HomeMy WebLinkAbout1990-08-28; City Council; 10806; CONSULTANT AGREEMENTS FOR FORMATION OF A MELLO-ROOS COMMUNITY FACILITIES DISTRICT.?
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DEPT. FIN
8/28/90 CONSULTANT AGREEMENTS FOR FORMATION OF A
MELLO-ROOS COMMUNITY FACILITIES DISTRICT
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RECOMMENDED ACTION:
Adopt Resolution No. Yd-328 approving the appropriation of funds to SUE
services provided by NBS/Lowry, Kadie-Jensen, Johnson & Bodnar and Brown, Ha
Burns & Hentschke.
ITEM EXPLANATION:
On January 10, 1989, the City Council directed staff to investigate the use of a M
Roos Community Facility District (CFD) as a means of implementing the ha
aspects of the City's growth management program. On February 14,1989, the Coi
authorized the hiring of NBS/Lowry to assist with the process of reviewing
feasibility of the CFD and deterrnining the amount of any special tax. Also, on
11, 1989, the Council selected the proposal from Kadie-Jensen, Johnson and Bo
NBS model and to be sure that the City can market the Mello-Roos bonds. The E
also called upon to confirm the cash flow estimate and assumptions relatec
supporting future debt service payments from CFD taxes. Also, in a previous acl
Council authorized staff to work with F. MacKenzie Brown of Brown, Harper, B
& Hentschke to provide legal assistance on this project.
At this time the staff is proceeding with formation of the Mello-Roos District w
will be presented to the Council on August 28, 1990. Preparing the docum
associated with this action has required additional effort on the part of NBS/Lo
Kadie-Jensen, Johnson & Bodnar and Brown, Harper, Burns & Hentschke. This 1
includes the preparation of maps, legal documents, delineation of assessment:
property owners, and other documents.
FISCAL IMPACR
Total appropriations for CFD related costs will be approximately $300,000 folio\
this action. Costs related to the development of the CFD special tax forrr
boundaries, and preparation of detail parcel by parcel maps of all areas covered bj
CFD total about $210,000 to date. The entire costs of District formation wil
funded reimbursed from bond proceeds. Staff is asking that Council authorize
appropriation of additional funds to support the final work on the Mello-Roos pro
The additional funds necessary totals $90,000.
EXHIBITS:
1.
as financial advisors. The financial advisor's (FA) role is to verify the results 0,
Resolution No. @--? 28 approving the appropriation of funds to sup
services provided by NBS/Lowry, Kadie-Jensen, Johnson & Bodnar and Bra
Harper, Burns & Hentschke.
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90-328 RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF CARLSBAD, CALIFORNIA, APPROVING THE
APPROPRIATION OF FUNDS TO SUPPORT SERVICES
& BODNAR AND BROWN. HARPER BURNS & HENTSCHKE
PROVIDED BY NBS/LOWRY, KADIE-JENSEN, JOHNSON
WHEREAS, the City Council has directed staff to study the feasibilit
forming a Mello-Roos Community Facilities District to augment the implement;
of the City's Growth Management Plan; and
WHEREAS, the Council has previously directed the staff to work with
NBS/Lowry to prepare the preliminary tax formula and district description foi
City's CFD and to work with Kadie-Jensen, Johnson and Bodnar for the revie
the fiscal aspects of the District; and
WHEREAS, Council has previously approved the 11 th supplement to the E
agreement with NBS/Lowry to include the work related to the City's CFD; an1
WHEREAS, additional funding in the amount of $90,000 will be neces
to support the conclusion of work and district formation documents by NBS/Lo7
Kadie-Jensen, Johnson and Bodnar and Brown, Harper, Burns & Hentschke.
NOW, THEREFORE BE IT RESOLVED by the City Council of the Cit
Carlsbad, California as follows:
1.
2.
That the above recitations are true and correct.
That funds in the amount of $90,000 are appropriated from
General Fund unappropriated fund balance to Account No. 001 -840-131 0-247
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3. That the staff is hereby authorized to continue to work with Ka
Jensen, Johnson and Bodnar, NBS/Lowry and Brown, Harper, Bums & Hentsc
under the terms of the 11th supplement to the basic agreement on issues relate
the creation of the Civs Mello-Roos Community Facilities District.
4. That the Finance Director shall apportion the additional funding he
approved, as necessary, to support services related to the creation of the City
Community Facilities District.
5. That the funds hereby appropriated shall be recovered from
subsequent bond issue or tax assessment levied by a community facility dis
formed as a result of this effort.
PASSED, APPROVED AND ADOPTED at a regular meeting of the City Cou
, 15 28th day of August of the City of Carlsbad, California, held on the
by the following vote, to wit:
AYES: Council Members Lewis, Larson and Pettine
None NOES:
ABSENT: Council Members Mamaux and Kul
ATTEST:
D&?& n/ kETHA L. MUTE
(SEAL)