HomeMy WebLinkAbout1986-03-25; City Council; 8559; CANNON ROAD ASSESSMENT DISTRICT WORKSHOP3
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( CFW OF CARLSBAD - AGENe BILL
AB# f557 TITLE: DEPT. HD~
MTG.3/25/Rh CANNON ROAD ASSESSMENT DISTRICT CITY ATTYJ
DEPT..FNI: CITY MGR.-
RECOMMENDED ACTION:
WORKSHOP
By motion, consider going forward with an assessment district for improvemen
of Cannon Road and construction of a sanitary sewer line therein an
alternatives available for financing these improvements.
ITEM EXPLANATION
At the request of several developers, Council authorized the Cannon Roa
Assessment District at their November 27, 1984 meeting. The developers pai
an $80,000
Report. The report was completed and scheduled for the Council meeting c
April 23, 1985. However, due to a number of concerns, several of tt
developers requested that the item be removed from the agenda.
Through requests from and discussions with property owners and developers j
the
majority of those involved. Neste, Brudin & Stone has prepared a prelimha1
assessment spread in accordance with the property owner/developer proposal.
The assumptions involved in the proposal by the property owners/develope~
includes the following:
1. SDG&E has zero assessment.
2. Carltas (Ecke) has zero assessment.
3.
deposit to cover initial costs and the City hired Neste, Brudin
Stone (NBS) to do the assessment engineering and prepare the Debt Limi
area, a financing method has been developed which appears acceptable to
SDG&E
in PFF in conjunction with future development.
SDG&E will enter into a reimbursement agreement with City for improvemenl
constructed adjcent to their property (reimburse City at time t
development).
will dedicate necessary right-of-way and receive equal value cred:
4.
5. Carltas will enter into a reimbursement agreement with City for improv
rnents constructed adjcent to their property (reimburse City at time
development).
The City of Carlsbad, as property owner (Macario Canyon), will participa
in the cost of the sanitary sewer improvement in the district.
The City of Carlsbad, as property owner (Macario Canyon), will participa
in the cost of Cannon Road improvements between Interstate 5 and t
westerly boundary of Kelly Ranch.
6.
7.
I
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Page 2 of Agenda Bill No. 8ssq
8. The cost of the road improvements to be assessed to the City of Carlsbad
SDG&E and Carltas will be assessed to others in the district who wil
receive a credit against future PFF at the time of building permi
issuance.
There will be no future credit for sanitary sewer construction. 9.
A
of City contribution to district):
preliminary summary of the assessment spread is as follows (with breakdow
SPREAD 10
ASSESSMENTS FOR
STREET SEWER TOTAL
Developer/Property Owner $ 9,981,279 $ 6,907,866 $16,889,145
City of Carlsbad $ 504,986 $ 655,569" $ 1,160,555
TOTALS : $1 0,486,265 $ 7,563,435 $1 8,049,700
City of Carlsbad Contributions:
City share sewer cost
PFF Credit to Developer for
$ 655,569"
City share road Improvement
Reach I costs $ 504,986
SUB-TOTAL $1,160,555
PFF Credit to Developer for
remaining road improvement
Reach I $2,623,803
TOTAL CITY CONTRIBUTION $3,784,358
The property owners/developers put up all of the front money to construct tt
improvements for this district (with the exception of the City of Carlsb:
property owner share of the sewer improvement) and will receive $3,128,7'
reimbursements for construction of Cannon Road between Interstate 5 and t
westerly boundary of Kelly Ranch in the form of PFF credits at the time
development.
FISCAL IMPACT
Funds are availabe in the sewer fund to cover the cost of the City proper
owner proportionate share of the sewer improvement cost of $655,569.
appropriation of $3,128,789 is needed in Public Facilities Fees Fund to cov
the street costs for Reach I. This may be reimbursed if Ecke and SDG
property eventually develops.
* Up front cost to the City of Carlsbad