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HomeMy WebLinkAbout1999-06-22; City Council; 15269; Establish 1999-00 Special Tax For CFD No. 1!z & 9 . . p 2 6 5 0 0 1 - - CITY OF CARLSBAD - AGENDA BILL 77 @ AB# I 5: kbci T’T‘E: MTG. 06/22/99 ESTABLISH 1999-00 SPECIAL TAX FOR DEPT. FIN COMMUNITY FACILITIES DISTRICT NO. 1 CITY MGR.a RECOMMENDED ACTION: Adopt Resolution No. 4 9*&r establishing the 1999-00 special tax for the Community Facilities District No. 1. ITEM EXPLANATION: In 1982, the State Legislature responded to the need for a high quality method of financing public improvements by approving the Mello-Roos Community Facilities Act of 1982. This Act allows voters to approve a special tax to be levied upon their property to fund the construction or acquisition of facilities or services. In the City of Carlsbad, a Community Facilities District (CFD) is not intended to relieve any property owner of the responsibility to provide funding for infrastructure improvements related to development. No homeowners in Carlsbad are affected by a City CFD because under the City’s guidelines, any and all tax obligations on residential units must be paid in full when the building permit is issued. When a building permit is issued for non-residential development, property owners must choose whether to pay the CFD tax in full or pay pass-through taxes for twenty-five years. The City of Carlsbad and property owners of specific vacant land in Carlsbad worked together to form a CFD to provide funding for a variety of infrastructure projects needed to meet growth management requirements. Vacant land and a small percentage of developed non-residential land located in sixteen Local Facilities Management Zones are currently in the CFD, with other zones annexing as development plans progress. Following Mello-Roos legislation, Council held a public hearing and an election and formed Community Facilities District (CFD) No. 1, on May 7, 1991. Through debt financing or available cash balances, CFD No. 1 will fund the following capital projects: Civic Facilities Library Warehouse Facility City Hall Veteran’s Memorial Park l-5 lnterchanaes Palomar Airport Road La Costa Avenue Poinsettia Lane Road Seoments La Costa Avenue Olivenhain Road Cannon Road Faraday Avenue In June 1991, Council adopted an ordinance putting in place the tax formula for the district establishing the maximum tax rates that may be levied in CFD No. 1. The maximum tax rate for property within the CFD is adjusted each year by one-half of the annual change in the Los Angeles inflationary factor in the “Engineering News Record” (ENR) Cost Indexes in 22 Cities. The maximum tax rate for property not yet included within CFD No. 1 is adjusted by the full ENR percentage change until the fiscal year of annexation. Although the ordinance established a ceiling for future tax rates, it did not create the individual tax levy that will be placed on each parcel. Each year the City establishes the levy as the funding needs for the next fiscal year are known. Staff recommendations for the 1999-00 tax levy are presented in Exhibit A of the attached Resolution and show the tax rate schedule for property included within CFD No. 1 at formation, as well as for property annexed thereafter. The maximum tax rates reflect an increase of one-half of the ENR inflator (1.15%) as described above. I - Page 2 of Agenda Bill # I 5; $.,(a 9 Vacant property planned for future residential development will decrease from 50% of the maximum tax to 40% of the maximum tax on each developable acre. The one-time tax levied at the time of building permit issuance on residential property will remain constant at 90% of the maximum tax on each dwelling unit. The tax on vacant property zoned for future commercial or Industrial development is proposed to remain constant at 60% of the maximum tax on each developable acre. These rates were set low initially at the request of the property owners and were projected to increase over time. The one-time tax levied at the time of building permit issuance on non-residential property will remain at 100% of the maximum tax per square foot of building area. Certain non-residential property owners elected not to pay off their CFD obligation at the time building permits were issued. Instead, they chose to assume an annual special tax for developed property for twenty-five years. According to the CFD documents, the annual special tax on developed property shall not exceed 13.81% of the authorized one time payoff tax for commercial and industrial property. This percentage rate was determined based on the average cost of bond financing (I 1%) plus financing costs. The proposed 1999-00 tax rate for developed property is 8.70% of each property’s one time payoff tax. This rate is unchanged from last year. FISCAL IMPACT: The levying of taxes on parcels within CFD No. 1 will create the necessary cash flow to finance the construction of the new library, l-5 Interchanges, and other major civic and road projects. Setting the CFD tax at the recommended rates will result in a tax levy on vacant property of about $1.1 million for the 1999-00 fiscal year. The revenue generated by the one-time tax levied at building permit will be determined by the amount of development activity that occurs. The one-time special tax, based on growth projections, is estimated to be $4.4 million for the 1999-00 fiscal year. The current delinquency rate is approximately 2%. This should not have any significant fiscal impact because delinquencies are factored into future revenue projections. The CFD will eventually receive these delinquent taxes; it is just a matter of when the collection occurs. EXHIBITS: q94eb 1. Resolution No. establishing the 1999-00 special tax for Community Facilities District No. 1. 1 4 2 4 5 6 7 a 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 RESOLUTION NO. 99-226 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, ESTABLISHING SPECIAL TAX FOR A COMMUNITY FACILITIES DISTRICT WHEREAS, the CITY COUNCIL of the CITY OF CARLSBAD, CALIFORNIA, (hereinafter referred to as the “legislative body”), has initiated proceedings, held a public hearing, conducted an election and received a favorable vote from the qualified electors relating to the levy of a special tax in a community facilities district, all as authorized pursuant to the terms and provisions of the “Mello- Roos Community Facilities Act of 1982”, being Chapter 2.5, Part 1, Division 2, Title 5 of the Government Code of the State of California. This Community Facilities District shall hereinafter be referred to as COMMUNITY FACILITIES DISTRICT NO. 1 (hereinafter referred to as the “District”); and, WHEREAS, this legislative body, by Ordinance as authorized by Section 53340 of the Government Code of the State of California, has authorized the levy of a special tax to pay for costs and expenses related to said Community Facilities District, and this legislative body is desirous to establish the specific 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 to be collected to pay for the costs and expenses for the next fiscal year (1999-00) for the referenced District is hereby determined and established as set forth in the attached, referenced and incorporated Exhibit A. SECTION 3. That the rate as set forth above does not exceed the amount as previously authorized by Ordinance of this legislative body, and is not in excess of that as previously approved by the qualified electors of the District. 1 2 3 4 5 6 7 0 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 - SECTION 4. That the proceeds of the special tax shall be used to pay, in whole or in part, the costs of the following, in the following order of priority: A. Payment of principal of and interest on any outstanding authorized bonded indebtedness; B. Necessary replenishment of bond reserve funds or other reserve funds; C. Payment of costs and expenses of authorized public facilities and public services; D. Repayment of advances and loans, if appropriate. The proceeds of the special taxes shall be used as set forth above, and shall not be used for any other purpose. SECTION 5. The annual special tax shall be collected in the same manner as ordinary ad valorem property taxes are collected, and shall be subject to the same penalties and same procedure and sale in cases of any delinquency for ad valorem taxes, and the Tax Collector is hereby authorized to deduct reasonable administrative costs incurred in collecting any said special tax. SECTION 6. All monies above collected shall be paid into the Community Facilities District funds, including any bond fund and reserve fund, SECTION 7. The Finance Director is hereby directed to calculate the installment of the annual special tax for each parcel within the District and provide a list of those special taxes to the Auditor of the County. The Auditor of the County is hereby directed to enter in the next County assessment roll on which taxes will become due, opposite each lot or parcel of land affected in a space marked “public improvements, special tax” or by any other suitable designation, the installment of the special tax. SECTION 8. The County Auditor shall then, at the close of the tax collection period, promptly render to this Agency a detailed report showing the amount and/or amounts of such special tax installments, interest, penalties and 1 2 3 4 5 6 7 8 9 10 11 12 13 14 1.5 16 17 18 19 20 21 22 23 24 25 26 27 28 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 of Carlsbad at its regular meeting held on the 22 day of June , 1996, by the following vote, to wit: AYES: Council Members Lewis, Nygaard, Finnila, Hall & Kulchin NOES: None ABSENT: None ATTEST: I’ ’ (SEAL) EXHIBIT A Page 1 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 TAX RATES UNDEVELOPED PROPERTY FOR PROPERTY ORIGINALLY IN THE DISTRICT MAY 7,199l FISCAL YEAR 1998-99 I FISCAL YEAR 1999-00 PROPERTY MAXIMUM TAX MAXIMUM TAX TYPE I TAX RATES TAX RATES TAX RATE IMPROVEMENT AREA I: RESIDENTIAL (50% OF MAXIMUM) (40% OF MAXIMUM) RL $298 $149 $302 $121 RLM RM RMH RH NON-RESIDENTIAL COMMERCIAL INDUSTRIAL 820 1,374 2,107 2,966 $2,548 1.274 410 829 332 687 1,390 556 1,053 2,131 852 1,483 3,000 1,200 (60% OF MAXIMUM) (60% OF MAXIMUM $1,529 $2,578 $1,547 764 1.289 773 i TAX RATE IMPROVEMENT AREA II: I I RESIDENTIAL RL RLM RM RMH RH NON-RESIDENTIAL COMMERCIAL INDUSTRIAL $294 807 1,292 1,983 2,908 $1,699 1,019 (50% OF MAXIMUM $147 403 646 992 1,454 (60% OF MAXIMUM: $1,019 612 $297 816 1,307 2,006 2,942 $1,718 1.031 ANNUAL NON-RESIDENTIAL TAX - DEVELOPED PROPERTY (40% OF MAXIMUM $119 326 523 802 1,177 (60% OF MAXIMUM $1,031 619 TAX ON DEVELOPED PROPERTY % OF ONE-TIME SPECIAL TAX MAXIMUM PERCENTAGE 13.81% 1998-99 8.70% 1999-00 8.70% NOTES: TAX RATE AREA I INCLUDES PROPERTY WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO. 1. TAX RATE AREA II EXCLUDES PROPERTY WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO. I. ENGINEERING NEWS RECORD INFLATION RATE WAS 2.3%. ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES. - EXHIBIT A Page 2 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 TAX RATES UNDEVELOPED PROPERTY FOR PROPERTY ANNEXED INTO THE DISTRICT FISCAL YEAR 1993194 FISCAL YEAR 1998-99 FISCAL YEAR 1999-00 PROPERTY MAXIMUM TAX MAXIMUM TAX TYPE TAX RATES TAX RATES TAX RATE IMPROVEMENT AREA I: RESIDENTIAL (50% OF MAXIMUM) (40% OF MAXIMUM) RL $309 $154 $313 $125 RLM 849 424 859 344 RM 1,423 711 1,439 576 RMH 2,182 1,091 2,207 883 RH 3,072 1,536 3,107 1,243 NON-RESIDENTIAL (60% OF MAXIMUM] (60% OF MAXIMUM) COMMERCIAL $2,639 $1,584 $2,670 $1,602 INDUSTRIAL 1,320 792 1,335 801 TAX RATE IMPROVEMENT AREA II: RESIDENTIAL (50% OF MAXIMUM] (40% OF MAXIMUM) RL $305 $152 $308 $123 RLM 836 418 845 338 RM 1,338 669 1,354 542 RMH 2,054 1,027 2,078 831 RH 3,012 1,506 3,047 1,219 NON-RESIDENTIAL (60% OF MAXIMUM) (6096 OF MAXIMUM) COMMERCIAL $1,760 $1,056 $1,780 $1,068 INDUSTRIAL 1,056 633 1,068 641 ANNUAL NON-RESIDENTIAL TAX - DEVELOPED PROPERTY TAX ON DEVELOPED PROPERTY % OF ONE-TIME SPECIAL TAX MAXIMUM PERCENTAGE 13.81% 1998-99 8.70% 1999-00 8.70% NOTES: TAX RATE AREA I INCLUDES PROPERTY WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO. 1. TAX RATE AREA II EXCLUDES PROPERTY WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO. 1, ENGINEERING NEWS RECORD INFLATION RATE WAS 2.3%. ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES. I -7 EXHIBIT A Page 3 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 TAX RATES UNDEVELOPED PROPERTY FOR PROPERTY ANNEXED INTO THE DISTRICT FISCAL YEAR 1994195 PROPERTY TYPE TAXRATE IMPROVEMl RESIDENTIAL RL RLM RM RMH RH NON-RESIDENTIAL COMMERCIAL FISCAL YEAR 1998-99 FISCAL YEAR 1999-00 MAXIMUM TAX MAXIMUM TAX TAX RATES TAX RATES $312 858 1,439 2,206 3,105 $2,668 :NT AREA I: I INDUSTRIAL I 1,334 TAX RATE IMPROVEMENT AREA II: (50% OF MAXIMUM) (40% OF MAXIMUW $156 $316 $126 429 868 347 719 1,455 582 1,103 2,231 892 1,553 3,141 1,256 (60% OF MAXIMUM) (60% OF MAXIMUM $1,601 $2,699 $1,619 800 1,349 810 RESIDENTIAL RL RLM RM RMH RH ‘JON-RESIDENTIAL COMMERCIAL INDUSTRIAL $308 845 1,353 2,077 3,045 $1,779 1,067 (50% OF MAXIMUM) $154 422 676 1,038 1,523 (60% OF MAXIMUM) $1,067 640 $311 855 1,369 2,101 3,080 $1,799 1,080 (40% OF MAXIMUM) (60% OF MAXIMUM) ANNUAL NON-RESIDENTIAL TAX - DEVELOPED PROPERTY TAX ON DEVELOPED PROPERTY % OF ONE-TIME SPECIAL TAX MAXIMUM PERCENTAGE 13.81% 1998-99 8.70% 1999-00 8.70% NOTES: TAX RATE AREA I INCLUDES PROPERTY WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO. 1, TAX RATE AREA II EXCLUDES PROPERTY WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO. 1. ENGINEERING NEWS RECORD INFLATION RATE WAS 2.3%. ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES. - EXHIBIT A Page 4 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 TAX RATES UNDEVELOPED PROPERTY FOR PROPERTY ANNEXED INTO THE DISTRICT FISCAL YEAR 1995-96 FISCAL YEAR 1998-99 PROPERTY MAXIMUM TAX TYPE TAX RATES TAXRATEIMPROVEMENTAREA I: FISCAL YEAR 1999-00 MAXIMUM TAX TAX RATES RESIDENTIAL RL $313 RLM 858 RM 1,438 RMH 2,206 RH 3,105 NON-RESIDENTIAL COMMERCIAL $2,668 INDUSTRIAL 1,334 TAX RA TE IMPROVEMENT AREA II: (50% OF MAXIMUM) (40% OF MAXIMUM $156 $316 $126 429 868 347 719 1,455 582 1,103 2,231 892 1,553 3,141 1,256 (60% OF MAXIMUM) (60% OF MAXIMUM $1,601 $2,699 $1,619 800 1,349 810 RESIDENTIAL RL RLM RM RMH RH NON-RESIDENTIAL COMMERCIAL INDUSTRIAL $308 845 1,353 2,077 3,045 $1,779 1,067 (50% OF MAXIMUM) $154 422 676 1,038 1,553 (60% OF MAXIMUM) $1,067 640 $311 855 1,369 2,101 3,080 $1,799 1.080 (40% OF MAXIMUM $125 342 547 840 1,232 (60% OF MAXIMUM $1,080 648 ANNUAL NON-RESIDENTIAL TAX - DEVELOPED PROPERTY TAX ON DEVELOPED PROPERTY % OF ONE-TIME SPECIAL TAX MAXIMUM PERCENTAGE 13.81% 1998-99 8.70% 1999-00 8.70% NOTES: TAX RATE AREA I INCLUDES PROPERTY WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO. 1. TAX RATE AREA II EXCLUDES PROPERTY WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO. 1. ENGINEERING NEWS RECORD INFLATION RATE WAS 2.3%. ACTUALTAX RATES CALCULATED TO FOUR DECIMAL PLACES. 4 - - EXHIBIT A Page 5 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 TAX RATES UNDEVELOPED PROPERTY FOR PROPERTY ANNEXED INTO THE DISTRICT FISCAL YEAR 1996-97 FISCAL YEAR 1998-99 PROPERTY MAXIMUM TAX TYPE TAX RATES TAXRATEIMPROVEMENTAREA I: FISCAL YEAR 1999-00 MAXIMUM TAX TAX RATES RESIDENTIAL RL $313 RLM 859 RM 1,440 RMH 2,209 RH 3,108 NON-RESIDENTIAL COMMERCIAL $2,671 INDUSTRIAL 1,335 TAX RATE IMPROVEMENT AREA II: RESIDENTIAL RL $308 RLM 846 RM 1,354 RMH 2,079 RH 3,048 NON-RESIDENTIAL COMMERCIAL $1,781 INDUSTRIAL 1.068 (50% OF MAXIMUM $156 430 720 1,104 1,554 (60% OF MAXIMUM $1,602 801 $316 869 1,457 2,233 3,144 $2,702 1.351 (4G?h OF MAXIMUM) $127 348 583 893 1,258 (60% OF MAXIMUM) $1,621 810 (50% OF MAXIMUM) $154 423 677 1,039 1,524 (60% OF MAXIMUM) $1,068 641 $312 855 1,370 2,103 3,083 $1,801 1.081 (40% OF MAXIMUM) $125 342 548 841 1,233 (60% OF MAXIMUM) $1,081 648 ANNUAL NON-RESIDENTIAL TAX - DEVELOPED PROPERTY TAX ON DEVELOPED PROPERTY % OF ONE-TIME SPECIAL TAX MAXIMUM PERCENTAGE 13.81% 1998-99 8.70% 1999-00 8.70% NOTES: TAX RATE AREA I INCLUDES PROPERTY WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO. 1. TAX RATE AREA II EXCLUDES PROPERTY WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO. 1. ENGINEERING NEWS RECORD INFLATION RATE WAS 2.3%. ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES. EXHIBIT A Page 6 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 TAX RATES UNDEVELOPED PROPERTY FOR PROPERTY ANNEXED INTO THE DISTRICT FISCAL YEAR 1997-98 PROPERTY TYPE FISCAL YEAR 1998-99 MAXIMUM TAX TAX RATES ‘AX RATE IMPROVEMi tESIDENTIAL RL RLM RM RMH RH ION-RESIDENTIAL COMMERCIAL $315 864 1,449 2,221 3,127 INDUSTRIAL 1 1,343 $2,687 XX RATE IMPROVEMENT AREA II: IT AREA I: !ESIDENTIAL RL RLM RM RMH RH ION-RESIDENTIAL COMMERCIAL INDUSTRIAL (50% OF MAXIMUM $157 432 724 1,111 1,563 (60% OF hWUMUM $1,612 806 $310 851 1,362 2,091 3,066 $1,791 1,075 (50% OF MAXIMUM $155 425 681 1,046 1,533 (60% OF MfWMUM $1,075 645 $318 874 1,465 2,247 3,163 $2,718 1,359 (40% OF MAXIMUM $127 350 586 899 1,265 (60% OF MAXIMUM, $1,631 815 $314 861 1,378 ! 2,115 3,101 $1,812 1,087 (40% OF MAXIMUM) $125 344 551 846 1,241 (60% OF MAXIMUM) $1,087 652 ANNUAL NON-RESIDENTIAL TAX - DEVELOPED PROPERTY TAX ON DEVELOPED PROPERTY I % OF ONE-TIME SPECIAL TAX MAXIMUM PERCENTAGE 13.81% 1998-99 I 8.70% 1999-00 8.70% NOTES: TAX RATE AREA I INCLUDES PROPERTY WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO. 1. TAX RATE AREA II EXCLUDES PROPERTY WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO. 1 ENGINEERING NEWS RECORD INFLATION RATE WAS 2.3%. ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES. EXHIBIT A Page 7 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 TAX RATES UNDEVELOPED PROPERTY FOR PROPERTY ANNEXED INTO THE DISTRICT FISCAL YEAR 1998-99 FISCAL YEAR 1998-99 PROPERTY MAXIMUM TAX TYPE TAX RATES TAXRATE IMPROVEMENT AREA I: FISCAL YEAR 1999-00 MAXIMUM TAX TAX RATES RESIDENTIAL RL RLM RM RMH RH NON-RESIDENTIAL COMMERCIAL T $315 864 1,449 2,221 3,127 $2,687 T (50% OF MAXIMUM $157 432 724 1,111 1,563 (60% OF MAXIMUM $1,612 f $320 879 1,474 2,260 3,181 (40% OF MAXIMUM $128 352 590 904 1,273 (60% OF MAXIMUM $1,640 820 INDUSTRIAL 1,343 TAX RATE IMPROVEMENT AREA II: RESIDENTIAL (50% OF MAXIMUM) (40% OF MAXIMUM RL $310 $155 $316 $126 RLM 851 425 866 346 RM 1,362 681 1,386 555 RMH 2,091 1,046 2,128 851 RH 3,066 1,533 3,120 1,248 NON-RESIDENTIAL (60% OF MAXIMUM) (60% OF MAXIMUM: COMMERCIAL $1,791 $1,075 $1,823 $1,094 INDUSTRIAL 1,075 645 1,094 656 ANNUAL NON-RESIDENTIAL TAX - DEVELOPED PROPERTY TAX ON DEVELOPED PROPERTY % OF ONE-TIME SPECIAL TAX MAXIMUM PERCENTAGE 13.81% 1998-99 8.70% 1999-00 8.70% NOTES: TAX RATE AREA I INCLUDES PROPERTY WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO. I. TAX RATE AREA II EXCLUDES PROPERTY WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO. 1. ENGINEERING NEWS RECORD INFLATION RATE WAS 2.3%. ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES. CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 TAX RATES FOR FISCAL YEAR 1999-M) SPECIAL DEVELOPMENT TAX - ONE-TIME EXHIBIT A Page a 1 I I PROPERTY TYPE TRY RATE IMPROVEMENT AREA I: MAY 7,199 $4,3032 4,3032 2,716.l 2.716.1 2,716.l. I RESIDENTIAL (PER DWELLING UNIT) (90% ol the Maximum Tax) 0 - 1.5 DU /ACRE 1 Sl - 4.0 DUIACRE 4.1 - 8.0 DUIACRE 8.1 - 15.0 DUIACRE 15.1 - 23.0 W/ACRE NON-RESIDENTIAL (PER SQ.FT.1 (100% of the Maximum Tax) AUTO - GASOLINE AUTO - REPAIR i?, SALES AUTO CAR WASH BANK-WALK IN BANK - WITH DRIVE THRU BOWLING ALLEY CAMPGROUND CHURCH COMIllERClAL SHOPS COMMUNITY SHOPPING CENTER CONVENIENCE MARKET DISCOUNT STORE GOLF COURSE GROCERY STORE HEALTH CLUB HELIPORTS HOSPITAL - CONVALESCENT HOSPITAL - GENERAL HOTEL - CONV. FAC/COMM. INDOOR SPORTS ARENA INDUSTRIAL - CONMERCIAL BUSINESS PARK JUNIOR COLLEGE LIBRARY LUMBER/HARDWARE STORE MARINA MOTEL NEIGHBORHOOD SHOPPING CENTER OFFICE - COMMERCIAL (c 100,000 SF) OFFICE - GOVERNMENT OFFICE - HIGH RISE OFFICE - MEDICAL OUTDOOR TENNIS COURT RACE TRACK REGIONAL SHOPPING CENTER RESORT HOTEL RESTAURANT - FAST FOOD RESTAURANT - QUALITY RESTAURANT - SIT DOWN S&L-WALKIN S d L -WITH DRIVE THRU UNIVERSITY ALL OTHER COMMERCIAL USES NOT IDENTIFIED ABOVE ALL OTHER INDUSTRIAL USES NOT IDENTIFIED ABOVE $8.7. 3.6( 6.71 13.71 19.4( 7.1: 18.8’ 3.2’ 3.1’ 4.5! 29.3: 3.4t 3.2: 8.3t 3.1( 11.4; 2,s 4.li 3.7: 2s 2.3C 2.3t 2.41 2.3: 2.4~ 2.46 4s 4.74 4.78 2.65 2.7E 2.78 15.95 16.52 16.70 2.85 2.92 3.02 6.94 7.15 7.26 2.75 2.85 2.88 3.15 3.26 3.29 2.87 2.97 3.00 2.60 2.6s 2.72 30.22 31.3c 31.64 5.48 5.67 5.73 3.60 3.73 3.77 2.47 2.56 2.59 30.57 31.66 32.00 7.06 7.31 7.39 16.29 16.88 17.06 5.92 6.13 6.20 8.15 8.44 8.54 2.43 2.51 2.54 2.30 L 1.87 NOTES. - FY 1993-94 FORMATION OR Ah INEXATION I & , FYI99495 ) FY 1995-96 I FY 1998-97 $4,457.1* $4505.6 7 $4.505.6 $4.510.11 54,537.o; 8 $4.564.1, I $4.616.0: 4.457.1, 4fdI5.6 7 4.505.6 4,510.1t 4.537.Oi B 4,564.11 1 4,616.0: 2,813.2 2.843.81 3 2,843.8i 2,846.7; 2.863.71 D 2,880.71 3 2,913.5: 2.813.2 2,843.81 3 2.843.81 2p846.7; 2,863.71 3 2,880.71 3 2.913.5: 2.813.2 2,643.81 a 2,643.81 2.846.7; 2,663.71 3 2.880.71 3 2.913.5: $9.0: $9.1: 2 99.1: 3.7! 3.8: 3 3.8: 7.0: 7.11 1 7.1( 14.2’ 14.4: 3 14.4: 20.0! 20.3’ I 20.3’ 7.3( 7.4 i 7.41 19.4 19.61 3 19.6! 3.3: 3.3t i 3.3( 3.2: 3.2f i 3.24 4.7; 4.7i I 4.7; 30.31 30.71 I 30.7: 3.5t 3.6; , 3.6; 3.4( 3.4 I 3.44 8.6! 8.7: i 8.7: 3.2: 3.2: i 3.2: 11.8; 11.95 i 11.91 2.5: 2.6; 1 2.6; 4.3: 4.36 i 4.3t 3.8i 3.9c I 3% 2.5: 2.62 1 2.62 $9.12 $9.11 3 $9.2r 3.8r 3.8( 3 3.8i 7.1c 7.1! 5 7.1s 14.4r 14.5: 3 14.6’ 20.3: 20.4! 5 20.5; 7.e 7.5’ I 7.5: 19.71 19.8: 3 19.9: 3.3i 3.3! 3 3.4 3.26 3.2t 3 3.3( 4.77 4.8( 1 4.8: 30.74 30.9: , 31.11 3.62 3.6! i 3.6i 3.44 3.4f i 3.45 8.76 8.81 I 8.8E 3.25 3.2i I 3.26 11.97 12.04 i 12.11 2.62 2.6d I 2.61 4.37 4.35 I 4.42 3.91 3.9: 1 3.95 2.62 2.64 I 2.65 I 3 3 I 7 i i I 1 I I I b I I I i 1 $9.3 3.9: 7.2i 14.7t 20.81 7.64 20.1 i 3.44 3.34 4.88 31.46 3.71 3.52 8% 3.33 12.25 2.68 4.47 4.00 2.68 2.41 2.46 4.75 2.78 16.7C 3.02 7.2E 2.88 3.29 3.w 2.72 31.64 5.73 3.77 2.59 32.00 7.39 17.06 6.20 8.54 2.54 2.41 2.42 2.47 2.48 4.80 4.82 2.78 2.80 16.72 16.82 3.03 3.05 7.27 7.31 2.88 2.90 3.30 3.32 3.01 3.02 2.72 2.74 31.68 31.86 5.74 5.77 3.77 3.79 2.59 2.60 32.04 32.23 7.40 7.44 17.08 17.18 6.20 6.24 8.54 8.59 2.54 2.56 2.44 2.49 4.85 2.81 18.92 3.06 7.36 2.92 3.34 3.04 2.76 32.05 5.81 3.82 2.62 32.42 7.48 17.28 6.28 8.65 2.57 2.47 2.52 4.91 2.85 17.11 3.10 7.44 2.95 3.38 3.08 2.79 32.42 5.88 3.86 2.65 32.79 7.57 17.48 6.35 8.74 2.60 2.38 1.94 2.41 2.41 2.41 2.42 2.44 2.47 1.96 1.96 1.96 1.97 1.98 2.w -E IT 1997-98 Ff 1998-99 FY 1999-00 TAX RATE AREA I INCLUDES PROPERM WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO 1 TAX RATE AREA II EXCLUDES PROPERTY WlTnlN BRIDGE AND THOROUGHFARE DISTRICT NO. 1 ENGINEERING NEWS RECORD INFLATION RATE WAS 2.3% ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES. EXHIBIT A Page 9 1 CITY OF CARLSBAD COMIUNITY FACILITIES DISTRICT NO. I TAX RATES FOR FISCAL YEAR 1999-00 SPECIAL DEVELOPMENT TAX - ONE-TIME I I PROPERTY TYPE TAX RA TE IMPROVEMENT AREA II: RESlDENTiAL (PER DWELLING UNIT) (90% ol the Maximum Tax) FORMATION OR MAY 7,199I FY 1993-94 FY 1994-95 FY 1995-96 INEXATION C :E FY 1996-97 FY 1997-98 FY 1998-99 FY 199940 $3,706.86 $3.839.46 3,796.86 3.839.46 2.234.75 2.314.65 28234.75 2,314.66 28234.75 2,314.65 %3,881.24 $3681.24 3,88I.2r 3,881.24 2.339.83 2,339.87 2,339.87 2339.83 2-339.87 2.339.81 $3.88511 3,885.l I 2,342.21 2,342.21 2,342.21 $3968.28 3.908.28 2,356.Ia 2,356.18 2,356.18 $3,931.59 S&976.2! 3,931.59 3,976.2! 2,370.23 2.397.11 2,370.23 2.397.11 2,370.23 2.397.11 $3.10 $3.21 $3.2: $3.2: 1.70 I.76 1.78 1.78 2.71 2.80 2.8: 2.82 4.94 5.12 5.li 5.17 6.14 6.36 6.43 6.43 3.04 3.15 3.18 3.18 5.36 5.55 5.61 5.61 2.08 2.16 2.19 2.18 1.70 1.76 I.78 1.7% 1.93 2.66 2.02 2.02 7.24 7.50 7.58 7.58 I .70 1.76 1.78 1.78 2.36 2.38 2.41 2.41 2.75 2.85 2.88 2.88 1.99 2.06 2.08 2.08 3.94 4.08 4.13 4.13 2.39 2.48 2.51 2.51 3.42 3.54 3.5% 3.58 2.71 2.86 2.83 2.83 2.39 2.48 2.51 2.51 $3.25 $3.27 I.78 1.79 2.84 2.65 5.18 5.21 6.44 6.48 3.19 3.20 5.62 5.65 2.18 2.20 I.78 I.79 2.03 2.04 7.59 7.63 I .78 I .79 2.41 2.42 2.88 2.90 2.08 2.09 4.13 4.16 2.51 2.53 3.58 3.60 2.84 2.85 2.51 2.53 $3.29 $3.3: 1.80 1.8; 2.87 2s 5.24 5.X 6.52 6.51 3.22 3.2t 5.68 5.7: 2.21 2.2: 1.80 I .8; 2.95 2.Oi 7.68 7.7f 1.86 1.8; 2.44 2.4i 2.92 2.9f 2.11 2.1: 4.18 4.2: 2.54 2.5i 3.62 3.66 2.87 2.9c 2.54 2.5i I .62 I .68 I.70 1.70 1.70 I.71 1.72 I.74 2.04 2.11 2.14 2.14 2.14 2.15 2.16 2.15 3.07 3.18 3.22 3.22 3.22 3.24 3.26 3.29 1.70 1.76 1.78 I .78 1.78 1.79 1.80 1.82 4.74 4.91 4.96 4.96 4.96 4.99 5.02 5.08 2.21 2.29 2.32 2.32 2.32 2.33 2.35 2.37 2.44 2.53 2.55 2.55 2.56 2.57 2.59 2.62 1.88 I .95 1.97 I.97 1.97 I .98 1.99 2.02 2.02 2.09 2.11 2.1 I 2.12 2.13 2.14 2.17 1.98 2.65 2.07 2.07 2.07 2.08 2.10 2.12 2.22 2.30 2.33 2.33 2.33 2.34 2.36 2.36 7.86 8.08 8.16 8.16 8.17 8.22 8.27 8.36 2.50 2.59 2.62 2.62 2.62 2.64 2.65 2.68 I.73 1.79 I .81 1.81 1.81 I .82 1.83 I.85 2.13 2.20 2.23 2.23 2.23 2.24 2.26 2.28 8.14 8.43 8.52 8.52 8.53 8.58 8.63 8.73 3.32 3.44 3.47 3.47 3.48 3.50 3.52 3.56 5.08 5.26 5.32 5.32 5.32 5.36 5.39 5.45 3.25 3.37 3.41 3.41 3.41 3.43 3.45 3.49 3.74 3.87 3.91 3.91 3.92 3.94 396 4.01 2.05 2.12 2.15 2.15 2.15 2.16 2.18 2.20 I.55 1.53 1.60 1.62 I .62 I .62 I .63 1.64 1.66 I .58 I .60 1.60 I .60 1.61 1.62 1.64 0 - I .5 dU /ACRE 1.51 - 4.0 DUIACRE 4.1 - 8.0 DUIACRE 8.1 - 15.0 DUIACRE 15.1 - 23.0 DU/ACRE NON-RESIDENTIAL (PER SQ.FT.1 (100% of fhe Maximum Tax) AUTO - GASOLINE AUTO - REPAlR it SALES AUTO CAR WASH BANK - WALK IN BANK - WITH DRIVE THRU BOWLING ALLEY CAMPGROUND CHURCH COMMERCIAL SHOPS COMMUNITY SHOPPING CENTER CONVENIENCE MARKET DISCOUNT STORE GOLF COURSE GROCERY STORE HEALTH CLUB HELIPORTS HOSPITAL - CONVALESCENT HOSPITAL - GENERAL HOTEL - CONV. FACXOMM. INDOOR SPORTS ARENA INDUSTRIAL - COMMERClAL BUSINESS PARK JUNIOR COLLEGE LIBRARY LUMBER/HARDWARE STORE MARINA MOTEL NEIGHBORHOOD SHOPPING CENTER OFFICE - COMMERClAL (c IW.000 SF) OFFICE - GOVERNMENT OFFICE - HIGH RISE OFFICE -MEDICAL OUTDOOR TENNIS COURT RACE TRACK REGIONAL SHOPPING CENTER RESORT HOTEL RESTAURANT-FAST FOOD RESTAURANT - QUALITY RESTAURANT -SIT DOWN S&L-WALKIN S & L -WITH DRIVE THRU UNIVERSITY ALL OTHER COMMERCIAL USES NOT IDENTIFIED ABOVE ALL OTHER INDUSTRIAL USES NOT IDENTIFIED ABOVE I NOTES: TAX RATE AREA I INCLUDES PROPERTY WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO. 1. TAX RATE AREA II EXCLUDES PROPERTY WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO 1 ENGINEERING NEWS RECORD INFLATION RATE WAS 2.3%. ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES.