HomeMy WebLinkAbout1993-07-06; City Council; 12302; RANCHO SANTA FE ROAD/OLIVENHAIN ROAD FINANCING PROGRAMUUW9Otld 9Nl3NWNlA
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RESOLUTION NO. 93-197
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAC
CALIFORNIA DIRECTING CITY STAFF TO DEVELOP AN ALTERNATE
FINANCING PIAN FOR RANCHO SANTA FE ROAD AND OLIVENHA
FOR ZONES 11 AND 12.
ROAD AND TO REVISE THE LOCAL FACILITIES MANAGEMENT pwr
WHEREAS, the City Council of the City of Carlsbad has determin
that it is in the public interest to provide for the financing of the construction
various sections of Rancho Santa Fe Road and Olivenhain Road, herein referr
to as the Project; and
WHEREAS, the construction of these road segments is importan’
the creation of a circulation system that will serve the ultimate needs of the citizf
of the City of Carlsbad: and
WHEREAS, financing for the Project is identified in the Local Facilii
Management Plan for Zones 1 1 and 12 as a developer responsibility, and the (
Council has considered the need to create a financing program for the Project t
is both reasonable and achievable for the City and the property owners chars
with providing funding for this project; and
WHEREAS, the City Council recognizes that it is not necessan
construct all portions of The Project in a single phase to accomplish the Ci
goal of providing a high quality circulation system, pravided that financing for
entire Project is guaranteed to the satisfaction of the City Council; and
WHEREAS, the creation of a Community Facilities District to fund
construction of the Project can best meet the needs of the City and the prop
owners by providing flexibility in timing of construction of the improvements;
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WHEREAS, California Pacific Homes, owner of Tentative Tract MI
CT 85-0. and the San Dieguito Union Hiah School District have entered intc
contractual agreement providing for' their joint development of certain puk
improvements necessary for construction of the South Carlsbad High School
a site adjacent to CT 85-9; and
WHEREAS, in order for California Pacific Homes to fulfill
obligations under the agreement with San Dieguito Union High School Distric
will be necessary for California Pacific Homes to obtain City Council approva
a final map for CT 85-9, in compliance with all conditions of approval placed
the map and contained in the Local Facilities Management Plan for Zone
including the Zone 11/12 Financing Plan: and
WHEREAS, the City Council recognizes that there is a substar
public benefit to the San Dieguito Union High School District and the resident
Carlsbad created by providing an alternate financing program for Rancho S:
Fe Road and allowing California Pacific Homes to proceed with the developrr
of their project; and
WHEREAS, the City Council wishes to provide for an interim
program which would constitute an interim financial guarantee for the Prc
pursuant to Growth Management to allow approved tentative maps to be fin;
and building permits to be issued while steps are being taken to form the (
NOW,THEREFORE, BE IT RESOLVED by the City Council of the
of Carlsbad, California, as follows:
1. That the above recitations are true and correct.
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2. That the City staff is hereby directed to proceed with tl
creation of documents to form a Community Facilities Distr
(CFD) consistent with City Council Policy No. 38 to finan\
the construction of the Project.
That the City staff is hereby directed to proceed with t
creation of documents to establish an interim fee progre
including related agreements and waivers as deer
necessary and appropriate by the City Attorney, to finar
the Project in advance of formation of the CFD. Such
program shall not, in and of itself, be deemed to providc
sufficient long-term guarantee for construction of
improvements pursuant to Growth Management. 3
execution of agreements to participate in, and ultimat
actual formation of and participation in the CFD financ
program will be required to meet Growth Managerr
standards. However, the interim fee program and rek
agreements and waivers shall constitute an adequate intt
guarantee to allow approved tentative maps to be finE
and building permits to be issued while formation of the 1
is proceeding.
That the Staff is hereby directed to revise the approp
sections of the Zone 1 1/12 Financing Plan to be consi!
with this action, and to present these revisions to the
Council for approval.
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5. That the amount of $3S,OOO is hereby appropriated from 1
General Fund Balance to the Rancho Santa
Road/Olivenhain Road Project Account to fund prelimin
costs related to the creation of the CFD and the interim
program. These costs are to be repaid to the General Fi
from fee or CFD revenues.
PASSED, APPROVEDD AND ADOPTED at a regular meeting of
day City Council of the City of Carlsbad, California, held on the 6th
JULY , 1993, by the following vote to wit:
AYES: Council Members Lewis, Stanton, Kulchin, Nygaard,
NOES: None pL.4yL ABSENT: None
,‘P
IAUDE A. LEWIS, Mi
ATTEST:
A&*WLE