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Home My WebLink AboutRes 06-118 CFD 2005-1 Levy of Special Tax1 CITY OF PALM DESERT FINANCE DEPARTMENT STAFF REPORT REQUEST: APPROVAL OF RESOLUTION NO.06-118 AUTHORIZING THE LEVY OF A SPECIAL TAX IN COMMUNITY FACILITIES DISTRICT NO. 2005-1 (UNIVERSITY PARK) FOR FISCAL YEAR 2006/2007 �I.TY COUNCIL ACTION: A-F PROVED . ✓ DENIL ED - iU`E OTHER �.�r '-Q° . DATE: AUGUST 24, 2006 Uw // �11:r�t&'s;Nr.. DATE CONTENTS: RESOLUTION NO. 06-11WVYES* 4 EXHIBIT A NOES:-.q �1 AIF= BY: 0 I Recommendation: Oa: iginal on File w1eh City Clerk's Of By Minute Motion, that Council approve Resolution No06-118authorizing the levy of a special tax in Community Facilities District No. 2005-1 (University Park) for Fiscal Year 2006/2007. Background: A Community Facilities District known as University Park was recently established as No. 2005-1. 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. Therefore, staff requests that Resolution N096-118be approved. Submitted by: Approval: _/ /,'111 Paul S. Gibson,` Carlos L. Ortega Director of Finance/City Treasurer City Manager \\WIN2K\groups\Finance\Niamh Ortega\Wpdocs\PGibson\staff Reports\approval of Ivy in CFD No 2005-1.rtf RESOLUTION NO. 061--118 RESOLUTION OF THE CITY OF PALM DESERT, CALIFORNIA AUTHORIZING THE LEVY OF A SPECIAL TAX IN COMMUNITY FACILITES DISTRICT NO. 2005-1 (UNIVERSITY PARK) FOR FISCAL YEAR 2006/2007 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. This Community Facilities District 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 Community Facilities 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 (2006/2007) 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 and same procedure and sale in cases 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. 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 CFD No. 2005-1. Should it be discovered that any taxable parcels are not submitted to the County Auditor for inclusion into the 2006/2007 Tax Roll subsequent to the submittal deadline of August 10, 2006, 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". PASSED AND ADOPTED by the City Council of the City of Palm Desert, California this day of , 2006 by the following vote: AYES: NAYS: ABSENT: ABSTAIN: MAYOR OF THE CITY OF PALM DESERT ATTEST: APPROVED AS TO FORM: City Clerk City Attorney Exhibit "A" Community Facilities District No. 2005-1 (University Park) Proposed Special Tax Rates Fiscal Year 2006/2007 Zones A — D: The following table summarizes the Maximum and the Proposed Special Tax Rates relating to each land use class. SPECIAL TAX MAXIMUM SPECIAL PROPOSED SPECIAL LAND USE CLASS RATE MULTIPLIER I TAX RATE TAX RATE")Developed Property j Zone A Per Acre $21,000 $21,000 j Zone B Per Acre $27,000 $27,000 Zone C I Per Acre j $27,000 $27,000 Zone D I Per Acre $23,000 $23,000 Undeveloped & Provisional Undeveloped Propertv j Zone A Per Acre $21,000 $21,000 j Zone B Per Acre $27,000 $27,000 j 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 2006/2007 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. SPECIAL TAX RATE RESIDENTIAL MAXIMUM PROPOSED LAND USE CLASS MULTIPLIER FLOOR AREA SPECIAL SPECIAL (SQFT) TAX RATE TAX RATE"' 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 Less than 1,725 $1.38 $1.38 Floor Area 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 "' The Proposed Special Tax Rates to be Levied for Fiscal Year 2006/2007 will not exceed the Maximum Special Tax Rates described above.