HomeMy WebLinkAbout1997-01-21; City Council; 14004; Rancho Santa Fe Road Financing ProgramCIT” OF CARLSBAD - AGENP-Q BILL 79
1 AB # JY; GO y TITLE: RANCH0 SANTA FE ROAD FINANCING PROGRAM DEPT. HD. /
MTG. 01/21/97 AMENDED CFD #2 PREPAYMENT AGREEMENT
CENTEX HOMES CITY ATTi
ADEPT. a ?i!$ CITY MGR.
RECOMMENDED ACTION:
Adopt Resolution No. 9 ‘? e g 3 authorizing the Mayor to sign the amended CFD#2 prepayment
agreement with Centex Homes for CT 90-4 , CT 85-10, and CT 89-18.
ITEM EXPLANATION
Since 1986 the staff has been working in earnest with the property owners in the Ranch0 Santa
Fe Road area to find a way to finance the improvements necessary to meet the conditions of the
various tentative maps and Local Facilities Management Plans in southeast Carlsbad. The
preferred financing plan has consistently been the formation of Community Facilities District
(CFD) #2, a financing district that would assess taxes against the developers in the area, and
have the power to issue bonds in the event that the road needed to be constructed prior to the
receipt of sufficient funds by the City. The formation of CFD#2 stalled due to the inability of
Fieldstone, the primary property owner in the area to support the financing plan.
In September of 1993 the staff proposed that the City Council accept the prepayment of CFD#2
taxes from certain smaller property developers who’s developments would not significantly
impact the amount of traffic on Ranch0 Santa Fe Road. Council has since approved five of
these agreements - one with California Pacific Homes, three with Centex Homes, and one with
Parkview WestKreystone Homes. Under these agreements the developer pays $10,250 per
unit to the City at the time the final map is approved by the City Council. The developer also
pays an additional $3,040 to the City each time a building permit is pulled. The purpose of the
additional $3,040 payment was to assure that the City would have sufbcient flmds to construct
the road should CFD#2 not be formed in time to finance improvements to Ranch0 Santa Fe
Road should they be needed.
In December 1996 the City Council approved a complete financing plan for Ranch0 Santa Fe
Road which included an agreement with Bank of America/Villages of La Costa (VLC). This
agreement required VLC to pay $10,250 per unit at the time any final map is approved in
Ranch0 Santa Fe Road area, and that VLC post a bond with the City that provides funds in the
event that road improvements are required in advance of the receipt of funds from CFD#2 or
cash payments under prepayment agreements.
As part of the agreement with VLC, the City expressed its desire to place all developers in the
Ranch0 Santa Fe Road area on the same fiscal footing. This requires the amendment of the five
existing prepayment agreements to do the following:
1) Eliminate the requirement that an additional payment of $3,040 be paid at the time of
building permit, that the City
2) Refund amounts received from the payment of this additional $3,040 from prior developers
3) Provide a system to ret?.md excess revenues received under the financing program, if any,
upon completion of the road improvements
4) Eliminate the conditions in the existing agreement that require the developer to remain
subject to future assessments should the cost of the road improvements exceed the funds
received from the financing program
Page Two of Agenda Bill No. pi, OOY
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These provisions may be eliminated because VLC has provided both cash with the approval of
the final map for Arroyo La Costa phases I and II, and a bond covering any shortfall that might
be experienced should the road need to be build in the very near future.
In addition, the staff has made an effort to make the other terms and conditions revised
agreement as similar to the VLC agreement as possible, This will help avoid confusion in the
administration of the financing program in future years.
Staff is recommending that the City Council authorize the Mayor to execute the attached
agreements with Centex Homes to accomplish the revisions as outlined above. In addition, this
form of agreement, without changes Tom any of its terms and conditions, will be offered to
California Pacific Homes and Greystone. If these companies are interested in entering into the
revised agreement staffwill bring these back to Council for approval.
FISCAL IMPACT
Since 1993 the City has received a total of $991,040 from CFD#2 prepayment fees from all
developers. Of this amount $626,240 has been received from the payment of the $3,040 fees at
building permit. The table below summarizes these revenues. The agreement attached to this
agenda bill will authorize the refund of $626,240 to Centex Homes. The refund of these
amounts will not affect the City’s ability to finance Ranch0 Santa Fe Road as currently
designed. If the remaining developers request similar agreements the City will refund the
remaining $364,800 at that time.
Prepayment Agreements - Ranch0 Santa Fe Road - CFD #2
Payments Made at Building Permit
Agreement Date
09/14/93
03/01/94
08/08/95
08/08/95
03/19/96
Total Payment
Received
Project Units Paid Amount
California Pacific 102 3 10,080
Homes (CT 85-9)
Centex - Tierra Santa 111 337,440
(CT 90-4)
Centex - Santa Fe 69 209,760
Trails (CT 85-10)
Centex - Ranch0 26 79,040
Verde (CT 89-18)
Greystone Homes - 18 54,720
Park View West (CT
85-15)
326 991,040
EXHIBITS
1. Resolution No. %‘- 23 with Petition, Waiver and Consent to Creation of a Community
Facilities District and Agreement to Pay Fair Share attached.
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RESOLUTION NO. 97-23 -
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA
AUTHORIZING THE MAYOR TO EXECUTE A AMENDED AGREEMENT WITH CENTEX
HOMES PROVIDING FOR THE PREPAYMENT OF CFD#2 TAXES FOR CT 90-4. CT 85-10
and CT 89-18,
Whereas, the City Council has approved a financing program for Ranch0
Santa Fe Road which includes the intended formation of a Community Facilities
District (CFD#2), and
Whereas, the City Council has previously approved agreements with
Centex Homes allowing for the prepayment of taxes to be assessed under CFD#2
as an acceptable form of interim financing for Ranch0 Santa Fe Road as required
by various tentative map conditions for CT 90-4, CT 85-10, and CT 89-18, and
Whereas, the approval of the amended agreement will not affect the City’s
ability to finance the needed improvements on Ranch0 Santa Fe Road.
NOW, THEREFORE BE IT RESOLVED by the City Council of the City of
Carlsbad, California as follows:
1. That the above recitations are true and correct.
2. That the form of the revised PETITION, WAIVER AND CONSENT TO
CREATION OF A COMMUNITY FACILITIES DISTRI.CT AND AGREEMENT TO PAY
FAIR SHARE, Attachment 1 attached here to, is hereby approved.
3. That the Mayor is hereby authorized to enter into the attached agreement,
Exhibit A l
4. The City Clerk is authorized and directed to record the attached agreement
with the San Diego County Recorder’s office upon execution.
PASSED, APPROVED AND ADOPTED at a regular meeting of the City Council on
the & day of January , 1997 by the following vote, to wit;
AYES: Council Members Lewis, Finnila
NOES: None
ABSENT: None
CLAUDE A. LEWIS, Mayor
ATTEST:
ALETHA L. RAUTE ww
3
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BECOBDING REQUESTED BY AND
WHEN RECORDED MAIL TO:
city Clerk
CITY OF CARLSBAD
1200 Carlrbrd Village Drive
Carlrbd, CA 92008
Space Above This Line for Recorder’s Use
PETITION, WAIVER AND CONSENT TO CREATION OF A
COMMUNITY FACILITIES DISTRICT
AND AGREEMENT TO PAY FAIR SHARE
WHEREAS, the undersigned Property Owner is processing, or has processed, for
development with the City of Carlsbad (hereinafter referred to as “City’) a development project
known and identified as Tentative Tract Map(s) CT 90-4 , CT 85-10, and CT 89-18,
(hereinafter referred to as the “Project”); and, CT 89-18.
WHEREAS, the legal deycription for the Project is shown on Exhibit “B” attached
hereto; and,
WHEREAS, City has determined this Project is located within the boundaries of a
proposed Community Facilities District known as Community Facilities District No. 2 - Ranch0
Santa Fe and Olivenhain Road (hereinafter referred to as “District”); and,
WHEREAS, District is intended to be formed to finance those improvements generally
described in Section 1 herein and in the amount set forth in the Improvements Budget attached
hereto marked Exhibit “c”; and,
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WHEREAS, Property Owner desires to proceed with processing prior to the formation
of District; and,
WHEREAS, various conditions of the Tentative Tract Maps for the Project require that
the Property Owner provide for or participate in the construction of certain public
improvements including sections of Ranch0 Santa Fe Road; and,
WHEREAS, the compliance with tentative map conditions is a condition of approval for
the final map for the Project; and,
WHEREAS, the City and Property Owner desire to agree to an alternative method of
financing the improvements described in Section 1 herein that will allow Property Owner to
discharge its fair share and obligation for said improvements in lieu of, or in anticipation of,
participation in District; and,
WHEREAS, the City Council agrees that Property owner, upon entering into this
agreement and upon payment of the fair share described herein, has met the requirement set
forth in the tentative map conditions requiring the Project to provide a financial guarantee for
the construction of those improvements described in Section 1 below; and,
WHEREAS the City and Property Owners have previously entered into similar
agreement providing for prepayment for said Improvements by which Property Owner has over
-paid its obligation, and the parties wish to supersede those agreements with this agreement
providing for a special refund; and,
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WHEREAS, Property Owner voluntarily enters into this agreement with respect to the
Project; and,
WHEREAS, the City Council has determined that due to the size of the proposed
development, there will be no major impact on the circulation system at the present time if
development of the Project is allowed to proceed with sufficient financial guarantees for future
construction of Property Owner’s fair share of the circulation improvements;
NOW, THEREFORE, in consideration of proceeding with the processing of Project,
the undersigned Property Owner and City hereby agree and certify to the following:
1. Property Owner hereby petitions the City for the initiation of the proceedings for
the formation of District which will cause the construction and installation and/or financing of
the following improvements (hereinafter “Improvements” which are generally described as
follows:
4 Ranch0 Santa Fe Road North Phase 1 (RSF No. 1) La Costa Avenue to
east of Mahr Reservoir
b) Olivenhain Road Widening, and intersection improvements at Olivenhain
and El Camino Real
4 Ranch0 Santa Fe Road North Phase 2 (RSF No.2) Phase 1 End to
Melrose Drive.
4 Ranch0 Santa Fe Road South (RSF So.) (Assumes Secondary Arterial
Standard - Encinitas City Boundary to Olive&in Road Full Improvements.
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2. The cosr of construction, engineering, environmt,.Lal mitigation’s legal and other
incidental expenses as set forth in the “Improvements Budget” will be finded by the District.
3. Property Owner acknowledges its right to notice of and participation in all
phases of formation under the “Mello-Roos Community Facilities Act of 1982,” - expressly
waives the proceedings required and all limitations contained in Title 5, Division 2, Chapter 2.5
of the California Government Code and nonetheless with full knowledge of such rights,
completely and forever waives such rights. Specifically, Property Owner hereby consents to the
proceedings and waives any right to protest the formation of the District and the ordering of the
improvements under applicable California statutes and consents to and supports formation of
said District with respect to the Project. The City shall exclude the Project from the District
boundary map if, prior to the adoption of a Resolution of Intention by the City Council to form
said District, Property Owner has entered into this agreement and has paid to the city all
amounts due as described herein.
4. a) Property Okner agrees to pay to City, or provide, its fair share for the
Improvements described in Section 1.
m
b) Said payment, or provision, shall be made in the manner described in
Exhibit “A”, Rate and Method for Determining Fair Share Obligation Ranch0 Santa Fe and
Olivenhain road, which is incorporated herein by reference.
4 The amount of Property Owner’s fair share will be conclusively
determined by the City Council in the manner described Exhibit “A” attached hereto.
4
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1 +nent by Property Owner of its fair ,-are of Improvement costs as
determined by City Council and set forth herein will satisfy its obligations for the construction of
the Improvements described in Section 1, as required by the Tentative Map(s) for the Project as
that condition applies to the Project, subject to adjustment as described in Section 10 herein.
4 Alternatively, if the District is formed and Project is included within it,
Property Owner’s obligations to pay its fair share pursuant to this agreement shall be satisfied
upon payment of all taxes imposed, established and payable to said District.
5. Property Owner acknowledges that this agreement to pay its fair share and
participate in the financing of improvements is voluntary and that without this agreement
Property Owner would be precluded from obtaining final map approvals or building and other
development permits under the provisions of the General Plan, Chapter 21.90 of the Carlsbad
Municipal Code, applicable zone plan, financing plans and related documents permits under the
provisions of the General Plan Chapter 21.90 of the Carlsbad Municipal Code, applicable zone
plan, financing plans and related ‘documents until a satisfactory financing program has been
developed to fund the construction of the Improvements described in Section 1.
6. Property owner hereby waives his right to challenge the amount, establishment
or imposition of said fair share and fiu-ther waives any rights to pay said fair share under protest.
7. This agreement does not affect, in any way whatsoever, the obligation of
Property Owner to pay any other fees or assessments associated with Property Owner’s
development and/or to post improvement bonds as required by the City Engineer. Nor does this
agreement relive Propel Ly owner from providing other public fac.,lties required under conditions
placed upon the Project by the applicable tentative map conditions.
8. Property Owner agrees that payment of its fair share is not a fee and waives any
and all rights to notice of or challenges to the establishment or imposition of said fair share as a
fee under provisions of Government Code section 66000 et seq., or any successor or related
statutes.
W The City and Property Owner hereby agree that this agreement supersedes any
prior written agreement between the City and Property Owner concerning Property Owner’s
fair share obligation for the Project covered by this Agreement (a “Prior Agreement”), if any.
b) The City acknowledges that, prior to December 10, 1996, the undersigned
Property Owner had paid to the city excess fair share payments totaling $626,240 (206 single-
family units times $3,040 per unit) (the “Excess Fair Share Payments”) pursuant to the
following Prior Agreements between the City and Property Owner covering the Projects
developed by Property Owner in Carlsbad:
1. Petition, Waiver and Consent to Creation of a Community Facilities
District and Agreement to Pay Fair Share dated February 22, 1994 (covering Tentative
Tract Map CT 90-4);
2. Petition, waiver and Consent to Creation of a Community Facilities
District and Agreement to Pay Fair Share (CT 85-10 Rice Property) dated August 11,
1995; and
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3. fetition, Waiver and Consent to Creauon of a Community Facilities
District and Agreement to Pay Fair Share (CT 89-18 Ranch0 Verde) dated August 11,
1995.
c) The City hereby agrees that the Excess Fair Share Payments will be applied as
credits to the fair share payments due to City by Property Owner pursuant to this Agreement,
up to a maximum of Ten Thousand Two Hundred Fifty Dollars ($10,250) per single-family unit,
until a total of Six Hundred Twenty-Six Thousand Two Hundred Forty Dollars ($626,240) has
been applied as credits to the fair share payments due pursuant to this Agreement.
d) Upon Property Owner’s written request to the City, in lieu of the credit
arrangement described above, City will refund to Property Owner, by cash or check, the total
amount of Excess Fair Share Payments not yet applied as credits/pursuant to the preceding
paragraph. Property Owner may request such refund at any time.
d If Property Owner posted a letter of credit to secure fees due from Property
Owner to the City pursuant to a Prior Agreement(s), the City agrees that Property Owner may
reduce the amount of such letter of credit so that the balance of such letter of credit equals the
total fees due pursuant to this agreement.
10) a) If the District is formed subsequent to the payment by Property Owner of
the fair share pursuant to this agreement, Property Owner’s financial obligation shall be
recalculated using the taxing formula established for the District for the Improvements described
in Paragraph 1. If that obligation is lower than the amount previously paid or provided by
Property Owner to City, City shall refund any excess, in the manner described below.
b) Any rt,,nd shall be made from funds availab,, within District upon District
formation and shall not be an obligation of city’s General Fund or other revenue sources.
4 In the event that insufficient funds are available from District’s resources,
Property Owner shall be reimbursed in the order in which funds were deposited with City as
soon as sufficient funds become available, as determined by the City Council, through the
payment of one-time taxes or annual undeveloped land taxes to the District. The city is not
required to establish an undeveloped land tax within the District to provide such refund.
4 No reimbursement is required until the City Council determines that sufficient
funds are available. Any refund to Property Owner shall not include interest.
e) Any payment received by the City under this agreement shall be deposited in a
special interest bearing fund and may only be used to fund the construction of the facilities
described herein. Upon the formation of a CFD to fund these same Improvements, any amount
remaining in the special fund may be transferred to the CFD fund, at the discretion of the
Finance Director.
11. Upon completion of the Improvements, and recording of the notice of
completion for the final phase of the Improvements, the City Engineer shall determine the total
cost of all phases of the Improvements and all related work (Costs), and the Finance Director
shall determine the total amount of revenue including fees, taxes, interest earned on funds
restricted to use only on the Improvements, and other sources of funds received by the City
dedicated to paying for the construction of the Improvements (Revenues). The Finance
Director shall then compare the amount of Costs and Revenues to determine if there are any
I_ . excess Revenues as clescribed below.’ If excess Revenues 01 more than $100,000 exist, the
Finance Director shall provide refunds to all eligible parties of all excess Revenues in an amount
and in the manner described below. If excess Revenues are equal to, or less than $100,000 the
City shall retain these funds in a special fund to be used to finance street repair, maintenance,
and landscaping within the Improvements.
4 The total amount of excess Revenues shall be determined by deducting the
amount of the project Costs from the available Revenues. Total project Costs shall include all
costs to plan design construct, mitigate environmental impacts, inspect, and otherwise
complete the project to the satisfaction of the City Engineer, including applicable charges for
City staff services. Total Revenues shall include all monies held by the City dedicated
exclusively to the construction of the Improvements including any fee revenues earmarked for
the Project, CFD #2 taxes, applicable CFD #l taxes, grants, and interest earned on restricted
funds as determined by the Finance Director.
W The amount of the refund due to any party shall be based on the proportion of
that party’s payments under this agreement based on its’ proportional share of Equivalent
Dwelling Units constructed or to be-constructed by that party, weighted as described in Exhibit
A, divided by the total number of EDUs constructed or to be constructed within, and
participating in, CFD #2 and/or this agreement. The amount of the refund shall be determined
by multiplying the proportional share computed above by the total amount of excess revenues.
C) In order to share in the refund of any portion of the excess Revenues, the eligible
party must request to be included in the distribution of funds. Such request must be made
within 90 days after the City Council’s acceptance of the Notice of Completion for the final
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* phase of the Improvements. Each request must be accompanieu oy documents indicating clear
title to the refund unless the request is being made by the party which originally paid the City
pursuant to this agreement or paid taxes to CFD #2
4 The Finance Director shall compute the amount of the refund due each party as
described above. Funds may be disbursed to the eligible parties following Council approval of
such refunds.
e) If the City does not receive requests for refund from all eligible parties within the
specified period, and all funds cannot be disbursed as provided by this section, any remaining
funds shall be held in a special fund to be used to support road and roadway maintenance in and
around the Improvements area, as determined to be necessary by the City Engineer, and
approved by the City Council.
t) As a courtesy to all interested parties, the City will maintain a file of those
individuals or companies entitled to a refund, and will mail notices of refund availability to the
names and addresses in this file following the City Council’s acceptance of the final Notice of
Completion. It is the eligible party’s responsibility to notify the City if the rights to any refunds
under this section are assigned to another p arty, or if there is a change in name or address for
the eligible party. The City takes no responsibility for the accuracy of the information included
in this file, and is under no obligation to locate persons or entities who are entitled to refunds.
Failure to notify any party of the availability of excess Revenues shall not obligate the City in
any way to extend or modi@ the above refund procedures.
12. Comph~.ce with this agreement will be acceptel oy City as an alternate to the
method described in the current Local Facilities Management Plans for local facilities
Management Zones 6,ll and 12 for financing the Improvements described in Paragraph 1. This
agreement does not require City to issue building permits or other development permits or grant
approvals or relieve Property Owner of the obligation to comply with all applicable provisions
of law, including but not limited to Carlsbad Municipal Code Titles 18, 19, 20 and 2 1.
13. Compliance with the provisions of this agreement is a condition of all Wure
discretionary approval for the Improvements. If Property Owner does not comply with the
provisions of this agreement, approval of the Project will not be consistent with the General
Plan the Growth Management Program, and the Local Facilities Management Plan, and all
subsequent discretionary approvals and permits for the Project may be withheld by City.
14. In addition, the City will not approve any pending final maps, issue grading,
building or other development permits or take any discretionary action until the Property Owner
has complied with the terms of this agreement due to be satisfied at the time such approval is
required.
15. The City may, at its discretion, elect to pursue any remedy, legal or equitable
against Property Owner and Property Owner’s successors, heirs, assigns, and transferees of the
Project to secure compliance with this agreement.
16. City shall not, nor shall any officer or employee of City, be liable or responsible
for any loss or damage incurred by Property Owner or any successor or assign of Property
Owner, or by any occupant in Property Owners buildings, as a result of the exercise of any
I remedies provided to t1r.y in this agreement. Property Owner agrees to indemnify City for any
liabilities incurred by City as a result of City’s exercise of these remedies.
17. This agreement and the covenants contained herein shall be binding upon and
inure to the benefit of the successors, heirs, assigns, and transferees of Property owner with
respect to the Project only and City, and shall run with the Project and create an equitable
servitude upon the Project.
18. All notices provided for under this agreement shall be in writing and shall be
delivered in person or served by certified mail postage prepaid. Delivery of notice to Property
shall be presumed to have been made on the date of mailing regardless of receipt by Property
Owner. Notices required to be given to Property Owner shall be addressed as follows:
Notices to the City shall be delivered to the
Finance Director
’ City of Carlsbad
1200 Carlsbad Village Drive
Carlsbad, CA 92008
Notices to Property Owner shall be delivered to:
Ron Brent
CENTEX HOMES
5962 La Place Court, Suite 250
Carlsbad CA 92008
Each party shall notify the other immediately of any change that would require any
notice delivered hereunder to be directed to another party.
19. This &cement shall be recorded but shall not crtdte a lien or security interest in
the properly.
20. The undersigned Property Owner further states, under penalty of pejury, that he
is owner of the property as described herein on Exhibit “B”, or an authorized agent of the
owner, and has the authority to execute this document, including the binding authorization
herein.
Executed this 22 day of January , 1997.
*OWNER:
Centex Homes. a Nevada General
Partnershin
By: Centex Real Estate Cornoration
i~~~*~
Ron Brent
(print name here)
Division Vice President
(title signatory) ,
ATTEST,
Aletha L. Rautenkranz,
City Clerk
Apmd as to form: /k G;r*Tb,Le
RonaldR.Ball 1. tz-5 3
City Attorney ’
(Proper notarial acknowledgment of execution by *OWNER must be attached.) President or
vice-president and secretary or assistant secretary must sign for corporations. If only one
officer signs, the corporation must attach a resolution certified by the secretary or assistant
secretary under corporate seal empowering that officer to bind the corporation.
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CkIFOFtNIA ALL-PURPO, 4 ACKNOWLEDGMENT No. 5907
personally appeared , NAME(S) OF SIGNER(S) . I
0 personally known to me - OR - ,R proved to me on the basis of satisfactory evidence
to be the person(s) whose name(s)($?ar&-
subscribed to the withi instrument and ac-
knowledged to me tha
CJ
ci?l h -‘sheAhey executed
the same in hi&e+#b& authorized
capacity(ies), and that bail
signature(s) on the instrument the person(s),
or the entity upon behalf of which the
person(s) acted, executed the instrument.
WITNESS my hand and official seal.
OPTIONAL
Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent
fraudulent reattachment of this form.
CAPACITYCLAIMED BYSIGNER DESCRIPTIDNOFATTACHEDDOCUMENT
0 INDIVIDUAL q CORPORATE OFFICER
Petition, Waiver and Consent to
Creation of a Community Facilities
TITLE(S)
av Fw
TITLE OR TYPE OF DOCUMENT Share
El PARTNER(S) cl LIMITED
0 GENERAL
0 ATTORNEY-IN-FACT
0 TRUSTEE(S)
0 GUARDIAN/CONSERVATOR
0 OTHER:
Thirteen (13)
NUMBER OF PAGES
January 22, 1997
DATE OF DOCUMENT
SIGNER IS REPRESENTING:
NAME OF PERSON(S) OR ENTITY(IES)
SIGNER(S) OTHER THAN NAMED ABOVE
01993 NATIONAL NOTARY ASSOCIATION. 8236 Remmel Ave. P 0 Box 7184 l Canoga Park. CA 91309-7184
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EXHIBIT A
RATE AND METHOD FOR DETERMINING
FAIR SHARE OBLIGATION
RANCH0 SANTA FE AND OLIVENHAIN ROAD
The City Council shall use the following rate and method for determining the fair share
obligation for funding the construction of Ranch0 Santa Fe and Olivenhain Road due from
property conditioned to participate in the financing of these facilities. This calculation is done as
part of an agreement titled PETITION, WAIVER AND CONSENT TO CREATION OF A
COMMUNITY FACILITIES DISTRICT AND AGREEMENT TO PAY FAIR SHARE
(Agreement) which has been voluntarily entered into by the City of Carlsbad and certain
property owners wishing to proceed with development of their property in advance of the
creation of Community Facilities District No. 2 (CFD No. 2). It is the City and property owners
intent to form CFD No. 2 to provide funding for those improvements described within the
above-referenced agreement.
The following rate and method shall be used to determine the fair share and amount due from
any property owner wishing to take advantage of this alternate funding mechanism.
Basis for Cost Allocation
The basis for allocation of costs to property conditioned with the financing of the improvements
described in the Agreement shall be the Equivalent Dwelling Unit (EDU) which is defined as
follows for residential developments:
Residential EDU Allocation
Single Family - Detached Units I .O EDU
Single Family - Attached Units 0.8 EDU
Multi-Family Units 0.6 EDU
Second Dwelling Units 0.0 EDU
, The number of each type of unit included in a development fall be determined by the City
Engineer based on the most recent final map submitted to the City for approval.
The EDU determination for non-residential development shall be made by the City Engineer
when such a determination is requested by the property owner. The City Engineer may request
additional information from any property owner as may be necessary to make his determination.
The City Engineer is not required to make a determination on the number of EDUs for any
project until adequate information is available.
The City Engineer’s determination shall be submitted to the City Council in the table below.
The City Council shall make the final determination of the number of EDUs to be used in
computing the fair share obligation for any project.
Fair Share Amount and Method of Payment
The City shall collect $10,250 for each EDU as determined by the City Council. This amount
shall be collected in one payment of $10,250. If the City Council determines the City Engineer’s
calculation of the number of EDUs included on the final map is in error, the Council shall direct
the City Engineer to amend his calculations and direct staff to bring the final map back for
approval when such correction has taken place. Funds must be paid to the City before the final
map will be scheduled for Council consideration.
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Computation of Fair Share Obligation
Centex Homes - CT 904, CT 85-10, CT 8918
Amount Paid Under Fbmaining Balance
Agmemds lme
Units 1 Amount units 1 Amaart
CT 90-4 Single Family 1.0 111 10,250 1.137,750 111 1,137,750 0 0
1 CT 85-l 0 ISingle Family 1.0 189 10,250 1,937,2501 97 994,250) 92 943,000) I CT 8918 I Total Single Family 1.0 474 174 10,250 4,858,500 1,783,500 241 33 2,470,250 338,250 233 141 2,388,250 1,445,250
2) If the property owner has already obtained a final map for units conditioned with the
financing of Ranch0 Santa Fe and Olivenhain Road, the property owner shall pay to the City the
net amount due shown above prior to entering into this agreement.
‘
JWRIBIT "B"
LEGAL DESCRIPTION
TIERRASANTAF'E(CT!M-4)
~sonata)
Lots 1 through 20, inclusive, of Map No. 13116 recorded on June 28, 1994, as shown on TSF CT
904-l) File No. 19940409165 of the Off$ial Records of San Diego County, California and Lots
21 through 100, inclusive of Map No. 13144 recorded onSeptember 16.1994, as shown on TSF
CT 90-4-2, File No. 1994-0554780 of the Offkial Records of San Diego County, California.
Lots 101 through 111, inclusive of Map No. 13144 recorded on September 16, 1994, as shown
on TSF CT 90-4-2, File No. 1994-0554780 of the Offkial Records of San Diego County,
California.
EXHIBIT “B”
LEGAL DESCRIPTJON
CT 85-10
RICE PROPERTY
THE EASTERLY HALF OF LOT 14 AND A PORTION OF THE -
WESTERLY HALF OF LOT 14. AND THE SOUTH 60 FEET OF
THE WEST HALF OF LOT 14 OF RANCH0 LAS ENCINITAS
IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO,
STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF
NO 848, FILED IN THE OFFICE OF THE COUNTY RECORDER
OF SAN DIEGO COUNTY, JUNE 27, 1898.
‘
rice pmpeny 7125195
-w EXHIBIT ‘B”
LEGAL DESCRIPTION
CT 89-18
RANCH0 VERDE
PORTIONS OF LOTS 8,9, AND 15 OF THE SUBDIVISION OF -
RANCH0 LAS ENCINITAS IN THE CITY OF CARLSBAD,
COUNTY OF SAN DIEGO, STATE OF CALIFORNIA,
ACCORDING TO MAP THEREOF NO. 848, FILED IN THE
OFFICE OF THE COUNTY RECORDER OF SAN DIEGO
COUNTY, JUNE 27, 1898.
nncho vcrdc 7/25/93
25Aug-93 . _ C. F. n NO. 2 - PRELIMINARY COST ESTIMTE SUMMARY PAGE NO. 1
EXHIBIT "C"
CITY OF CARLS8AD COMMUNITY FAClLlTlES DISTRICT NO. 2
STAGE COST SUMMARY
STAGE 1: OLIVENHAIN ROAD
AREA A, (@ EL CAMINO REAL) $2,503,000
AREA 8, (@ RANCH0 SANTA FE RD.) $912,000
DETENTION BASIN ‘D’ $871 ,ooo --------- ------w-w
TOTAL STAGE 1 $4,286,000
STAGES 2: RANCH0 SANTA FE ROAD, PHASE I $15,032,000
STAGES 3: RANCH0 SANTA FE ROAD, PHASE II $14,230,000
STAGE 4: RANCH0 SANTA FE ROAD SOUTH
FILE: SUMMARY.WQl PREPARED BY: HELMING ENGINEERING, INC.
CFD NO. 2 TOTAL
$3,109,000
--------- ---------
$36,657,000
January 27, 1997
Gregory J. Smith
San Diego County Recorder
Post Office Box 1750
San Diego, CA 92112-4147
Enclosed for recordation is the following described document:
Petition, Waiver and Consent to Creation of a Community
Facilities District and Agreement to Pay Fair Share
Also enclosed are instruct?ons on how the City is to be billed
for the recordation fees incurred.
Thank you for your assistance in this matter.
zg<&cMc Clerk
Enclosures
1200 Carlsbad Village Drive - Carlsbad, California 92008-1989 - (619) 434-2808