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HomeMy WebLinkAboutD-2123 Notice of Special Tax Lien - San Luis Ranch Community Facilities District No 2019-1IVEr)RECORDING REQUESTED BY ANLRECE AY16 2019 AFTER RECORDATION RETURN CITY CLERK_ City Clerk City of San Luis Obispo 990 Palm Street San Luis Obispo, California 93401 `019013548 Tammy Gong San Luis Obispo - County Clerk -Recorder 04/16/2019 12:30 PM Recorded at the request of: PUBLIC Titles: 1 Pages: 27 Fees: $0.00 Taxes: $0.00 Total: $0.00 NOTICE OF SPECIAL TAX LIEN CITY OF SAN LUIS OBISPO COMMUNITY FACILITIES DISTRICT NO. 2019-1 (SAN LUIS RANCH) Pursuant to the requirements of Section 3114.5 of the California Streets and Highways Code and Section 53328.3 of the Mello -Roos Community Facilities Act of 1982 (the "Act"), the undersigned City Clerk of the City of San Luis Obispo (the "City"), State of California, hereby gives notice that a lien to secure payment of a special tax is hereby imposed by the City Council of the City, State of California. The special tax secured by this lien is authorized to be levied for the purpose of (a) paying the principal of and interest on bonds, the proceeds of which are being used to finance the facilities described on Exhibit A attached hereto and hereby made a part hereof, and (b) providing such facilities. The special tax is authorized to be levied within the City of San Luis Obispo Community Facilities District No. 2019-1 (San Luis Ranch) (the "Community Facilities District") that has now been officially formed and the lien of the special tax is a continuing lien that shall secure each annual levy of the special tax and which shall continue in force and effect until the special tax obligation is prepaid, permanently satisfied and canceled in accordance with law or until the special tax ceases to be levied and a notice of cessation of special tax is recorded in accordance with Section 53330.5 of the Act. The rate, method of apportionment, and manner of collection of the authorized special tax is as set forth in Exhibit B attached hereto and hereby made a part hereof. Conditions under which the obligation to pay the special tax for facilities may be prepaid and permanently satisfied and the lien of such special tax canceled are as set forth in Exhibit B hereto. Notice is further given that upon the recording of this notice in the office of the County Recorder of the County of San Luis Obispo, the obligation to pay the special tax levy shall become a lien upon all nonexempt real property within the Community Facilities District in accordance with Section 3115.5 of the California Streets and Highways Code. The name(s) of the owner(s) and the assessor's tax parcel number(s) of the real property included within the Community Facilities District and not exempt from the special tax are as set forth in Exhibit C attached hereto and hereby made a part hereof. Reference is made to the boundary map of the Community Facilities District recorded at Book 6 of Maps of Assessment and Community Facilities Districts at Page 12, in the office of 4158-9011-2794.2 9 -L\ -Z,'3 the County Recorder for the County of San Luis Obispo, State of California, which map is now the final boundary map of the District. For further information concerning the current and estimated future tax liability of owners or purchasers of real property subject to this special tax lien, interested persons should contact the Community Development Director of the City of San Luis Obispo, 990 Palm Street, San Luis Obispo, California 93401, (805) 781-7109. Dated: April 2, 2019 By. Teresa Purrington, Cit)OC erk 4158-9011-2794.2 EXHIBIT A FACILITIES In addition to the facilities described below, other expenses incidental to the below and authorized by the Act, including but not limited to: the cost of planning, permitting, and designing the facilities (including the cost of environmental evaluation, orthophotography, environmental remediation/mitigation); land acquisition and easement payments for the facilities; project management; construction staking; engineering studies and reports; utility relocation and demolition costs incidental to construction of the facilities, wetland/species mitigation purchase; reimbursements to other areas for infrastructure facilities or planning serving development in the Community Facilities District; legal, engineering, technical studies costs related to the facilities and any other expenses incidental to the construction, completion, and inspection of the facilities. Transportation Improvements Public roadway and bikeway improvements designed to meet the needs of the project, including those improvements identified in the San Luis Ranch Financing Plan, including but not limited to: Item # Item ROADWAYS 1 Froom Ranch Way (Prado to Oceanaire) Including Bridge 2 Froom Ranch Way (Oceanaire to Target Driveway) 3 Froom Ranch Way & LOVR Intersection Widening 4 Prado Road/US 101 Overpass and North Bound Lanes 5 Prado Road Southbound Ramps 6 Madonna & Dalidio/Prado Intersection Widening OTHER AREA ROADWAYS (MITIGATIONS) 7 Madonna & SB 101 Off Ramp - Lengthen EB Left Turn Pocket 8 Madonna & Oceanaire Pedestrian X-ing Enhancements 9 Madonna & San Luis Ranch Way Pedestrian X-ing Enhancement 10 LOVR & SB 101 Off Ramp - Lengthen Left Turn Pocket 11 LOVR & Higuera - Lengthen EB Right Turn Pocket 12 Higuera & South - Lengthen NB Right Turn Pocket OTHER AREA ROADWAY MITIGATIONS - FEE ONLY PROJECTS 13 Prado & Higuera Widening 14 Madonna Rd @ LOVR - Signal Timing Optimization 15 Madonna & Oceanaire Turn Lane Extensions 16 Madonna & LOVR - Turn Lane Extensions 17 LOVR & Auto Park Way Signalization 18 Higuera & Tank Farm - Lengthen NB Right Turn Pocket SLR BIKEWAYS 19 Prado Road Class I Path (Madonna to Froom) 20 Madonna Road Class I Path / Protected bikeway (Hwy 101 to Oceanaire) 21 Bob Jones Trail (Calle Joaquin to Froom Ranch Road) SLR BIKEWAYS - FEE ONLY PROJECTS 22 Prado Road Class I Path (NB Ramps to Higuera) 23 Bob Jones Trail (Madonna to Prado) A-1 4158-9011-2794.2 Eligible roadway improvements include the following items: acquisition of land and easements; roadway design; project management; geotechnical engineering, testing and observations; bridge crossings and culverts; clearing, grubbing, and demolition; grading, soil import/export, paving (including slurry seal), and decorative/enhanced pavement concrete or pavers; power pole relocations; joint trenches, underground utilities, and undergrounding of existing utilities; dry utilities and appurtenances; curbs, gutters, sidewalks, bike trails (including on- and off-site), park and ride facilities, bus rapid transit improvements, including transfer stations and regional public transit improvements; retaining walls, sound walls, enhanced fencing, and access ramps; street lights, signalization, and traffic signal control systems; bus turnouts; signs and striping; erosion control; median and parkway landscaping and irrigation; entry monumentation; bus shelters; masonry walls; and other improvements related thereto. Eligible improvements for the roads listed above also include any and all necessary underground potable and non -potable water, sanitary sewer, and storm drainage system improvements. Potable and Non -Potable Water System Improvements Authorized facilities include any and all on- and off-site backbone water facilities designed to meet the needs of development of the project. These facilities include potable and non -potable mains, valves, services, and appurtenances; wells; and water treatment and storage facilities, and related improvements, including but not limited to: site clearing, grading, and paving; curbs and gutters; recycled water storage tanks, booster pump stations, and all appurtenances thereto; wells; water treatment; stand-by generator; site lighting, drainage, sanitary sewer, and water service; landscaping and irrigation; access gates and fencing; striping and signage; and the following: ■ Water lines in/associated with authorized facility roads. ► Recycled water lines in/associated with authorized facility roads. Drainage System Improvements Authorized facilities include any and all on- and off-site backbone drainage and storm drainage improvements designed to meet the needs of development of the project. These facilities include mains, pipelines and appurtenances, outfalls and water quality measures, temporary drainage facilities, detention/retention basins, and drainage pretreatment facilities; drainage ways/channels, pump stations, landscaping, and irrigation; access roads, gates, and fencing; striping and signage; and the following: • All storm drain lines and facilities in/associated with authorized facility roadways. I • Retention, detention, hydro -modification, and other drainage facilities. Wastewater System Improvements Authorized facilities include any and all on- and off-site backbone wastewater facilities designed to meet the needs of development of the project. These facilities include pipelines and all A-2 4158-9011-2794.2 appurtenances thereto; manholes; tie-in to existing main line; force mains; lift stations; odor - control facilities; sewer treatment plant improvements and permitting related thereto; and related sewer system improvements, including but not limited to: • All wastewater facilities in/associated with authorized facility roadways. Solid Waste Improvements Authorized facilities include any and all backbone solid waste improvements designed to meet the needs of development of the project. Park and Landscape Corridor Improvements Authorized facilities include any and all improvements to parks and landscape corridors located in the project. Open Space Improvements Authorized facilities include any and all open space improvements designed to meet the needs of development of the project, including bike trails, bike/pedestrian bridges, storm drain crossings, storm drain detention/retention, wetland mitigation, tree mitigation, agricultural mitigation or wetland mitigation, property acquisition, endowment payments for open space management, landscaping and irrigation, access gates and fencing, and related open space improvements. Utilities Authorized facilities include any and all on- and off-site utility improvements designed to meet the needs of development of the project, including but not limited to: • New 24" HDPE Sewer Trunk Line. All utility improvements, easement payments, and land acquisition not located under or alongside transportation improvements are considered authorized facilities. A-3 4158-9011-2794.2 FORMATION, ADMINISTRATIVE AND INCIDENTAL EXPENSES It is anticipated that the following incidental expenses may be incurred for the Community Facilities District: Engineering services Special tax consultant services City review and administration Bond counsel services Bond counsel expenses Disclosure counsel services Disclosure counsel expenses Independent municipal advisor services and expenses Appraiser services Market absorption study and real estate economist services Initial bond transfer agent, fiscal agent, registrar and paying agent fees Rebate calculation service set up charge Bond printing Offering memorandum printing and mailing costs Publishing, mailing and posting of notices Underwriter's discount Bond reserve fund Capitalized interest Bond syndication costs Governmental notification and filing costs Credit enhancement costs Real estate acquisition costs Rating agency fees Charges and fees of City other than those waived Certain annual costs may be included in each annual special tax levy. These include: Annual bond transfer agent, fiscal agent, registrar and paying agent fees Annual rebate calculation costs Special tax consultant costs and administration expenses Other necessary consultant costs Costs of posting and collecting the special taxes Personnel and Administrative costs of the City Arbitrage rebate Continuing disclosure reporting and compliance A-4 4158-9011-2794.2 EXHIBIT B AMENDED AND RESTATED RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX B-1 4158-9011-2794.2 City of San Luis Obispo Community Facilities District No. 2019-1 (San Luis Ranch) San Luis Obispo County, California AMENDED AND RESTATED RATE, METHOD OF APPORTIONMENT, AND MANNER OF COLLECTION OF SPECIAL TAX 1. Basis of Special Tax Levy A Special Tax authorized under the Mello -Roos Community Facilities Act of 1982 (Act) applicable to the land in the City of San Luis Obispo Community Facilities District No. 2019-1 (San Luis Ranch) (CFD) of the City of San Luis Obispo (City) shall be levied and collected according to the tax liability determined by the City through the application of the appropriate amount or rate, as described below. 2. Definitions "Acre" or "Acreage" means the land area of an Assessor's Parcel as shown on an Assessor's Parcel Map, or if the land area is not shown on an Assessor's Parcel Map, the land area shown on the applicable final map or other Development Plan. "Act" means the Mello -Roos Community Facilities Act of 1982, as amended, Sections 53311 and following of the California Government Code. "Administrative Expenses" means the actual or reasonably estimated costs related to the administration of the CFD, including, but not limited to, these: a. Costs of computing Special Taxes and preparing annual Special Tax collection schedules (whether by the City or any designee thereof or both). b. Costs of collecting the Special Taxes (whether by the County, the City, or otherwise). c. Costs of remitting the Special Taxes to the Trustee. d. Costs of the Trustee (including its legal counsel) in the discharge of the duties required of it under the Bond Indenture. e. Costs to the City, CFD, or any designee thereof of complying with arbitrage rebate requirements. f. Costs to the City, CFD, or any designee thereof of complying with City, CFD, or obligated persons disclosure requirements. g. Costs associated with preparing Special Tax disclosure statements. Economic & Planning Systems, Inc. (EPS) Rate, Method of Apportionment, and Manner of Collection of Special Tax Exhibit A March 7, 2019 h. Costs incurred in responding to public inquiries regarding the Special Taxes. i. Costs to the City, CFD, or designee thereof related to any appeal of the Special Taxes. j. Costs associated with the release of funds from an escrow account, if any. k. Costs to the City for the issuance of Bonds authorized by the CFD that are not recovered through the Bond sale proceeds. Amounts estimated to be advanced or already advanced by the City for any other administrative purposes, including attorney's fees and other costs related to collection of the Special Taxes and commencing and pursuing to completion any foreclosure of delinquent Special Taxes. "Administrator" means the City Manager of the City, or his or her designee. "Annual Costs" means, for any Fiscal Year, the total of these: a. Administrative Expenses for such Fiscal Year. b. Debt Service to be paid from Special Taxes during the Bond Year commencing during such Fiscal Year. c. The amount needed to pay other periodic costs on the Bonds, including but not limited to credit enhancement and any rebate payments on the Bonds. d. The amount needed to replenish the reserve fund for the Bonds to the level required under the Bond Indenture, to the extent not included in a computation of Annual Costs in a previous Fiscal Year. e. The amount needed to (1) cure any delinquencies in the payment of principal or interest on Bonds, which have occurred in the prior Fiscal Year, to the extent not otherwise included in a computation of Annual Costs in the current or any previous Fiscal Year, and (2) to fund any foreseeable deficiency of the amount to be available for the payment of principal or interest on Bonds, which are expected to occur in such Fiscal Year, to the extent not included in a computation of Annual Costs in the current or any previous Fiscal Yea r. f. The amount needed to (1) cure any delinquencies in the payment of the Special Tax in the prior Fiscal Year, to the extent not otherwise included in a computation of Annual Costs in the current or any previous Fiscal Year, and (2) to fund any foreseeable deficiency in the payment of the Special Tax for that Fiscal Year which is expected to occur in such Fiscal Year, to the extent not included in a computation of Annual Costs in the current or any previous Fiscal Year. g. Costs of acquisition, construction, and improvements of Authorized Facilities to be funded on a Pay -As -You -Go Basis, in amounts determined by the Administrator. h. Less any Capitalized Interest and any credits provided under a Bond Indenture. Economic & Planning Systems, Inc. (EPS) 2 Rate, Method of Apportionment, and Manner of Collection of Special Tax Exhibit A March 7, 2019 Less any available earnings on the reserve fund, Special Tax funds, available capitalized interest or any other available revenues of the CFD or the City that may be used to fund Annual Costs, to the extent determined by the Administrator. "Anticipated Construction Pro a s" means the amount anticipated to be available through the CFD for acquiring or constructing Authorized Facilities, which is equal to $14.0 million at formation of the CFD. This amount is increased on July 1 of the current Fiscal Year for the ,prior calendar year by the average increase in the ENR -CCI. "Assessor's Pgrcel" means a lot or Parcel with an assigned Assessor's Parcel Number in the maps used by the County Assessor in preparing the tax roll. "Assessor'sParcel Map" means an official map of the County Assessor designating Parcels by Assessor's Parcel Number. "Assessor's Parcel Number" means the parcel identification as assigned by the County Assessor on the equalized tax roll. "Authorized Facilities" means those facilities and fees to be financed by the CFD. "Base Year" means the Fiscal Year beginning July 1, 2018, and ending June 30, 2019. "Benefit Share" means the Maximum Annual Special Tax for a Parcel divided by the Maximum Annual Special Tax Revenue for all Taxable Parcels and their assigned Maximum Annual Special Tax. "Bond(s)" means any bond(s) issued by the CFD under the Act and any other debt, as defined in the Act, payable from the Special Tax for the CFD. "Bond Indenture" means the indenture, resolution, fiscal agent agreement, or other financing document pursuant to which any Bonds are issued. "Bond Share" means the share of Outstanding Bonds assigned to a Parcel as specified in Section 7 hereof. "Building Per i " means a permit issued by the City for the construction of a Residential Use or Nonresidential Use. "Building Square Fool(agel" has the same meaning as that defined for the School Mitigation Fee by California Government Code Section 65995 for "Assessable Space," which is "all of the square footage within the perimeter of a residential structure, not including any carport, walkway, garage, overhang, patio, enclosed patio, detached accessory structure, or similar area" as determined by the "as built" size of the structure for the initial Building Permit. Future additions to Residential Units are not to be considered for potential increases to the Special Tax. "Capitalized Intereg " means funds in any capitalized interest fund available to pay debt service on Bonds. "CFD" means Community Facilities District No. 2019-1 (San Luis Ranch) of the City. "City" means the City of San Luis Obispo in San Luis Obispo County, California. "Council" means the City Council of the City acting for the CFD under the Act. Economic & Planning Systems, Inc. (EPS) 3 Rate, Method of Apportionment, and Manner of Collection of Special Tax Exhibit A March 7, 2019 "County" means the County of San Luis Obispo, California. 'Debt Service" means the total annual amount of Bond principal, interest, and the scheduled sinking fund payments of the Bonds in a calendar year. "Developed Parcel" means, in any Fiscal Year: a. For Single -Family Parcels: All Parcels for which a Building Permit for a Residential Use structure which consists of a single-family house that was issued before May 1 of the preceding Fiscal Year. b. For Multifamily Parcels: All Parcels for which a Building Permit for new construction of a Residential Use structure, other than a single-family house, that was issued before May 1 of the preceding Fiscal Year. Once a Parcel is defined as a Developed Parcel it shall be taxed as such under the provisions of this RMA. "Development Plan" means a condominium plan, apartment plan, site plan, or other development plan that identifies such information as the type of structure, acreage, square footage, or number of Units that are approved to be developed on Residential Use Parcels. "ENR -CCI" means the Engineering News Record—Construction Cost Index for Los Angeles in the prior calendar year, as determined on July 1 of the current Fiscal Year. "Final Map Parcel" means a Parcel designated for development of a single-family residence, which is part of a Final Subdivision Map as of May 1 of the preceding Fiscal Year. The Minimum Annual Special Tax for Final Map Parcels is shown in Attachment 1 by Tax Category. "Final Subdivision Map" means a recorded map designating the final Parcel Subdivision for individual Single -Family Parcels. "Fiscal Year" means the period starting July 1 and ending the following June 30. "Full Prepayment" means the complete fulfillment of a Parcel's Special Tax obligation, as determined by following the procedures in Section 7. "Lot Number" means the numeric designation for all Parcels shown in Map 1 and Attachment 1 at formation of the CFD. "Market -Rate Unit" means a Unit that is not a Workforce/Affordable Unit. "Maximum Annual Special Tax" means the maximum amount of Special Taxes assigned to a Taxable Parcel, as applicable by Tax Category. "Maximum Annual Special Tax Revenue" means the greatest amount of Special Tax that can be collected in total from a group of Parcels (such as Developed Parcels) by levying the Maximum Annual Special Tax. "Minimum Annual Special Tax" means the minimum amount of Special Tax as assigned to Taxable Parcels, shown in Attachment 1, at formation of the CFD. Economic & Planning Systems, Inc. (EPS) 4 Rate, Method of Apportionment, and Manner of Collection of Special Tax Exhibit A March 7, 2019 "Multifamily For -Rent" or "Multifamily For -Rent Parcel" means any Parcel designated or developed for more than one residential dwelling Unit per Parcel and where such units are initially offered for rent to the general public and cannot be purchased by individual homeowners. Such uses may consist of apartments or structures such as duplexes or triplexes. Each residential dwelliniq Unit within Multifamily For -Rent or Multifamily For -Rent Parcels is nof expected to have its own distinct Assessor's Parcel Number. "MultifamilyFor-Sale" or "Multifamily For -Sale Parcel" means any Parcel designated or developed for more than one residential dwelling Unit within a single building or structure and that may share at least one common wall where such units are not initially offered for rent to the general public and initially may be offered for sale to individual homeowners. Such uses may consist of condominiums, townhouses, or buildings such as half-plexes or time-share units. Multifamily Far -Sale Parcels are anticipated to have their own distinct Assessor's Parcel Number as is the case in residential condominium prajects. Once designated as Multifamily For -Sale or Multifamily For -Sale Parcel, the Parcel shall remain so designated unless the original structures are demolished. "Nonresidential Use" means a Taxable Parcel zoned for land uses other than Residential Uses, such as hotel, commercial, office, or retail. Nonresidential Uses planned at CFD formation are tax-exempt. "Original Parcel" means a Parcel identified in Attachment 1 and Map 1 by Lot Number at formation of the CFD. "Outstanding Bonds" means the total principal amount of Bonds that have been issued and not fully repaid or legally defeased. "Parcel" means any Assessor's Parcel in the CFD based on the equalized tax rolls of the County as of January 1 of each Fiscal Year. "Partial Prepayment" means the partial fulfillment of a Parcel's Special Tax obligation, as determined by following the procedures in Section 7. "Pay -As -You -Go Basis" means that of the use of Special Tax revenues to directly fund the costs of acquisition, construction, and improvement of Authorized Facilities not financed by Bonds, as a part of an acquisition agreement or funding agreement with the City. "Prepayment" means the partial or complete fulfillment of a Parcel's Special Tax obligation, as determined by following the procedures in Section 7. "Proportionately" means that the ratio of the actual Special Tax levy to the Maximum Annual Special Tax is equal for all Developed Parcels. For Final Map Parcels, Proportionately means that the ratio of the actual Special Tax levy to the Maximum Annual Special Tax is equal for all Final Map Parcels. For Undeveloped Parcels, Proportionately means that the ratio of the actual Special Tax levy to the Maximum Annual Special Tax is equal for all Undeveloped Parcels. "Public Parcel" means any Parcel that is or is intended to be publicly owned, as designated in any final map, that is normally exempt from the levy of general ad valorem property taxes under California law, including, but not limited to, public streets, schools, parks, and public drainageways, landscaping, wetlands, greenbelts, and open space. Economic & Planning Systems, Inc. (EPS) 5 Rate, Method of Apportionment, and Manner of Collection of Special Tax Exhibit A March 7, 2019 "Remainder Parcel" means a portion of a unit of land that is created as a result of the recording of a Final Subdivision Map or other Subdivision, which results in a designated remainder as defined in Government Code Section 66424.6(a) (Remainder Parcel). Such a Remainder Parcel may contain taxable and tax-exempt uses, such as Residential Uses, and Public Parcels, such as park sites. "Remaining Facilities Costs" means the amount of Anticipated Construction Proceeds less construction proceeds from previous Bond issuances and less costs of Authorized Facilities funded on a Pay -As -You -Go Basis from the levy of the Special Tax. "Remaining Facilities Cost Share" means the Remaining Facilities Costs multiplied by the Benefit Share. "Rgsery Fund" means any debt service reserve fund established pursuant to the Bond Indenture. "Resetyg FLInd n " means the amount required to be held in any Reserve Fund. "Reserve Fund Share" means the amount on deposit in any Reserve Fund, but in any event not to exceed the Reserve Fund Requirement, multiplied by the Benefit Share for a given Parcel. "Residential Ilse" means a Parcel designated for residential use, such as single-family residential Units, residential condominiums, townhouses, or apartments. "RMA" means this Rate, Method of Apportionment, and Manner of Collection of Special Tax. "Single -Family Parcel" means, in any Fiscal Year, all Parcels in the CFD for which a building permit was issued or may be issued for construction of a Unit that is a single-family residential, residential condominium, or townhouse Unit. "Special Tax(es)" mean(s) any tax levy under the Act in the CFD. "Subdivision" or "Subdivided" means a division of a Parcel into two or more Parcels through Parcel reconfiguration, lot -line adjustments, or the Subdivision Map Act process. A Subdivision also may include the merging of two or more Parcels to create new Parcels. "Successor Parcel" means a Parcel created by the Subdivision of an Original Parcel or a Successor Parcel. "IM -Ca tegory" means the categories of taxable land uses shown in Attachments 1 and 2. "Tax Collection Schedule" means the document prepared by the Administrator for the County Auditor -Controller to use in levying and collecting the Special Taxes each Fiscal Year. "Tax Escalation Factor" means a factor of 2 percent by which the Maximum Annual Special Tax and Minimum Annual Special shall be increased annually following the Base Year. "Taxable Acreage" means that area of a Parcel determined by the Administrator to become a Taxable Parcel or Parcels upon further Subdivision. An example might be that a Final Subdivision Map creates a Remainder Parcel that, according to Attachment 1, contains both taxable uses and tax-exempt uses. "Taxable Parcel" means any Parcel that is not a Tax -Exempt Parcel. Economic & Planning Systems, Inc. (EPS) Rate, Method of Apportionment, and Manner of Collection of Special Tax Exhibit A March 7, 2019 "Tax -Exempt Parcel" means a Parcel not subject to the annual Special Tax. Tax -Exempt Parcels include (a) Nonresidential Use Parcels at the time of CFD formation, (b) Multifamily For - Rent Parcels at the time of CFD formation, (c) Public Parcels, and (d) Parcels owned by the City, school districts, special districts, or the state or federal government. A Taxable Parcel that is acquired by a public agency, the Parcel shall remain a Taxable Parcel as per the provisions of Section 4.m. Certain privately -owned Parcels also may be exempt from the levy of annual Special Taxes, including common areas owned by homeowner's associations or property owner associations, wetlands, detention basins, water quality ponds, and open space, as determined by the Administrator. "Trustee" means a national banking association organized and existing under the laws of the United States acting as a trustee or fiscal agent for Bonds. "Undeveloled Parcel" means a Taxable Parcel that is not a Developed Parcel or Final Map Parcel. "Unit" means, for a Single -Family Parcel, the individual residential unit on such Parcel, or for a Multifamily For -Rent Parcel or Multifamily For -Sale Parcel, an individual residential unit in a multifamily building. "Workforce/Affordable Unit(s)" means Residential Use Units identified in Attachment 1 by Tax Category. If there are a greater number of Units for which Building Permits are to be issued within a Tax Category, the Administrator shall require that the Maximum Annual Special Tax is prepaid in fill using the Prepayment procedures in Section 7. 3. Duration of the Special Tax The Special Tax will be levied and collected for as long as it is needed to pay Annual Costs; however, in no event shall the Special Tax be levied on any Parcel in the CFD after Fiscal Year 2062-63. When all Authorized Facilities and other Annual Costs incurred by the CFD have been paid, the Special Taxes shall cease to be levied. The City shall direct the County Recorder to record a Notice of Cessation of Special Tax. Such notice will state that the obligation to pay the Special Tax has ceased and that the lien imposed by the Notice of Special Tax Lien is extinguished. In addition, the Notice of Cessation of Special Tax shall identify the book and page of the Book of Maps of Assessment and Community Facilities Districts where the map of the boundaries of the CFD is recorded. 4. Administrative Tasks Tasks required of the Administrator are discussed below: a. Annual Special Tax Escalation. The Administrator shall increase the Minimum Annual Special Tax and Maximum Annual Special Tax (for Developed Parcels, Final Map Parcels, and Undeveloped Parcels) by the Tax Escalation Factor in all Fiscal Years following the Base Year. b. Assignment of the Minimum Annual Special Tax and Maximum Annual Special Tax to Qrioinal Parcels. A Final Subdivision Map has been approved by the City creating all Taxable Parcels. Economic & Planning Systems, Inc. (EPS) 7 Rate, Method of Apportionment, and Manner of Collection of Special Tax Exhibit A March 7, 2019 Attachment 1 identifies the Minimum Annual Special Tax and Maximum Annual Special Tax for each Original Parcel and Lot Number at CFD formation, as shown in Attachment 1. The Minimum Annual Special Tax for a Final Map Parcel is determined for each Tax Category and planned Building Square Footage per Unit based on the Minimum Annual Special Tax per Unit times the number of assigned Units for each Tax Category at CFD formation. The Minimum Annual Special Tax for an Undeveloped Parcel (Lot 1) is determined by multiplying the Minimum Annual Special Tax per Acre times the Acreage of the Parcel. The Maximum Annual Special Tax is determined for each Tax Category and planned Building Square Footage per Unit based on the Maximum Annual Special Tax per Unit times the number of assigned Units for each Tax Category at CFD formation. Map 1 shows the location of expected future Parcels in each Tax Category. Future Parcels are identified in Map 1 by land use designations and final map lot numbers. The Minimum Annual Special Tax assigned at CFD formation to each Original Parcel shall not be reduced as a result of future development approvals. The following procedures provide instructions for the assignment of the Minimum Annual Special Tax and Maximum Annual Special Tax as the CFD is built out. Once the Minimum Annual Special Tax and Maximum Annual Special Tax is assigned to a Parcel, it shall remain subject to that Special Tax unless fully prepaid using the provisions of Section 7, or the Special Taxes are transferred to another Parcel using the provisions of Section 4.i. c. Assignment of the Minimum Annual Special Tax and Maximum Annual Special Tax upon Recordation of a Final Subd€vision Mao-: Attachment 1 assigns the number of anticipated Units for each Tax Category. If upon recordation of the Final Subdivision Map there are fewer Units created, perform the following procedures to assign the Minimum Annual Special Tax and Maximum Annual Special Taxes to Final Map Parcels. 1. Identify the number of Units assigned to the Tax Category by Building Square Footage range and Minimum Annual Special Tax and Maximum Annual Special Tax assigned to the Original or Successor Parcel in Attachment 1. (Assume that the number of Workforce/Affordable Units remain the same for each Tax Category). 2. Identify the number of Units created by the Final Subdivision Map for each Tax Category. 3. Reduce the number of Units shown in Attachment 1 for the Tax Category and Building Square Footage range by reducing the Units assigned to each Building Square Footage range equally until the total Units for the Tax Category match the Units created by the Final Subdivision Map. If the number of Units that must be reduced is an odd number, apply the remaining Unit reduction to the lower Building Square Footage range for the Tax Category. 4. Proportionately increase the Minimum Annual Special Tax per Unit and Maximum Annual Special Tax per Unit such that the amounts for each Taxable Parcel, when summed, equals the Minimum Annual Special Tax and Maximum Annual Special Tax assigned to the Original or Successor Parcel immediately prior Economic & Planning Systems, Inc. (EPS) 8 ��. w.�;,.��.� ,..,.......,„..,... Rate, Method of Apportionment, and Manner of Collection of Special Tax Exhibit A March 7, 2019 to such calculation. The Administrator shall update Attachment 1 showing the newly assigned Minimum Annual Special Tax and Maximum Annual Special Tax per Unit and to the Original or Successor Parcel. 5. If the number of Units are greater than or equal to the Units assigned in Attachment 1, assign the Maximum Annual Special Tax and Maximum Annual Special Tax per Unit as shown in Attachment 1. There shall be no loss of Minimum Annual Special Tax or Maximum Annual Special Tax for an Original or Successor Parcel as a result of the recordation of the final map. Assignment of the Maximum Annual Special Tax to Single -Family Parcels at Building Permit Issuance: At issuance of a Building Permit for Residential Uses, assign the Maximum Annual Special Tax shown in Attachment 1 for the Tax Category and Building Square Footage Range to the Taxable Parcel. In assigning the Maximum Annual Special Tax to the Developed Parcel, the Minimum Annual Special Tax may remain equal to the Maximum Annual Special Tax, or may be increased from the Minimum Annual Special Tax based upon the Building Square Footage identified in the Building Permit. The amount of the assigned Special Tax shall not decrease upon issuance of a Building Permit. e. Assignment of -the Minimum Annual Special Tax and Maximum Annual Special Tax to Multifamily__ For -Sale Parcels at Building Permit Issuance: At formation of the CFD, the Minimum Annual Special Tax and Maximum Annual Special Tax, as shown in Attachment 1 for the Tax Category and Building Square Footage range, is assigned to each of the 135 Units assigned to Lot 1, as shown in Map 1. The sum of the Minimum Annual Special Tax and the sum of the Maximum Annual Special Tax for each Unit is the amount of each Special Tax assigned to Lot 1 at formation. As one or more Building Permits are issued for the construction of the Units, use the following procedures to assign the Minimum Annual Special Tax and Maximum Annual Special Tax to Taxable Parcels. 1. Identify the Minimum Annual Special Tax and Maximum Annual Special Tax assigned to Lot 1 in Attachment 1. 2. At issuance of a Building Permit for Multifamily For -Sale Parcels, assign the Maximum Annual Special Tax per Unit, as shown in Attachment 1 for the Tax Category and Building Square Footage range, to each Unit as shown in the Building Permit. 3. If the Building Permit has been issued to construct all planned Units (as shown in Attachment 1) for Lot 1, sum the Maximum Annual Special Tax assigned to each Unit. 4. If the sum of the amounts in Step 4.e.3 is equal to, or greater than, the amount of Maximum Annual Special Tax identified in Step 4.e.1, assign this Maximum Annual Special Tax to each Unit. S. If the sum of the amounts in Step 4.e.3 is less than the amount identified in Step 4.e.1, Proportionately increase the Maximum Annual Special Tax per Unit for each Unit until the sum of the amount of the Maximum Annual Special Tax for each Unit is equal to the Economic & Planning Systems, Inc. (EPS) 9 Rate, Method of Apportionment, and Manner of Collection of Special Tax Exhibit A March 7, 2019 amount identified in Step 4.e.1. The Administrator shall update Attachment 1 showing the newly assigned Maximum Annual Special Tax per Unit and to the Original or Successor Parcel. 6. If the construction of the proposed 135 Units is a phased build out over more than one Fiscal Year, assign the Maximum Annual Special Tax to Developed Parcels based upon the Building Square Footage of each Unit to each Unit (as shown in the Building Permit). a. Multiply the Maximum Annual Special Tax for each Unit (as shown in Attachment 1) times the number of Units identified in the Building Permit. Subtract the amount of Maximum Annual Special Tax from Step 4.e.6.a the amount of Maximum Annual Special Tax identified in Step 4.e.1. Assign this amount as the Maximum Annual Special Tax to be assigned to the Remainder Pa rce I c, Repeat the above procedures in the following Fiscal Year(s) to assign the Minimum Annual Special Tax and Maximum Annual Special Tax to the remaining Units assigned to the Remainder Parcel until the Special Taxes are assigned to 135 Units, or the Administrator determines that all Units have been constructed for Lot 1. M_u_itifamily Far -Rent Parcels Developed as Multifamily For -Sale Parcels: Lot 2 shown in Map 1 is designated under the RMA as a Multifamily For -Rent Parcel which is a Tax -Exempt Parcel. If Units identified in Attachment 1 as Multifamily For -Rent are developed as Multifamily For - Sale Parcels, assign the Minimum Annual Special Tax per Unit and Maximum Annual Special Tax per Unit to such Parcels using the amounts shown in Attachment 2 for the appropriate Building Square Footage of each Taxable Parcel. If a Nonresidential Use Original or Successor Parcel is Subdivided creating Residential Use Parcels: When Nonresidential Use Parcels shown in Attachment 1 are Subdivided into Successor Parcels that are Residential Use, use the procedure below to assign the Minimum Annual Special Tax and Maximum Annual Special Tax to Parcels. 1. Identify the Minimum Annual Special Tax and Maximum Annual Special Tax for the Tax Category shown in Attachment 2 for the proposed Residential Uses. Assign the Minimum Annual Special Tax and Maximum Annual Special Tax to each planned Unit. Reassignment of the Minimum Anneal Special Tax and Maximum Annual Special Tax upon Land Use Change or Remappinq: If there is a land use change or remapping of Parcels shown in Map 1, the Maximum Annual Special Tax and Maximum Annual Special Tax will be reassigned to newly created Parcels using the following procedures. Identify all Taxable Parcels in Attachment 1 and on Map 1 that are subject to the land use change or remapping. Economic & Planning Systems, Inc. (EPS) 10 Rate, Method of Apportionment, and Manner of Collection of Special Tax Exhibit A March 7, 2019 2. Calculate the Minimum Annual Special Tax and Maximum Annual Special Tax (by Building Square Footage range) for all Taxable Parcels identified in Step 4.h.1. 3. Identify land use categories for remapped Taxable Parcels. 4. Assign the corresponding Minimum Annual Special Tax and Maximum Annual Special Tax to remapped Taxable Parcels based upon Tax Categories and Building Square Footage ranges identified in Attachment 2. 5. Calculate the Minimum Annual Special Tax and Maximum Annual Special Tax for all Taxable Parcels from Step 4.h.4. 6. If the amount of the Minimum Annual Special Tax and Maximum Annual Special Tax from Step 4.h.2 is less than the amount summed in Step 4.h.4, assign the Minimum Annual Special Tax and Maximum Annual Special Tax per Unit (increased by the Tax Escalation Factor to the current Fiscal Year) to each Taxable Parcel. 7. If the amount of the Minimum Annual Special Tax and Maximum Annual Special Tax from Step 4.17.2 is greater than the amount summed in Step 4.h.4, increase the Minimum Annual Special Tax and Maximum Annual Special Tax per Unit (increased by the Tax Escalation Factor to the current Fiscal Year) Proportionately for each Taxable Parcel until the sum of the Minimum Annual Special Tax and Maximum Annual Special Tax for all Taxable Parcels is equal to the amount summed in Step 4.h.2. Workforce/Affordable Units Assigned at Formation of the CFD: For each Tax Category, the RMA assigns a number of Units defined as Workforce/Affordable Units. If there are more Workforce/Affordable Units constructed within a Tax Category than shown in Attachment 1, the Administrator shall require that the Maximum Annual Special Tax be prepaid using the provisions of Section 7. The Maximum Annual Special Tax for the Workforce/Affordable Units is assigned using Tax Categories in Attachment 2. Workforce/Affordabie Units that Become Market -Rate Units. If, in any Fiscal Year, the Administrator, or his or her designee, determines that a Unit that previously had been designated as a Workforce/Affordable Unit no longer qualifies as such, the Administrator shall assign the Minimum Annual Special Tax and Maximum Annual Special Tax per Unit based on their Tax Category and Building Square Footage range as shown in Attachment 2, as adjusted by the Tax Escalation Factor. k. Transfer of the Special_ Tax_ from Taxable Parcel to Another. The Minimum Annual Special Tax and Maximum Annual Special Taxes shown in Attachment 1 were determined based on the expected Tax Categories for each Original Parcel shown in Attachment 1. If the number of planned residential Units is transferred from one Original or Successor Parcel to another, the City may, in its sole discretion, allow for a transfer of the Minimum Annual Special Tax and Maximum Annual Special Tax from one Taxable Parcel to another. Such a transfer shall be allowed only if (1) all adjustments are agreed to in writing by the affected property owners and the Administrator, and (2) there is no reduction in the total Minimum Annual Special Tax Economic & Planning Systems, Inc. (EPS) Rate, Method of Apportionment, and Manner of Collection of Special Tax Exhibit A March 7, 2019 and Maximum Annual Special Tax revenues as a result of the transfer. Should a transfer result in an amendment to Attachment 1 of the Notice of Special Tax Lien, the requesting property owner shall bear the costs to affect the transfer in the CFD records and prepare the required amendments to the Notice of Special Tax Lien and Attachment 1. Before the transfer, the City may require a deposit from the requesting property owner for such costs. 1. Conversion of a Tax -Exempt Parcel to a, Taxable Parcel. If a Tax -Exempt Parcel is not needed for public use and is converted to a taxable use or transferred to a private owner, it shall become subject to the Special Tax. The Minimum Annual Special Tax and Maximum Annual Special Tax for the newly Taxable Parcel will be determined using the provisions of Sections 4 and 5 of the RMA. m. Taxable_ Parcels Acquired by a_Public Agency. A Taxable Parcel that is acquired by a public agency after the CFD is formed will remain subject to the applicable Special Tax unless the Special Tax obligation is satisfied pursuant to Section 53317.5 of the Government Code. An exception to this may be made if a Public Parcel, such as a park site, is relocated to a Taxable Parcel, in which case the previously Tax -Exempt Parcel of comparable acreage becomes a Taxable Parcel and the Minimum Annual Special Tax Maximum Annual Special Tax from the previously Taxable Parcel is transferred to the new Taxable Parcel. This trading of a Parcel from a Taxable Parcel to a Public Parcel will be permitted to the extent there is no net loss in Minimum Annual Special Tax and Maximum Annual Special Tax Levy for all Taxable Parcels in the CFD, and the transfer is agreed to by the owners of the Parcels involved in the transfer and the Finance Director. S. Assignment of the Special Tax a. Classification of Parcels. For purposes of the next Fiscal Year tax levy, by June 30 of each Fiscal Year, using the Definitions in Section 2, the Parcel records of the Assessor's secured tax roll as of January 1, and other City development approval records, the Administrator shall cause: 1. Each Parcel to be classified as a Taxable Parcel or Tax -Exempt Parcel. 2. Each Parcel to be classified as a Developed Parcel, a Final Map Parcel, or an Undeveloped Parcel. b. Assignment of the Minimum Annual Soeciaf Tax and Maximum Annual Special Tax—to-Taxable Parcels. The Special Taxes will be assigned to each Taxable Parcel each Fiscal Year using the procedures (not all steps may be applicable for each such Parcel) in Section 4. 6. Calculating Annual Special Taxes/Method of Apportionment The Administrator will compute the Annual Cost and determine the annual Special Tax levy for each Taxable Parcel based on the assignment of the Special Tax in Sections 4 and 5. The Administrator then will determine the tax levy for each Taxable Parcel using the following process: a. Compute the Annual Costs using the definition of Annual Costs in Section 2. Economic & Planning Systems, Inc. (EPS) 12 Rate, Method of Apportionment, and Manner of Collection of Special Tax Exhibit A March 7, 2019 Step 6.a.1: Levy the Special Tax Proportionately for each Developed Parcel up to the lesser of the Annual Cost calculated in Section 6.a and the Maximum Annual Special Tax for each Developed Parcel. Step 6.a.2: If the levy calculated in Step 6.a.1 is less than the Annual Cost, levy the Special Tax Proportionately for each Final Map Parcel, up to the amount that when added to the levy calculated in Step 6.a.1, equals the lesser of the Annual Cost and the Maximum Annual Special Tax for each Final Map Parcel. Step 6.a.3: If the total of the levy calculated in Step 6.a.1 and Step 6.a.2 is less than the Annual Cost, levy the Special Tax Proportionately for each Undeveloped Parcel, up to the amount that when added to the levy calculated in Step 6.a.1 and Step 6.a.2, equals the lesser of the Annual Cost and the Maximum Annual Special Tax for each Undeveloped Parcel. b. Levy on each Taxable Parcel the amount calculated above. c. Prepare the Tax Collection Schedule and, unless an alternative method of collection has been selected pursuant to Section 9, send it to the County Auditor requesting that it be placed on the general, secured property tax roll for the Fiscal Year. The Tax Collection Schedule will not be'sent later than the date required by the County Auditor for such inclusion. The Administrator will make every effort to calculate the Special Tax correctly for each Parcel. It will be the burden of the taxpayer to correct any errors in determining which Parcels are subject to the tax and their Special Tax assignments. 7. Prepayment of the Special Tax Obligation A property owner may permanently or partially satisfy the Special Tax for a Taxable Parcel by a Full or Partial Prepayment, as permitted under Government Code Section 53344. Prepayments must be made by May 1 to have the Prepayment reflected in the following Fiscal Year's Special Tax levy. Prepayment is permitted only under the following conditions: The landowner prepaying the Special Tax on a Parcel has paid any delinquent Special Tax and penalties on that Parcel before Prepayment. • Following Prepayment, amounts in the reserve fund are equal to or greater than the reserve fund requirement. The City determines that the Prepayment will not jeopardize its ability to make timely payments of Debt Service and maintain a 110 -percent annual Debt Service coverage based on Maximum Annual Special Tax Revenues in all years in which issued Bonds will be outstanding. When permitted, the Administrator shall calculate Full Prepayments using the following steps: The Full Prepayment amount before any issuance of CFD Bonds shall be calculated using the following procedures: Economic & Planning Systems, Inc. (EPS) 13 Rate, Method of Apportionment, and Manner of Collection of Special Tax Exhibit A March 7, 2019 Step 7.a.1. Determine the Maximum Annual Special Tax for the Parcel for which the Special Tax is to be prepaid using the provisions of Sections 4 and 5, treating such Parcel as a Developed Parcel. Step 7.a.2. Divide the amount from Step 7.a.1, by the Maximum Annual Special Tax Revenue, assuming all Taxable Parcels are Developed Parcels, to determine the Benefit Share for the Full Prepayment Parcel. Step 7.a.3. Multiply the Remaining Facilities Costs, as increased by ENR -CCI from the Base Year, by the Benefit Share to determine the Full Prepayment amount. Step 7.a.4. Add to the amount determined in Step 7.a.3. any costs to the City, including the costs of any City consultants, associated with the preparation of the Full Prepayment calculation. b. The Full Prepayment amount after the issuances of CFD Bonds shall be calculated using the following procedures: Step 7.b.1. Determine the Maximum Annual Special Tax for the Parcel for which the Special Tax is to be prepaid using the provisions of Sections 4 and S. If the Parcel is not a Developed Parcel, assign the Maximum Annual Special Tax for the Tax Category for the Prepayment Parcel assuming the Building Square Footage is within the higher range of Maximum Annual Special Taxes for the Tax Category. Step 7.b.2. Divide the amount from Step 7.b.1. by the Maximum Annual Special Tax Revenue, assuming all Taxable Parcels are Developed Parcels, to determine the Benefit Share for the Parcel. Step 7.b.3. Multiply the Benefit Share by the total amount of Outstanding Bonds to determine the Bond Share for the Full Prepayment Parcel. Step 7.b.4. Multiply the Benefit Share by the Remaining Facilities Costs, as increased by ENR -CCI from the Base Year, to determine the Remaining Facilities Cost Share for the Full Prepayment Parcel. Step 7.b.5. Sum the Bond Share and Remaining Facilities Cost Share from Steps 7.b.3. and 7.b.4. Step 7.b.6. Determine the total amount of Bonds to be called by rounding the amount summed in Step 7.b.5. down to the nearest $5,000. Step 7.b.7. Multiply the amount calculated in Step 7.b.6. by the call premium for the next available call date. Step 7.b.8. Determine the Reserve Fund Share for the Full Prepayment Parcel by multiplying the Reserve Fund Requirement by the Benefit Share. Step 7.b.9. Reduce the amount calculated in Step 7.b.5. by the amount of the Reserve Fund Share in Step 7.b.8., provided the amount in the Reserve Fund equals the Reserve Fund Requirement after reduction. Economic & Planning Systems, Inc. (EPS) 14 Rate, Method of Apportionment, and Manner of Collection of Special Tax Exhibit A March 7, 2019 Step 7.b.10. Determine the Full Prepayment amount by adding to the amount calculated in Step 7.b.9. any fees, call premiums, and interest to the next Bond call date not covered by Special Taxes already levied and collected for the prepaying Parcel, and expenses incurred by the CFD in connection with the Full Prepayment calculation or the application of the proceeds of the Full Prepayment to the call of Outstanding Bonds. Step 7.b.11. If the Special Taxes already have been levied but not collected, the Parcel shall not become a Full Prepayment Parcel until the owner of the Parcel has paid the Special Taxes included on the current property tax bill in addition to the Full Prepayment amount. c. Partial Prepayments are allowed only for Parcels owned by a property owner before the issuance of the initial Building Permit. A Partial Prepayment can occur only once per Assessor's Parcel. The City may allow a Partial Prepayment if the City determines that the Partial Prepayment will not jeopardize its ability to make timely payments of Debt Service and maintain a 110 -percent annual Debt Service coverage based on Maximum Annual Special Tax Revenues in all years where there will be Outstanding Bonds. Partial Prepayments will be calculated as described below: The amount of any Partial Prepayment must be either 25 percent or 50 percent of the Full Pre a ment amount determined in SLep 7.a.$. A Partial Prepayment may be made in an amount equal to 25 percent or 50 percent of the Full Prepayment desired by the party making a Partial Prepayment, except that the full amount of Administrative Expenses determined in Step 7.a.7 shall be included in the Partial Prepayment. The Maximum Annual Special Tax that can be levied on a Parcel after a Partial Prepayment is made is equal to the Special Tax that could have been levied before the Prepayment, reduced by the percentage of the Full Prepayment that the Partial Prepayment represents, all as determined by or at the direction of the Finance Director. For example, if the Partial Prepayment is equal to 25 percent, the Special Tax applied to the Parcel would be 75 percent of the Maximum Annual Special Tax. c. Upon Full Prepayment, the Administrator shall cause to be recorded a Notice of Cancellation of Special Tax Lien in accordance with Government Code Section 53344. S. Interpretation, Application, and Appeal of Special Tax Formula and Procedures Any taxpayer who feels the amount of the Special Tax assigned to a Parcel is in error may file a notice with the Administrator appealing the levy of the Special Tax. The Administrator will then promptly review the appeal and, if necessary, meet with the applicant. If the Administrator verifies the tax should be modified or changed, the Special Tax levy will be corrected and, if applicable in any case, a refund will be granted. Interpretations may be made by resolution of the Council for purposes of clarifying any vagueness or ambiguity as it relates to the Special Tax rate, the method of apportionment, the classification of properties, or any definition applicable to the CFD. Economic & Planning Systems, Inc. (EPS) 15 Fes,. 11-1 — Rate, Method of Apportionment, and Manner of Collection of Special Tax Exhibit A March 7, 2019 Without Council approval, the Administrator may make minor, non -substantive administrative and technical changes to the provisions of this Exhibit that do not materially affect the rate, method of apportionment, and manner of collection of the Special Tax for purposes of the administrative efficiency or convenience or to comply with new applicable federal, state, or local law. 9. Manner of Collection The Special Tax will be collected in the same manner and at the same time as ad valorem property taxes, provided, however, the Administrator or its designee may directly bill the Special Tax and may collect the Special Tax at a different time, such as on a monthly or other periodic basis, or in a different manner, if necessary, to meet the City's financial obligations. Economic & Planning Systems, Inc. (EPS) 16 1—,- —I — Attachment 1 City of San Luis Obispo CFD No. 2019-1 (San Luis Ranch) Assignment of the Special Taxes to Original Parcels - Base Year Original Parcel Tax Categories Acres 067-121-022 Residential Uses Annual Lot Numbers Low Density Residential (LDR) 15.51 11 to 208 1,850 sq, ft. and greater per Tax Category $247,220 Less than 1,850 sq. ft. $247,220 5 Workforce/Affordable Units [3] $0 $0 LDR Subtotal 198 Lot Numbers Medium Density Residential (MDR) 5.14 220 to 302 1,600 sq. ft. and greater $2,150 $88,150 Less than 1,600 sq. ft. $107,830 29 Workforce/Affordable Units [3] $62,350 $2,150 MDR Subtotal 13 Public Use Totals High Density Residential (HDR) - For Sale (2] $0 Multifamily For -Sale 6.62 $0 1,200 sq ft. and greater 131.36 Lot 1 Less than 1,200 sq, fl, ep r Un il $962,060 Workforce/Affordable Units [3] 67 Lot 1 - Undeveloped Parcel [4] $0 Lot 2 For Rent Multifamily 4.35 $0 HDR Subtotal 10.97 $108,800 Residential Use Totals 31.62 $0 Nonresidential Uses $0 Commercial Lot 7 Nonresidential Use 11.44 Lot 8 Nonresidential Use 3.33 Lot 9 Nonresidential Use 3.81 $0 Nonresidential Use Totals 18.58 Minimum Annual SoerI[ Tax Minimum Minimum Annual Annual Special Tax Special Tax Units per Unit/Acre per Tax Category MaxlmuML6gnUqjAQMial Tax Maximum Annual fm TIMI Special Tax 99 For Developed Maximum Annual Parcels Special Tax per Unit/Acre per Tax Category Public Uses per Unil fm TIMI 99 $2,630 $260,370 $3,110 $307,890 94 $2,630 $247,220 $2,630 $247,220 5 $0 $0 $0 $0 198 $0 $507,590 $0 $555,110 41 $2,150 $88,150 $2,630 $107,830 29 $2,150 $62,350 $2,150 $62,350 13 Public Use Totals $0 $0 $0 83 $0 $150,500 131.36 $170,180 ep r Un il $962,060 m 67 $0 $0 $1,910 $127,970 68 $0 $0 $1,600 $108,800 30 $0 $0 $0 rwr Acre L6r Arm $32,629 $216,004 $0 $0 134 $0 $0 $0 299 $216,004 $236,770 580 $874,094 $962,060 LW Mr$ ver Acre $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Public Uses Parks 3.19 $0 $0 $0 $0 Open Space 7.81 $0 $0 $0 $0 Agricultural 52.32 $0 $0 $0 $0 Regional Road 9,00 $0 $0 $0 $0 Local Road 8.84 $0 $0 $0 $0 Public Use Totals 61.16 $0 Totals 131.36 $962,060 attl• [1 ] The Minimum Annual Special Tax and Maximum Annual Special Tax per Unit/Acre are increased by 2% annually following the Base Year. [2] The Minimum Annual Special Tax for Final Map Parcels is equal to the Maximum Annual Special Tax assigned to a Tax Category and Building Square Footage range, [3] If there are a greater number of Workforce/Affordable Units Building Permits issued within a Tax Category (LDR, MDR, or HDR), the Administrator shall require the full Prepayment of the Maximum Annual Special Tax for each such Unit constructed. [4] Lot 1 is assigned an Undeveloped Parcel Minimum Annual Special Tax of $32,629 per Taxable Acre at formation of the CFD, Prepared by EPS 3/13/2019 F.Wdve Projeclsl 1820001181049 San Luis Ranch CFDIModelsl 181049 Modelo Attachment 2 City of San Luis Obispo CFD No. 2019-1 (San Luis Ranch) Assignment of the Special Tax by Tax Category - Base Year High Density Residential (HDR) - For Sale [2] Minimum Maximum For -Sale Multifamily Annual Annual 1,200 sq. ft. and greater Special Tax Special Tax Tax Category per Unit per Unit/Acre Less than 600 sq. ft. [1] [1] Workforce/Affordable Units $0 $0 Residential Uses per Unit per Unit Low Density Residential (LDR) per Acre per Acre 1,850 sq. ft. and greater $2,630 $3,110 Less than 1,850 sq. ft. $2,630 $2,630 Workforce/Affordable Units $0 $0 Medium Density Residential (MDR) 1,600 sq. ft. and greater $2,150 $2,630 Less than 1,600 sq. ft. $2,150 $2,150 Workforce/Affordable Units $0 $0 High Density Residential (HDR) - For Sale [2] For -Sale Multifamily 1,200 sq. ft. and greater $0 $1,910 Less than 1,200 sq. ft. $0 $1,600 Less than 600 sq. ft. $11-199 $1,199 Workforce/Affordable Units $0 $0 For -Rent Multifamily $0 $0 Nonresidential Uses per Acre per Acre Commercial $0 $0 Office $0 $0 Hotel $0 $0 "att 2" [1 ] The Minimum Annual Special Tax and Maximum Annual Special Tax per Unit/Acre are increased by 2% annually following the Base Year. Prepared by EPS 3/13/2019 Fl Active Projects11820W 181049 San Luis Ranch CFDIModels1181049 model4 f�', •fes_ d:� ,,��;;�? � ;;. r Yi 1 i, '�$,. ° rte:- �• t I e5§ xm 9 I EXHIBIT C PROPERTY OWNER AND PROPERTY DESCRIPTION Name of Property Owner MI San Luis Ranch, LLC C-1 4158-9011-2794.2 San Luis Obispo County Assessor's Parcel Nos. 067-121-022 END OF DOCUMENT