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
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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