each parcel on the foregoing basis pursuant to Section 53325.3 of the Act and as described in the RMA and such Special Tax is not levied on or based upon the value or ownership of real property. Upon recordation of a notice of special tax lien pursuant to Section 3114.5 of the Streets and Highways Code of the State of California, a continuing lien to secure each levy of the Special Taxes shall attach to all nonexempt real property in the District and that lien shall continue in force and effect until collection of the Special Taxes ceases. Page 2 of 4 Packet Pg. 149 13.b SECTION 7. The City Council finds that the proposed public services are necessary to meet the increased demand put upon the City as a result of the development within the District. SECTION 8. The CFD Report is ordered to be kept on file with the minutes of these proceedings and open for public inspection. SECTION 9. Pursuant to and in compliance with the provisions of California Government Code Section 50075.1, the City Council hereby establishes the following accountability measures pertaining to the levy by the District of the Special Tax: (a) Such Special Tax shall be levied for the specific purposes set forth herein. (b) The proceeds of the levy of such Special Tax shall be applied only to the specific purposes set forth herein. (c) The District shall establish an account or accounts into which the proceeds of such Special Tax shall be deposited. (d) The Director of Administrative Services, or her designee, acting for and on behalf of the District, shall annually file a report with the City Council as required pursuant to California Government Code Section 50075.3. SECTION 10. The Director of Administrative Services, 23920 Valencia Blvd., Suite 300, Santa Clarita, CA 91355, (661) 255-4997, or his or her designee, is designated to be responsible for preparing or causing to be prepared annually a current roll of Special Tax levy obligations by assessor's parcel number and for estimating future Special Tax levies pursuant to Section 53340.1 of the California Government Code. SECTION 11. The City Clerk is directed to certify and attest to this resolution and to take any and all necessary acts to call, hold, canvass and certify an election or elections on the levy of the special tax, and the establishment of the appropriation limit. The voting procedure with respect to the imposition of the Special Tax and establishing an appropriations limit of the District shall be by hand delivered or mailed ballot election as provided in the Resolution of Intention. SECTION 12. This resolution shall take effect immediately upon its adoption. PASSED, APPROVED, AND ADOPTED this 26th day of January 2021. ATTEST: CITY CLERK DATE: MAYOR Page 3 of 4 Packet Pg. 150 13.b STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) ss. CITY OF SANTA CLARITA ) I, Mary Cusick, City Clerk of the City of Santa Clarita, do hereby certify that the foregoing Resolution 21- was duly adopted by the City Council of the City of Santa Clarita at a regular meeting thereof, held on the 261h day of January 2021, by the following vote: AYES: COUNCIL,MEMBERS: NOES: COUNCIL,MEMBERS: ABSENT: COUNCIL,MEMBERS: CITY CLERK Page 4 of 4 Packet Pg. 151 13.b EXHIBIT A RATE AND METHOD OF APPPORTIONMENT OF SPECIAL TAX A-1 Packet Pg. 152 13.c RESOLUTION NO. 21- RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, CALIFORNIA, ACTING AS THE LEGISLATIVE BODY OF THE CITY OF CITY OF SANTA CLARITA COMMUNITY FACILITIES DISTRICT NO. 2020-1 (COOPER STREET PARKING STRUCTURE), CALLING A SPECIAL ELECTION WHEREAS, the City Council (the "City Council") of the City of Santa Clarita (the "City") has heretofore adopted a resolution of intention as amended ("Resolution of Intention") stating its intention to form the City of Santa Clarita Community Facilities District No. 2020-1 (Cooper Street Parking Structure) (the "District") pursuant to the Mello -Roos Community Facilities Act of 1982, as amended, commencing with Section 53311 of the Government Code of the State of California (the "Act"), to finance certain public services, including operation and maintenance of a public parking structure located at 17265 Rouse Place in the City of Santa Clarita, commonly known as the Cooper Street Parking Structure (the "Services"); and WHEREAS, a copy of the Resolution of Intention, incorporating a description and amended map of the proposed boundaries of the District and setting forth the rate and method of apportionment (the "RMA") and manner of collection of the special tax to be levied within the District (the "Special Tax"), is on file with the City Clerk and incorporated herein by reference; and WHEREAS, on January 26, 2021, the City Council held a noticed hearing as required by law relative to the proposed formation of the District; and WHEREAS, the proposed Special Tax to be levied upon property within the District to finance the Services has not been precluded by protest of the owners of one-half (1/2) or more of the area of land within the District; and WHEREAS, the City Council has heretofore adopted a Resolution of Formation determining the validity of prior proceedings, establishing the District, and authorizing the levy of the Special Tax within the boundaries of the District; and WHEREAS, a copy of the Resolution of Formation is on file with the City Clerk and incorporated herein by reference; and WHEREAS, the City Council wishes to present to the qualified electors of the District a proposition to levy the Special Taxes on property within the District pursuant to the Act and the establishment of an appropriations limit for the District as defined by subdivision (h) of Section 8 of Article XIIIB of the California Constitution. NOW, THEREFORE, the City Council of the City of Santa Clarita, California, acting as the legislative body of the City of Santa Clarita Community Facilities District No. 2020-1 (Cooper Street Parking Structure), does hereby resolve as follows: Page 1 of 3 Packet Pg. 153 13.c SECTIONI. Pursuant to 53353.5 of the Act, the City Council hereby submits to the qualified electors of the District a proposition (the "Proposition") to (a) levy special taxes on property within the District in accordance with the Special Tax Formula and (b) establish an appropriations limit for the District in the amount of $1,000,000. The Proposition is attached as Exhibit "A." SECTION 2. A special election is hereby called for the District on the Proposition set forth in Section 1 above. SECTION 3. The City Council hereby directs that the election be conducted by the City Clerk of the City of Santa Clarita, as the elections official. SECTION 4. The time for notice having been waived by the qualified electors, the date of the special election for the District on the Proposition shall be on the 26th day of January, 2021. There being no registered voters residing within the territory of the District at the time of the protest hearing and ninety (90) days prior thereto, there being less than twelve (12) landowners in the District, and the requirements of Section 53326 of the Act having been waived by all landowners, the ballot for the special election shall be hand delivered to the landowner within the District. Each landowner shall have one (1) vote for each acre or portion thereof that it owns within the District, as provided by Section 53326 of the Act. The voter ballot shall be returned to the City Clerk at 23920 Valencia Blvd., Suite 300, Santa Clarita, CA 91355, no later than 11:00 o'clock p.m. on January 26, 2021. However, the election may be closed within the concurrence of the City Clerk, as soon as the ballot is returned. SECTION 5. Notice of said election and written argument for or against the measure have been waived by the landowners. SECTION 6. The District shall constitute a single election precinct for the purpose of holding said election. SECTION 7. This resolution shall take effect immediately upon its adoption. PASSED, APPROVED, AND ADOPTED this 26th day of January 2021. ATTEST: CITY CLERK DATE: MAYOR Page 2 of 3 Packet Pg. 154 13.c STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) ss. CITY OF SANTA CLARITA ) I, Mary Cusick, City Clerk of the City of Santa Clarita, do hereby certify that the foregoing Resolution No. 21- was duly adopted by the City Council of the City of Santa Clarita at a regular meeting thereof, held on the 261h day of January 2021, by the following vote: AYES: COUNCIL,MEMBERS: NOES: COUNCIL,MEMBERS: ABSENT: COUNCIL,MEMBERS: CITY CLERK Page 3 of 3 Packet Pg. 155 13.c EXHIBIT A OFFICIAL BALLOT CITY OF SANTA CLARITA COMMUNITY FACILITIES DISTRICT NO. 2020-1 (COOPER STREET PARKING STRUCTURE) SPECIAL TAX AND APPROPRIATIONS LIMIT ELECTION January 26, 2021 To vote, mark an "X" in the voting square after the word "YES" or after the word "NO." All marks otherwise made are forbidden. This ballot is provided to VISTA CANYON PHASE I, LLC, a Delaware limited liability company, as owner or authorized representative of such owner of land within City of Santa Clarita Community Facilities District No. 2020-1 (Cooper Street Parking Structure) and represents 1 vote. If you wrongly mark, tear, or deface this ballot, return it to the City Clerk of the City of Santa Clarita at 23920 Valencia Blvd., Suite 300, Santa Clarita, CA 91355. PROPOSITION: Shall the City of Santa Clarita Community Facilities District No. 2020-1 (Cooper Street Parking Structure) (the "District"), be authorized to levy special taxes thereof pursuant to the rate and method of apportionment of special taxes (the "RMA") set forth in the Resolution of Formation adopted by the City Council of the City of Santa Clarita on June 26, 2021, to finance the authorized services and administrative expenses, all as provided in the RMA and subject to the accountability measures provided for in said Resolution; and shall an appropriations limit be established for the District pursuant to Article XIIIB of the California Constitution, said appropriations limit to be equal to $1,000,000? YES NO A-1 Packet Pg. 156 13.d RESOLUTION NO. 21- RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, CALIFORNIA, ACTING AS THE LEGISLATIVE BODY OF THE CITY OF SANTA CLARITA COMMUNITY FACILITIES DISTRICT NO. 2020-1 (COOPER STREET PARKING STRUCTURE), CANVASSING THE RESULTS OF THE ELECTION HELD WITHIN SAID DISTRICT AND AUTHORIZING THE LEVY OF A SPECIAL TAX WITHIN SAID DISTRICT WHEREAS, the City Council (the "City Council") of the City of Santa Clarita (the "City") has previously conducted proceedings pursuant to the Mello -Roos Community Facilities Act of 1982, as amended, commencing with Section 53311 of the Government Code of the State of California (the "Act"), pertaining to the formation of the City of Santa Clarita Community Facilities District No. 2020-1 (Cooper Street Parking Structure) (the "District"), the rate and method of apportionment of a special tax (the "Special Tax") to finance the cost of providing certain public services (the "Services"), the establishment of an appropriations limit for the District and the calling of an election in regard to the foregoing; WHEREAS, on January 26, 2021, an election was held within the District relative to the authorization of the levy of the Special Tax pursuant to the rate and method of apportionment, and the establishment of an appropriations limit; and WHEREAS, at such election the proposal for levying of the Special Tax pursuant to the rate and method of apportionment and establishing an appropriations limit for the District was approved by the requisite two-thirds of the votes cast by qualified electors of the District. NOW, THEREFORE, the City Council of the City of Santa Clarita, California, acting as the legislative body of the City of Santa Clarita Community Facilities District No. 2020-1 (Cooper Street Parking Structure), does resolve as follows: SECTION 1. It is hereby determined that the election conducted within the District was duly and validly conducted. SECTION 2. The City Council, acting as the legislative body of the District, is authorized to levy the Special Tax on behalf of the District, as specified in the Resolution of Formation adopted by the City Council on January 26, 2021. SECTION 3. The appropriations limit for the District as defined by subdivision (h) of Section 8 of Article XIIIB of the California Constitution is set at $1,000,000 for the fiscal year 2020-21. SECTION 4. The City Clerk is hereby directed and authorized to record notice of the Special Tax by recording a Notice of Special Tax Lien of City of Santa Clarita Community Facilities District No. 2020-1 (Cooper Street Parking Structure) in the office of the County Recorder of the County of Los Angeles within fifteen (15) days of the date hereof pursuant to Section 3114.5 of the California Streets and Highways Code. Page 1 of 2 Packet Pg. 157 13.d SECTION 5. This resolution shall take effect immediately upon its adoption. PASSED, APPROVED, AND ADOPTED this 26th day of January 2021. MAYOR ATTEST: CITY CLERK DATE: STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) ss. CITY OF SANTA CLARITA ) I, Mary Cusick, City Clerk of the City of Santa Clarita, do hereby certify that the foregoing Resolution No. 21- was duly adopted by the City Council of the City of Santa Clarita at a regular meeting thereof, held on the 26th day of January 2021, by the following vote: AYES: COUNCIL,MEMBERS: NOES: COUNCIL,MEMBERS: ABSENT: COUNCIL,MEMBERS: CITY CLERK Page 2 of 2 Packet Pg. 158 13.e ORDINANCE NO. 21- AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, CALIFORNIA, ACTING AS THE LEGISLATIVE BODY OF THE CITY OF SANTA CLARITA COMMUNITY FACILITIES DISTRICT NO. 2020-1 (COOPER STREET PARKING STRUCTURE), AUTHORIZING THE LEVY OF SPECIAL TAXES WHEREAS, on December 8, 2020, the City Council (the "Council") of the City of Santa Clarita (the "City") adopted a resolution of intention and further amended on January 12, 2021 (the "Resolution of Intention"), by stating its intention to form City of Santa Clarita Community Facilities District No. 2020-1 (Cooper Street Parking Structure) (the "CFD") pursuant to the Mello -Roos Community Facilities Act of 1982, as amended, commencing with Section 53311 of the California Government Code (the "Act"), to finance certain public services, including operation and maintenance of a public parking structure located at 17265 Rouse Place in the City of Santa Clarita, commonly known as the Cooper Street Parking Structure (the "Services"); WHEREAS, notice was published as required by law relative to the intention of the Council to form the CFD within the boundaries of the CFD; and WHEREAS, on January 26, 2021, this Council held a noticed public hearing as required by law relative to the determination to proceed with the formation of the CFD and the rate and method of apportion and manner of collection of the special taxes (the "Special Taxes") to be levied within the CFD for the Services; and WHEREAS, at said hearing all persons desiring to be heard on all matters pertaining to the formation of the CFD and the levy of the Special Taxes were heard and a full and fair hearing was held; and WHEREAS, the Council subsequent to said hearing adopted Resolution No. 2 1 -_ (the "Resolution of Formation") determining the validity of prior proceedings and establishing the CFD; and WHEREAS, the Council subsequent to said hearing adopted Resolution No. 2021- which called an election within the CFD for January 26, 2021 on the propositions of levying the Special Taxes within the CFD and setting an appropriations limit; and WHEREAS, on January 26, 2021, an election was held within the CFD in which the eligible electors approved by more than two-thirds vote the proposition of levying the Special Taxes within the CFD and setting an appropriations limit. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA CLARITA, CALIFORNIA, DOES HEREBY ORDAIN AS FOLLOWS: Section 1. A special tax (the "Special Tax") is hereby levied within the boundaries of the CFD pursuant to the formula set forth in Exhibit "A" attached to the Resolution of Formation, and incorporated herein by reference, or as such special tax may be modified or amended from time to time by a resolution of change or annexation adopted pursuant to the provisions of the Page 1 of 3 Packet Pg. 159 13.e Act (the "RMA"), in an amount necessary to finance all or a portion of the cost of providing the Services that are in addition to those provided in the territory within the CFD prior to the formation of, or annexation to, the CFD, periodic costs, and costs of the tax levy and collection, as provided in the RMA. Section 2. The Director of Administrative Services is hereby further authorized as provided in section 53340 of the Act on or before June 30 of each year to determine the specific special tax rate and amount to be levied for the next fiscal year in accordance with the RMA and to prepare or cause to be prepared a list of all nonexempt parcels within the CFD and the specific amount of the special taxes for each parcel, except that the special tax rates to be levied shall not exceed the maximum rates contained in the RMA. Section 3. All of the collections of the Special Tax shall be used as provided for in the Act and the Resolution of Formation and any resolution of change or annexation adopted from time to time by the Council. Section 4. The above authorized Special Tax shall be collected in the same manner as ordinary ad valorem property taxes are collected and shall be subject to the same penalties and the same procedure, sale and lien priority in cases of delinquency as is provided for ad valorem taxes; provided, however, the CFD may collect the Special Tax at a different time or in a different manner if necessary to meet its financial obligations. Section 5. If any section, subsection, sentence, clause, phrase or portion of this ordinance, or the application thereof to any person or place, is for any reason held to be invalid or unconstitutional by the final decision of any court of competent jurisdiction, the remainder of this Ordinance shall remain in full force and effect. Section 6. Pursuant to Government Code Section 36933(c)(1), the City Attorney was designated to prepare, and the City Clerk published, a summary of this Ordinance, and a certified copy of this ordinance was posted in the office of the City Clerk a minimum of five days before the City Council's adoption of this ordinance. Section 7. The Mayor shall sign this Ordinance and the City Clerk shall attest to such signature. The City Clerk is directed to cause the title and summary or text of this ordinance, together with the vote thereon, to be published within fifteen (15) days after its passage at least once in a newspaper of general circulation published and circulated within the territorial jurisdiction of the City, and to post at the offices of the City a certified copy of the full text of the adopted ordinance along with the names of the Council Members voting for and against the ordinance. Section 8. This ordinance relating to the levy of the special taxes takes effect and shall be in force immediately after the date of final passage pursuant to Government Code Section 36937(a). A copy of this ordinance shall be transmitted to the Assessor and the Treasurer -Tax Collector of Los Angeles County. Page 2 of 3 Packet Pg. 160 13.e PASSED, APPROVED AND ADOPTED this 91h day of February, 2021. MAYOR ATTEST: CITY CLERK DATE STATE OF CALIFORNIA COUNTY OF LOS ANGELES CITY OF SANTA CLARITA I, Mary Cusick, City Clerk of the City of Santa Clarita, do hereby certify that the foregoing Ordinance No. 2 1 - was regularly introduced and placed upon its first reading at a regular meeting of the City Council on January 26, 2021. That thereafter, said Ordinance was duly passed and adopted at a regular meeting of the City Council on the 9' day of February 2021, by the following vote, to wit: AYES: COUNCILMEMBERS: NOES: COUNCILMEMBERS: ABSENT: COUNCILMEMBERS: AND I FURTHER CERTIFY that the forgoing is the original of Ordinance No. 2 1 - and was published in The Signal newspaper in accordance with State Law (G.C. 40806). CITY CLERK Page 3 of 3 Packet Pg. 161 City of "SANTA GLARITA M M u N III r IIII°° IIII IlllIII r III Illflllll°,S III S r IIRIIC r NO. 202G Inn ""' r"' I1II IIR II IIII N G S r IIRUC""'r"'U III lllflllll COMMUNWITY il Imo, T IllIN GIlflllllr Illcoa I ""',, CA IllIII IF`O IIR IN III JAN UARY 2021 PREPARED BY IIIIIIIIIIIIIIIIII;!;;°i� I Harris & Associates City of Santa Clarita January 2021 CFD No. 2020-1 (Cooper Street Parking Structure) Community Facilities District Report Page ii CITY OF SANTA CLARITA COMMUNITY FACILITIES DISTRICT NO. 2020-1 (COOPER STREET PARKING STRUCTURE) COMMUNITY FACILITIES DISTRICT REPORT TABLE OF CONTENTS Introduction CFD Boundaries Public Facilities and Services Cost Estimate Rate and Method of Apportionment of Special Tax Maximum Special Tax Rate Manner of Collection I_1»11019][�ly A - CFD Boundary Map B - Cost Estimate C - Rate and Method of Apportionment 1 2 2 2 3 3 4 City of Santa Clarita January 2021 CFD No. 2020-1 (Cooper Street Parking Structure) Community Facilities District Report Page 1 COMMUNITY FACILITIES DISTRICT NO.2020-1 (COOPER STREET PARKING STRUCTURE) INTRODUCTION The City Council (the "City Council") of the City of Santa Clarita (the "City"), pursuant to the provisions of the Mello -Roos Community Facilities Act of 1982 (Sections 53311 and following, California Government Code; hereafter referred to as the "Act"), on November 24, 2020, did adopt a resolution entitled Resolution of the City Council of the City of Santa Clarita, California, Declaring Its Intention to Establish the City of Santa Clarita Community Facilities District No. 2020-1 (Cooper Street Parking Structure) and to Authorize the Levy of a Special Tax within Said District to finance certain public services and on January 12, 2021, did adopt a resolution entitled Resolution of the City Council of the City of Santa Clarita, California, Amending the Resolution of Intention to Establish the City of Santa Clarita Community Facilities District No. 2020-1 (Cooper Street Parking Structure) (combined, the "Resolution of Intention"). In the Resolution of Intention, the City Council set a date of January 26, 2021 to consider the establishment of the proposed District and expressly directed the preparation of a written Community Facilities District Report (the "Report"), for the proposed City of Santa Clarita Community Facilities District No. 2020-1 (Cooper Street Parking Structure) (the "District"). WHEREAS, the Resolution of Intention of the City Council of the City of Santa Clarita to establish City of Santa Clarita Community Facilities District No. 2020-1 (Cooper Street Parking Structure) to authorize the levy of a Special Tax to pay the costs of operating and maintaining certain facilities and the expenses of CFD No. 2020-1, did direct that said Report generally contain the following: a. A brief description of the District, including a brief description of the public facilities to be operated and maintained, and a brief description of the public services required to adequately meet the needs of CFD No. 2020-1, and b. An estimate of the cost of providing those public services, including an estimate of the fair and reasonable cost of any incidental expenses to be incurred including costs associated with the creation of the district, and C. A determination of the amount and manner of collection of Special Taxes. NOW, THEREFORE, I, Patrick S. Perinich, authorized representative of Harris & Associates, pursuant to the provisions of the Act, do hereby submit the following report. City of Santa Clarita January 2021 CFD No. 2020-1 (Cooper Street Parking Structure) Community Facilities District Report Page 2 CFD BOUNDARIES The District includes the Cooper Street Parking Structure and an adjacent, nearly half -acre parcel. A copy of the proposed CFD Boundary Map is provided in Appendix A. A copy of the recorded boundary map shall remain on file in the City Clerk's office. PUBLIC FACILITIES AND SERVICES A community facilities district may provide for the purchase, construction, expansion or rehabilitation of any real or other tangible property with an estimated useful life of five (5) years or longer which is necessary to meet increased demands placed upon local agencies as a result of development occurring within a community facilities district. In addition, a community facilities district may provide for the on- going costs for services and infrastructure maintenance as long as those services are in addition to services already received by the property within the district. Public Facilities The public facility to be operated and maintained by the District is the City -owned parking structure located at 17265 Rouse Place in the City of Santa Clarita, commonly known as the Cooper Street Parking Structure (the "Parking Structure"), which has 84 dedicated spaces for the adjacent apartment complex and 529 public parking spaces. Public Services Authorized public services for the District include the operation and maintenance of the Parking Structure, following the terms of the Parking Management Services Agreement by and between the City and the Vista Canyon Property Owners Association (the "Agreement"). Specific operations and maintenance services authorized for the District include, but are not limited to, those listed in the Cost Estimate provided in the Appendix B. All authorized services are in addition to services already received by the property within the District. COST ESTIMATE The estimated costs for the District are detailed in Appendix B. Estimated costs are made for Fiscal Year 2020/21 representing approximately ten months from the time the City acquired the Parking Structure to the end of the fiscal year and for Fiscal Year 2021/22 representing the first full fiscal year of services. • Fiscal Year 2020/21 Estimated Operating and Maintenance Cost $302,421.87 • Fiscal Year 2021/22 Estimated Operating and Maintenance Cost $435,172.02 City of Santa Clarita January 2021 CFD No. 2020-1 (Cooper Street Parking Structure) Community Facilities District Report Page 3 Administrative and incidental expenses of the District are included in the estimated costs. RATE METHOD OF APPORTIONMENT OF SPECIAL TAX The Rate and Method of Apportionment of Special Tax (the "RMA") for the CFD establishes maximum special tax rate that may be levied annually and specific procedures for the determining the amount and apportionment of Special Taxes to be levied annually. A copy of the RMA is included as Appendix C of this Report. MAXIMUM SPECIAL TAX RATE The Maximum Special Tax Rate for Fiscal Year 2020/21 is $37.85 per square foot of Taxable Parcel area as calculated below: i. Direct Operating Costs (from Annual Budget) $435,172 ii. Other Maintenance Costs (10% of Direct Operating Costs) $43,517 iii. Administrative Expenses (included in Annual Budget) $0 iv. Adjustment for Reserves (included in Annual Budget) LO TOTAL SPECIAL TAX REQUIREMENT $478,689 x 50% $239,345 TOTAL MAXIMUM SPECIAL TAX $718,034 TAXABLE SF 18,973 MAXIMUM SPECIAL TAX RATE PER SF $37.85 The Maximum Special Tax Rate is subject to annual escalation equal to the greater of (i) the annual percent increase, as of April 2022 and each April thereafter, in the Bureau of Labor Statistics' Consumer Price Index for All Urban Consumers (CPI-U) for the Los Angeles -Long Beach -Anaheim area or (ii) 3.0% as provided in the RMA. City of Santa Clarita January 2021 CFD No. 2020-1 (Cooper Street Parking Structure) Community Facilities District Report Page 4 MANNER OF COLLECTION For Fiscal Year 2020/21, the special tax in the amount of $302,421.87 shall be billed directly to the property owner for collection. For Fiscal Year 2021/22 and each year thereafter, the amount and apportionment of special taxes shall be determined by following the procedures detailed in the RMA and the special taxes shall be levied and collected in the same manner and at the same time as ordinary ad valorem property taxes. A Supplemental Special Tax may levied and directly billed to owners of Taxable Parcel(s)) during any fiscal year for Non -Budgeted Costs as described in the RMA. City of Santa Clarita January 2021 CFD No. 2020-1 (Cooper Street Parking Structure) Community Facilities District Report Appendix APPENDIX A CFD Boundary Map A copy of the CFD Boundary Map is provided on the following page. 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N 7 u 3 N aA c 1 i a 4J v v v � an v � 0 U R c Q O N N O N N 00 LL N U LL E To 3 — E x Ic a 3 E o — - - — o 3 E E w - _ E. o o " Y-1 Y- 'YYY- V' V' V' .., .., .., .., 71 71 —m 71 71 n � v v -A v v mll m m a �"YY.a m a - o o - _ o cm o - - u I 2 _ _ U U j, a a �„ u a O o . , 2 a u > o: u > _ _ m u u u u u u u . o w w w w w LL." _ LL 0 0 x x _ \ _ \\ { 4 ^ ( t \ \ : - S- \ \ _ ( ® ® ® ®o { } \ \: : : : : - ( \ }oo \ g a = s = . § . . 2 �. \ \ \ } IT } \ k \ \ \ \ \ IT -A \wl } , -A-A , , f± , » » , , » , , , , ± , , , , , , , & wl 2 / < mm I , ,IT, , , , , {E IN . - ƒ j _ lo a = _ « \ k c : ® - ( - [ Eo ) \ _ ! / / \\ \ ) \ \ \ \ \ ) ) \ ) \ o « f City of Santa Clarita January 2021 CFD No. 2020-1 (Cooper Street Parking Structure) Community Facilities District Report Appendix C APPENDIX C Rate and Method of Apportionment A copy of the RMA for the District is provided on the following pages. RATE AND METHOD OF APPORTIONMENT FOR CITY OF SANTA CLARITA COMMUNITY FACILITIES DISTRICT NO. 2020-1 (COOPER STREET PARKING STRUCTURE) A Special Tax as hereinafter defined shall be levied on all Assessor's Parcels in City of Santa Clarita Community Facilities District No. 2020-1 (Cooper Street Parking Structure) ("CFD No. 2020-1" or "CFD") and collected each Fiscal Yearcommencingin Fiscal Year2020/21, in an amount determined by the City Council or its designee, through the application of the Rate and Method of Apportionment ("RMA"), as described below. All of the real property in CFD No. 2020-1, unless exempted by law or by the provisions hereof, shall be taxed for the purposes, to the extent and in the manner herein provided. A. DEFINITIONS The terms hereinafter set forth have the following meanings: "Act" means the Mello -Roos Community Facilities Act of 1982, as amended, being Chapter 2.5, Division 2 of Title 5 of the Government Code of the State of California. "Adjusted Parcel Area" means the adjusted land area that is assigned to Taxable Parcel(s) for purposes of determining the Maximum Special Tax whenever there is a Change in Total Parcel Area. "Administrative Expenses" means the following actual or reasonably estimated costs directly related to the administration of CFD No. 2020-1 that are not included in the Direct Operating Costs. This includes, without limitation, the costs of computing the Special Taxes and preparing the annual Special Tax collection schedules (whether by the City or designee thereof or both); collecting the Special Taxes (whether by the City or otherwise); responding to inquiries regarding the Special Taxes; costs of the City, CFD No. 2020-1 or any designee thereof related to an appeal of any Special Tax levy; and the City's annual administration fees and third party expenses. "Agreement" means Parking Management Services Agreement for Parking Structure No.1 that was executed on October 21, 2020, by and between the City of Santa Clarita and the Vista Canyon Master Association. "Annual Budget" means the budget to be submitted to the City bythe Manager no laterthan March 1 for the following Fiscal Year, as described in Section 5.3 of the Agreement, except for Fiscal Year 2020/21 it means the budget approved during the CFD formation proceedings. "Annual Escalation Factor" means the greater of (i) the annual percent increase, as of April 2022 and each April thereafter, in the Bureau of Labor Statistics' Consumer Price Index for All Urban Consumers (CPI-U) forthe Los Angeles -Long Beach -Anaheim area or (ii) 3.0%. City of Santa Clarita CFD No. 2020-1 November202O (Cooper Street Parking Structure) Page 1 "Assessor's Parcel" means a lot or parcel shown on an Assessor's Parcel Map with an assigned Assessor's parcel number. "Assessor's Parcel Map" means an official map of the Assessor of the County designating parcels by Assessor's Parcel number. "Assessor's Parcel Number or APN" means the number assigned to the Assessor's Parcel by the County Assessor as shown on the Assessor's Parcel Map. "CFD orCFD No. 2020" means City ofSanta Clarita Community Facilities District No. 2020-1(Cooper Street Parking Structure). "CFD Administrator" means an official of the City, ordesignee thereof, responsible fordetermining the Special Tax Requirement, as described in Section I, and providing forthe levy and collection of the Special Taxes. "Change in Total Parcel Area" means any event where Assessor's Parcel(s) change, such as a lot line adjustment, the addition of an easement, or some other change, resulting in the Total Parcel Area not being equal to the Taxable CFD Area (18,973 square feet). "City" means the City of Santa Clarita. "Council" means the City Council of the City of Santa Clarita, acting as the legislative body of CFD No. 2020-1. "County" means the County of Los Angeles, California. "Direct Operating Costs" means the budgeted items in the Annual Budget for any Fiscal Year. "Fiscal Year" means the period starting July 1 and ending on the following June 30. "Manager" means the Vista Canyon Master Association, or its successor, as the operating manager of the Parking Structure. "Maximum Special Tax" means for each Fiscal Year and for each Taxable Parcel, the maximum Special Tax that can be levied by CFD No. 2020-1 on such Taxable Parcel. "Non -Budgeted Costs" means maintenance costs that occur during any Fiscal Year that were not included in the Special Tax Requirement. "Non -Taxable CFD Area" means the area of Lot 7 of Tract Map No. 69164-01 of the City of Santa Clarita, County of Los Angeles, State of California, equal to 61,855 square feet. "Non -Taxable Parcel(s)" means the portion of Assessor's Parcel Number 2840-029-029 representing Lot 7 of Tract Map No. 69164-01 of the City of Santa Clarita, County of Los Angeles, State of California, or its successor parcel(s). "Operating Fund" means a fund that shall be maintained for CFD No. 2020-1 for any Fiscal Year to pay for Direct Operating Costs, Other Maintenance Costs, and Administrative Expenses of the CFD. City of Santa Clarita CFD No. 2020-1 November2020 (Cooper Street Parking Structure) Page 2 "Other Maintenance Costs" means for any Fiscal Year, the estimated costs to maintain and operate the Parking Structure that are not included in the Direct Operating Costs. This includes all labor costs, including benefits and other payroll costs of paid personnel engaged in the operation of the Parking Structure; utility costs; the cost of trash services; any other operations costs described in Section 5.3 of the agreement; and any other Services authorized for the CFD. "Parcel Area" means the land area of an Assessor's Parcel, measured in square feet, as shown on an Assessor's Parcel Map, or if the land area is not identified on an Assessor's Parcel Map, the land area identified on the applicable final map, parcel map, condominium plan, or other recorded County document. "Parking Structure" means the parking facility known as the Cooper Street Parking Garage or Parking Facility 1 located within the Vista Canyon project in the City. . "Proportionately" means that the ratio of the actual Special Tax levy to the Maximum Special Tax is equal for all Taxable Parcel(s) within CFD No. 2020-1. "Reserve Fund(s)" means fund(s) that shall be maintained for CFD No. 2020-1 for accumulating funds to pay for deferred maintenance items that are included in the Annual Budget, or to pay for maintenance costs that are not budgeted. "Service(s)" means maintenance and operations of the Parking Structure which includes, but is not limited to, automated gate maintenance, parking space restriping, concrete repair and elevator maintenance and other operations and maintenance services described in the Agreement. "Special Tax" means any of the special taxes authorized to be levied within CFD No. 2020-1 pursuant to the Act to fund the Special Tax Requirement. "Special Tax Requirement" means for each Fiscal Year, the amount determined for CFD No. 2020- 1 equal to (i) Direct Operating Costs, (ii) Other Maintenance Costs; (iii) Administrative Expenses; and adjustments for the purposes of increasing or decreasing Operating Fund balance and/or the Reserve Fund balance, as determined by the CFD Administrator. "State" means the State of California. "Supplemental Special Tax" means the Special Tax levied pursuant to Section G to fund Non - Budgeted Costs. "Taxable CFD Area" means the area of Lot 8 of Tract Map No. 69164-01 of the City of Santa Clarita, County of Los Angeles, State of California, equal to 18,973 square feet. "Taxable Parcel(s)" means Assessor's Parcel Number2840-029-018 representing Lot 8 of Tract Map No. 69164-01 of the City of Santa Clarita, County of Los Angeles, State of California, or its successor parcel(s). "Taxable Parcel Area" means, initially, the Parcel Area of a Taxable Parcel. If a Change in Total Parcel Area occurs, Taxable Parcel Area will mean the Adjusted Parcel Area of a Taxable Parcel. City of Santa Clarita CFD No. 2020-1 November2020 (Cooper Street Parking Structure) Page 3 "Total Parcel Area" means, at any time, the sum of the Parcel Area of all Taxable Parcel(s) within the CFD. B. DETERMINATION OF TAXABLE PARCELS Each Fiscal Year, commencing with Fiscal Year 2020/21, each Taxable Parcel shall be subject to Special Tax in accordance with the RMA determined pursuant to Sections C , D and E below. All Assessor's Parcels within the boundaries of CFD No. 2020-1, except for Non -Taxable Parcels orthose that are exempt from the Special Tax pursuant to law, shall be considered as Taxable Parcels. C. DETERMINATION OF TAXABLE AREA Each Fiscal Year, the Taxable Parcel Area shall be determined for the Taxable Parcels as follows: If there have been no changes to Taxable Parcels since the inception of the CFD, then the Taxable Parcel Area shall be equal to the Parcel Area for all Taxable Parcels. The Taxable Parcel Area will not change until the first occurrence of a Change in Total Parcel Area, if any. In the Fiscal Year of the first occurrence of a Change in Total Parcel Area, if any, the Adjusted Parcel Area for each Taxable Parcel shall be determined by dividing the Parcel Area of the Taxable Parcel bythe total Parcel Area of all Taxable Parcels and multiplyingthe percentage quotient by the Taxable CFD Area (18,973 square feet). The Taxable Parcel Area shall then be equal to the Adjusted Parcel Area for all Taxable Parcels for such Fiscal Year until there is an occurrence of a Change in Total Parcel Area, if any. iii. For any Fiscal Year thereafter, if there is an occurrence of a Change in Total Parcel Area, the Adjusted Parcel Area foreach Taxable Parcel shall be recalculated in the same manner as in the previous step in order to determine the Taxable Parcel Area. D. MAXIMUM SPECIAL TAX RATE The Fiscal Year 2020/21 Maximum Special Tax Rate for CFD 2020-1 is as follows. $37.85 per square foot of Taxable Parcel Area On each July 1, commencing on July 1, 2021, the Maximum Special Tax Rate shall be increased by an amount equal to the Annual Escalation Factor multiplied by the Maximum Special Tax Rate in effect for the previous Fiscal Year. E. MAXIMUM SPECIAL TAX For each Fiscal Year, the Maximum Special Tax for any Taxable Parcel shall be equal to the Maxim um Special Tax Rate times the Taxable Parcel Area. City of Santa Clarita CFD No. 2020-1 November2020 (Cooper Street Parking Structure) Page 4 F. METHOD OF APPORTIONMENT OF THE SPECIAL TAX For each Fiscal Year, commencing Fiscal Year 2020/21, the City shall levy the Special Tax Proportionately on Taxable Parcels within CFD No. 2020-1, up to a total amount equal to the lesser of the Special Tax Requirement or the Maximum Special Tax. G. SUPPLEMENTAL SPECIAL TAX FOR NON -BUDGETED COSTS During any Fiscal Year, if available funds in the Operating Fund and the Reserve Fund are not sufficient to pay for Non -Budgeted Costs, the City may levy Supplemental Special Taxes Proportionately on Taxable Parcels within CFD No. 2020-1, up an amount equal to the applicable Maximum Special Tax less, the Special Tax previously levied for the Fiscal Year. Any Supplemental Special Tax levy shall be billed directly to property owners for collection 30 days after the date of billing. H. MANNER OF COLLECTION OF THE SPECIAL TAX The Special Tax shall be collected in the same manner and at the same time as ordinary od valorem property taxes, provided, however, that CFD No. 2020-1 may collect the Special Tax at a different time or in a different manner, including direct billing, if necessary to meet its funding requirements. I. DURATION OF THE SPECIAL TAX The Special Tax shall be levied in perpetuity to fund the Special Tax Requirement, unless no longer required as determined at the sole discretion of the Council. J. EXEMPTIONS No parcel(s) shall be exempt from the Special Tax unless exempted by law or designated as Non - Taxable Parcel(s). K. PREPAYMENT OF THE SPECIAL TAX The Special Tax may not be prepaid. L. APPEALS AND INTERPRETATIONS During any Fiscal Year, any landowner who feels that the amount of the Special Taxes levied on their Assessor's Parcel is in error may submit a written appeal to the CFD Administrator, provided that the landowner is current in the payment of the Special Taxes and such written appeal is submitted no laterthan the final day of the Fiscal Year of the appeal. The CFD Administrator shall review the appeal and provide findings to the City. For necessary corrections, no refund shall be given; however, the amount of the Special Taxes levied shall be appropriately in the following Fiscal Year(s). The CFD Administrator may interpret the RMA for purposes of clarifying any ambiguities and make determinations relative to the annual administration of the Special Taxes and any landowner appeals. 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