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Home My WebLink About1990-04-03; City Council; 10571; PALOMAR AIRPORT ROAD WEST ASSESSMENT DISTRICT STATUS REPORT0 QI \ m 1 e .. z 0 4 e 6 8 z 3 In preparing the appropriate approval documents, staff completed a detailed revie1 of project funding and alternative projects. STATUS OF FUNDS The following is an analysis of the financial resources of the District pending fir^ assessment accounting. c 0 0 PAGE TWO OF AB# /< 57/ Bond Fund Status Net Bond Proceeds (including interest earned) $4,343,079 Property Owner Costs (outside lanes, right-of-way, water) $3,780,262 APPROXIMATE BOND FUND BALANCE $ 562,817 City Expenditures Total City Appropriation $3,666,048 Center four lanes and median $2,667,489 Traffic Signal @ College 136,300 Agricultural Frontage 730,791 TOTAL $3.534.580 APPROXIMATE CITY FUND BALANCE $ 131,468 The Engineer's Report for the District identified $350,000 of District funds for right. of-way contingencies. At the time of District formation, a number of parcels of right. of-way remained to be acquired. This fund was intended to cover any unanticipatec cost overages in right-of-way acquisition. At this date one parcel remains in litigatior under eminent domain procedures (Morgan/Palomar Trust). Final acquisition cost: are not known at this date. Any settlement of this case exceeding the $62,876 woulc reduce the $562,817 bond fund balance. Acquisition costs are difficult to project ai this time but could involve in excess of an additional $100,000. FUND UTILIZATION ALTERNATrVES Procedures under the Municipal Improvement Act of 1913 allow remaining bond funds to be utilized in three (3) ways: 1. Following a two (2) year period, credit unexpended District funds to the District participants' annual assessment obligation. Use for street maintenance purposes. Use for additional work within the District boundaries. This requires adoption of the Change of Work and Modification of Procedure in Assessment District findings. 2. 3. 0 0 PAGE THREE OF AB# /a/ s7’1 Return Funds As noted above, landscaped median, sidewalk, and streetlights were not included ir the District to reduce costs. The property owners have the obligation to install these improvements concurrent with future development. Any surplus bond funds may be returned to the property owners through a reduction of annual assessmenl obligations. The amount of funds to be returned ($562,000) would cover betweer one and two years’ assessment obligation for all property owners and could be utilized by property owners to offset future improvement costs. The City‘s share ol surplus funds totals $131,000. This amount could be returned to the General Capita Construction Fund and the Public Facilities Fee Fund to support other C.I.P. projects Maintenance Oblinations The City will be required to maintain mitigation landscaping along the southerlj slope of Palomar Airport Road. This maintenance is estimated to be $21,00( annually until such time as abutting development assumes that obligation Remaining District funds could be utilized to offset these ongoing maintenance cost: as well as maintenance of roadway signing, striping and erosion control. Utilizatior of funds to offset increased maintenance costs will directly reduce impacts on tht General Fund. Council may wish to reserve funds from the bond issue surplus tr cover maintenance costs for a two to five-year period. This reserve would tota $42,000 to $125,000. (PFF funds may not be used for maintenance costs.) Proiect Alternatives There are four (4) possible projects within the District which could be considered fo construction. The following are preliminary estimates to construct thes improvements: A. Landscape and irrigate medians $ 636,300 B. Underground overhead electric lines $1,185,000 C. Streetlights $ 90,000 D. Sidewalks $ 185,000 The following evaluation of the four (4) options is offered for consideration: A. Landscape Medians: This project would bring the medians to City standard: Previously installed sleeves under the pavement for waterlines will minimiz traffic control problems. The current asphalt median does not reflect the standards normally adhere to by Carlsbad in presenting a finished, aesthetically pleasing project. Futur segmental construction of the median concurrent with development wi involve repeated traffic disruption and result in a more piecemeal program e e PAGE FOUR OF AB# /<, J?/ which would result in an even less attractive street scene. It would be most desirable to improve the median; however, the estimated construction cost of $636,300 exceeds bond funds available and would require augmentation with City funds. Construction of median islands would also involve an additional ongoing annual maintenance obligation of approximately $9,000. Under this option the City would be required to fund a portion of this project, Assessment District funds would provide up to $563,000. The City would be required to provide up front an estimated minimum of $73,000 in Genera Capital Construction Funds. These funds would be subject to reimbursemenr upon future development. B. Undermound Electric Lines: This project would underground existin$ overhead electric lines on the north side of Palomar Airport Road. The Huntington Beach Company has 48% of the total overhead lines along thei frontage. These will be undergrounded at their expense when they obtain tht final map and begin developing. The remaining frontage is along the Carlta: Company and the majority of their frontage is in an agricultural preserve an( will not develop for some time. Cost: $1,185,000 with insufficient find: available. Benefit: The benefit accrues only to properties on the north. Construction of this project would require significant City augmentation an( detract from other undergrounding projects throughout the City. Streetlights. Sidewalks: These projects would install streetlights at standarc 400-foot spacing or put in sidewalks along all frontages. As no utilities (sucl as gas, electric, cable television and telephone) have been placed behind thc sidewalk area, installing either streetlights or sidewalks now would subjec them to damage and cause interference with the later utility construction. Pedestrian circulation within the area is minimal. The sidewalk area is gradec and easily traversable by pedestrians who may be in the area. Street lighting along the roadway would not appreciably increase traffi safety, would increase energy costs, and light standards would be subject ti damage when future construction is completed. C. Recommendation: Staff recommends that the Council hold action on this item pending resolution of a land acquisition matters. At that time a public hearing should be held with Distric property owners to again review alternatives for the distribution of remaining surplu funds. e e PAGE FIVE OF AB# /d, 571 FISCAL IMPACE: The City Council currently has approximately $563,000 in Assessment District funds and $131,000 in PFF and GCC funds remaining in the Palomar Airport Road West Assessment District Project Account. If the Council elects to return these funds to the property owners and the City, property owners would receive a credit against future assessments equal to the amount of the surplus District funds, and the City would free PFF and GCC funds for use on other capital projects. The Council would have the opportunity to docate these funds as part of the next Capital Improvemenl Program. EXHIBJTS: 1. Location Map. 2. List of District ownership. PA*JECT NAME PALOMA R A) RPORT ROAD rPRoJe No* ASSESSMENT DlSTRl CT 31 51 v EXHIBl I - e 0 PROPERTY OWNERS PALOMAR AIRPORT ROAD WEST ASSESSMENT DISTRICT Paul Ecke, Sr. Post Office Box 607 Encinitas, California 92024 Carltas Company 4401 Manchester Avenue Suite 206 Encini tas, Cal i fornia 92024 Huntington Beach Company 2110 Main Street Huntington Beach, Calfiornia 92648-2499 Richard C. Kelly & Robert P. Kelly Carroll R. & Alice L. Kelly c/o Robert P. Kelly 2770 Sunny Creek Road Carlsbad, California 92008 Cornell Associates, Ltd. 12625 High Bluff Drive Suite 201 San Diego, California 921 30 Nazeah & Josephine Aladray Post Office Box 2308 Rancho Santa Fe, California 92067 Birtcher Campbell Properties Post Office Box A-1 Laguna Niguel, California 92677-1 078