HomeMy WebLinkAboutRes 2016-43 - FY 2016-17 - CFD No. 2005-1 University ParkCITY OF PALM DESERT
FINANCE DEPARTMENT
STAFF REPORT
REQUEST: APPROVAL OF RESOLUTION NO. 2016- 43 AUTHORIZING
THE LEVY OF A SPECIAL TAX IN COMMUNITY FACILITIES
DISTRICT NO. 2005-1 (UNIVERSITY PARK) FOR FISCAL YEAR
2016/2017
DATE: May 26, 2016
CONTENTS: RESOLUTION NO. 2016- 43
EXHIBIT A
Recommendation
By Minute Motion, that the City Council approve Resolution No. 2016-_ 43
authorizing the levy of a special tax in Community Facilities District No.
2005-1 (University Park) for Fiscal Year 2016/2017.
Strateqic Plan Obiective
Not applicable.
Background
The Community Facilities District known as University Park (No. 2005-1) is the area
north of Desert Willow between Portola and Cook Street whose improvements are
funded by the issuance of the $50 Million and $17.915 Million bonds issued to fund the
improvements for streets, infrastructure, water, sewer, park improvements, and land
acquisitions. Yearly the City council must approve the levy of the special tax. Staff
requests that Council authorize the levy of a special tax to pay for costs and expenses
related to the Community Facilities District. The specific rate of the special tax for the
next fiscal year is attached to the Resolution as Exhibit A.
Approval of the resolution will allow the County Auditor to collect taxes as they become
due. A report will be provided at the close of the tax collection period indicating the
amounts collected. Staff requests that Resolution No. 2016- 43 be approved.
Staff Report
Adopt resolution approving special tax levy FY 16/17 — CFD 2005-1
May 26, 2016
Page 2 of 2
Fiscal Analysis
The University Park bonds are repaid through taxes collected on the respective parcels
located within the boundaries. Approval of the resolution will allow the parcels to be
levied for the 2016-2017 tax year and provide the city with the funds to pay the debt
service on a timely basis.
Submitted by:
/ o
Jane M. Moore
ctor of Finance/City Treasurer
Approval:
JustipeMcparthy
Int im Ci y Manager
u
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RESOLUTION NO. 2016- 43
RESOLUTION OF THE CITY OF PALM DESERT, CALIFORNIA
AUTHORIZING THE LEVY OF A SPECIAL TAX IN COMMUNITY
FACILITIES DISTRICT NO. 2005-1 (UNIVERSITY PARK) FOR FISCAL
YEAR 2016/2017
WHEREAS, the City Council of the City of Palm Desert (hereinafter referred to
as the "Agency"), has initiated proceedings, held a public hearing, conducted an
election and received a favorable vote from the qualified electors relating to the levy of
a special tax in a Community Facilities District, as authorized pursuant to the terms and
provisions of the "Community Facilities Act of 1982", being Chapter 2.5, Part 1, Division
2, Title 5 of the Government Code of the State of California. Community Facilities
District No. 2005-1 shall hereinafter be referred to as "District" and,
WHEREAS, this City Council, by Ordinance as authorized by Section 53340 of
the Government Code of the State of California, has authorized the levy of a special tax
to pay for costs and expenses related to said District, and this City Council is desirous
to establish the specific rate of the special tax to be collected for the next fiscal year.
NOW, THEREFORE, IT IS HEREBY RESOLVED AS FOLLOWS:
SECTION 1. That the above recitals are true and correct.
SECTION 2. That the special tax rates for each tax category to be used to
generate special tax revenues, which will be collected to pay for
the costs and expenses for the next fiscal year (2016/2017) for
the referenced District, is hereby determined and established as
set forth in the attached, referenced and incorporated Exhibit
„A„
SECTION 3. That the rate as set forth above does not exceed the amount as
previously authorized by Ordinance of this Council, and is not in
excess of that as previously approved by the qualified electors of
the District.
SECTION 4. The special tax shall be collected in the same manner as
ordinary ad valorem property taxes are collected, and shall be
subject to the same penalties, procedures and sale in case of
any delinquency for ad valorem taxes, and the Tax Collector is
hereby authorized to deduct reasonable administrative costs
incurred in collecting any said special tax.
SECTION 5. Monies above collected shall be paid into the District funds.
RESOLUTION NO. 2016-43
SECTION 6. The Auditor of the County is hereby directed to enter in the next
County assessment roll on which taxes will become due,
opposite each lot or parcel of land effected in a space marked
"public improvements, special tax" or by any other suitable
designation, the installment of the special tax, and for the exact
rate and amount of said tax, reference is made to the attached
Exhibit "A".
SECTION 7. The County Auditor shall then, at the close of the tax collection
period, promptly render to this Agency a detailed report showing
the amount and/or amounts of such special tax installments,
interest, penalties and percentages so collected and from what
property collected, and also provide a statement of any
percentages retained for the expense of making any such
collection.
SECTION 8. Special Taxes are to be levied on non-exempt parcels within the
District. Should it be discovered that any taxable parcels are not
submitted to the County Auditor for inclusion into the 2016/2017
Tax Roll subsequent to the submittal deadline of August 10,
2016, the City Council directs the City of Palm Desert staff or
their agents to bill such parcels directly via U.S. mail using the
rates as approved in Exhibit "A".
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RESOLUTION NO. 2016-43
PASSED, APPROVED AND ADOPTED by the City Council of the City of Palm
Desert, California this 26th day of May, 2016 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
MAYOR OF THE CITY OF PALM DESERT
ROBERT A. SPIEGEL
ATTEST:
RACHELLE D. KLASSEN, CITY CLERK
CITY OF PALM DESERT, CALIFORNIA
APPROVED AS TO FORM:
ROBERT W. HARGREAVES, CITY ATTORNEY
BEST, BEST & KRIEGER
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RESOLUTION NO. 2016-43
Exhibit "A"
Community Facilities District No. 2005-1
(University Park)
Proposed Special Tax Rates
Fiscal Year 2016/2017
Zones A — D. The following table summarizes the Maximum and the Proposed Special Tax Rates
relating to each land use class.
Developed Propertv
Zone A
Per Acre
$21,000
$21,000
Zone B
Per Acre
$27,000
$27,000
Zone C
Per Acre
$27,000
$27,000
Zone D
Per Acre
$23,000
$23,000
-Undeveloped & Provisional Undeveloped Property
Zone A
Per Acre
$21,000
$21,000
Zone B
Per Acre
$27,000
$27,000
Zone C
Per Acre
$27,000
$27,000
Zone D
Per Acre
$23,000
$23,000
"'The Proposed Special Tax Rates to be
Levied for Fiscal Year 2016/2017 will not exceed the Maximum
Special Tax Rates
described above.
Zone E. The following table summarizes the Maximum and the Proposed Special Tax Rates relating to
each land use class.
Single Family Property
Per square foot of Residential
Greater than 2,300
$1.44
$1.44
Floor Area
Single Family Property
Per square foot of Residential
2,300 to 1,725
$1.67
$1.67
Floor Area
Single Family Property
Per square foot of Residential
Floor Area
Less than 1,725
$1.38
$1.38
Multifamily Property
Per square foot of Residential
N/A
$1.50
$1.50
Floor Area
Non Residential Property
Per Acre
N/A
$28,000
$28,000
Undeveloped Property
Per Acre
N/A
$28,000
$28,000
"jThe Proposed Special Tax Rates to be Levied for Fiscal Year 2016/2017 will not exceed the Maximum Special Tax
Rates
described above.
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