HomeMy WebLinkAbout2000-01-25 - AGENDA REPORTS - GVR ANNEX CFD99-1 CHANGES (2)CITY OF SANTA CLARITA
AGENDA REPORT
City Manager Approval
Item to be presentdd by: Steve Stark
UNFINISHED BUSINESS
DATE: January 25, 2000
SUBJECT: GOLDEN VALLEY ROAD RESOLUTION OF ANNEXATION
AND CONSIDERATION OF CHANGES TO CFD 99-1
DEPARTMENT: Administrative Services
City Council adopt Resolution, approving the annexation of certain parcels to the
City of Santa Clarita Community Facilities District (CFD) No. 99-1, and consider
reducing the scope of certain facilities in CFD No. 99-1, change the rate and method
of apportionment, and reduce the authorized bonded indebtedness to $18 million.
In 1998, the City entered into a Development Agreement with Spirit Properties Ltd.
(Spirit) to develop a 200 -acre business park at Golden Valley Road and Golden
Triangle Road. On August 4, 1999, the City entered into a Funding, Construction,
and Acquisition Agreement (the Funding Agreement) with Spirit, which provided
that the City construct Phase I of the Golden Valley Road extension (in conjunction
with the William S. Hart School District and the Santa Clarita Valley Facilities
Foundation).
Further, the agreement provides that Spirit and PacTen Partners (its proposed
buyers) will construct Phases II and III of the Golden Valley Road extension. The
Funding Agreement states that the City will use its best efforts to form a Mello -Roos
Community Facilities District for the purpose of funding Phases II and III of the
Golden Valley Road extension (up to Spirit's B&T obligation) as well as certain in -
tract improvements for the business park.
Since then, the City has worked with the developer to secure public bond financing
as part of the development. On November 9, 1999, the Council held a public hearing
and had a landowner election that formed the district and authorized the levy of a
special tax. The formation process was complete on November 30, 1999, after the
City Council adopted an ordinance authorizing the levy of a special tax. Staff
scheduled the next portion of the bond issuance for sometime in December 1999.
Adopfed:,&5o - on -z,3 A go ref re I a ROM M01F
GOLDEN VALLEY ROAD RESOLUTION
OF ANNEXATION AND CONSIDERATION
OF CHANGES TO CFD 99-1
January 25, 2000
Page 2
However, while finalizing the financial documents, Spirit and PacTen Partners
decided the value of public financing their project's in -tract infrastructure was
marginal compared to seeking private financing. As a result, they chose to ask the
Council to lower the bond limit to $18 million from the original $33 million. The
new amount will still allow Spirit to construct Phases II & III of Golden Valley Road
and a small portion of their in -tract infrastructure. In addition to lowering the bond
amount, Spirit is asking that the Council also annex certain properties into
CFD 99-1.
As part of the above changes, a new special tax report will be prepared, along with
all other financial documents. Currently, staff is working closely with the City's
financial advisors in finalizing the necessary paperwork to sell bonds. As part of the
process, staff will be bringing a resolution, authorizing the issuance and sale of
bonds, to the City Council for approval on February 22, 2000. Staff will also be
asking the Council to approve a Fiscal Agent Agreement, Continuing Disclosure
Agreement, Bond Purchase Agreement, and a Preliminary Official Statement,
including draft Appraisal Report and Absorption Study. All the agreements are
necessary and standard financial documents for taking a bond sale to the market.
ALTERNATIVE ACTION
Council may choose not to approve the changes, which would leave the debt limit at
$33 million and not allow for additional parcels to be included in the CFD.
Other action as determined by Council.
FISCAL IMPACT
The developer will pay the cost of the new special tax formula report. The City is
still obligated to pay for its portion of the formation of the CFD. If the Council
approves of lowering the bonding limit to $18 million, this new amount will be
spread throughout the district.
ATTACHMENT
Revised Special Tax Report (Available in City Clerk's reading file.)
Resolution
SS:FO:hds
., - w=W\gvrmedr
TO: CITY COUNCIL OF THE CITY OF SANTA CLARITA
FROM: LANDOWNER REQUESTING ANNEXATION
CONSENT TO ANNEXATION TO CITY OF SANTA CLARITA
COMMUNITY FACILITY DISTRICT NO. 99-1 (SANTA CLARITA BUSINESS PARK)
AND ACKNOWLEDGMENT OF LIEN
The undersigned landowner does hereby certify under penalty of perjury that the
following statements are all true and correct:
The undersigned are duly authorized to represent the Ruether Avenue Business Park,
Inc., a California corporation (the "Company") and possess all authority necessary
to execute this Consent to Annexation.
2. The Company is the present sole owner and holder of title to certain real property (the
"Property") as described on Exhibit "A" attached hereto. The Property consists of
38.2 acres and was designated as future annexation area to the City of Santa Clarita
Community Facilities District No. 99-1 (Santa Clarita Business Park) (the "CFD")
formed under the provisions of the "Mello -Roos Community Facilities Act of 1982"
(the "Act"), being Chapter 2.5 of Part 1 of Division 2 of title 5 (commencing with
Section 53311) of the California Government Code.
On or about August 12, 1999, the Spirit Properties, LTD., entered into a Funding,
Construction and Acquisition Agreement (the "Agreement") with the City of Santa
Clarita (the "City")and the CFD.
4. On September 28, 1999, the legislative body of the CFD adopted Resolution No. 99-
164 declaring its intent to provide for the future annexation of the Property. The
CFD adopted a report which described the Property, specified the type of facilities
to be provided, and specified a rate and method of apportionment of special taxes for
the Property.
On September 28, 1999, the legislative body of the CFD adopted Resolution No. 99-
165 declaring its intent to issue special tax bonds in an amount not to exceed
$33,000,000 to finance a portion of the facilities for the Property and the other
property within the CFD.
6. On November 9, 1999, the legislative body of the CFD conducted a consolidated,
noticed public hearing pursuant to Sections 53339.5 and 53349 of the Act, in which
all persons desiring to be heard on all matters pertaining to the designation of the
MG01310/09901298/PETITION.DOC
Property for future annexation, the levy of the special tax, the proposed rate and
method of apportionment of the special tax therein, the authorization of the issuance
of special tax bonds and all other matters as set forth in Resolution Nos. 99-164 and
99-165, were heard and a full and fair hearing was held.
At the conclusion of the hearing and pursuant to Section 53339.7 of the Act, the
legislative body of the CFD determined to provide for the annexation of the Property
upon the approval of the owners of each parcel of the Property. The rate and method
of apportionment, the facilities and the incurrence of the special tax bonds are as
specified in the Amended Report prepared by David Taussig & Associates and filed
with the CFD on November 9, 1999.
8. The Company and the appropriate officers thereof were made aware of the November
9, 1999 public hearing held by the City regarding the designation of the Property as
future annexation to the CFD. The Company agrees that it was represented at said
meeting and such presence represented notice thereof.
9. The Company and the appropriate officers of thereof have received necessary and
relevant information regarding the annexation of the Property to the CFD, the
imposition of the special tax and the issuance of indebtedness by the CFD from the
City and the City has made available to the Company sufficient opportunity to obtain
such information.
10. The Company hereby consents to and approves the annexation of the Property to the
CFD, which annexation shall now be referred to as "Annexation No. 1 of the CFD."
11. The map entitled "Amended Boundary of Community Facilities District No. 99-1
(Santa Clarita Business Park) City of Santa Clarita, County of Los Angeles, State of
California" which was recorded by the County Recorder for the County of Los
Angeles on 1999 shall now be amended to designate the boundaries
of the Property as "Annexation No. 1," and shall constitute the boundaries of
Annexation No. 1.
12. The Company hereby acknowledges that upon the recording of an amended notice
of special tax lien pursuant to Streets and Highways Code Sections 3114.5 and
3117.5, a continuing lien to secure each levy of the special tax will attach to all
nonexempt real property within the Property, and the lien shall continue in force and
effect until the special tax obligation is prepaid and permanently satisfied and the lien
canceled in accordance with law or until the collection of the special tax by the
legislative body ceases.
MG01310/09901298/PETITION.DOC
IN WITNESS WHEREOF, I hereunto set my hand this 1-4- day of
Ruether Avenue Business Park, Inc.
a California corporation
M
ACKNOWLEDGE:
MORTGAGOR: DATED:
Print or Type Name(s) of Trust Deed Holders
0
Its:
FILED IN THE OFFICE OF THE CITY CLERK OF THE CITY COUNCIL OF THE CITY OF
SANTA CLARITA THIS 25t' DAY OF January, 2000.
I ';�
City Clerk of the City Council of the
City of Santa Clarita
MG01310/09901298/PETITION.DOC
EXHIBIT A
PROPERTY OF ANNEXATION NO.1
APN 2836-018-024, 2836-018-025, 2836-018-026, 2836-018-038
MG01310/09901298/PETITION.DOC
TO: CITY COUNCIL OF THE CITY OF SANTA CLARITA
FROM: LANDOWNER REQUESTING CHANGES TO CFD NO. 99-1
REQUEST FOR CERTAIN CHANGES AND WAIVER OF CERTAIN
ELECTION PROCEDURES AND TIME REQUIREMENTS
WITH RESPECT TO LANDOWNER ELECTION
The undersigned landowner does hereby certify under penalty of perjury that the following
statements are all true and correct:
The undersigned are authorized to represent the landowner identified below and are its
designated representatives to petition the City Council (the "City Council") of the City with
respect to changes to the City of Santa Clarita Community Facilities District No. 99-1 (Santa
Clarita Business Park) (the "CFD") formed under the provisions of the "Mello -Roos
Community Facilities Act of 1982" (the "Act"), being Chapter 2.5 of Part 1 of Division 2 of
title 5 (commencing with Section 53311) of the California Government Code, over the
properties included within this petition.
2. The undersigned hereby certify that as of the date indicated opposite their signatures,
the landowner listed herein is the sole owner of property within the boundaries of the CFD.
The undersigned, pursuant to Section 53332 of the Act, hereby requests that
proceedings be commenced to (i) to eliminate certain facilities that the CFD is authorized to
own, operate or contribute revenue to, (ii) modify the rate and method of apportionment of
the special tax of the CFD, and (iii) reduce the amount of authorization of bonds for the
CFD.
4. The landowner hereby appoints Peter Tartaelino as its authorized representative
to vote in the election referred to herein and certifies that his or her true and exact signature
is set forth below:
5. The undersigned hereby certifies that as of the date indicated opposite its signature, the
landowner listed herein is the owner of approximately 38.2 acres of land within the
proposed boundaries of the CFD, such property further described in Exhibit "A" hereto (the
"Property"). There are no registered voters residing within the Property and have been none
MG01310/09901298/PETITION.DOC
during the 90 -day period preceding the February 22, 2000 public hearing conducted by the
City Council pursuant to Government Code Section 53325.
6. On or about January 10, 2000, the landowner and the appropriate officers thereof were
made aware of the February 22, 2000 public hearing to be held regarding the change of the
facilities for the CFD, the modification to the rate and method of apportionment and the
reduction in the amount of authorized indebtedness of the CFD. The landowner agrees that
it received adequate notice of the hearing. The landowner and the appropriate officers
thereof have received necessary and relevant information regarding these issues from the
City and the City has made available to the landowner sufficient opportunity to obtain such
information.
7. In accordance with the provisions of the Act, and specifically Sections 53326(a) and
53327(b) thereof allowing certain time and conduct requirements relative to a special
landowner election to be waived with the unanimous consent of all the landowners to be
included in a community facilities district and concurrence of the election official conducting
the election, the undersigned (i) expressly consents to the conduct of the special election at
the earliest possible time the conduct of the public hearing and (ii) expressly waives any
requirement to have the special election conducted within the time periods specified in
Section 53326 of the Act or in the California Elections Code.
8. The undersigned waives any requirement for the mailing of the ballot for the special
election and expressly agree that said election may be conducted by mailed or hand -delivered
ballot to be returned as quickly as possible to the designated election official, being the office
of the City Clerk of the City Council and the undersigned request that the results of said
election be canvassed and reported to the City Council at the same meeting of the City
Council as the public hearing on the formation of the CFD or the next available meeting.
9. The undersigned expressly waives all applicable waiting periods for the election and
waives the requirement for analysis and arguments relating to the special election, as set forth
in Section 53327 of the Act, and consents to not having such materials provided to the
landowner in the ballot packet, and expressly waives any requirements as to the form of the
ballot.
10. The undersigned expressly waives all notice requirements relating to hearings and
special elections, whether by posting, publishing or mailing, and whether such requirements
are found in the California Elections Code, the California Government Code or other laws
or procedures, including but limited to any notice provided for by compliance with the
provisions of Section 4101 of the California Elections Code.
11. The undersigned hereby consents to and expressly waives any and all claims based on
any irregularity, error, mistake or departure from the provisions of the Act or other laws of
the State and any and all laws and requirements incorporated therein, and no step or action
MG01310/09901298/PETITION.DOC 6
in any proceeding relative to the CFD or the special election therein shall be invalidated or
affected by any such irregularity, error, mistake or departure.
12. The undersigned hereby represents that compliance with the procedural requirements
for conducting the election, including the receipt of any ballot arguments and the time
limitations which apply in connection with scheduling and mailing and publishing notices
of such an election, are unnecessary in light of the fact that the undersigned has received
sufficient information of the proposed changes for CFD.
IN WITNESS WHEREOF, I unto set my hand this day of,��,, jeQuo.
Ruether Avenue Business Park, Inc.
California corporation
ACKNOWLEDGE:
MORTGAGOR: DATED:
Print or Type Name(s) of Trust Deed Holders
In
Its:
Filed in the office of the City Clerk of the City of Santa Clarita on January 25, 2000.
By: -\Z" X
[name]
MG01310/09901298/PETITION.DOC 7
EXHIBIT A
PROPERTY OF THE CFD
APN 2836-018-024,2836-018-025,2836-018-026,2836-018-038
MG01310/09901298/PETITION.DOC
TO: CITY COUNCIL OF THE CITY OF SANTA CLARITA
FROM: LANDOWNER REQUESTING CHANGES TO CFD NO. 99-1
REQUEST FOR CERTAIN CHANGES AND WAIVER OF CERTAIN
ELECTION PROCEDURES AND TIME REQUIREMENTS
WITH RESPECT TO LANDOWNER ELECTION
The undersigned landowner does hereby certify under penalty of perjury that the following
statements are all true and correct:
The undersigned are authorized to represent the landowner identified below and are its
designated representatives to petition the City Council (the "City Council") of the City with
respect to changes to the City of Santa Clarita Community Facilities District No. 99-1 (Santa
Clarita Business Park) (the ACFD@) formed under the provisions of the "Mello -Roos
Community Facilities Act of 1982" (the "Act"), being Chapter 2.5 of Part 1 of Division 2 of
title 5 (commencing with Section 53311) of the California Government Code, over the
properties included within this petition.
2. The undersigned hereby certify that as of the date indicated opposite their signatures,
the landowner listed herein is the sole owner of property within the boundaries of the CFD.
The undersigned, pursuant to Section 53332 of the Act, hereby requests that
proceedings be commenced to (i) to eliminate certain facilities that the CFD is authorized to
own, operate or contribute revenue to, (ii) modify the rate and method of apportionment of
the special tax of the CFD, and (iii) reduce the amount of authorization of bonds for the
CFD.
4. The landowner hereby appoints Larry Rasmussen as its authorized
representative to vote in the election referred to herein and certifies that his or her true and
exact signature is �set forth below: R-I4tSArJSs-_ L I2.S1400
5. The undersigned hereby certifies that as of the date indicated opposite its signature, the
landowner listed herein is the owner of approximately 25b acres of land within the
proposed boundaries of the CFD, such property further described in Exhibit "A" hereto (the
"Property"). There are no registered voters residing within the Property and have been none
during the 90 -day period preceding the February 22, 2000 public hearing conducted by the
City Council pursuant to Government Code Section 53325.
MG01310/O9901298/PETITION FORCHANGSCBP.DOC
6. On or about January 10, 2000, the landowner and the appropriate officers thereof were
made aware of the February 22, 2000 public hearing to be held regarding the change of the
facilities for the CFD, the modification to the rate and method of apportionment and the
reduction in the amount of authorized indebtedness of the CFD. The landowner agrees that
it received adequate notice of the hearing. The landowner and the appropriate officers
thereof have received necessary and relevant information regarding these issues from the
City and the City has made available to the landowner sufficient opportunity to obtain such
information.
7. In accordance with the provisions of the Act, and specifically Sections 53326(a) and
53327(b) thereof allowing certain time and conduct requirements relative to a special
landowner election to be waived with the unanimous consent of all the landowners to be
included in a community facilities district and concurrence of the election official conducting
the election, the undersigned (i) expressly consents to the conduct of the special election at
the earliest possible time the conduct of the public hearing and (ii) expressly waives any
requirement to have the special election conducted within the time periods specified in
Section 53326 of the Act or in the California Elections Code.
8. The undersigned waives any requirement for the mailing of the ballot for the special
election and expressly agree that said election may be conducted by mailed or hand -delivered
ballot to be returned as quickly as possible to the designated election official, being the office
of the City Clerk of the City Council and the undersigned request that the results of said
election be canvassed and reported to the City Council at the same meeting of the City
Council as the public hearing on the formation of the CFD or the next available meeting.
9. The undersigned expressly waives all applicable waiting periods for the election and
waives the requirement for analysis and arguments relating to the special election, as set forth
in Section 53327 of the Act, and consents to not having such materials provided to the
landowner in the ballot packet, and expressly waives any requirements as to the form of the
ballot.
10. The undersigned expressly waives all notice requirements relating to hearings and
special elections, whether by posting, publishing or mailing, and whether such requirements
are found in the California Elections Code, the California Government Code or other laws
or procedures, including but limited to any notice provided for by compliance with the
provisions of Section 4101 of the California Elections Code.
11. The undersigned hereby consents to and expressly waives any and all claims based on
any irregularity, error, mistake or departure from the provisions of the Act or other laws of
the State and any and all laws and requirements incorporated therein, and no step or action
in any proceeding relative to the CFD or the special election therein shall be invalidated or
affected by any such irregularity, error, mistake or departure.
MG01310/09901298/PETITIONFORCHANGSCBP.DOC 5
12. The undersigned hereby represents that compliance with the procedural requirements
for conducting the election, including the receipt of any ballot arguments and the time
limitations which apply in connection with scheduling and mailing and publishing notices
of such an election, are unnecessary in light of the fact that the undersigned has received
sufficient information of the proposed changes for CFD.
IN WITNESS WHEREOF, I unto set my hand this —1�— day of vaI Z000.
SPIRIT PROPERTIES, LTD.
California corporation
By: 4rg4..4 IwS s L I Z--10-6
Name: Lar<v �asrvu55�
Title: President
By:
Name:
Title: Secretary
ACKNOWLEDGE:
MORTGAGOR: DATED:
Print or Type Name(s) of Trust Deed Holders
Un
Its:
Filed in the office of the City Clerk of the City of Santa Clarita on January 25, 2000.
By: V A
[name]
MG01310/09901298/PETITIONFORCHANGSCBP.DOC
EXHIBIT A
PROPERTY OF THE CFD
APN 2836-015-027
2836-015-028
2836-016-003
2836-016-017
2836-017-041
2836-017-050
2836-017-053
2836-018-028
MG01310/09901298/PETITION FORCHANGSCBP.DOC