HomeMy WebLinkAboutResolution 2012-40 - Community Facilities District Number 2005-1 Fiscal Year 2012 - 2013CITY OF PALM DESERT
FINANCE DEPARTMENT
STAFF REPORT
REQUEST: APPROVAL OF RESOLUTION NO. 2012-40 AUTHORIZING THE
LEVY OF A SPECIAL TAX IN COMMUNITY FACILITIES
DISTRICT NO. 2005-1 (UNIVERSITY PARK) FOR FISCAL YEAR
2012/2013.
DATE: JUNE 28, 2012
CONTENTS: RESOLUTION NO. 2012-40
EXHIBIT A
Recommendation
By Minute Motion, that Council approve Resolution No2o12-40 authorizing
the levy of a special tax in Community Facilities District No. 2005-1
(University Park) for Fiscal Year 2012/2013.
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 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. Therefore, staff requests that the resolution be approved.
Staff Report
Resolution — Authorize levy of special tax — CFD 2005-1 (University Park)
June 28, 2012
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 2012-2013 tax year and provide the City with the funds to pay the debt
service on a timely basis.
Submitted by:
Paul S. Gibson
Director of Finance/City Treasurer
CITY COUNCILAt" ON
APPROVED
MEET G DA7
AYES.,
NOES:
ABSENT:
ABSTAIN:
VERIFIED BY:
Original on File with City
DENTED
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GAFinance\Niamh Ortega\Staff Reports\CFD\approval of levy in CFD No 2005-1 fy 1213.docx
RESOLUTION NO. 2012- 40
RESOLUTION OF THE CITY COUNCIL 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 2012/2013
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 (2012/2013) 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.
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".
RESOLUTION NO. 2012- 40
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 2012/2013 Tax Roll subsequent to the submittal
deadline of August 10, 2013, 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, APPROVED AND ADOPTED by the City Council of the City of Palm
Desert, California this 28th day of June, 2012 by the following vote to wit:
AYES:
NAYS:
ABSENT:
ABSTAIN:
ROBERT A. SPIEGEL, MAYOR
ATTEST:
RACHELLE D. KLASSEN, CITY CLERK
CITY OF PALM DESERT, CALIFORNIA
APPROVED AS TO FORM:
DAVID J. ERWIN, CITY ATTORNEY
BEST, BEST & KRIEGER
GAFinance\Niamh Ortega\Staff Reports\CFD\RES-CFD2005-1 LEVY OF SPECIAL TAX fy 12-13.docx
RESOLUTION NO. 2012- 40
Exhibit "A"
Community Facilities District No. 2005-1
(University Park)
Proposed Special Tax Rates
Fiscal Year 2012/2013
Zones A — D: The following table summarizes the Maximum and the Proposed Special Tax Rates
relating to each land use class.
LAND USE CLASS
SPECIAL TAX
RATE MULTIPLIER
MAXIMUM SPECIAL
TAX RATE
PROPOSED SPECIAL
TAX RATED)
Developed 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
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 2012/2013 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
SO FT
TAX RATE
TAX RATED)
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 Pro ert
Per Acre
1N/A
$28,000
$28,000
The Proposed Special Tax Rates to be Levied for Fiscal Year 2012/2013 will not exceed the Maximum Special Tax Rates
described above.
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