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Home My WebLink AboutRes 08-56 and 08-57 Presidents Plaza III BID FY 08/09CITY OF PALM DESERT DEVELOPMENT SERVICES STAFF REPORT REQUEST: Approval of the Presidents' Plaza III Business Improvement District Annual Budget for Fiscal Year 2008/2009. SUBMITTED BY: Ryan Stendell, Senior Management Analyst Stephen Aryan, Assistant to the City Manager DATE: June 26, 2008 ATTACHMENTS: Resolution No. 08-56 Resolution No. 08-47 Presidents' Plaza III Property and Business Improvement District Management Plan Fiscal Year 2008/2009 District Map Recommendation: Waive further reading and adopt: 1. Resolution No. 08-56, approving the Presidents' Plaza 111 Business Improvement District Annual Budget for Fiscal Year 2008/2009. 2. Resolution No.08-57 , ordering the levy and collection of assessments for Fiscal Year 2008/2009. Executive Summary: The attached resolutions will allow the City Council to approve the annual budget for the Presidents Plaza III Property and Business Improvement District. Approval of the attached resolutions will also allow the City of Palm Desert to levy and collect the annual assessments for Fiscal Year 2008/2009. Discussion: The Presidents' Plaza III Business Improvement District was re-established in 2006 for a 5-year term and budget. The District is entering its third year of the five-year term. The District includes properties located on the south side of Highway 111 and on the north side of El Paseo, between Highway 74 and Sage Lane. President's Plaza III Budget FY 2008/2009 June 12, 2008 Page 2of2 The City collects annual assessments to pay for services such as landscape maintenance, street sweeping, and parking lot lighting within the common parking lot areas. Each fiscal year the City Council reviews and approves a budget based on the Advisory Board's recommendation. The Presidents' Plaza III Advisory Board was sent the preliminary budget in June for their review. The Board indicated their acceptance of the budget as noted in the attached correspondence. The only modification to the budget is the allowed three percent cost of living adjustment. The attached resolutions will approve next fiscal year's budget and allow the City to levy and collect the annual assessments for Fiscal Year 2008/2009. Staff recommends approval of the attached resolutions. Submitted By: Ryan Stendell Senior Management Analyst Departmeryt Head: Homer Croy ACM for Develop nt Services Approval: Carlos L. OrtegV City Manager Paul Gibson Director of Finance ;;ITY COUNCIL ACTION: APPROVED ✓ DENIED 8 �,, OTHER /1 ( 6 RECEIVED Nos IDS, St? MEET I Hn DATE %�, �C ; ok NAyEsOES: Ntm l .. / . Gail (!2SC1Y1 ABSENT: ere (Jfl ABSTAIN: 1nrese VERIFIED BY: IPA(` 7riginal on File with City Clerk's Offi.€ RESOLUTION NO. 08-56 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM DESERT, CALIFORNIA, APPROVING THE MANAGEMENT DISTRICT PLAN FOR THE PRESIDENT'S PLAZA III PROPERTY AND BUSINESS IMPROVEMENT ASSESSMENT DISTRICT, FISCAL YEAR 2008/09 The City Council of the City of Palm Desert (hereafter referred to as the "City Council") does resolve as follows: WHEREAS, in Fiscal Year 2008/09 the City Council pursuant to the provisions of Property and Business Improvement District Law of 1994, Part 7 of Division 18 of the Streets and Highways Code of Califomia (hereafter referred to as the "Code"), and in accordance with the provisions of the California Constitution Article XIIID conducted proceedings for the formation of the President's Plaza III Business Improvement District (hereafter referred to as the "District"), and the levy of annual assessments connected therewith; and, WHEREAS, on June 8, 2006 the City Council held a full and fair public hearing regarding the formation of the District and the establishment of annual assessments and the maximum assessments required to pay the maintenance and services of landscaping, lighting, refuse collection and all appurtenant facilities and operations related thereto for a five year period beginning July 1, 2006 and ending June 30, 2011 pursuant to the Code; and, WHEREAS, upon conclusion of the public hearing of June 8, 2006 the City Council tabulated the property owner assessment protest ballots returned and by resolution confirmed that majority protest did not exist and by resolution approved the Management District Plan, appointed an Advisory Board for the District, ordered the formation of the District, and ordered the levy and collection of the first annual assessments; and, WHEREAS, pursuant to the Code, the City Council appointed the President's Plaza III Committee as the Advisory Board for the District and this Advisory Board shall cause to be prepared an annual Management District Plan (hereafter referred to as the "Report") each fiscal year for which assessments are to be levied and collected, said Report shall be filed with the City Clerk and shall contain: any proposed changes to the District boundary; the improvements and activities to be provided; the estimated costs and method of assessment; the amount of any surplus or deficit; and contributions from other sources; and, 1 RESOLUTION Na 08-56 WHEREAS, pursuant to the Code, the Advisory Board has caused to be prepared a Report in connection with the District describing the proposed improvements, services, expenditures and assessments to be levied for Fiscal Year 2008/09, and filed with the City Clerk of the City of Palm Desert and the City Clerk has presented to the City Council such Report entitled "Management District Plan for the President's Plaza III Property and Business Improvement Assessment District, Fiscal Year 2008/09"; and, WHEREAS, The City Council has carefully examined and reviewed the Report as presented, and is satisfied with each and all of the items and documents as set forth therein, and finds that the levy of assessments has been spread in accordance with the special benefits received from the improvements, operation, maintenance and services to be performed, as set forth in said Report; and, NOW, THEREFORE BE IT RESOLVED, DETERMINED, AND ORDERED BY THE CITY COUNCIL FOR THE DISTRICT, AS FOLLOWS: Section 1 The above recitals are true and correct. Section 2 The Management District Plan as presented, consists of the following: A. A Description of the District boundaries and all properties benefiting from the improvements and services. B. A Description of Improvements and services to be provided by the District. C. The Annual Budget (Estimates of Costs and Expenses of Services, Operations and Maintenance), D. The District Roll containing the Levy of Assessments for each Assessor Parcel within the District, Section 3 The Report as presented, is hereby approved and is ordered to be filed in the Office of the City Clerk as a permanent record and to remain open to public inspection. Section 4: That the City Clerk shall certify to the passage and adoption of this Resolution, and the minutes of this meeting shall so reflect the presentation of and final approval of the Report and appointment of the District Advisory Board. PASSED, APPROVED, AND ADOPTED this day of 2008. 2 RESOLUTION NO. 08-56 STATE OF CALIFORNIA COUNTY OF RIVERSIDE ss. CITY OF PALM DESERT I, , City Clerk of the City of Palm Desert, County of Riverside, State of California do hereby certify that the foregoing Resolution No. was regularly adopted by the City Council of said City of Palm Desert at a regular meeting of said Council held on the day of 2008 by the following vote: AYES: NOES: ABSENT: ABSTAINED: JEAN M. BENSON, Mayor City of Palm Desert RACHELLE D. KLASSEN, City Clerk City of Palm Desert 3 RESOLUTION NO. 08-57 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM DESERT, CALIFORNIA ORDERING THE LEVY AND COLLECTION OF ASSESSMENTS FOR THE PRESIDENT'S PLAZA III PROPERTY AND BUSINESS IMPROVEMENT ASSESSMENT DISTRICT, FISCAL YEAR 2008/09 The City Council of the City of Palm Desert, California (hereafter referred to as the "City Council") hereby finds, determines, resolves and orders as follows: WHEREAS, on June 8, 2007 the City Council called and duly held a public hearing and property owner protest ballot proceedings for the PresidenYs Plaza III Property and Business Improvement Assessment District (hereafter referred to as the "DistricY') pursuant to the provisions of Property and Business Improvement District Law of 1994, Part 7 of Division 18 of the Streets and Highways Code of California (hereafter referred to as the "Code") and the California Constitution Article XIIID, for the purpose of presenting to the qualified property owners within the District the annual levy of assessments and a maximum annual assessment over a five year period beginning July 1, 2006 and ending June 30, 2011, for the costs and expenses associated with the maintenance and operation of landscaping, lighting, refuse collection and all appurtenant facilities related thereto; and, WHEREAS, the landowners of record within the District as of the close of the Public Hearing held on June 8, 2006 did cast their ballots resulting in the approval of the District formation and annual levy of assessments related thereto; and, WHEREAS, the City Council, pursuant to the Code did by previous Resolutions formed the District, and approved a Management District Plan in connection with the formation of the District and appointed an Advisory Board that shail cause to be prepared an annual report regarding the District for the City Council's approval; and, WHEREAS, the Advisory Board has held a meeting for reviewing and approving the proposed budget for Fiscal Year 2008/09 and has prepared a Report in connection with the District for Fiscal Year 2008/09, and filed with the City Clerk of the City of Palm Desert and the City Clerk has presented to the City Council such Report entitled "Management District Plan for the President's Plaza III Property and Business Improvement Assessment District, Fiscal Year 2008/09;" and, WHEREAS, The City Council has carefully examined and reviewed the Report as presented, and by previous resolution has approved said Report. 1 RESOLUTION NO. 08-57 NOW, THEREFORE, BE IT RESOLVED, DETERMINED, AND ORDERED BY THE CITY COUNCIL FOR THE DISTRICT, AS FOLLOWS: Section 1 The above recitals are true and correct. Section 2 The City Council desires to levy and collect the annual assessment for President's Plaza III Property and Business Improvement Assessment District for Fiscal Year 2008/09 pursuant to the provisions of the Code. Section 3 Based upon its review of the Management District Plan, a copy of which has been presented to the City Council and filed with the City Clerk, the City Council hereby finds and determines that: A. The territory of land within the District will receive special benefits from the operation, maintenance and servicing of the improvements and appurtenant facilities located within the boundaries of the District. B. District includes all of the lands so benefited; and C. The net amount to be assessed upon the lands within the District in accordance with the proposed budget for the fiscal year commencing July 1, 2008 and ending June 30, 2009 is apportioned by a formula and method which fairly distributes the net amount among all eligible parcels in proportion to the special benefits to be received by each parcel from the improvements and services. D. The Assessments so described in the Management District Plan are consistent with the assessments so approved by the property owners within the District. Section 4 The Report and assessments as presented to the City Council and on file in the office of the City Clerk are hereby confirmed as filed. Section 5 The City Council hereby orders the improvements to be made, and the levy and coliection of annual assessments to pay for those improvements to be presented to the County Auditor/Controller of Riverside for Fiscal Year 2008/09. The County Auditor/Controller shall enter on the County Tax Roll opposite each parcel of land the amount of levy, and such levies shall be collected at the same time and in the same manner as the Counry taxes are collected. After collection by the County, the net amount of the levy shall be paid to the City Treasurer. 2 RESOLUTION NO. 08-57 Section 6 The City Treasurer shall deposit all money representing assessments collected by the County for the District to the credit of a fund for the PresidenYs Plaza III Property and Business Improvement Assessment District, and such money shall be expended only for the improvements described in the Management District Plan. Section 7 The adoption of this Resolution constitutes the District levy for the Fiscal Year commencing July 1, 2008 and ending June 30, 2009. Section 8 The City Clerk is hereby authorized and directed to file the levy with the County Auditor upon adoption of this Resolution. 3 RESOLUTION NO. 08-57 PASSED, APPROVED, AND ADOPTED this day of 2008. STATE OF CALIFORNIA COUNTY OF RIVERSIDE ss. CITY OF PALM DESERT I, , City Clerk of the City of Palm Desert, County of Riverside, State of California do hereby certify that the foregoing Resolution No. was regularly adopted by the City Council of said City of Palm Desert at a regular meeting of said Council held on the day of , 2008 by the following vote: AYES: NOES: ABSENT: ABSTAI N ED: , JEAN M. BENSON, Mayor City of Palm Desert , RACHELLE D. KLASSEN, City Clerk City of Palm Desert 4 � PALM DESERT CITY OF PALM DESERT MANAGEMENT DISTRICT PLAN PRESIDENT'S PLAZA III PROPERTY AND BUSINESS IMPROVEMENT DISTRICT FISCAL YEAR 2008/09 Public Hearing: June 12, 2008 �MuniFinancial Cnr�orate O�ce OjJice 1 wicalrnn.r 273G8 Via lndustria Llncaster,CA Orlando,FL Suite 110 �)aklancl,C�� Scacdc,\X';\ 1'emecula, C:A 92590 Sacramemo,(::1 llem�his,T:� 'I'eL• (951) 587-3500 Phoenix, ,�1"l, Tel: (80()) 757-;�iL�I�I (68G4) Fax: (9�1) �87-3�10 ��1�u•.muni.com TABLE OF CONTENTS OVERVIEW............................................................................................ 1 Introduction 1 Formation 1 DESCRIPTION OF THE DISTRICT .............................................................. 3 District Boundary 3 Improvements and Activities 3 Special Benefits of the Improvements and Activities 4 METHOD OF APPORTIONMENT................................................................ 6 Method of Apportionment Rationale 6 Parking Lot Improvements and Services 6 Method of Apportionment Calculations 6 Apportionment of Direct Costs 6 Apportionment of Indirect(Administration/Reserve) Costs 7 Total Annual Assessment 7 Annual Budget Adjustments 8 DESCRIPTION OF BUDGET ITEMS IN TABLE 4 ........................................... 1 Direct Benefit Costs 1 Indirect Benefit Costs (Administration/Reserves) 1 Levy Breakdown 2 District Statistics 2 District Budget 3 APPENDIX A —ASSESSMENT DIAGRAM................................................A-6 APPENDIX B —ASSESSMENT ROLL .....................................................B-1 Cttt ofP.�6n Dc�scrt I'resident',s Plaza III I'BID Rcncu�al Final En�incer'.s Rcpnrt F}'Z008/ZOD9 Overview Introduction The Cin� of Palm Desert ("Cin•") formcd and established the President's Plaza I11 Prc>pert�� and Business Impro��ement Assessment District ("District") be�;innin� in I�iscal Year 2001/2002 to pro�•ide improvements and acu��ities that confer special benefits upon real prc�pert�� ithin the bc>undaries c�f the District. The District ��as established and le�•ied pursuant to Pr�pert}- and Business Improvement District i.aw of 1994, Part 7 of Divisi�n 18 c>f the California Streets and ��i�hwa��s Code ("Act"). Pursuant to the Act, propert�� c�wners within the District submitted a si};ned petition reyuc:sung formation of the District. The District was successfull�� fc�rmed f�r a term of fi�•e ��ears and a maaimum assessment was appro�•ed b}• the prc�perri� owners thr�u�h an assessment ballot prc�ceedin�, conducted according t� pro�-isi<ms �E the Califc.�rnia Constitution Article XIIID ("Pr�position 218"). Fiscal Year 200�/200G was the fifth �•ear c>f the term of the District Under the prcn�isions of the Act, the propert�� o�vners ��ithin the District ma�• renew� the District for a maximum term oE ten (10) ��ears. Pursuant to the Cc>de:, and the provision c>f the California Constitutie>n, the propert}� c>u•ners within the District appro��ed the conunuaticm of the District and assessment for an additional five �-ears and on June 8'h, 20(16 the Citt• authc.>rized the funding fc,r impro��ements and acu�-itie s authorized within the District fi>r a period c>f fi�•e ��ears (Fiscal Years 2O06/2007 thr<>ugh 2010/2011). This `iana�;ement District Plan ("Plan") describes the District, imprc��-emc;nts and acti��ities, method �f appc�rt�c>nment, the proposed assessments for the current fiscal }•ear, and the ma�imum assessment propc�sed for the fiae-}�ear durau�n of the renev��ed District. The prc>pc>sed assessments are based on the estimated cc>st to prcn�ide the impr��ements, acti�•iues, and operatic>ns that prc�vide a direct and special benefit to pr�perties within the District. The: costs c>f impro��ements, acuvities, and operations include all e�penditures, deficits, surpluses, re�-enues, and resen-es. '1'he wc>rd "pre>flert�•," for the purposes c.�f this Plan, refers to real propert�� situated ��ithin the District, and idenufied as an indi�-idual prc>pert}• or parcel assi�;ned its own Assessc�r's Parcel :�iumbcr (APN) b�' the Count�� of Riverside �ssessor's Office. '1"he Counri� �>f Riversicle Audite>r/Cc�ntre�ller uses AP:�]s tc� idenuf�� c�n the ta� rc>II j�arcels and �roperues assessed for taxes, special assessments, and fees and char�es. Formation A �vritten petiuc>n c�f the prc>pert�� c�wners �vithin the District, representin�; more than 70 percent <>f the prc>pc>sed assessment to be le�-ied ��as submitted tc> the Palm llesert Cit�� Cuuncil to initiate formatic�n prc�ceedin�s. The Citt� Cc>uncil initiated pr�>ceedin�;s fe�r the Ec�rmation c>f the District b�� ade�pun� a resc.�lution expressing its intenuc>n w form the District. The rc:solutic>n c>f intenucm referenced the En�,nneer's Repc.�rt and the :�tana�ement District Plan, and nouced the ume and place c�f a public hearin�; on the formavun of the District and le��c�f assessments. Prr�rc 1 �MuniFn�cial Citv u£Pal�n Dcsrrt Prc:sidenr's PL•tza Ill AHID Mana�,�cmcnt Disrrict PLtn Fiscal}'ea�2008/2009 ��'ithin nc�t less than fc�rt��-fi�-e (45} da�•s and nc>t mc�re t.han ninet�• (90) da�•s c>f adc.>j�tin�; the resc�lution c>f intenti�n, the Cit�� Cc>uncil held a public hearin�; e>n the matter of fc�rmau�n, and caused notice to the prc>pert}� ��vners pursuant t<> Secuc>n 54954.6 of the Gc>�-ernment Code. Public ne�dces and assessment ballc>ts (pr�perri• o�i�ner prc�test ball�ts) �i�ere mailed tc.� each propert}� o�t�ner at least 4� da��s prior to the public hearing pursuant tc> Article XIIID of thc Califc>rnia Cc�nstitution. At the public hearin�; the Cit�• C<�uncil pro��ided the public and pr�pert�• c��ti�ners with an opportunitZ• to pro��ide oral prc>tests and written prc�tests prior to the adc>ptic�n �f the I:ngineer's Report and the :�tanagement District Plan. Pursuant to the Culifornia Con.rtitrrtinn Article�Illll, the Cin• Clerk or its desi�;nate:d alternate tabulated prc�pern• o�-ner assessment ballots recei�•ed fr�m propert}� o�uners and determined that ma}�rit�� protest did nc>t exist. Pursuant t� the Act, the (;iri� C�uncil appointed an (:hvner's rlssociauc>n ("r�ssociation") fc�r the District. This Assc>ciauc>n shall make ��earl�� recc�mmendations te� the Cit�� Council on the expenditures of re�-enue derived from the le�� of assessments and c.�n the classificauc>n c.�f pr�perties as applicable. This Associauc�n shall cause to be prepared a report each fisca] ��ear for which assessments are to be levied and collected. Said annual report shall be file:d with the Cin' Clerk and shall contain: an}� proposed chan�;es to the district boundar��; the imprc>��ements and acti�-iues tc> be pro�•ided that ��ear; the esumated cc>sts for that ��ear; the methc>d c>f assessment; the ame�unt of an�• surplus or deficit; and cc�ntributions from c>ther s�urces. The (:in' C�uncil ma�� apprcn-e the report as submitted �r as modified. —- - -- - --.. .. - - — --- P.r{�c2 �MuniFinancial Cit►�ofPal»�Dc:sert 1'rc;sident'.s Plrrz.�III I'HID A1,1n:�cincnt Dis�ricr P/an Fisc:rl}'ea�200X/2009 Description of the District District Boundary The District cc>nsists of all �arcels Ic>cated in the commercial business area know�n as the President's Plaza III ��•ithin the Cit}• of Palm Desert, C�unt}� of Ri�•erside. 'I'he llistrict indudes sixteen (16) assessed commercial parcels. 'I"he boundar�� c�f the District and the parcels there:in are �enerall�� lc>cated S�uth of Palm Desert llrive at I-Iighwa}• 11]; North of El Pasc:o; ��'est of Sa�;e Lane; and I;ast of Old I Ii�;hu•a�• 74, and includes the Palm llesert Parkin� I,ot — a lease parcel tc> the: Cit}' of Palm llesert l�cated South c>f I li�;hwa�• 111; Last of Ne�� Highwa}� 74; and �k'est c�f Old Hi�h��a}• 74. Improvements and Activities In an effc>rt tc� enhance and imprc>��e business oppc.>rtuniues and the appearance of the area kno��n as the President's Plaza III, the A�enc��prcn�ided funds for the reno��ation and capital imprc>��ement of the parking lot and landscaped areas related t<> this commercial business center. In cc>njunction �y�ith this rene>vauon, President's Plaza III Propern' and Business Impro�•ement District w�as formed in 2001 to provide and cnsure the cc>ntinued operatic�n and maintenance of the imprc>��ements after the renovations had been cc�mpleted. In 200(i, the pr<>perri• owners rene�y�ed the llistrict fc�r another five (�) �•ear term; therefc�re, the assessments �enerated will continue this maintenance. In December 2005, the District paid for thc slurn• sealin�, re-striping and repair of the parkin� lot thrc�ugh rescrve funds that had been accumulated durin� the first f�•e t•ears of the term of the District. lt has been determined that all the prc�perties within the District receive special and disdnct benefits frc�m the impro��ements and acti��ities to be funded through the assessments. The imprcn�ements include the necessar�� acti��ities, ser�•ices, c.>perations, administration, and maintenance reyuired tc> keep the impro��ements in satisfactur�' c�ndition includin�; all necessar}' labor, material, and eyuipment. '1'he sen•ices ma}� include, but are nc>t limited tc�, regular maintenance, repair, remo�-al c>r replacement c�f all c>r an�• part of the imprc>�•ements includin�; remcn�al �f trimmin�;s, rubbish, debris and other solid ��aste; and, pro�-iding for the gr�wth, health and beautt� c�f landscapin� and lighun� induding culr.ivation, trimming, spra��ing, fertilizin�;c>r treatin�; for disease c>r damage as ��ell as suppl��in� necessar�� irrigauc�n and electrical ener��. The specific impro�•ements and acti�-ities include: • Parking lot landscaped areas: including, but not limited to, ground cc>ver, shrubs, trees, plants, irri�auc�n and draina�e s��stems and associated appurtenant facilitics; • Parking lot lighting facilities: including, but not limited to, bulbs, fi�tures, p�lcs, �t-iring, and electrical enc;r�,n; and, • Debris removal: includin�;, but nc�t limited to, re�ular mechanical s��eepin�; c.>f the parkin}�lc�t. _- Pa�,>c 3 �MuniFnanciai Citt�nl'P,i/in Desert I'rrsident'.s Plaz,+IlI PHID �ilrina�cmcnt Distrrct Plxn Fisc:rl Y'ear 1008/2009 'I'he cc�sts assc>ciated ��•ith thc impro��ements are eyuitabl�• spread amon�; the benefiting parcels w•ithin the llistrict udlizin�; the method of apportionment described in the `lethod c�f Appc>rtie>nment section of this Repc�rt. The tc>tal funds collected shall be dispersed and used for the services and c�perations j�ro��ided to the District.. Special Bene�ts of the Improvements and Activities Assessed prc.�perties ��•ithin the District receive special benefits frc�m c�ne c�r m�re of the impr��ements and acu�•iues funded thre�u�h the District assessments. Specificall��, lighun�; and landscapin�;amenities within the parl;in�lc�t, and regular s��eepin�;of the parl:in�;lot. The special benefits of li�hung (parking lot lights) are the cc>nvenience, safet�•, and securit�� <�f pr<�pert�•, impro��ements, and�;cx>ds. Specificall��: 1. i�,nhanced deterrence of crime and the aid tc� pc.�lice protection; 2. Increasc:d ni�htume safet�� fc.�r patrc�ns and emplo��ees; 3. Impro��ed �•isibilin' fc�r pedestrians and motc�rists; 4. Impro�•ed ingress and egrc:ss t� propert��; 5. Reduced �-andalism and other criminal acts and damage tc� improvements c�r prc>pert�'; 6. f:nhanced aesthetic appeal of the parking area and the properties that are associated with the parkin�;area; 7. Increased pr�mouon of business activities and opp�rtunities durin�; nighttime hours; and, 8. The special enhancement to the �•alue uf prc>pert��, which results frc>m the above bcncfits. The benefits associated �ti•ith landscaped islands and medians within the parkin�; 1<�t are specificall��: l. lmpr��ed aestheuc appeal c�f the parl:in�area and nearb�•parcels; 2. Impro�-ed dust control; 3. Enhanced adaptation e�f the urhan en��ironment��-ithin the natural em�irc>nment; 4. lmpro��cd traffic circulation; 'i. �1 positi��e representation of the businesses ��ithin the District; 6. Centralized locations fc>r refuse collecuc�n facilities; and, 7. The special enhancc:ment tc� the �•alue of propert��, ��hich results frc�m the: abore benefits. _ -- -- - - - Prr�rc a �MuniFnancial Citt��fPaln�Dc:scr� 1'residcn�'.s Plaz:r III I'HID ,N,rn:r�ciucnt District P/an Fisca/}"ea�2008/2009 Parking lc�t s«•eeping is an essential as►d necessar�� activit�• fc>r all properues—pardcularl�• ce�mmercial prc>perues. This impr��-ement is funded through the assessments sc�lel�� for the special benefit c�f prc�perties ��ithin the District. The benefits assc>ciated u-ith this ser��ice are: 1. l:nhanced aesthetic appeal c�f the parking area and the properties that are associated with the parking area; 2. Impro�•ed dust contrc�l; 3. The special enhancement tc> the ��aluc of prc>perri�, �vhich results from the abo�•e bcnefits. The on-�oing operatic�n and maintenance of the landscaping, li�;hun�; and sweepin�; impro�-ements pro��ide no measurable general benefit tc� other properties �utside the District or to the public at lar�;e. Therefore, these impro�•ements and the cc.�rresponding assessments ha��e been identified as 100`% special benefit to parcels within the District. - -- - - pa{�c.5 �MuniFnancial Citv of I'.•�bn Dc:sert Presidcnt'.s I'/stz,r!II PBID Mrrn:i��cment Districr P/a�i Fiscal}'e,�r 2008/2009 Method of Apportionment Method of Apportionment Rationale The cc>sts c�f the District impro�•ements ha�•e each been apporti�ned b}� a f<�rmula and methe>d, �vhich fairl�• distributes the net ame�unt to be assessed among all assessed parcels in proportion to the est�mated special benefits to be recei��ed b}• each parcel fr�m the impro�•ements. Parking Lot Improvements and Services �11 assessed parcels «•ithin the President's Plaza III PBID ha��e use of, and access t�, a cent.ralized parkin�; faciliti� (1<>t) that pro�•ides access, parkin�;, and deli�•cr}� areas fc�r the businesses and parcels w�ithin the District. Because the parkin�; area is a centralized facilin� used and accessed b�� all pre�perties within the District, each parcePs benefit is based c�n the size c�f such parce:l. Therefore, it has been determined that a fair and reasc.�nable reflection c�f each parcePs benefit for the parking lc.�t impro�•ements shall be basc:d on the apprc�ximate size, in square feet, c�f each parcel. Method of Apportionment Calculations The Total Direct Cc�sts c>f the parkin� le>t imprcn�ements and services are app�rtioned to each parcel within the District based c>n each parcel's le>t size in square feet. In addiuc�n te� a parcel's Total Direct Cc�st, each parcel is assessed for District administration eYpenses and a resen•e fund collection (Indirect Cc.>sts). The Indirect Cc�sts for each parcel ha��e been apporuoned in the same manner as Total llirect Ce�sts. Therefore, each parcel's Total �nnual Assessment is the sum of its pre>pc.�rt.ic.>natc share of the Te>tal Direct Costs and T�tal Indircct Cc�sts. Apportionment of Direct Costs The 1'c.�tal llirect Costs esumat.ed f�r parl;in� lot imprc.��ements and ser�-ices (maintenance) are based �n the estimated annual c�sts to maintain the landscaping,li�;htin�;, and mechanical sweepin�; of the parkin� l�t within President's Plara III. The Tc>tal llirect Costs are di��ided b�� the sum �f the square fc��tage �f all parcels ��ithin th� District in order tc� establish a rate per parcel syuare f��t. This rate multiplied b}•each parcePs syuare foota�e eyuals the parcel's prop�rucmate share of the parl:in�; Ic�t maintenanec ec>sts (rc.>unded to the nearest e�•en penn��). The ra�e prc��-ided in Table 1 is fc�r I�iscal Year 2008/2009 c>nly�. Please refer t<� the District Bud�et (Table 41 fc�r future assessment rates. Total Direct Cost/Total Square Footage =Rate per Square Foot Rate x Parcel Square Footage =Direct Cost Assessment Component __ _._ _ __ _. P:!€/C 6 �MuniFinancial Citv ul'PaLn Dcsert Yre:,idcnt'.s P/aza III PBID A1an:r{ret»c nt Disttl�t P/an F'isr:tl Y"e,tr 2008/2009 Table 1: Direct Cost Proposed Assessment and Rate Proposed Rate(per Proposed Direct Square Foot)for FY Costs for FY 2008-09 2008-09 First Fiscal Year Maximum S 21,642 $ 0.0476 Apportionment of Indirect (Administrafion/Reserve) Costs To ensure the imprc��-ements, acti�•iues, and sen�ices prcn�ided and funded through thc District are ccmunu�d, each parcel v��ill be assessed fe.�r administrau�-e and resen•e cc�sts (Indirect Costs). These Indirect Costs include all expenses related to the administration of the District as �;�ell as the cc>llecuon <>f mc>ne�� tc>�vards a Reserve Fund. The Reser�•e Fund Cc>llectic.�n is pre�pe�sed t� be slightl�• c>ver thirn'-fi��e percent (35.29`%�) c�f the annual Te�tal Direct Costs of the llistrict. Similar t� the meth�d of app�rtionment f�r T�tal Direct C�sts, the District's indirect cc>sts are apportic>ned to each parcel based <>n each parcePs ]c�t size in s9uare feet. The rate �ro�•ided in Table 2 is for I�iscal Year 2008/2009 onl�•. Please refer to the District Bud�et j'I'able 4) for future assessment rates. Total Indirect Cost/Total Square Footage =Rate per Square Foor Rate x Parcel Square Footage =Indlrect CostAssessmeni Component Table 2: Indirect Cost Proposed Assessment and Rate Proposed Rate Proposed Indirect (per Square Foot) Costs for FY 2008-09 for FY 2008-09 First Fiscal Year Maximum $ 12,699 � 0.0280 Total Annual Assessment Each parcel's Total Annual Assessment is the sum of their proportionate share c�f the Direct Costs and Indirect (;c>sts. The preceding description of the method c�f appe>rtic>nment outlines the estimated cc,st and rates applied fe>r the District in I�iscal Year 2UU8/U9. The rate �ro�•idc:d in Table 3 is for Fiscal Year 2U08/2009 onl}�. Please refer tc> the District Bud�;et �'I'able 4) for future assessment rates. Pa�•c 7 �Muni�in�cial Cit��o1�Pal�n De.srrr Pr�:Sident's P/rrza II!PHlD A1:rn:��e�ncnt District P/uit Fisral fe,,r2008/2009 Direct Cost Rate -F Indirect Cost Rate = Total Ra[e per Sqvare Foot Total Rate x Parcel Square Footage = Total Parcel Assessment Table 3: Total Cost Proposed Assessment and Rate Proposed Rate Proposed Direct Costs (per Square Foot) First Fiscal Year for FY 2008-09 for FY 2008-09 Direct Costs Maximum $ 21,642 $ 0.0476 Indirect Costs $ 12,699 $ 0.0280 Total Costs Maximum $ 34,341 $ 0.0756 Annual Budget Adjustmenfs I;or the fi��e ��ears c�f the term of the PBID rene�val, annual assessments ma�• be adjusted bt� the President's Plaza III PBID owners' association up to three percent (3`%) per�•ear. i�ctual annual adjustments mat• ran�e from rerc> percent (0'%) to three percent (3`%). Adjustments ma�• differ from �•c:ar tc� �•ear dependin� on the ser�•ice needs idenufied b�� the owners' associauc�n. In an}� e�-ent, assessments will not exceed the le�•els illustrated b�� the District Budget (Table 4). An}� annual bud};et surplus or deficit will be accrued into the fc.>lle��-in�; }'ear's PBID bud};et. Assessments will be set accc>rdin�l��, within the ccrostraints of the annual adjustment, to adjust f�r surpluses or deficits that are carried forward. ---- — f�a�L..� �MuniFinancial Citr u/�Paln�Desert 1'resident's I'laza Ill l'BID :M1lanxgrinent Districl 1'lan Fisca!}�•ar 2008/2009 Description of Budget Items In Table 4 Direct Benefit Costs Sweeping Servrces: ��'eekl�- cleaning of the parking ]crt and �utters usin�; a contracted, mechanized sen�ice. Landscape Contract Maintenance: Includes all re};ularl�• scheduled labc>r, material (e.g. pipe, fertilizer, insecticides), and equipment required to prc>perl�• maintain and ensure the satisfactor}• cc.mdidon of all landscaping, irri�;ation and drainage st�stems, and appurtenant facilities. All landscapin�; impro�•ements �•ithin the District are cc�ntracted for maintenance and sen�ice on a re};ular basis. The frequenc�� and specific maintenance and operatic�ns reyuired ��ithin the District�t�ill be determined b�• Cin� staff. Lighting Repair and Maintenance: This item includes repairs that are nc�t normall�� included in the }�carl�• maintenance contract costs. This ma�• indude repair c.>f dama�;ed ameniues due to �•andalism and ste�rms, as �vcll as planned up�;rades, �vhich could include replacing lighting materials c�r renc��-auon of lightin�;s�•stems. Landscape Repair and Maintenance: This item includcs repairs that are not normall�• included in the }�earl�� maintenance cc.mtract ce>sts. This ma}• indude repair c>f dama�;ed amenities due tc� �•andalism and st�rms, as �y�ell as planned upgrades, u•hich could include replacing plant materials or renovation c>f irri�;auon s}�stems. Landscape Utillties -Water.•Uuliri� c�st tc� furnish �vater for rcquired landscape irri�;ation. Stteet Lighting Utilitles -Electtic:The furnishin�; of electricit�� reyuired for the <>perauc>n and maintenance c�f the lightin�; faciliues. The Cit�� contracts f�r the furnishing of its electriciri� for street li�;htin�;, �vhich includes nc>rmal maintenance and bulb replacement. This cost does ncrt include repairs or replacement of dama�;ed faciliues due to �-andalism, accidents or st�rms. Landscape Utilitles - Electric: L'tilin� cost for furnishing e>f electricit�• required fc>r the c>�eraticm <�f the irrigation s}'stems and landscape maintenance. Indirect Benefit Costs (Administration/Reserves) Dlsttlet Administration:The cc>st tc� all departments and staff c>f the Cit�•, for pro��idin�; the c�ordination of llistrict sen�ices, operations and maintenance c�f the District, res��nse tc.> public concerns and educati�n, and prc�cedures associated ��•ith the le�•�� and collection �f assessments. This cost also includes cc�ntractin�; �t-ith pre>fessic>nals tc� pro�•ide additional administrauve, le:�;al, c.>r engineerin�; sen�ices specific tc� the District. CountyAdminlsuation Fee:This is the actual c�st. tc� the District for the Counn• tc.> cc.>llect District assessments c>n the prc�pert}• tax bills. This charge is based on a flat rate per fund number. -- - .. — -- -- PxKc•A-1 �MuniFinanciai Citv��l'Y.•�Ln Descrr President'.ti I'laza IlI PBID Ms+n:��,�c�menr District Plan Fisral}ear 2008/2009 Couttty Pet Pareel Fee; '1'his is the cost t�� the District fe�r the Cc>untti� tc> cc�llect. assessments on the prc�pert}• ta� bills. This char�;e is c�n a per assessment basis, at �0.39 per assessment, and is in additicm to the Cc�unt��rldministradc>n I�ee. Operating Resetve Fund Colleetion:The (:)peradng Resen•e Nund pro�•ides fc>r collectic.m of funds to operate the District, fc.�r each fiscal �•ear, frc>m the time period of Jul�- 1 through )anuan• «�hen th� Counn� pro�•ides the Cit�� u�ith the Frst insta]]ment of assessments cc>llected from the properri• tax bills. The Operaung Resen-e Fund eliminates the need for the Cit�• to transfer funds from nc>n-District accc>unts to pa}� for District charges durin�; the first half of rY 200G/U7 throu�;h FY 2010/2011. The Operating Kesen•e Fund ma�• als<> be used tc� c�ffset am� unfc>reseen costs such as repairs, legal fees, re��enue deficits, or increase:d costs due to inflauon or cc�ntractual a�rcements that are �reater than ori�,nnall}� planned. The Operavn� Re:sen-e Fund Collecti�n amc�unt is sli�htl}� less than fi��e percent (4.62`%) of the annual Total Direct Costs c�f the District in I�iscal Year 2008/2009. Parking Lot Maintenance Fund Collectlon:"I"he Parl:in� Lot ;�taintenance Fund pro�•ides funds f�r the sealin�; and re-striping e>f the parking lc�t after the fourth }•ear c>f the renewal term c>f the District. The parkin�;lot's total surFace area is approximatel}• 184,OU0 square feet.. Durin�; llecember 2005, the District's cost of sealin�; and re-stripin� the parkin�; Ic�t ��•as 527,200 (1�.5 cents per square foc.>t muluplied b}� 17�,�20 syuare: feet of surface area) and its cost of repairs within the parkin�; lc>t «-as �24,300 (for 8,500 syuare feet of surface area); fc�r a tc�tal cost of�51,50O. The cost of sealin�; and re-striping the parkin�; lcn's total surface area of 184,000 square feet u•�uld ha�•e been approtimatel�� 28,520 (1�.� cents per syuare foot multiplied h}� 184,O00 s9uare feet c>f surface area). Insuranee:This line item suj�p�rts insurance costs for the �peradc�n c>f the llistrict. Levy Breakdown Total Dlsttiet Costs:This is the sum total of all budgeted Direct and Indirect cc�sts. District Statistics Total Patcels:The tc>tal number�f parcels «�ithin the District. Total Patcels to Levy:Thc: total number of parcels within the District that will be assessed. :�lc>n-assessed lots or parcels includc easements, cc>mmem areas, and parcels within the bc>undaries of the llistrict that currentl�� dc> nc>t benefit fr�m the imprc>�-ements and which are not included in the T<>tal Parcels w I.e��. Total Patcels Sqi�are Footage:This is the sum total of the assessed parcels' square fc.>c.�ta};e applied to each assessed parcel within the District. Levy Rate per Direct Costs per Square Foot:This amc�unt represents the Rate f�r Direct Costs being applied to each ass�ssed parcel's indi�-idual lc�t square fc>c>ta�;e. The Le��• Rate per llirect Cc�sts is the result of di�•idin�; the estimated Total llirect C�sts fc>r that ti�ear b�� the sum of the District's Total Parcels Syuare Foc�ta�;e. The rate is calculated tc� fc>ur decimal places. _. _.. — -.- I�`th�.q_? �MuniFinancial Citt'��I�P.d�tt Desert Ptcsident'.s Pl.tz..t Ill PHID M;rna��eirient Drsrric�P/air r-:s�,,!y'e,,r1008/2009 Levy Rate per Indlrect Costs pet Square Foot.• This amc>unt represents the Rate fc>r Indirect C�sts being applied tc� each assessed parcel's indi�-idual lot syuare fo�tage. The Le�� Rate per Indirect Cc.>sts is the result c.�f di��iding the estimated Total Indirc:ct Cc>sts for that t•ear b�� the sum c>f the District's Tc.>tal I'arcels Syuare Fcx�ta�;c:. The rate is calculated tc> fr�ur decimal places. Total Levy Rate per Square Foot:This amount represents the Rate bein�; applied to each assessc:d parcel's indi�•idual l�t syuare f��tage. The Lev}� Rate j�er Square Fc>c�t is the result c�f di�•iding the estimated Total District C�sts f��r that �-ear bt� the sum of the District's Tc�tal Parcel Square Foc�tage. The rate: is calculated t<� fc�ur decimal places. District Budget The llistrict Budget sh<>«�n on the followin�; table (Table 4), lists the esumated cc>sts �f pro��idin�; the �•aric.>us impro��ements and sen-ices �vithin the District. 'I+he costs and the resultin�; rates fc>r I�iscal Year 2006/07 through Fiscal Year 201O/11 arc based on the estimated cc.�sts to pre��-ide the impro��ements and sen�ices fc�r each ��ear. Direct Costs, District and Cc>unt�� i�dministration Cc.>sts, and Insurance Costs are adjusted fc.>r the three perccnt (3%,) inflation fact<�r. The c>wners' ass�ciauon, app�inted b}• the Cit�� Council, ��ill annuall�• re��ie�v the District cc�sts and make recommendations f�r an�� changes e.�r adjustments tc� the budget. Changes tc� the budget could result in chan�;es t� the annual assessment, but the re:sulun�; total assessment ma}� nc>t exceed the maximum rates established in this Report �vithc�ut first obtainin�;propern�c��•ner apprc��•al throu�;h assessment ballc�ts. - - Pa�c A-3 �MuniFinancial Citv o1�P,-�bn Dcserr P�csidciit'.s Plaz�r I]I PBID Man:r�r�7�ent Disrrict I'lan Fisrrrl f'csrr 2008/2009 Table 4: Five Year Budget Actual Proposed Maximum Proaosed Assessment for Fiscal Years Assessment Budget Item FY 2008•09"� 2006-07 2007-08 2008-09 2009-10 2010-11 Direct Costs Sweeping Services $ 4,244 $ 4,000 $ 4,120 $ 4,244 $ 4,371 $ 4,502 Landscape Contract Maintenance 4,774 4,500 4,635 4,774 4,917 5,065 Lighting Repair 8 Maintenance 1,273 1,200 1,236 1,273 1,311 1,351 Landscape Repair 8 Maintenance 3,713 3,500 3,605 3,713 3,825 3,939 Landscape Utilities-Water 2,122 2,000 2,060 2,122 2,185 2,251 Street Lighting Utilities-Eleclric 4,986 4,700 4,841 4,986 5,136 5,290 Landscape Utilities-Electric 530 500 515 530 546 563 Subtotal Direct Costs $ 21,642 $ 20,400 $ 21,012 $ 21,642 $ 22,292 $ 22,960 Indirect Costs District Administration 3,713 3,500 3,605 3,713 3,825 3,939 County Administration Fee 186 175 180 186 191 197 County Per Parcel Fee 8 8 8 8 9 9 Operating Reserve Fund Collection 1,000 1,000 1,000 1,000 1,000 1,000 Parking Lot Maintenance Fund Collection 6,200 6,200 6,200 6,200 6,200 6,200 Insurance 1,591 1.500 1.545 1.591 1,639 1.688 Subtotal Indirect Costs 5 12,699 $ 12,383 $ 12,538 $ 12,699 $ 12,864 $ 13,034 Lew 8reakdown Total District Costs 34.341 32.783 33.550 34,341 35.155 35.994 Balance to Levy $ 34,341 $ 32,783 $ 33,550 $ 34,341 $ 35,155 $ 35,994 Districf Statistics Total Parcels 16 16 16 16 16 16 Total Parcels To Levy 16 16 16 16 16 16 Total Parcels Square Footage 453,956 453,956 453,956 453,956 453,956 453,956 Levy Rate per Direct Costs per Sq Ft $ 0.0476 5 0.0450 5 0.0464 $ 0.0478 $ 0.0492 $ 0.0506 Levy Rate per Indirect Cosis per Sq Ft S 0.0280 $ 0.0272 $ 0.0278 $ 0.0280 $ 0.0284 $ 0.0288 Total Levy Rate per Square Foot $ 0.0756 $ 0.0722 $ 0.0740 $ 0.0758 $ 0.0776 $ 0.0794 Operatino Reserve Fund Balance Previous Balance 2,000 - - 1,000 2,000 3,000 4,000 Ending Balance 3,000 1,000 2,000 3.000 4,000 5.000 Parkinq Lot Maintenance Fund Balance Previous Balance 12,400 - - 6,200 12,400 18,600 24,800 Ending Balance 18.600 6.200 12.400 18,600 24.800 31.000 Maximum annual assessments for direct cosis,district and county administration,and insurance are adjusted by 3%from the previous Fiscal Year for Fiscal Years 2007-08 through 2010-2011.The PBID Owner's Association will determine the amount of any actual increase for those years,which may not exceed 3°/a per year. "'FY 2008-09 Actual and Maximum Proposed Assessments are lhe same. _ - - Pa�c A-�l �MuniFnancial C itv ol'P;rhn Desrrr Presidcnt's Plaza III PH/D � Mana�emrnr Distrirt I'/air Fisc:t/Yc;+r 2008/2009 Sources:City of Palm Desert;MuniFinancial _ ._ _ _ _ Pa�c A-.5 �MuniFinancial Citv nl�Paln�Dc:scrr Presideiu's Plaza III I'HID M,ina�cment Disrrrct Plan Fisra!}er�r ZOUB/2009 Appendix A Assessment Diagram The Assessment Dia�;ram for the llistrict is c.�n the fc.�llo��in}; pa�c: and is inclusi��e c.>f all parcels identified c>n the Count�• c>f Riverside Assessor's Parcel `laps as Bc>ok 627, Page 192. The i�ssessment Diagram ��•ill be kept c>n file u�ith the Cit}� Clerk of the Cit�� c�f Palm Desert. - Prtr;c A-6 �MuniFinancial Citv uf I'alin Desrrr Prrsidrnt'.+Plaz,r III PB1D � :11unr��,�c�ncnt Disrrict P/a�i Fiscal f'ear Z008/2009 Appendix B Assessment Ro11 Parcel identificatic>n, for each lot c.>r parcel �vithin the District, shall be the j�arcel as shc�wn c>n the Cc�unt�� ,�ssessc>r's �tap for thr ��ear in «•hich this Repc�rt is prepared. The Assessment Roll, «�hich includes a listin�; of parcels assessed «•ithin this llistrict, alon�; �ti�ith their assessment amc�unts, is sho�i�n in Table 5 on the fc�llow•in�; pa�e. -- - - - - Yap,c B-1 �MuniFinancial t0 O tD O V O V V O O O a0 N N V � � O �A N tD � I� f� N O m � � � � c'� ;C r` 'v� w_ I� f� t0 V N (") (`7 U7 O N a0 t0 O� O ��) + .� OO � N N tD O O O m O � (O � (`� t0 ln aO � '� E C� (`') aD �A m � � f0 h N V V f7 (O ('7 (O � J C \ � N� �� N N M M M � N c`'7 � V O f O C, � t O � p�N ti aq � �a NI�L � �. .J a fA ti ` "" N �O O t0 O V O V V O O O oO N N V � � y � O U� N (O Q1 I� 1� N O � M �' � J N'�� nj h h (O V N c'7 c'7 �A O N o0 t0 � O� O O ch N (O O O O O� O Q� t0 O� c7 tD �A cD �; �(•[. o m� oo m u� rn rn rn m r� c� v v c+� � c� co �n \ C ~ � E O N N c7 fh M � N ('7 � V �' � a y N � ? � y� C U y LL � aa � � � � � ; m o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 � Q« o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (� 0 O (h O O �D (O C O o0 ch R aD N W � O M V a0 � c`� V t0 f7 � N c'7 c'7 V `LL O m m m m m aD h � f� V � V � � Q .— � c�7 � � � � M V V R � � V N (O �f7 �I � � � � � � � � y � � � � � � � � fll } } Q � Q Q Q Q � } } � 0 } } Q i � Q Q W W W W W W Q Q Q W W Q Q W Q = = a a a a a a = _ = a a = = a � � J J J J J J � � � J J � � J j = = W W W W W W = = 2 W W 2 2 W �n o 0 0 0 0 o u� o o �n �n o N I� O tD f� N m O V O N � �D N W c`7 N N N O O (h c7 ('7 C7 (") (h (h ch f7 (�'7 c'7 ch ch ch (h M � � � r � � � � � � n � � � � � Z � Q Z � � W � N � W QW � Z Z H Z m � H Z a� ; > > Q J Z � Z Z Q 1 0 Z Z Z � Q � � w Z Z I a�i Q Q � � � � � Q � U Q H U Z H � o v~i � w z m � w a � w � w w � O a J J J � � � Z Y W m w J � J Z Q Q Q � w � � Q ? � � O 0 Q � � � v o o z � a � � � v o � } z z � u~i ? = o �w a J w � w w z � � � Q J � } z Q � � � w Q LL � � � � a � > � p a Z � U � a � � Q Q Q J � Q Y J � Q J Q Q = (0 � � LL � O � J ll.� LL � Z � ll.� lL O � �U c � U (D m V O N c`� V ('7 V ln (O f� a0 m O C � O O N N N N N c'7 ('7 (`7 c`'7 c`') c`') c`') V lL �7 O O O O O O O O O O O O O O O O 'C a� N N N N N N N N N N N N N N N N . � � � QI � QI QI m � � T � � � m � � � m O � � � � � � � � � � � � � � � � � N � C — y Z I� f� h h f� h I� 1� 1� f� f� f� f� 1� 1� 1� � O �Q/ y N N N N N N N N (V N N N N N N N C LL N t0 (O (O (O (O t0 t0 t0 t0 t0 t0 tD (O (O (O c0 O � i+ a O � 7 [}� � ~ U .S N N v' � U � � � f/� n c � � N 2 � 'o C C � a co rn v o c� r� v r� �n co r� oo rn o E U LL �. � a O O � N N N N N M � ch ch ch ch ch � y •� (/) O O O O O O O O O O O O O O O O � V C � N N N N N N N N N N N N N N N N U y '•C Q m m m m O� O� m m m m m m m m m m � � � � f� f� I� h � I� I� h f� f� f� f� f� I� f� f� � > � N N N N N N N N N N N N N N N N � � � CO (D (O CO (D CO CO CO (O (O (O (O (O t0 (O (O > � r � L y 07 ` V � � � � N ('7 V � CO f� 00 � � � � � � � � fC H a Z � � in