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Home My WebLink About1997-06-24; City Council; 14223; ESTABLISH 1997-98 ANNUAL TAX FOR COMMUNITY FACILITIES DISTRICT NO. 1.. 2 0 F 0 a J i3 z 2 0 0 v CITY OF CARLSBAD -AGENDA BILL k v AB# /w- TITLE: DEPT HD. CITY ATTY. MTG. 6/24/97 DEPT. FIN CITY MGR. ESTABLISH 1997-98 ANNUAL TAX FOR COMMUNITY FACILITIES DISTRICT NO. 1 Adopt Resolution No. 9?-49? Facilities District No. 1. ITEM EXPLANATION: In 1982, the State Legislature responded to the need for a high quality method of public improvements by approving the Mello-Roos Community Facilities Act of 1982. allows voters to approve a special tax to be levied upon their property to fund the cor or acquisition of facilities or services. A Community Facilities District (CFD) is not intended to relieve any property own( responsibility to provide funding for infrastructure improvements related to developr homeowners in Carlsbad are affected by a City CFD because under the City’s guide1 and all tax obligations on residential units must be paid in full when the building issued. When a building permit is issued for non-residential development, propert must choose whether to pay the CFD tax in full or pay pass-through taxes for t\n establishing the 1997-98 annual tax for the Co years. The City of Carlsbad and property owners of specific vacant land in Carlsbad worked to form a CFD to provide funding for a variety of infra- structure projects needed growth management requirements. Vacant land and a small percentage of develo residential land located in sixteen Local Facilities Management Zones are curreni CFD, with other zones annexing as development plans progress. Following Mello-Roos legislation, Council held a public hearing and an election an Community Facilities District (CFD) No. 1 on May 7, 1991. Through debt fin: available cash balances, CFD No. 1 will fund the following capital projects: Civic Facilities 1-5 lnterchanqes Road Seqments Library Palomar Airport Road La Costa Avenue Warehouse Facility La Costa Avenue Olivenhain Road City Hall Poinsettia Lane Cannon Road Veteran’s Memorial Park Faraday Avenue Leucadia Boulevard In June 1991, Council adopted an ordinance putting in place the tax formula for tt establishing the maximum tax rates that may be levied in CFD No. 1. The maximum t: property within the CFD is adjusted each year by one-half of the annual change ir Angeles inflationary factor in the “Engineering News Record” (ENR) Cost Indexes in 2 The maximum tax rate for property not yet included within CFD No. 1 is adjusted by thc percentage change until the fiscal year of annexation. Although the ordinance esta ceiling for future tax rates, it did not create the individual tax levy that will be placed parcel. Each year the City establishes the levy as the funding needs for the next fisca known. 0 0 PAGE TWO OF AGENDA BILL NO. I qi &k3 Staff recommendations for the 1997-98 tax levy are presented in Exhibit A of the Resolution. The Exhibit shows the tax rate schedule for property included within CFD formation as well as for property annexed thereafter. The proposed tax levy reflects an of one-half of the ENR inflator (0.6%) as described above. The tax on vacant property planned for future residential development will decrease fron the maximum tax to 70% of the maximum tax on each developable acre. The tax o property zoned for future commercial or industrial development is proposed to be increa 40% of the maximum tax to 50% of the maximum tax on each developable acre. B current estimates, the tax rate for future commercial or industrial development will ne raised to approximately 60% of the maximum tax in 1998-99. These rates were set low i the request of the property owners and were projected to increase over time. Certain non-residential property owners elected not to pay off their CFD obligation at building permits were issued. Instead, they chose to assume an annual special tax for dc property for twenty-five years. According to the CFD documents, the annual speck developed property shall not exceed 13.81% of the authorized one time payoff tax for COI and industrial property. This percentage rate was determined based on the average cos financing (1 1 %) plus administrative costs. The proposed 1997-98 tax rate for developed property is 9.48% of each property's I payoff tax. This rate is the same rate as last year. FISCAL IMPACT: The levying of taxes on parcels within CFD No. 1 will create the necessary cash flow tc the construction of the new library, the widening of La Costa Avenue, and other major road projects. Setting the CFD tax at the recommended rates will result in a tax levy of at million for the 1997-98 fiscal year. The current delinquency rate is approximately 3.25%, not considered significant. This should not have any significant fiscal impact delinquencies are factored into future revenue projections. The CFD will eventually recel delinquent taxes; it is just a matter of when the collection occurs. EXHIBIT: 1. Resolution No. 9 3- 4% establishing the 1997-98 annual tax for Community District No. 1. r 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 e 0 RESOLUTION NO. 97-499 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, ESTABLISHING ANNUAL TAX FOR A COMMUNITY FACILITIES DISTRICT WHEREAS, the CITY COUNCIL of the CITY OF CARLSBA CALIFORNIA, (hereinafter referred to as the "legislative body"), has initial proceedings, held a public hearing, conducted an election and received favorable vote from the qualified electors relating to the levy of a special tax ii community facilities district, all as authorized pursuant to the terms t provisions of the "Mello-Roos Community Facilities Act of 1982", being Chap 2.5, Part 1, Division 2, Title 5 of the Government Code of the State of Califorr This Community Facilities District shall hereinafter be referred to COMMUNITY FACILITIES DISTRICT NO. 1 (hereinafter referred to as "District"); and, WHEREAS, this legislative body, by Ordinance as authorized by Secl 53340 of the Government Code of the State of California, has authorized levy of a special tax to pay for costs and expenses related to said Commui Facilities District, and this legislative body is desirous to establish the spec rate of the special tax to be collected for the next fiscal year. NOW, THEREFORE, IT IS HEREBY RESOLVED AS FOLLOWS: SECTION 1. That the above recitals are all true and correct. SECTION 2. That the specific rate and amount of the special tax tc collected to pay for the costs and expenses for the next fiscal year (1 997-98 the referenced District is hereby determined and established as set forth in attached, referenced and incorporated Exhibit A. SECTION 3. That the rate as set forth above does not exceed amount as previously authorized by Ordinance of this legislative body, and is I 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 0 0 in excess of that as previously approved by the qualified electors of ' District. SECTION 4. That the proceeds of the special tax shall be used to p in whole or in part, the costs of the following, in the following order of priority Payment of principal of and interest on any outstand A. authorized bonded indebtedness; B. Necessary replenishment of bond reserve funds or ot reserve funds; C. Payment of costs and expenses of authorized pu' facilities and public services; D. Repayment of advances and loans, if appropriate. 1 proceeds of the special taxes shall be used as set forth above, and shall not used for any other purpose. SECTION 5. The special tax shall be collected in the same manner ordinary ad valorem property taxes are collected, and shall be subject to same penalties and same procedure and sale in cases of any delinquency for valorem taxes, and the Tax Collector is hereby authorized to deduct reasona administrative costs incurred in collecting any said special tax. SECTION 6. All monies above collected shall be paid into I Community Facilities District funds, including any bond fund and reserve fund. SECTION 7. The Finance Director is hereby directed to calculate installment of the special tax for each parcel within the District and provide a of those special taxes to the Auditor of the County. The Auditor of the Count) hereby directed to enter in the next County assessment roll on which taxes \ become due, opposite each lot or parcel of land affected in a space mark "public improvements, spedal tax" or by any other suitable designation, . installment of the special tax. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 27 22 23 24 25 26 27 28 0 e SECTION 8. The County Auditor shall then, at the close of the tax collection period, promptly render to this Agency a detailed report showing tt amount and/or amounts of such special tax installments, interest, penalties and percentages so collected and from what property collected, and also provide a statement of any percentages retained for the expense of making any such collection. PASSED, APPROVED AND ADOPTED by the City Council of the City Carlsbad at its regular meeting held on the 24th day of June , 19s by the following vote, to wit: AYES: Council Members Lewis, Finnila, Nygaard, Kulchin, a1 NOES: None ABSENT: No*e ATTEST: (SEAL) PROPERTY TYPE FISCAL YEAR 1996-97 FISCAL YEAR 1997-98 MAXIMUM TAX MAXIMUM TAX TAX RATES TAX RATES RESIDENTIAL RL $295 RM 1,358 RMH 2,082 RH 2,930 COMMERCIAL $2,518 INDUSTRIAL 1,259 RLM 81 0 NON-RESIDENTIAL (74% OF MAXIMUM) (70% OF $21 8 $297 1,005 1,366 1,540 2,094 2,168 2,948 $1,007 $2,533 504 1,267 599 81 5 (40% OF MAXIMUM) (50% 01 I RESIDENTIAL (74% OF MAXIMUM) RL $291 $21 5 $292 RLM 797 590 802 RM 1,277 945 1,284 RMH 1,960 1,450 1,972 RH 2,874 2,126 2,891 COMMERCIAL $1,679 $671 $1,689 INDUSTRIAL 1,007 403 1,013 NON-RESIDENTIAL (40% OF MAXIMUM) (70°% 01 (50% 0 TAX ON DEVELOPED PROPERTY MAXIMUM PERCENTAGE 1996-97 1997-98 % OF ONE-TIME SPECIAL Ti 13.81 Yo 9.48% 9.48% PROPERTY TYPE FISCAL YEAR 1996-97 FISCAL YEAR 1997-98 MAXIMUM TAX MAXIMUM TAX TAX RATES TAX RATES RESIDENTIAL RL $305 RLM 839 RM 1,406 RMH 2,156 RH 3,035 COMMERCIAL $2,608 INDUSTRIAL 1,304 NON-RESIDENTIAL (74% OF MAXIMUM) (70% OF $226 $307 621 844 1,041 1,415 1,595 2,169 2,246 3,053 $1,043 $2,624 522 1,312 (40% OF MAXIMUM) (50% OF RESIDENTIAL RL RLM RM RMH RH COMMERCIAL NON-RESIDENTIAL INDUSTRIAL (74% OF MAXIMUM) (70% OF $301 $223 $303 826 61 1 831 1,322 979 1,330 2,030 1,502 2,043 2,976 2,203 2,994 (40% OF MAXIMUM) (50% OF $1,739 $695 $1,749 1,043 41 7 1,049 TAX ON DEVELOPED PROPERTY MAXIMUM PERCENTAGE 1996-97 1997-98 % OF ONE-TIME SPECIAL Tf 13.81 Yo 9.48% 9.48% PROPERTY TYPE FISCAL YEAR 1996-97 FISCAL YEAR 1997-98 MAXIMUM TAX MAXIMUM TAX TAX RATES TAX RATES RESIDENTIAL RL RLM RM RMH RH COMMERCIAL INDUSTRIAL NON-RESIDENTIAL (74% OF MAXIMUM) (70% C $309 $228 $31 1 848 628 853 1,421 1,052 1,430 2,179 1,613 2,193 3,068 2,270 3,087 $2,636 $1,055 $2,652 1,318 527 1,326 (40% OF MAXIMUM) (50% C RESIDENTIAL RL RLM RM RMH RH NON-RESIDENTIAL COMMERCIAL INDUSTRIAL (74% OF MAXIMUM) (70% C $304 $225 $306 835 61 8 840 2,052 1,518 2,064 1,337 989 1,345 3,009 2,227 3,027 (40% OF WUUU) (50% ( $1,758 $703 $1,768 1,055 422 1,061 TAX ON DEVELOPED PROPERTY MAXIMUM PERCENTAGE 1996-97 1997-98 % OF ONE-TIME SPECIAL T 13.81 Yo 9.48% 9.48% PROPERTY TYPE FISCAL YEAR 1996-97 FISCAL YEAR 1997-98 MAXIMUM TAX MAXIMUM TAX TAX RATES TAX RATES RESIDENTIAL RL $309 RLM 848 RM 1,421 RH 3,068 CO M M ERClAL $2,636 INDUSTRIAL 1,318 RMH 2,179 NON-RESIDENTIAL (74% OF MAXIMUM) (70% 01 $228 $31 1 628 853 1,052 1,430 2,270 3,087 $1,055 $2,652 527 1,326 1,613 2,193 (40% OF MAXIMUM) (50% 0 I RESIDENTIAL (74% OF MAXIMUM) RL $304 $225 RLM 835 61 8 RM 1,337 989 RMH 2,052 1,518 RH 3,009 2,227 COMMERCIAL $1,758 $703 INDUSTRIAL 1,055 422 NON-RESIDENTIAL (40% OF MAXIMUM) (70% 0 $306 840 1,345 2,064 3,027 $1,768 1,061 (50% 01 TAX ON DEVELOPED PROPERTY MAXIMUM PERCENTAGE 1997-98 1996-97 % OF ONE-TIME SPECIAL T/ 1 3.81 Oh 9.48% 9.48% FISCAL YEAR 1096-97 FISCAL YEAR 1997-98 PROPERTY MAXIMUM TAX MAXIMUM TAX TYPE TAX RATES TAX RATES TAX RATE IMPROVEMENT AREA I: RESIDENTIAL (70% C RL $309 NA $31 1 RLM 849 NA 854 RM 1,423 NA 1,431 RMH 2,182 NA 2,195 RH 3,071 NA 3,090 COMMERCIAL $2,640 NA $2,655 INDUSTRIAL 1,320 NA 1,327 NON-RESIDENTIAL (50% C TAX RATE IMPROVEMENT AREA I!: RES ID ENTlAL (70% C RL $304 NA $306 RLM 836 NA 84 1 RMH 2,054 NA 2,066 RH 3,012 NA 3,030 COMMERCIAL $1,759 NA $1,770 . INDUSTRIAL 1,056 NA 1,062 RM 1,338 NA 1,346 NON-RESIDENTIAL (50% C TAX ON DEVELOPED PROPERTY MAXIMUM PERCENTAGE 1996-97 1997-98 % OF ONE-TIME SPECIAL TI 13.81 % 9.48% 9.48% 8a I' a i4$-=7= ["ti I U'$J /' ,?! k&;-;;m j; 122 fit e h& -TYt Recording Requested by and When Recorded Return to: CITY CLERK City of Carlsbad 1200 Carlsbad Village Drive Carlsbad, California 92008 i'ii : La & f nn i ti,; Y - 1 >7.<, is ..? - Space above this line for Recorder's use Assessor's Parcel No. 2 15-020-15 Assessor's Parcel No. 2 15-02 1-0 1 AMENDMENT OF BOUNDARY MAP FOR COMMUNITY FACILITIES DISTRICT NO. 1 ANNEXATION NOTICE IS HEREBY GIVEN that the Boundary Map for Annexation No. 94.95-2 of Community Facilities District No. 1 of the City of Carlsbad, recorded on August 18, 1994 as Document No. 1994-0500801, is hereby amended to release Parcel No. 215-021-01 from said annexation for the following reason: Pursuant to a lot split of Parcel No. 21 5-020- 15 for its development only. The remainder Parcel No. 2 15-02 1-01 is not intended to be included in this annexation. & 5-f 1 I \-g . /! DATED I CITY OF CARLSBAD APPROVED AS TO FORM: RONALD R. BALL, City Attorney By: By: Deputy Ciry kitorney ------------------------------.-------------------------------------------------------------------------------------- State of California County of San Diego the withhin instrument and acknowledged to me that(h&&e/tbep executed the same in i&&/h@/tl-tei& authorized capacity(&, and that by$&e~fik~ signature($. on the instrument the person(& or entity upon behalf of which fhe personMj ad&, exccntzc! the kst~~lmetlt, 7 WITNESS my hand and official seal /' 'i ,q ,, -, . ,.4 ..--i"- , / ,' (SEAL) i /:,, /',& y .e,L& (Signature) / f'j""' nrf-ln-,? 0, k Li,A& P>Lb.!i&.3 2131 f;F i $.erg FEES: q] $TCGB C@&TY $ECaf!~''"" ,&n 2 i i pqyfiFv i;pl~!i [jl\b!T'i! @F'?of Jt ic L-i RECORDING REQUESTED BY: lJft&&..,i LIgdir!! ' 1 L '. ' iS'J 2.($ The City of Carlsbad #- : flF z im 00 WHEN RECORDED MAIL TO: CF 2 I@ ijQ Owner(s) of Record: City of Carlsbad 1200 Carlsbad Village Drive Carlsbad CA 92008 ............................................................................................................. Space Above This Line for Recorder's Use NOTICE OF CANCELLATION OF SPECIAL TAX LIEN NOTICE IS HEREBY GIVEN by the City Council of the City of Carlsbad, in its capacity a: Iggislative body of Community Facilities District No. 1 of the City of Carlsbad, that obligation to pay the special tax set forth in and secured by that certain "Notice of Sp Tax Lien for Community Facilities District No. 1 of the City of Carlsbad" recorded ir official records of the San Diego County Recorder's Office on May 20, 1991 as Docui No. 1991-0236959, has been paid and permanently satisfied as to that certain real pro1 identified as follows: Assessor's Parcel No.: Owner(s) of Record: 21 50201 500 City of Carlsbad 1200 Carlsbad Village Drive Carlsbad CA 92008 A portion of Parcel 2 of Parcel Map No.1 188 of the of Carlsbad, County of San Diego, State of Califo filed in the Office of the San Diego County Recorde 12120172. Legal Description: Dated: 1 O#/ I96 mP L2GZL.J Assistafit Finance Director of the City of Carlsbad, State of California STATE OF CALIFORNIA COUNTY OF SAN DIEGO On October z, 1996 before me, Karen R. Kundtz, Assistant City Clerk of the City of Carlsbad, personally appeared E. Allen, Assistant Finance Director, personally known to me to be the person whose name is subscribed to the instrument and acknowledged to me that she executed the same in her authorized capacity, and that by her signature instrument the person, or entity upon behalf of which the person acted, executed the instrument. WITNESS my hand and official seal ad I 0 ~~~ .. e ra 13-HOV-1996 02 OFFICIAL FtECORiiS SAH DJEGO ClOUEITY RECORDER'S WHEN RECORDED, RETURN TO: CITY CLERK RF : j?,r36 FEES: 277 GREGDRY SPlIfH 7 COUHfY RECC! CITY OF CARLSBAD I AF : 35.00 flF : 1.00 1200 CARLSBAD VILLAGE DRIVE i CARLSBAD, CA 92008 CF E 1.08 AMENDMENT TO THE NOTICE OF SPECIAL TAX LIEN (NOTICE OF ANNEXATION) Pursuant to the requirements of Section 3117.5 of the Streets and Highways Code and Sec 53339.8 of the Government Code, the undersigned CITY CLERK of the legislative body of CITY OF CARLSBAD, COMMUNITY FACILITIES DISTRICT NO. 1, ANNEXATION NO. 96/97 payment of a special tax which the City Council of the City of Carlsbad, County of San DiC State of California, is authorized to annually levy for the following purpose: To pay for certain public capital facilities, including the payment of principal and interest on bonds, said facilities generally described as the construction and installation or purchase of the following: I. STATE OF CALIFORNIA, HEREBY GIVES NOTICE that a lien is hereby imposed to sec Public facilities generally described as new library facility, a major addition to an existing library building, a City Hall complex, and the addition of office and warehouse facilities at the public safety center. II. Park improvements generally designated as the MACARIO CANYON PARK. Ill. Major street improvements in portions of the following designated public streets: FARADAY AVENUE, CANNON ROAD, IA COSTA AVENUE, OLIVENHAIN ROAD/RANCHO SANTA FE ROAD & LEUCADIA BOULEVARD. Iv Major bridge and overpass facilities generally described as the LA COSTA INTERCHANGE, POINSETTIA LANE INTERCHANGE & PALOMAR AIRPORT ROAD INTERCHANGE. The special tax is authorized to be levied within Community Facilities District No. 1, Annexa1 No. 96/97-1 , which has now been officially formed, and the lien of the special tax is a continu lien which shall secure each annual levy of the special tax and which shall continue in force i effect until the special tax obligation is prepaid, permanently satisfied and canceled accordance with law or until the special tax ceases to be levied and a notice of cessatior special tax is recorded in accordance with Section 53330.5 of the Government Code. The rate and method of apportionment of the authorized special tax is as shown on the attach referenced and incorporated Exhibit "A", and the special tax shall be collected in the sa manner as ordinary ad valorem property taxes are collected and shall be subject to the sa penalties and the same procedure, sale and lien priority in case of delinquency as is provide 1 c. < 0 0 for ad valorem taxes. Conditions under which the obligation to pay the special tax m prepaid and permanently satisfied and the lien of the special tax canceled are as follows: Any special tax for public capital facilities may be prepaid and satisfied by the payment maximum present value of the special tax obligation. Notice is further given that upon the recording of this notice in the office of the County Reo the obligation to pay the special tax levy shall become a lien upon all non-exempt real prc within the District in accordance with Section 31 15.5 of the Streets and Highways Code. The names of the owner(s) of the real pmperty included within the Cmmwnity Facilities C as they appear an the last secured assessment roll as of the date of recording of this Notic the Assessor's tax parcel(@ numbers of all parcels or any portion thereof which are inc within said territory to be annexed to this Community Facilities District are as set forth c attached, referenced and incorporated Exhibit W. Reference is made to the following: 1. Notice of Special Tax lien recorded May 20, 1991, Document No. 91-236959 in the off the County Recorder for the County of San Diego, State of California. 2. Boundary map of the original Community Facilities District recorded at Book 24, Pag Document No. 90-6741 18, Maps of Assessment and Community Facilities Districts i Off ice of the County Recorder for the County of San Diego, State of California. 3. Boundary map of the Future Annexation Area District recorded at Book 27, Page Document No. 93-220163, Maps of Assessment and community Facilities Districts i office of the County Recorder for the County of San Diego, State of California. 4. Boundary map of the AnFeXation Area No. 9697-1 recorded at Book, 30 , Page 2 Document No. 9 6 4 574243 Maps of Assessment and Community Facilities Districts i office of the County Recorder for the County of San Diego, State of California. For further information concerning the current and estimated future tax liability of own€ purchasers of real property subject to this special tax lien, interested persons should contai following designated person: Lisa Hildabrand, Finance Director City of Carlsbad 1200 Carisbad Village Drive Telephone: (61 9) 434-2867 Carlsbad CA 92008 uz L. / Date t'lty of Carlsbad State of Cslifornia - 1 0 0 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 EXHIBIT "A" PROPERTY CATEGORIES AND MAXIMUM TAX All taxable property within the boundaries of the Future Annexa- tion Area subject to ANNUAL SPECIAL TAXES as applicable based upon the rates as e€ for the original Community Facilitiea District No. 1 and further based property categories, maximum tax rates, increases and status of the is1 building permits, all as hereinafter set forkh. Ix!~xvJ~=I~;Q~& &ea I rmfm District. Improvement Area I1 is for all remaining properties within the Facilities District, not within the Bridge t Thoroughfare District. pxopertiee witnin the boundaries of the City of Carlsbad Bridge and Tho RESIDENTIAL PROPER!LT ANNUAL SPECIAL TAX - UNDEVELOPED PROPERTY All taxable property prior to the issuance of a building permit shall be 8 the following maximum annual special taxes, subject to increases as b herein : MAXIMUM ANNUAL SPECIAL TAX - UNDEVELOPED PROPERTY PER DEVELOPABLE ACRE FOR FISCAL YEAR 1990/1991 IMPROVEMENT IMPROVEMENT PROPERTY CATEGORY AREA I AREA IX Resldent ial Low S 181.00 $ 277.00 Residential Low to Medium 772.00 760.00 Residential Medium 1,294.00 1,217.00 Residential Medium to High 1,984.00 1,868.00 Residential High 2,793000 2,739 .OO SPECIAL DEVELOPMENT TAX - ONE TIME Upon the issuance of a building permit, all Residential properties shall bc to the following described SPECIAL DEVELOPMENT TAX - ONE TIME, also 8u increases as set forth herein, as follows: MAXIMUM SPECIAL DEVELOPMENT TAX - ONE TIME PER RESIDENTIAL DWELLING UNIT FOR FISCAL YEAR 1990/1991 IMPROVEMENT IMPROVEMENT AREA I AREA I1 PROPERTY CATEGORY Residential Low S 4,452.00 $ 3,835.00 Residential Medium 2,810.00 2,312.00 Residential Medium to High 2,810.00 2,312.00 Residential High 2,810.00 2,312.00 Residential Low to Medium 4,452.00 3,835 . 00 e 0 COWHgRCrAL, ImusTRIBL = OTHER PRoPERTp ANNUAL SPECIAL TAX - UNDEVELOPED PROPERTY All taxable Commercial and Industrial Property prior to the issuance Of c permit shall be subject to the following maximum annual special taxes, al! to increases as set forth herein: MAXIMUM ANNUAL SPECIAL TAX - UNDEPELOPED PROPERTY PER DEVELOPABLE ACRE FOR FISCAL YEAR 1990/1991 I@-&a WNT It4PROVEMENT AREA I AREA I1 Commercial Property $ 2,400.00 $ 1,600.00 Industrial Property 1,200.00 960.00 Agricultural Property -0- -0- All Commercial and Industrial Property, upon the issuance of a buildinc shall have the option to (1) pay the SPECIAL DEVELOPMENT TAX - ONE TII assume the ANNUAL, SPECIAL TAX - DEVELOPED PROPERTY for a period of not twenty-five (25) years, generally in the mount8 per property category as f0 MAXIMUM SPECIAL DEVELOPMENT TAX - ONE TIME FOR FISCAL YEAR 1990/91 PER SQUARE FOOT OF BUILDING AREA PROPERTY CATEGORY IMPROVEMENT IMPROVEXENT COMHERCIAL USE DESIGNATIONS AREA I AREA 11 Restaurant - Fast Food S 28.46 S 7.58 Outdoor Tennis Courts 28.14 7.26 Convenience Market 27.31 6.74 Bank with Drive-thru 18.06 5.72 Campground 17.51 4.99 Restaurant - Sit Down 15.17 4.73 Marina 14.85 4.41 Bank - Walk In 12 a 83 4.60 Auto - Gasoline 8.11 2.89 Grocery Store 7.78 2.56 S 6 L with Drive-thru 7.59 3.48 Bowling Center 6.63 2.83 Restaurant - Quality 6.57 3.09 Neighborhood Shopping Center 6.46 2.27 Auto Car Wash 6.31 2.52 S C L - Walk In 5-51 3.03 Race Track 5.10 2.33 Library 4.26 2.86 Community Shopping Center 4.24 1.80 Hospital - General 3.88 3.18 e IMPROVEMENT IMPROVE24ENT COMMERCIAL USE DESIGNATIONS AREA I AREA If e Hotel - Conv. Fac/Comm. 3.47 2.52 Auto - Repair & Sales 3.41 1.58 Regional shopping Center 3.35 1.61 Discount Store 3.22 1.58 Golf Course 3.e6 2.14 Church 2.99 1.94 Office - Government 2.93 1.88 Commercial Shops 2.90 1.58 Health Club 7.89 1.85 Motel 2.69 2.06 Office - High Rise 2.67 1.84 Office - Commercial, 100,000 SF 2.56 1.75 Lumber/Hardware Store 2.47 1.58 Office - 'Medical 2.42 2.07 Hospital - Convalescent 2.33 2.23 Indoor Sports Arena 2.33 2.23 Resort Hotel 2.30 1.98 University 2.26 1;91 Junior College 2.19 1.90 All other Commercial Properties 2.14 1.44 not indent if fed above IMPROVEMENT IMPROVEMENT INDUSTRIAL USE DESIGNATIONS AREA I AREA I1 Heliports S 10.63 S 3.67 fndastrial-Commercial Business Park 2.14 1.51 All other Industrial Properties not fdentif ied above 1.74 1.42 OR, IEITHEALTEmATE, ANNUAL SPECIAL TAX The "Maximum Annual Special Tax - Developed Property" for any Fiscal Year exceed 13.81% of the authorized "Maximum Special Development Tax - One Time various commercial and Industrial Property categories as ret forth abov amount applicable and annually adjusted for each Fi8cal Year. ANNUAL TAX INCREASE The above SPECIAL TAXES for the taxable properties are applicahle for tl construction costs. The Construction Cost Index of the Engineering New titled "ENR Cost Indexes in 22 Cities" will be used. The Index publishec month of April for the City of Los Angeles under the column heading of "P Change from Last Year" will annually inflate each of the Maximum Annual ' each year for properties as follows: year 1990/91, and are all aubject to annual increases to reflect inci 0 0 A. PROPERTIES WITHIN THE DISTRICT: Not to exceed 50% of the above-referenced increase. B. PROPERTSES TO BE SUBSEQUENTLY ANNEXED: Not to exceed 100% of the above-referenced increase until annexed. TERM OF TU The above taxes shall be levied until all bonds have been discharged and f funded and/or guaranteed, and the SPECIAL DEVELOPMENT TAX - ONE TIME has b however, the ANNUAL SPECIAL TAX - FEVELQPED PF.CPERTY skidl net, be levi period fn excese-of twenty-five (25) years per parcel. Residential : Once a bltilding permit has been issued for Residential property and thc DEVELOPMENT TAX - ONE TIME has been paid, the property no longer will be s any annual special tax. Commercial & Industrial: The commercial and Industrial properties, upon the issuance of a buildin5 have the option to (I) pay the SPECIAL DEVELOPMENT TAX - ONE TIME or (2) a! ANNUAL SPECIAL TAX - DEVELOPED PROPERTY, a8 set forth above, Upon the is1 any building permit, no further increase or escalation is authorized. ALLOCATIOEI OF COST AHXI TAX Total capital costs for all authorized facilities shall be allocated as 65%-to Residential property, 35% to Commercial & Industrial property. 1 coatB exclude costs of issuance as needed. Residential property ehall be taxed in an amount sufficient to meet the 65% facilities, which tax will include costs of issuance, interest and othe including sinking fund payments for future construction as applicable. Commercial C Industrial property shall be taxed in an amount sufficient to 35% ehare of facilities, which tax will include costs of issuance, inte other costs, including einking fund payments for future construction as appl COSUCZXOH OF ANNUAL TAX Residential : Determine monies necessary to make payment on bond debt service, replenish call bonds, pay bonds and Community Facilities District No. 1 administratit and pay for public capital facilities. FIRST: Reduce this amount by t collected from Special Development Tax - One The levied against re: properties. SECOND: The remaining funds needed are to be collected by tha the annual Special Tax - Undeveloped Property on undeveloped taxable res acreage, in the proportional amounts for each property category as requirec exceed the maximum authorized tax. 1 0 e b Commercial and Indmttial: Determine monies necessary to make payment on bond debt service, replenish call bonds, pay bonds and community Facililies District No. 1 administrati and pay for current or future public capital facilities. FIRST: Reduce t€ by the funds collected from Special Development Tax - One Time and annua Tax - Developed Property levied against commercial and industrial pr SECOND: Levy the annual Special Tax - Undeveloped Property on undevelope commercial and industrial acreage in the proportional amounts for each category a8 required, not to exceed the maximum tax. *** .a 1 .* e 0 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 PROPERTY OWNER NAME AND ASSESSORS PARCEL NUMBER! "EXHIBIT B" Property Owner: Continental Ranch, Inc. Asses so r's Pa rce I Numbers: 222-0 1 1 -05-00 2 1 5-03 1 -05-00 22 1 -0 1 2-09-00 L F z -- PALOMAR 7 \ I 4 SCALE 4 I -a mc0?4s~ 4i&+4--- -~ -- -5 ~ -,.;> hF' I -- I % G 0; .r) c I. 3 -a0 0' 0 z 20 I .J 7 =fl 3 Fg 2ui