HomeMy WebLinkAbout1993-09-14; City Council; 12395; UPDATE ON COMMUNITY FACILITIES DISTRICT - CFD NO. 2 - RANCHO SANTA FE ROAD, AND APPROVAL OF PREPAYMENT AGREEMENTT
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MTG. UPDATE ON COMMUNITY FACILITIES DISTRICT
(CFD NO. 2) RANCHO SANTA FE ROAD, AND
/14/93 ~
DEFT. GM APPROUAL OF: PRLPAYMLNT ACRBEMENT CIT
RECOMMENDED ACTION:
Adopt Resolution No. 9J-&ia Approving the Form of a Prepayment Agreement.
ITEM EXPLANATION:
On July 27, 1993, staff updated the City Council on the status of the recent effort
create a financing plan for Rancho Santa Fe and Olivenhain Roads. Since that mee
the property owners and staff have worked diligently on both the project definition
financing proposals to reach agreement on a financing plan which could be presa
to the Council at this meeting. These joint efforts have succeeded in creating
financing program described in the following report. The final financing program
be presented to the Counc2 as soon as outstandkg &ht-of-way, and &or forn
issues can be resolved.
The purpose of this report is to update Council on the status of the Community Fad
District formation process, and to ask for Council approval of an agreement that
allow certain property owners to prepay their obligation for Rancho Santa Fe
Olivenhain roads.
Status of formation process
Following the July 27 Council meeting, staff called a meeting of all property ow
subject to the Rancho Santa Fe and Olivenhain financing conditions. This mee
resulted in the creation of two working groups, one focusing on project definition
cost estimates, the other focusing on the financing issues and taxing formula. TI
subcommittees held several meetings between July 28 and August 23. On August
1993 both committees presented the results of their work to the property owners grc
There L now a general consensus on issues related to project cost and timing, and
tax formula among the propeq owners. The key points of each issue are summan
below.
- Cost - The City Engineer has established that the cost estimate for the construction of
Rancho Santa Fe and Olivenhain Road improvements is approximately $37 million. ’
project will be constructed in four stages over a time period of approximately 16 ye
The property owners have asked that the City include the construction of a drain
basin and certain intersection improvements at Olivenhain and Rancho Santa Fe Rc
in the project description. Although these improvements were previously excludec
the City, the City Engineer has agreed to the inclusion of these improvements.
Taxing Formula - The taxing formula was developed by the financing subcommittee. ‘
formula includes three basic parts: the One-The Tax, the Undeveloped Land Tax, i
the Special Deficiency Tax. Although the entire taxing formula will be explainec
detail when the Council considers adoption of the Resolution of Intention at a fut meeting, in general these taxes are as follows:
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- 0 e Page Two of Agenda Bill No. /2,395
r One-Time Tax - The CFD formula will set a tax that will be paid by each devel
at the time a building permit is pulled. This tax extinguishes any and all fi
obligation for the project under construction. In the case of a residential dwel
it is this tax that ensures that the home owner will not have a CFD tax to pi
subsequent years. While the exact amount of the tax is still subject to change a
CFD documents are finalized, the current calculations set the tax at $10,25(
dweUing unit.
Undeveloped Land Tax - The CFD will be empowered to place a tax on undevel
land in certain instances. These include 1) to make debt service payments,
repledsh a debt service reserve funds or other funds used to cover annual
service payments, 3) to pay administrative costs. The undeveloped land tax M
only be used in cases where the CFD was required to pay for debt service or 1
obligations that could not be funded from the cash flow from one-time taxes
into the fund.
Deficiency Tax - This is a tax that is being established to protect the District
decreases in development. The funding formula assumes that approximately 2
units will ultimately be developed in the area. Although this number is well b
the expected yield on the property included in the CFD boundaries, if develop]
densities should decrease the CFD will still be required to fund the full project.
deficiency tax will be imposed when a final map calls for fewer units to be
than are anticipated by the CFD documents. Developers have reviewed the estin
used in the CFD projections and have agreed to this condition.
Calendar - The district formation process is slightly behind schedule due to issues re
to the acquisition of right-of-way. These issues are bekg addressed by Fieldstone ant
City and should be resolved quickly unless Fieldstone is unable to dedicate the nece
right-of-way. If this becomes an issue, the calendar for District formation ma
significantly extended.
The Calendar staff is recommending to the City Council calls for approval of the prepay
agreement before the Council at this time, followed by the adoption of a Resolutic
Intention (ROI) to form the CFD a few weeks later. The approval of the Prepay
Agreement will allow the City to meet the School District's needs for certainty on
grading schedule, while the delay of the ROI will allow the City to gain certainty abou
availability of right-of-way.
CFD law provides for two calendars for formation. The more common schedule calls fo
adoption of the Resolution of Intention to form the District, followed in 30 to 60 da!
a public hearing. The Council then sets a date for the election 90 to 180 days afte
public hearing. A shorter calendar allows the Council to call for the election immedi
period requirement. These two calendars are summarized below: if 100% of the property owners withm the District have waived the 90- to 180-day wa
0 0 Page Three of Agenda Bill No. I2t345
-_ Optional Calendars for CFD Formation:
Staff is still reviewing the pros and cons of recommending a District boundary
including 100% of the property conditioned with the guarantee of these roads. If 100
the property owners waive the statutory waiting period for calling for a vote, an elec
could be held in late November or early December. With the diversity of pro1
ownership of the District, it is unlikely that the City will receive a waiver from all pro]
owners, therefore it is more likely that a vote will be called for in February to April 1
Prepayment Ameement - The attached Prepayment Agreement has been drafted to a
those property owners with pending final maps to proceed through the approval proce
prepaying their obligation for Rancho Santa Fe and Olivenhain Roads. This prepayme
designed to cover their fair share of the costs even if the proposed CFD fails to be fon
The Agreement would allow the City to collect a lump-sum fee prior to approval of a
dwelling unit at building permit. The Prepayment Agreement requires the property 01
to pay an amount that is in excess of the amount that would otherwise be required u
the CFD. This excess amount is necessary to finance the projects on a pay-as-you-go 1
in the event that the CFD is not formed. If the CFD is formed, the property owner
receive a refund of any excess payments.
In approving the form of this Agreement the Council will be making two si&
findings. First, the prepayment of the property owner's fair share represents an adeq
financing guarantee under the Growth Management Program. This finding is based 01
special case assumption that a CFD is in the formation process, and it is the CFD w
actually provides the financing guarantee. And Second (as in the case of California P:
Homes), the Council will find that the size of the proposed development (102 units)
not create a major impact on the existing facilities. The City Engineer agrees With t
findings as they relate to California Pacific Homes.
map for all units included in that final map and an additional amount from each equivi
0 e Page Four of Agenda Bill No. da! 39 5
In spite of the fact that this Agreement allows the City to meet the San Dieguito Un
High School District's deadline for a decision on the California Pacific project, the Sch
District may not be able to proceed with their grading schedule due to environmer
issues.
Revision of Local Facilities Financinn Plans - Zones 11 and 12 - Council will also
asked to approve a minor modification to the finance plans for Local Facili
Management Zones 11 and 12 at a future meeting. This change will allow the use (
Community Facilities District or other financing mechanisms to fund Rancho Santa
and Olivenhain Roads. The present financing plan specifically calls for the formatioi
an "Assessment District" to fund this project. This change is necessary if the Counc:
going to make the finding that a CFD or pay-as-you-go program can be used to proa
a guarantee of funding for these projects. This change is consistent with financ
programs implemented in other Local Facilities Management Zones.
FISCAL IMPACT:
The funding of Rancho Santa Fe and Olivenhain Roads has been a major project for
City for many years. The successful development of a financing plan that will sup1
the improvements to these roads through a phased development program and a ratia
CFD is a significant accomplishment. The projects will cost about $37 million
construct (in 1993-94 dollars), and will affect the development of about 2,400 acre:
land in southeast Carlsbad.
The City's obligation for improvements is limited to the contribution of $6 million fi
Community Facilities District No. 1 to these projects. The contribution will be time(
avoid conflict with other projects funded by CFD No. 1. The City is funding some of
CFD creation costs including limited engineering and financial consultant fees. Cou
has previously appropriated $30,000 for financial consultant services. These funds 7
be reimbursed to the City from CFD No. 2 as funds become available.
EXHIBITS:
Resolution No. 93-2@ Approving the form of a Prepayment Agreement.
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RESOLUTION NO. 9 3 - 2 6 2
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA, APPROVING THE FORM OF A
PREPAYMENT AGREEMENT BETWEEN THE CITY OF
CARLSBAD AND CALIFORNIA PACIFIC HOMES
WHEREAS, the City of Carlsbad City Council has required that the fun&
Rancho Santa Fe Road and Olivenhain Road (Project) must be guaranteed before
development takes place in the area bounded by Local Facilities Management Zones 11
12, and portions of Zone 6, and
WHEREAS, the Council had directed City staff to proceed with the formation
Community Facilities District (CFD No. 2) to finance the Project, and
WHEREAS, although the Council anticipates that CFD No. 2 will be formed fi
near future, the Council is willing to consider alternative financing proposals durinl
period from the present to the formation date of CFD No. 2, and
WHEREAS, such interim financing program will only be considered as long a:
Council finds that the formation of CFD No. 2 is proceeding in a reasonable manner,
WHEREAS, the Council finds that the formation of CFD No. 2 is proceeding
reasonable manner, and
WHEREAS, the Council finds that the guarantee provisions related to the Project
be met through an interim financing program using an agreement between certain pro]
owners and the City whereby the property owner agrees to prepay hidher fair share of
associated with the Project, and
WHEREAS, CaUoda PacXc Homes &tends to bdld a 102 u&t developmei
Local Facilities Management Zone 11, and
WHEREAS, the City Engineer has determined that, due to the size of the Calif(
Pacific Homes development, there will be no major impact on the circulation system a
present time if the California Pacific Homes development is allowed to proceed, and
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WHEREAS, the Council finds that California Pacific Homes may enter inta
attached Agreement to Pay Fair Share (Exhibit A) in satisfaction of their obligation u
the Project financing conditions.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Carl:
\
That the above recitations are true and correct.
That t&,form of the PETITION, WAIVER AND CONSENT TO CREATIOI
A COMMUNITY FACILITIES DISTRICT AND AGREEMENT TO PAY
SHARE, Exhibit A attached here to, is hereby approved.
That the Mayor is hereby authorized to enter into the agreement shov
/\ California, as Tollows:
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2.
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Exlubit A with California Pacific Homes.
PASSED, APPROVED AND ADOPTED at a regular meeting of the City Council o
day of
NOTES:
AYES:
ABSENT:
, 1993, by the following vote, to wit:
I CLAUDE A. LEWIS, Mayor
ATTEST:
ALETHA L. RAUTENKRANZ, City Clerk
(SEAL)
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. RECORDING REQUESTED BY AND 1 WHEN RECORDED MAIL TO: 1 City Clerk 1 CITY OF CARLSBAD 1 1200 Carlsbad Village Drive )
Carlsbad, CA 92008 1
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SPACE ABOVE THIS LINE FOR RECORDER' l
Parcel No.
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PETITION, WAIVER AND CONSENT TO CREATION
OF A COMMUNITY FACILITIES DISTRICT
AND AGREEMENT TO PAY FAIR SHARE '\
WHEREAS, the undersigned Property Owner at this ti
processing for development within the City of Car
(hereinafter referred to as llCityll) a development project
and identified as
\
(hereinafter referred to as the l'Pro]ectgl) ; and
WHEREAS, City has determined this Project to be lo
within the boundaries of a proposed community facilities dis
known as Community Facilities District No. 2 - Rancho Santa F
Olivenhain Road (hereinafter referred to as 11District11); an
WHEREAS, the District is intended to be forme
finance those improvements generally described in Secti
herein,
WHEREAS, Property Owner desires to proceed wit1
processing prior to the formation of the District; and
WHEREAS, the Local Facilities Management Plans for
11 and 12 require the guarantee of construction of the segmen
Rancho Santa Fe and Olivenhain Roads described in Section 1 h
prior to the recordation of any final maps or the issuanc
building permits within the zones; and
pet.waw/aEdlrev. 9/6/93
0 0 WHEREAS, compliance with the applicable Local Facili
-. Management Plans for Zones 11 and 12 is a condition of appr
for the tentative map for the Project; and
WHEREAS, the Property Owner desires to agree t
alternate method of financing the improvements describe(
Section 1 herein ‘in order to proceed with the processing of
Project and voluntarily enters into this agreement; and
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WHEREAS, the City Council has determined that due tc
size of the proposed development, there will be no major impac
the circulation system at the present time if development 01
Project is allowed to proceed with sufficient financial guarar
for future construction of Property Owner * s fair share of
circulation improvements.
WHEREAS, the City Council agrees that Property Ot
upon entering into this agreement and upon payment of the
share described herein, has met the requirement set forth ir
Local Facilities Management Plan for Local Facilities Zones 1
12, and related tentative map conditions, to provide a finar
guarantee for the construction of those improvements describc
Section 1,
NOW, THEREFORE, in consideration of proceeding wit1
processing of the Project, the undersigned Property Owner ht
agrees and certifies to the following:
1. Property Owner hereby petitions the City foi
initiation of proceedings for the formation of a District I
will cause the construction and installation and/or financii
the following improvements which are more specifically desci
in the Local Facilities Management Plan for Zones 11 and 12
/I/
pet.waiv/afd/rev. 9/6/93
2
I 0 0 a) Rancho Santa Fe Road North Phase 1 (RSF Nc
La Costa Avenue to east of Mahr Reservoir
b) Olivenhain Road Widenins, and intersec
immovements at Olivenhain and El Camino Real
C) Rancho Santa Fe Road North Phase 2 (RSF N(
Phase 1 End to Melrose /
Secondary Arterial - Enbinitas /
Drive
d) Rancho \ Santa Fe Road South (RSF So. 1 (Ass
City Boundary to Olivenhain
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\ Full ImDrovements) . '\ \
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2. The cost of engineering, legal and other incidc ,
expenses will be included id the District costs.
3. Property Owner! acknowledges its right to notic
and participation in all phases of formation under the I1Mello-
Community Facilities Act of \ 1982,tl expressly waives
proceedings required and all limitations contained in Tit1
Division 2, Chapter 2.5 of the California Government Code
nonetheless with full knowledge of such rights, completely
forever waives such rights. Specifically, Property Owner he
consents to the proceedings and waives any right to protest
formation of the District and the ordering of the improvem
under applicable California statutes and consents to and supp
formation of said District.
I
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4. The property owned by the undersigned, which w
be included within the boundaries of the District and assessed
its proportionate share of the costs and expenses, is describe
Exhibit "Av1, attached hereto, and incorporated by reference.
5. a) Property Owner agrees to pay to City its
share for the improvements described in paragraph one (1).
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pet.waiv/afd/rev. 9/6/93 3
0 e b) Said payment shall be made in the m;
described in Exhibit A.
c) The amount of Property Owner's fair share
be conclusively dehermined by the City Council in the mi \
described in Exhibit A attached hereto.
d) Payment by Property Owner of its fair sha!
improvement costs as determined by City Council and set 1
herein will satisfy its obligations for the construction 0%
improvements described in paragraph one (1).
\
e) Alternatively, If the District is formed
Property Owner is included within it, Property Owner I s obligat
to pay its fair share pursuant to the agreement shall be satis
upon payment of all taxes imposed, established and payable to
District.
f) Any payment received by the City under
agreement shall be deposited in a special fund and may on1
used to fund the construction of the facilities described her
Upon the formation of a CFD to fund these same facilities,
amount remaining in the special fund may he transferred to thc
Fund, at the discretion of the Finance Director.
6. Property Owner acknowledges that this agreemer
pay its fair share and participate in the financing
improvements is voluntary and that without this agreement Proy
Owner would be precluded from obtaining final map approval,
building and other development permits under the provisions of
General Plan, Chapter 21.90 of the Carlsbad Municipal C
applicable zone plan, financing plans and related documents.
Property Owner hereby waives his right to chall
the amount, establishment or imposition of said fair share
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pet.waw/a€d/rev. 9/6/93
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further waives 0 any rights to pay said fair a share under prote:
-_ 8. This document does not affect, in any
whatsoever, the obligation of Property Owner to pay any other
or assessments associated with the project.
9. Pro$erty Owner agrees that payment of its
share is not a fee and waives any and all rights to notice c
challenges to the establishment or imposition of said fair E
as a fee under provisions of Government Code sections 6600
sea., or any successor or related statutes.
10. a) If the District is formed subsequent to
payment by Property Owner of the fair share pursuant to
agreement, Property Owner's financial obligation shall
recalculated using the taxing formula established for
District. If that obligation is different from the an
previously paid by Property Owner to the City, the City E
refund any excess, or Property Owner will pay to the City
additional amount due (Shortfall).
b) Any refund shall be made from funds avail
within the District and shall not be an obligation of the ci
General Fund or other revenue sources.
c) In the event that insufficient funds
available from the District's resources, Property Owner shal
reimbursed as soon as sufficient funds become available
determined by the City Council, through the payment of one-
taxes or annual undeveloped land taxes to the District. The
is not required to establish an undeveloped land tax withir
District to provide such refund.
d) No reimbursement is required until the
Council determines that sufficient funds are available.
pet.waiv/afd/rev. 9/6/93 5
refund shall e include simple interest at ? he rate earned by
City on any invested funds during the period of the deposi
computed by the Fi ance Director.
e)
7, Any Shortfall shall become due and payable
the formation of the District and the computation of
Shortfall by the Finance Director.
be delivered to Property Owner at the address shown herein.
Notice of such Shortfall E
f) Propert2 Owner shall pay the City interes
any Shortfall due. Such interest shall be computed using sj
interest at the rate earned by the City for invested funds dL
the period from the original payment through the date of pal
of the Shortfall as determined by the Finance Director.
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g) If no payment of the Shortfall is mad
Property Owner within ninety (90) days of notice of said Short
by the Finance Director, the City may revoke any existing buil
permits, deny or condition certificates of occupancy or additj
building permits and take any other action allowed by law to
further development of property subject to this agreement ar
collect such Shortfall including, but not limited to, a lie
the property. City's recordation of a lien shall not affect
ability to recover the Shortfall by other legal n
concurrently, but no double recovery will be a1,lowed. The cos
such collection shall be an obligation of Property Owner and E
be added to the amount of the shortfall payment due City.
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11. If the District is not formed for',any reason,
amount paid by Property Owner under this agreement shall repre
Property Owner's fair share cost for provision of those facili
described in paragraph one (1) and no further payment'will bt
from or reimbursement due to property owner.
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pet.waiv/afd/rev. 9/6/93 6
0 e ..
12. Compliance with this agreement will be accept€
the City as an alternate to the method described in the cur
Local Facilities Management Plan for Zones 11 and 12 for finar
the improvements described in paragraph one (1). This agree
\ does not require the City to issue building permits or c
\ \ development permits or,grant approvals or relieve Property C
of the obligation to comply with all applicable provisions of
including but not limited to, Carlsbad Municipal Code Titles
19, 20 and 21.
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13. Compliance with the provisions of this agreemei
a condition of all discretionary approvals for the Project.
Property Owner does not comply with the provisions of
agreement, approval of the Projbct will not be consistent wit1
General Plan, the Growth Management Program, the Local Facilj
Management Plan or the applicable\financing plan for Zones 1:
12 and all discretionary approvals, and permits for the Prc
shall be null and void, including approvals or permits which
granted prior to the date of this agreement.
\
14. In addition, the City will not approve
pending final maps, issue grading, builqing or other develor
permits or take any discretionary action until the property c
has complied with the terms of this agreement. \
\ 15. The City may, at its discr'etion, elect to pi
any remedy, legal or equitable against property owner and pro1
owner's successors, heirs, assigns, and transferees, to sc
compliance with this agreement.
16. City shall not, nor shall any officer or emp:
of City, be liable or responsible for any loss or damage inci
by Property Owner or any successor or assign of Propqrty Owne
pet .waiv/afd/rev. 9/15/93
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0 0 by any occupant in Property Owner's buildings, as a result of
exercise of any remedies provided to City in this agreerr
Property Owner agrees to indemnify the City for any liabili
incurred by City as a\result of City's exercise of these remed
17. This agEeement and the covenants contained he
shall be binding upon and inure to the benefit of the success
heirs, assigns and transferees of Property Owner and City
shall run with the real property and create an equitable servi
upon the real property.
18.
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All notices provided for under this agreement I
be in writing and shall be delivered in person or serve
certified mail postage prepaid. Delivery of notice to Pro1
Owner shall be presumed to have been made on the date of maj
regardless of receipt by Property Owner. Notices required t
given to Property Owner shall be addressed as follows:
Notices to the City shall be delivered to
Finance Director, City of Carlsbad, 1200 Carlsbad Village Dr
Carlsbad, CA 92008.
19. This agreement shall be recorded but shall
create a lien or security interest in the property.
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pet.waiv/afd/rev. 9/6/93
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d 0 0 .-
20. The undersigned further states, under penalt
- .. perjury, that he is the owner of the property as described
herein, and has the authority to execute this document, inclc
the binding author'zations herein.
X
d
day of , 1s \ Executed t is - \,
\
\ PROPERTY OWNER CITY OF CARLSBAD, a munic
(Name of Property Owner)
\,
\ \ corporation of the State
California.
\
\
\ By: CLAUDE A LEWIS, Mayc
'\ 1 By: (sign here) /\
\/ \, (print name here)
\
(title and organization of signatory) '\
By:
(sign here)
(print name here)
(title and organization of signatory)
(Notarial acknowledgment of execution by PROPERTY OWNER mus attached.)
(President or vice-president and secretary or assistant secrc must sign for corporations. If only one officer signs, corporation must attach a resolution certified by the secreta] assistant secretary under corporate seal empowering that ofi to bind the corporation.)
APPROVED AS TO FORM:
RONALD R. BALL
City Attorney
BY Deputy City Attorney
\$
pet.waivfafd/rev. 9/15/93
9
EXHIl .. * 0
RATE AND METHOD FOR DETERMINING
FAIR SHARE OBLIGATION
RANCHO SANTA FE AND OLIVENHAIN ROAD
_.
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The City Council shall use the following rate and method
determining the fair share obligation for funding the construc
of Rancho Santa Fe and Olivenhain Road due from pro]
This calculation is done as part of an agreement titled PETI'.
WAIVER AND CONSENT TO CREATION OF A COMMUNITY FACILITIES DIS:
AND AGREEMENT TO PAY FAIR SHARE (Agreement) which has voluntarily entered into by the City of Carlsbad and cei property owners wishing to proceed with the development of 1
property in advance of the creation of Community Facil:
District No. 2 (CFD No. 2). It is the City and property 01
intent to form CFD No. 2 to provide funding for those improve]
described within the above referenced agreement.
The following rate and method shall be used to determine the share and amount due from any property owner wishing to advantage of this alternate funding mechanism.
Basis for Cost Allocation
The basis for allocation of costs to property conditioned wit financing of the improvements described in the Agreement sha the Equivalent Dwelling Unit (EDU) which is defined as follow residential developments:
conditioned to participate in the financing of these facilil
Residential EDU Allocation
Single Family - Detached Units 1.0 EDU
Single Family - Attached Units 0.8 EDU
Multi Family Units 0.6 EDU
The number of each type of unit included in a development sha
determined by the City Engineer based on the most recent fina
available for the project in question.
The EDU determination for non-residential development sha:
made by the City Engineer when such a determination is requ
by the property owner, The City Engineer may request addit
information from any property owner as may be necessary to his determination. The City Engineer is not required to m determination on the number of EDUs for any project until ade information is available.
The City Engineer's determination shall be submitted to the Council in the staff report accompanying the Agreement. The Council shall make the final determination of the number of to be used in computing the fair share obligation for any pro
pet.waiv/afd/rev. 9/6/93
a: 0 e Fair Share Amount and Method of Payment
The City shall collect $13,290 for each EDU as determined b
payments, $10,250 per EDU to be paid prior to final map appr
and $3,040 per EDU at the time a building permit is issued.
manner of payment is more fully described below.
The property owner shall pay their fair share to the Cil Carlsbad in the following manner:
1) Prior to the approval of a final map by the City Council property owner shall pay to the City an amount equal t number of EDUs included in said final map, as determin
the City Engineer, times $10,250. If the City Co
determines that the City Engineer's calculation of the n
of EDUs included on the final map is in error, the Co
shall direct the City Engineer to amend his calculation
direct staff to bring the final map back for approval
such correction has been made.
2) Prior to the issuance of a building permit by the CiQ property owners shall pay to the City an amount equal t number of EDUs included on such building permit determined by the City Engineer, times $3,040.
a) If the property owner has already obtained a final ma units conditioned with the financing of Rancho Santa FI
Olivenhain Road, the property owner shall pay to the Cit
amount equal to $10,250 times the number of EDUs includ
such final map as determined by the City Council pric
entering into this agreement
b) Prior to the issuance of a building permit by the Cit property owners shall pay to the City an amount equal t number of EDUs included on such building permit determined by the City Engineer, times $3,040.
4) The City Engineer shall prepare a report detailing calculation of the number of EDUs associated with
agreement. Said report shall be made available to the Council and property owner for review.
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a City Council. This amount shall be collected in two sep
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pet.waiv/a€d/rev. 9/6/93
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September 13, 1993 3
TO: CITY MANAGER
FROM: Financial Management Director- ' .
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RE: RANCHO SANTA FE ROAD PREPAmENT AGREEMENT -
CALIFORNIA PACIFIC HOMES
Late Friday afternoon I received a call from Dale Gleed, the California Pacific FA
Santa Fe Road prepayment agreement. It appears that even though we have held st
meetings with Mr. Gleed, some including his legal counsel, to work out accer
language, California Pacific Homes will be unable to sign the agreement in its present
Mr Gleed has asked that we pull this item from the Council agenda bring it back aft
has been able to provide us with additional comments.
Staff recommends that the Council grant Mr Gleed's request to have the item pulk
California Pacific Homes cannot enter into the agreement as currently drafted, there
reason for the Council to invest debate over the form of the document. Staff suggest
the item be brought back on the agenda of September 21 or 28, depending on the i
of the City and California Pacific Homes to come to an agreement on any revision
may be necessary.
This short delay does not affect the San Dieguito Union High School District calend
construction of their school site. Their schedule has been delayed slightly by the nt
deal with gnatcatcher issues on a portion of their property. Approval of a prepa:
agreement in late September or early October will be sufficient to meet the School's I
representative, regarding some problems his legal counsel had with the proposed R;
JAMES F. ELLIOIT
c: City Attorney
City Clerk
Community Development Director
Deputy City Attorney
City Engineer
Finance Director