HomeMy WebLinkAbout2001-06-26 - AGENDA REPORTS - GVR FUNDING (2)CONSENT CALENDAR
DATE:
CITY OF SANTA CLARITA
AGENDA REPORT
June 26, 2001
City Manager Approval:
Item to be presented by:
SUBJECT: GOLDEN VALLEY ROAD FUNDING, CONSTRUCTION, AND
ACQUISITION AGREEMENT AMENDMENT MODIFICATION OF
COMMUNITY FACILITY DISTRICT 99-1
DEPARTMENT: Administrative Services
RECOMMENDED ACTION
City Council adopt Ordinance, modifying Ordinance Nos. CFD 99-1-1 and 99-1-2.
BACKGROUND
In 1998, the City entered into a Development Agreement with Spirit Properties Ltd.
("Spirit") to develop a 200 -acre business park. 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 Hart School District and the Santa Clarita Valley Facilities
Foundation.
Currently, the Phase I portion of Golden Valley Road is nearing completion and is expected
to be finished soon. Phase II and III are the next critical links that will extend Golden
Valley Road north to Soledad Canyon Road. Originally, Phases II and III were to be
funded, using public financing, by establishing a Community Facilities District and issuing
Mello Roos bonds.
Through several public proceedings, the Community Facilities District was formed with the
intent to issue bonds for road construction. Since that time, business conditions changed,
and the idea of publicly financing the road was no longer considered an option for Santa
Clarita Business Park. As a result, Administrative Services, working with the
Transportation and Engineering Services Department and representatives from the Santa
Clarita Business Park, finalized a revised plan for financing and constructing Golden
Valley Road Phases H and III. The document that outlines the plan was adopted on
April 26, 2001, at a special City Council meeting, approving the Amended and Restated
Funding, Construction, and Acquisition Agreement.
Adopted. en -D- C ,q�-t - 3
Agenda Item:
On June 12, a public hearing was held on the proposed changes to the CFD. There was no
majority protest from property owners, and the City Council passed to second reading the
Ordinance, making the necessary modifications to the Community Facilities District.
Tonight, the Council will adopt the Ordinance. The Ordinance will then go into effect 30
days after it is adopted, contingent upon the payment of certain net property B&T fees,
pursuant to the Amended and Restated Funding Agreement.
ALTERNATIVE ACTION
The City Council may choose not to adopt Ordinance modifying Community Facilities
District 99-1.
Other action as determined by the Council.
FISCAL IMPACT
By modifying the CFD boundaries, the District will be assessing a portion of the Santa
Clarita Business Park that will be contributing an additional $2.25 million for the fly -over
crossing Soledad Canyon Road.
ATTACHMENT
Ordinance Amending Ordinance No 99-1-1 and 99-1-2
SS:FO:hds
couniWVRmoMmdan7.dm
Wrlk"ol
AMENDED AND RESTATED
COMMUNITY FACILITIES DISTRICT REPORT
MELLO-ROOS COMMUNITY FACILITIES ACT OF 1982
CITY OF SANTA CLARITA
COMMUNITY FACILITIES DISTRICT NO. 99-1
(SANTA CLARITA BUSINESS PARK)
APRIL 24, 2001
WHEREAS, the City Council of the City of Santa Clarita (hereinafter referred to as the
"Council" did, pursuant to the provisions of the "Mello -Roos Community Facilities Act of
1982," being Chapter 2.5, Part 1, Division 2, Title 5 of the Government Code of the State of
California (hereinafter referred to as the "Act'), and specifically Section 53321.5 thereof,
expressly order and approve a written report in connection with the formation of a community
facilities district known as City of Santa Clarita Community Facilities District No. 99-1 (Santa
Clarita Business Park) (hereinafter referred to as "CFD No. 99-1") and
WHEREAS, said report was amended and restated on April 20, 2000, and, pursuant to a
Resolution of Consideration of Certain Changes to the CFD No. 99-1 (the "Resolution of
Consideration") adopted by the Council is hereby again amended and restated (the "Amended
Report") to propose (a) the elimination of certain property from the District; (b) the substitution
of public facilities; (c) the modification of the rate and method of apportionment and, (d) the
elimination of authorized debt for CFD No. 99-1; and
WHEREAS, the Resolution of Intention of the Council to Establish Community Facilities
District No. 99-1 (Santa Clarita Business Park) and to Authorize the Levy a Special Tax within
Community Facilities No. 99-1 (hereinafter referred to as the "Resolution of Intention") and the
Resolution of Consideration did direct that said Report generally contain the following:
1. A brief description of the public facilities by type which are to be
!— substituted and which are required to meet the needs of CFD No. 99-1;
and
2. An estimate of the cost for providing the public facilities and an estimate
of the fair and reasonable cost of completed facilities.
NOW, THEREFORE, I the Director of Administrative Services, on behalf of the officers of the
City of Santa Clarita, directed to prepare this Amended Report or cause this Amended Report to
be prepared pursuant to the provisions of the Act, do hereby submit this Amended Report.
II.
The purpose of CFD No. 99-1 is to finance a portion of the design, construction, improvement
and/or acquisition of certain public facilities consisting of an interchange which benefit the
property within CFD No. 99-1. The public facilities to be financed by CFD No. 99-1 are
described in Section III below.
CFD No. 99-1 is proposed to be amended to consist of approximately 65 gross acres, thereby
eliminating the Ruether Avenue Business Park project and certain other parcels currently within
the boundaries of CFD No. 99-1. An amended boundary map for CFD No. 99-1 is described in
Section VI below.
10�1 III. DESCRIPTION AND ESTIMATED COST OF PROPOSED FACILITIES
A. Description of Proposed Public Improvements
A CFD may provide for the purchase, construction, expansion or rehabilitation of any real or
tangible property, including public facilities and infrastructure improvements, with an estimated
useful life of five (5) years or longer, which is necessary to meet the increased demands placed
upon local agencies as a result of development or rehabilitation occurring within the community
facilities district. In addition, a CFD may pay in full all amounts necessary to eliminate any
fixed special assessment liens or to pay, repay, defease any obligation to pay for any
indebtedness secured by any tax, fee, charge or assessment levied within the area of the CFD.
The facilities described in this Amended Report are all facilities which the City or a public
agency is authorized to own, construct or contribute revenue to, and which are required, in part,
to meet the needs of CFD No. 99-1.
The improvements which may be financed consist of road improvements for the intersection at
Golden Valley Road and Soledad Canyon Road, bounded by the northern tract line of Tentative
Tract 42670 at Golden Valley Road through the on and off -ramps of the bridge structure to
Soledad Canyon Road and any direct or indirect interim improvements constructed to facilitate
the above-described road improvements, including the widening of the at -grade crossing of
Soledad Canyon Road and Golden Oak Road, Ruether Avenue and Rainbow Glen Drive. These
improvements shall be either an at -grade crossing or a grade separation crossing and shall
�- improve access between Soledad Canyon Road and the property located within CFD No. 99-1.
The improvements do not include any extension of Golden Valley Road that crosses over the
Santa Clara River or connects to Newhall Ranch Road or any portion thereof. The
improvements do include direct and indirect incidental expenses for the public facilities
including the costs of planning and designing the public facilities, environmental evaluations,
and administering CFD No. 99-1.
This list of facilities is substituted for the list of facilities described in earlier reports and shall be
the only facilities authorized for CFD No. 99-1. It is not anticipated that CFD funds shall be
adequate to finance all authorized facilities. The Special Taxes required to pay for a portion of
the design, construction, acquisition or financing of said facilities will be apportioned as
described in the Amended Rate and Method of Apportionment of the Special Tax for CFD No.
99-1.
B. Estimated Cost of Proposed Public Improvements
The facilities and the estimated costs herein are subject to review and confirmation. The costs
listed in Table 1 below are estimates only, based upon current construction estimates and the
actual approved type of structure for the improvements and their actual costs may differ from
those estimates herein. It is not anticipated that CFD funds shall be adequate to finance all
improvement costs.
TABLE 1
Improvements(a)
Estimated Cost
Golden Valley Road/Soledad Canyon Road Interchange
Design
$ 1,000,000
Right -of Way
6,900,000
Construction
15,830,000
Construction Management/Inspection
1,000,000
Contingency (20% of Construction)
3,166,000
SubTotal
$27,896,000
Interim Improvements(b)
$ 400,000
TOTAL
$28,296,000
(a) Costs are based on a grade -separated crossing. The ultimate City -approved structure may be
either an at -grade crossing or a grade -separation crossing.
(b) Consists of widening of the at -grade crossing of Soledad Canyon Road and Golden Oak
Road, Ruether Avenue and Rainbow Glen Drive.
IV.
The maximum authorized bonded indebtedness for CFD No. 99-1 is $0. Upon recordation of the
amended lien for CFD No. 99-1, the previously authorized bonded indebtedness is eliminated.
V. RATE AND METHOD OF APPORTIONMENT OF THE SPECIAL TAX
All of the property located within CFD No. 99-1, unless exempted by law or by the Amended
Rate and Method, shall be taxed for the purpose of providing a portion of the authorized
facilities. Pursuant to Section 53325.3 of the Act, the tax imposed "is a special tax and not a
special assessment, and there is no requirement that the tax be apportioned on the basis of benefit
to any property." The Special Tax "may be based on benefit received by parcels of real property,
the cost of making facilities or authorized services available to each parcel, or other reasonable
basis determined by the legislative body," although the Special Tax may not be apportioned on
an ad valorem basis pursuant to Article XIIIA of the California Constitution.
As shown on Exhibit A, the adopted Amended Rate and Method of Apportionment provides
information sufficient to allow each property owner within CFD No. 99-1 to estimate the
maximum Special Tax he or she will be required to pay.
VI. BOUNDARIES OF COMMUNITY FACILITIES DISTRICT
The boundaries of CFD No. 99-1 include all land on which the Special Taxes may be levied. A
map of the area included within CFD No. 99-1 is provided as Exhibit B.
VII. GENERAL TERMS AND CONDITIONS
A. Substitute Facilities
The description of the public facilities, as set forth herein, is general in nature. The final nature,
location, and costs of improvements and facilities will be determined upon the preparation of
final plans and specifications. The final plans and specifications may show substitutes, in lieu of
or modifications to the proposed work in order to accomplish the work of improvement, and any
such substitution shall not be a change or modification in the proceedings as long as the facilities
provide a service substantially similar to that set forth in this Amended Report.
B. Appeals
Any landowner that feels the amount of the Special Tax is in error may file a written notice with
CFD No. 99-1 appealing the levy of the Special Tax. As appropriate, a representative of CFD
No. 99-1 will then review the appeal and, if necessary, meet the appellant. If the findings of the
representative verify that the amount of the Special Tax should be modified or changed, then, as
appropriate, the Council or its designee may correct the Special Tax levy.
C. Prepayment of Special Tax
The Special Tax applicable to an Assessor's Parcel may be prepaid in whole or in part prior to
the date such tax is due. An owner of an Assessor's Parcel intending to prepay shall provide
CFD No 99-1 with written notice of intent to prepay. With respect to an Assessor's Parcel which
is fully prepaid or has made payment in full, CFD No. 99-1 shall cause a suitable notice to be
recorded in compliance with the Act, to indicate full prepayment or payment in full of the
Special Tax and release of the Special Tax lien on such Assessor's Parcel, and the obligation of
such Assessor's Parcel to pay the Special Tax shall cease.
i" EXHIBIT A
AMENDED RATE AND METHOD OF APPORTIONMENT
The Special Tax in full as set forth on the following table for each Assessor's Parcel shall be due
and payable to CFD No. 99-1 immediately prior to the issuance of a building permit by the City
of Santa Clarita for such Assessor's Parcel.
An "Assessor's Parcel" shall mean a lot or parcel shown in an official map of the County
Assessor for the County of Los Angeles designating parcels by Assessor's parcel numbers.
The Special Taxes have been allocated based on gross acreage of the Assessor's Parcel. An
Assessor's Parcel may be split into one or more new Assessor's Parcels and the Special Tax
assigned to the original Assessor's Parcel shall be allocated to the new Assessor's Parcels
proportionately based on gross acreage.
The following Table sets forth the amount of the Special Tax due for each Assessor's Parcel.
CFD #
Assessor's
Parcel #
Gross
Acreage
Special Tax /
Gross Acre
Special Tax
Due
1
2836-015-02_ Lot 1
10.280
$34,313.65
$352,745.24
2
2836-015-02_ Lot 2
5.950
$34,313.65
$204,166.66
3
2836-015-02_ Lot 3
4.080
$34,313.65
$140,000.15
4
2836-015-02_ Lot 4
2.863
$34,313.65
$ 98,236.03
5
2836-015-02_Lot 5
3.880
$34,313.65
$133,137.41
6
2836-015-02_ Lot 6
3.470
$34,313.65
$119,068.46
7
2836-015-02_Lot 7
3.940
$34,313.65
$135,195.76
8
2836-015-02_ Lot 8
4.290
$34,313.65
$147,205.56
9
2836-015-02_ Lot 9
4.100
$34,313.65
$140,686.27
10
2836-015-02 Lot 10
4.440
$34,313.65
$152,352.62
11
2836-015-02_ Lot 79
6.480
$34,313.65
$222,352.62
12
2836-015-02_ Lot 80
5.440
$34,313.65
$186,666.34
13
2836-015-02_ Lot 81
5.630
$34,313.65
$193,186.42
64.843
$2,225,000.00
N
A
500 0
rm�_.- -
EXHIBIT B AMENDED BOUNDARY
"AFFF= PAR="
LOTS 1-10 & 79-81
73
12
Acre
Site
61
70
TR.
The following Table sets forth the amount of the Special Tax due for each Assessor's Parcel.
Special Tax /
Assessor's Parcel
Gross
Gross Square
Gross Square
CFD #
Number
Acreage
Footage
Footage
Special Tax Due
1
2836-015-02_
Lot 1
10.28
447,796.80
$34,699.20
$356,707.78
2
2836-015-02_
Lot 2
5.95
259,182.00
$34,699.20
$206,460.24
3
2836-015-02_
Lot 3
4.08
177,724.80
$34,699.20
$141,572.74
4
2836-015-02_
Lot 4
2.863
124,712.28
$34,699.20
$99,343.81
5
2836-015-02_
Lot 5
3.88
169,012.80
$34,699.20
$134,632.90
6
2836-015-02_
Lot 6
3.47
151,153.20
$34,699.20
$120,406.22
7
2836-015-02_
Lot 7
3.94
171,626.40
$34,699.20
$136,714.85
8
2836-015-02_
Lot 8
4.29
186,872.40
$34,699.20
$148,859.57
9
2836-015-02_
Lot 9
4.1
178,596.00
$34,699.20
$142,266.72
10
2836-015-02_
Lot 10
4.44
193,406.40
$34,699.20
$154,064.45
11
2836-015-02_
Lot 79
6.48
282,268.80
$34,699.20
$224,850.82
12
2836-015-02_
Lot 80
5.44
236,966.40
$34,699.20
$188,763.65
13
2836-015-02_
Lot 81
5.63
245,242.80
$34,699.20
$195.356.50
64.843
2,824,561.08
$2,250,000.23
Golden Valley Road Costs
(From Sierra Highway to Soledad Canyon Road)
PHASE
Revenue Amount
County Bridge & Thoroughfare Fees $ 2,900,000
City Bridge & Thoroughfare Fees $ 4,600,000
City General Fund Loan $ 4,000,000
Total $ 11,500,000
Expenditures
Utilities
$
1,000,000
Design
$
935,000
Right -of -Way
$
175,000
Construction
$
6,982,860
Administration and Inspection
$
1,070,000
Total
$
10,162,860
PHASE II
SCBP Bridge & Thoroughfare Fees
$
Revenue
Construction work deferred from GVR Phase I-
SCBP Bridge & Thoroughfare Fees
$
350,000
Advance for B&T Credit
$
2,650;000
Total
$
3,000,000
Expenditure
SCBP in lieu B&T construction costs
$ 3.000.000
Amount
Total
$
3,000,000
Phase II
PHASE III
1,500,000
Phase III
$ 6.421.550
Revenue
$
19,421,550
Budget Funds for 12 Acre Site
$
2,300,000
SCBP Bridge & Thoroughfare Fees
$
1,188,000
Construction work deferred from GVR Phase I-
$
1,337,140
(Sewer construction to school site, fund from Phase 1)
B & T Fees and Developer Fees for Traffic Signal
$
250,000
Golden Valley Road Interim Improvement Project
$
1,346,050
Total
$
6,421,190
Expenditure
Ci_yt
Foundation
Estimated Design, Admin, Inspection
$
537,900
$ 501,290
Phase III Estimated Construction Costs
$
3,427,700
$ 2,116,230
Phase I Estimated Construction Costs (Deferred)
$
1,337,140
$ 509,800
Traffic Signal @ GVR & Sierra Highway
$
280,900
$
City Contingency
$
837,550
$ -
Total
$
6,421,190
$ 3,127,320
Golden Valley Road
Amount
Phase 1
$
11,500,000
Phase II
$
1,500,000
Phase III
$ 6.421.550
Total
$
19,421,550
trank/GVRE%P&REV
RECEIVED AND MADE A
PART OF THE RECORD AT
� 19 (- L -1 -MEETING
ITEM NO. I T
FROM: t�-
PUBLIC NOTICE
NOTICE IS HEREBY GIVEN that on June 26, 2001, the City Council of the City of Santa
Clarita adopted Ordinance CFD 99-1-3 entitled:
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. 99-1 (SANTA CLARITA
BUSINESS PARK) AMENDING ORDINANCE NOS. CFD 99-1-1 AND 99-1-2
by the following vote:
AYES: Kellar, Ferry, Smyth, Darcy, Weste
NOES: None
ABSENT: None
A certified copy of the complete text of the ordinance is posted and may be read in the City
Clerk's Office, 23920 Valencia Boulevard, Suite 301, Santa Clarita, and/or a copy may be
obtained from that office.
Dated this 28' day of June, 2001.
Sharon L. Dawson, CMC, City Clerk
City of Santa Clarita
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
CITY OF SANTA CLARITA
Sharon L. Dawson, being first duly sworn, deposes and says that she is the duly
appointed and qualified City Clerk of the City of Santa Clarita and that by Thursday, June 28,
2001, she caused a certified copy of the subject ordinance to be posted and made available for
public review in the City Clerk's office and a copy of the ordinance summary to be published as
required by law.
Sharon L. Dawson, CMC, City Clerk
City of Santa Clarita