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HomeMy WebLinkAbout2004-06-22; City Council; 17680; CFD 1 2004-05 Special TaxAB# 17,680 MTG. 6/22/04 DEPT. FIN DEPT-HD. !p CITY Am. CITY MGR TITLE: ESTABLISH 2004-05 SPECIAL TAX FOR COMMUNITY FACILITIES DISTRICT NO. I RECOMMENDED ACTION: Adopt Resolution No. 2004-206 Facilities District No. 1. establishing the 2004-05 special tax for the Community 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. The City's CFD affects no homeowners in Carlsbad 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 1-5 Interchancres Road Seaments Library Palomar Airport Road La Costa Avenue OfficeNVarehouse Facilities La Costa Avenue Olivenhain Road City Hall Poinsettia Lane Cannon Road Veteran's Memorial Park 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. PAGE 2 OF AGENDA BILL NO. 17,680 Staff recommendations for the 2004-05 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 (1.45%) as described above. For property planned for future residential development, staff is recommending that the City again levy no tax on vacant property and reduce the one-time tax levied at the time of building permit issuance from 60% to 50% of the maximum tax on each dwelling unit. The tax on vacant property zoned for future commercial or industrial development is proposed to remain at zero. The one-time tax levied at the time of building permit issuance on non-residential property is proposed to decrease from 60% to 40% 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 (1 1 %) plus financing costs. The proposed 2004-05 tax rate for developed property is 8.70% of each property's one time payoff tax. This rate is unchanged from last year. The tax rates proposed for CFD No. 1 are based on the cash flow requirements needed to fund the remaining projects considering the most recent growth projections for the City and the project schedules as shown in the Capital Improvement Program. The tax rates are adjusted annually and are expected to decrease over time as projects are completed. FISCAL IMPACT: The levying of taxes on parcels within CFD No. 1 has created the necessary cash flow to finance the construction of the 1-5 Interchanges, the Carlsbad library on Dove Street, La Costa Blvd., Faraday Ave., portions of Rancho Santa Fe Rd as well as other road projects. Future projects to be financed by the CFD include a Public Works Center, a Civic Center complex, the development of Veteran's Memorial Park and eventually the expansion of the Cole Library. Setting the CFD tax at the recommended rates will result in no taxes from vacant property. The revenue generated by the one-time tax levied at building permit issuance will be determined by the amount of development activity that occurs. The one-time special tax for residential property, based on growth projections, is estimated to be $2.5 million for the 2004-05 fiscal year. An additional $1.3 million is anticipated to be collected from the non-residential developed special tax. EXHIBITS: 1. Resolution No. 2004-206 establishing the 2004-05 Special Taxes for Community Facilities District No. 1. DEPARTMENT CONTACT Lisa Hildabrand, Finance (760) 602-2430, Ihild@ci.catisbad.ca.us 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 le IS 2c 21 22 22 24 2E 2E 27 2E RESOLUTION NO. 2004-206 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, ESTABLISHING THE 2004-05 SPECIAL TAXES FOR COMMUNITY FACILITIES DISTRICT NO.l 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, BE IT RESOLVED by the City Council of the City of Carlsbad, California as follows: SECTION I. The above recitals are all true and correct. SECTION 2. That the specific rate and amount of the special tax to be collected for fiscal year 2004-05 to pay for the costs and expenses for the referenced District is hereby determined and established as set forth in the attached, referenced and incorporated Exhibit A. SECTlON3. 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. //I I// 1 2 3 4 5 6 7 8 9 IO 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. /if /I/ //i Resolution No. 2004-206 page 2 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 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 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 22nd vote, to wit: day of June , 2004, by the following AYES: Council Members Lewis, NOES: None ABSENT: None ATTEST: (SEAL) Resolution No. 2004-206 page 3 5 I tl I tl II b EXHIBIT A Page 2 PROPERTY TYPE CITY OF CARLSBAD COMMUNITY FAClLlTES DISTRICT NO. 1 TAX RATES FOR FISCAL YEAR 2004-05 SPECIAL DEVELOPMENT TAX ONE-TIME FORMATION OR ANNEXATION DATE TAX RATE IMPROVEMENT AREA I: RESIDENTIAL fPER DWELLING UNITJ (50% of the Maximum Tax) 0 - 1.5 DU /ACRE 1.51 - 4.0 DU/ACRE 4.1 - 8.0 DUlACRE 8.1 - 15.0 DU/ACRE 15.1 - 23.0 DU/ACRE NON-RESIDENTIAL (PER SQ.FT.1 (40% of the Maximum Tax) AUTO - GASOLINE AUTO - REPAIR & 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. FACICOMM. INDOOR SPORTS ARENA INDUSTRIAL - COMMERCIAL BUSINESS PARK JUNIOR COLLEGE LIBRARY LUMBERlHARDWARE STORE MARINA MOTEL NEIGHBORHOOD SHOPPING CENTER OFFICE - COMMERCIAL (< 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 - WALK IN S & L - WITH DRIVE THRU UNIVERSITY ALL OTHER COMMERCIAL USES ALL OTHER INDUSTRIAL USES NOT IDENTIFIED ABOVE NOT IDENTIFIED ABOVE MAY 7,1991 $2,550.1 2 2,550.12 1,609.58 1,609.58 1,609.58 $3.72 1.56 2.89 5.88 8.28 3.04 8.02 1.37 1.33 1.94 12.51 1.48 1.40 3.57 1.32 4.87 1.07 1.78 1.59 1.07 0.98 1 .oo 1.95 1.13 6.80 1.23 2.96 1.17 1.34 1.22 1.11 12.89 2.34 1.54 1 .05 13.04 3.01 6.95 2.52 3.48 1.04 0.98 0.80 FY 1993-94 $2,641.35 2,641.35 1,667.16 1,667.16 1,667.16 $3.85 1.62 2.99 6.09 8.57 3.15 8.31 1.42 1.38 2.01 12.96 1.53 1.45 3.69 1.37 5.05 1.11 1.84 1.65 1.11 1.02 1.04 2.02 1.17 7.05 1.28 3.07 1.22 1.39 1.27 1.15 13.36 2.42 1.59 1.09 13.51 3.12 7.20 2.62 3.60 1.07 1.02 0.83 PI 1994-95 $2,670.09 2,670.09 1,685.30 1,685.30 1,685.30 $3.89 1.64 3.03 6.16 8.67 3.18 8.40 1.43 1.39 2.03 13.10 1.54 1.47 3.73 1.39 5.10 1.12 1.86 1.66 1.12 1.03 1 .05 2.04 1.19 7.13 1.29 3.10 1.23 1.41 1.28 1.16 13.50 2.45 1.61 1.10 13.66 3.15 7.28 2.64 3.64 1.08 1.03 0.83 NOTES: TAX RATE AREA I INCLUDES PROPERlY 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 2.9%. ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES. FY 1995-96 $2,670.09 2,670.09 1,685.30 1,685.30 1,685.30 $3.89 1.64 3.03 6.16 8.67 3.18 8.40 1.43 1.39 2.03 13.10 1.54 1.47 3.73 1.39 5.10 1.12 1.86 1.66 1.12 1.03 1.05 2.04 1.19 7.13 1.29 3.10 1.23 1.41 1.28 1.16 13.50 2.45 1.61 1.10 13.66 3.15 7.28 2.64 3.64 1.08 1.03 0.83 FY 1996-97 $2,672.75 2,672.75 1,686.98 1,686.98 1,686.98 $3.90 1.64 3.03 6.16 8.67 3.18 8.41 1.44 1.39 2.04 13.12 1.55 1.47 3.74 1.39 5.1 1 1.12 1.86 1.67 1.12 1.03 1 .05 2.05 1.19 7.13 1.29 3.10 1.23 1.41 1.28 1.16 13.52 2.45 1.61 1.10 13.67 3.16 7.29 2.65 3.65 1.09 1.03 0.84 7 EXHIBIT A Page 3 PROPERTY TYPE . CITY OF CARLSBAD COMMUNITY FAClLlTES DISTRICT NO. 1 TAX RATES FOR FISCAL YEAR 2004-05 SPECIAL DEVELOPMENT TAX ONE-TIME FORMATION OR ANNEXATION DATE TAX RATE IMPROVEMENT AREA I: RESIDENTIAL (PER DWELLING UNIT) (50% of the Maximum Tax) 0 - 1.5 DU /ACRE 1.51 - 4.0 DU/ACRE 4.1 - 8.0 DU/ACRE 8.1 - 15.0 DU/ACRE 15.1 - 23.0 DU/ACRE NON-RESIDENTIAL (PER SQ.FT.) AUTO - GASOLINE AUTO - REPAIR & SALES (40% of the Maximum Tax) 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. FACICOMM. INDOOR SPORTS ARENA INDUSTRIAL - COMMERCIAL BUSINESS PARK JUNIOR COLLEGE LIBRARY LUMBER/HARDWARE STORE MARINA MOTEL NEIGHBORHOOD SHOPPING CENTER OFFICE - COMMERCIAL (< 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- WALK IN S 8 L - WITH DRIVE THRU UNIVERSITY ALL OTHER COMMERCIAL USES ALL OTHER INDUSTRIAL USES NOT IDENTIFIED ABOVE NOT IDENTIFIED ABOVE FY 1997-98 $2,688.69 2,688.69 1,697.04 1,697.04 1,697.04 $3.92 1.65 3.05 6.20 8.73 3.20 8.46 1.44 1.40 2.05 13.19 1.56 1.48 3.76 1.40 5.14 1.13 1.87 1.68 1.13 1.03 1.06 2.06 1.19 7.17 1.30 3.12 1.24 1.42 1.29 1.17 13.60 2.46 1.62 1.11 13.75 3.17 7.33 2.66 3.67 1.09 1.03 0.84 FY 1998-99 $2,704.73 2,704.73 1,707.16 1,707.16 1,707.16 $3.94 1.66 3.07 6.24 8.78 3.22 8.51 1.45 1.41 2.06 13.27 1.57 1.49 3.78 1.40 5.17 1.13 1.89 1.69 1.13 1.04 1.06 2.07 1.20 7.22 1.31 3.14 1.24 1.42 1.30 1.18 13.68 2.48 1.63 1.12 13.83 3.19 7.37 2.68 3.69 1.10 1.04 0.85 FY 1999-00- $2,735.48 2,735.48 1,726.57 1,726.57 1,726.57 $3.99 1.68 3.10 6.31 8.88 3.26 8.61 1.47 1.43 2.08 13.42 1.58 1 SO 3.82 1.42 5.23 1.15 1.91 1.71 1.15 1.05 1.08 2.09 1.21 7.30 1.32 3.18 1.26 1.44 1.31 1.19 13.83 2.51 1.65 1.13 13.99 3.23 7.46 2.71 3.73 1.11 1.05 0.86 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 2.9%. ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES. FY 2000-01 $2,779.88 2,779.88 1,754.60 1,754.60 1,754.60 $4.05 1.70 3.15 6.41 9.02 3.31 8.75 1.49 1.45 2.12 13.64 1.61 1.53 3.89 1.44 5.31 1.16 1.94 1.73 1.16 1.07 1.09 2.13 1.23 7.42 1.34 3.23 1.28 1.46 1.33 1.21 14.06 2.55 1.67 1.15 14.22 3.28 7.58 2.75 3.79 1.13 1.07 0.87 FY 2001-02 $2,820.97 2,820.97 1,780.53 1,780.53 1,780.53 $4.11 1.73 3.20 6.50 9.15 3.36 8.88 1.52 1.47 2.15 13.84 1.63 1.55 3.94 1.46 5.39 1.18 1.97 1.76 1.18 1.08 1.11 2.16 1.25 7.53 1.36 3.27 1.30 1.49 1.35 1.23 14.26 2.59 1.70 1.17 14.43 3.33 7.69 2.79 3.85 1.15 1.08 0.88 s EXHIBIT A Page 4 CITY OF CARLSBAD COMMUNITY FAClLlTES DISTRICT NO. 1 TAX RATES FOR FISCAL YEAR 2004-05 SPECIAL DEVELOPMENT TAX ONE-TIME I PROPERTY TYPE I FORMATH TAXRATE IMPROVEMENTAREA I: RESIDENTIAL (PER DWELLING UNIT) (50% ofthe Maximum Tax) 0 - 1.5 DU /ACRE 1.51 - 4.0 DUIACRE 4.1 - 8.0 DUIACRE 8.1 - 15.0 DUIACRE 15.1 - 23.0 DUlACRE NON-RESIDENTIAL (PER SQ.FT.1 AUTO - GASOLINE AUTO - REPAIR & SALES (40% of the Maximum Tax) 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. FACICOMM. INDOOR SPORTS ARENA INDUSTRIAL - COMMERCIAL BUSINESS PARK JUNIOR COLLEGE LIBRARY LUMBERIHARDWARE STORE MARINA MOTEL NEIGHBORHOOD SHOPPING CENTER OFFICE - COMMERCIAL (< 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 - WALK IN S 8 L -WITH DRIVE THRU UNIVERSITY ALL OTHER COMMERCIAL USES ALL OTHER INDUSTRIAL USES NOT IDENTIFIED ABOVE NOT IDENTIFIED ABOVE NOTES: FY 2002-03 $2,848.90 2,848.90 1,798.16 1,798.16 1,798.16 $4.15 1.75 3.23 6.57 9.25 3.39 8.96 1.53 1.48 2.17 13.98 1.65 1.57 3.98 1.48 5.44 1.19 1.99 1.78 1.19 1.10 1.12 2.18 1.26 7.60 1.38 3.31 1.31 1.50 1.37 1.24 14.41 2.61 1.71 1.18 14.57 3.36 7.77 2.82 3.89 1.16 1.10 0.89 J OR ANNEX! FY 2003-04 $2,874.31 2,874.31 1,814.20 1,814.20 1,814.20 $4.19 1.76 3.26 6.63 9.33 3.42 9.04 1.54 1.50 2.19 14.11 1.66 1.58 4.02 1.49 5.49 1.20 2.00 1.79 1.20 1.11 1.13 2.20 1.28 7.67 1.39 3.34 1.32 1.51 1.38 1.25 14.53 2.63 1.73 1.19 14.70 3.39 7.84 2.85 3.92 1.17 1.11 0.90 ION DATE FY 2004-05 $2,915.39 2,915.39 1,840.1 3 1,840.1 3 1,840.1 3 $4.25 1.79 3.31 6.72 9.46 3.47 9.17 1.57 1.52 2.22 14.31 1.69 1.60 4.08 1.51 5.57 1.22 2.03 1.82 1.22 1.12 1.15 2.23 1.29 7.78 1.41 3.38 1.34 1.53 1.40 1.27 14.74 2.67 1.75 1.20 14.91 3.44 7.95 2.89 3.98 1.18 1.12 0.91 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 2.9%. ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES. EXHIBIT A Page 5 PROPERTY TYPE CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 TAX RATES FOR FISCAL YEAR 2004-05 SPECIAL DEVELOPMENT TAX - ONE-TIME FORMATION OR ANNEXATION DATE 0 - 1.5 DU /ACRE 1.51 - 4.0 DU/ACRE 4.1 - 8.0 DU/ACRE 8.1 - 15.0 DU/ACRE 15.1 - 23.0 DU/ACRE NON-RESIDENTIAL (PER SQ.FT.1 (40% of the Maximum Tax) AUTO - GASOLINE AUTO - REPAIR & 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. FACICOMM. INDOOR SPORTS ARENA INDUSTRIAL - COMMERCIAL BUSINESS PARK JUNIOR COLLEGE LIBRARY LUMBERlHARDWARE STORE MARINA MOTEL NEIGHBORHOOD SHOPPING CENTER OFFICE - COMMERCIAL (< 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 & L - WITH DRIVE THRU UNIVERSITY ALL OTHER COMMERCIAL USES ALL OTHER INDUSTRIAL USES NOT IDENTIFIED ABOVE NOT IDENTIFIED ABOVE NOTES: MAY 7,1991 $2,196.70 2,196.70 1,324.32 1,324.32 1.324.32 $1.32 0.72 1.15 2.1 1 2.62 1.30 2.29 0.89 0.72 0.82 3.09 0.72 0.98 1.17 0.85 1.68 1.02 1.46 1.15 1.02 0.69 0.87 1.31 0.72 2.02 0.94 1.04 0.80 0.86 0.84 0.95 3.33 1.07 0.74 0.91 3.47 1.42 2.17 1.39 1.59 0.88 0.66 0.65 FY 1993-94 $2,275.28 2,275.28 1,371.70 1,371.70 1,371.70 $1.37 0.75 1.20 2.18 2.71 1.34 2.37 0.92 0.75 0.85 3.20 0.75 1.02 1.22 0.88 1.74 1.06 1.51 1.20 1.06 0.72 0.90 1.36 0.75 2.09 0.98 1.08 0.83 0.89 0.87 0.98 3.45 1.11 0.76 0.94 3.60 1.47 2.25 1.44 1.65 0.91 0.68 0.67 FY 1994-95 $2,300.04 2,300.04 1,386.62 1,386.62 1,386.62 $1.39 0.76 1.21 2.21 2.74 1.36 2.39 0.93 0.76 0.86 3.23 0.76 1.03 1.23 0.89 1.76 1.07 1.53 1.21 1.07 0.72 0.91 1.37 0.76 2.12 0.99 1.09 0.84 0.90 0.88 0.99 3.48 1.12 0.77 0.95 3.64 1.48 2.27 1.45 1.67 0.92 0.69 0.68 FY 1995-96 $2,300.04 2,300.04 1,386.62 1,386.62 1,386.62 $1.39 0.76 1.21 2.21 2.74 1.36 2.39 0.93 0.76 0.86 3.23 0.76 1.03 1.23 0.89 1.76 1.07 1.53 1.21 1.07 0.72 0.91 1.37 0.76 2.12 0.99 1.09 0.84 0.90 0.88 0.99 3.48 1.12 0.77 0.95 3.64 1.48 2.27 1.45 1.67 0.92 0.69 0.68 FY 1996-97 $2,302.34 2,302.34 1,388.01 1,388.01 1,388.01 $1.39 0.76 1.21 2.21 2.75 1.36 2.40 0.93 0.76 0.86 3.24 0.76 1.03 1.23 0.89 1.76 1.07 1.53 1.21 1.07 0.73 0.91 1.37 0.76 2.12 0.99 1.09 0.84 0.90 0.88 0.99 3.49 1.12 0.77 0.95 3.64 1.48 2.27 1.46 1.67 0.92 0.69 0.68 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 2.9%. ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES. EXHIBIT A Page 6 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 TAX RATES FOR FISCAL YEAR 2004-05 SPECIAL DEVELOPMENT TAX - ONE-TIME 0 - 1.5 DU /ACRE 1.51 - 4.0 DU/ACRE 4.1 - 8.0 DU/ACRE 8.1 - 15.0 DU/ACRE 15.1 - 23.0 DU/ACRE NON-RESIDENTIAL (PER SQ.FT.) AUTO - GASOLINE AUTO - REPAIR & SALES AUTO CAR WASH (40% of fhe Maximum Tax) 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. FAC/COMM. INDOOR SPORTS ARENA INDUSTRIAL - COMMERCIAL BUSINESS PARK JUNIOR COLLEGE LIBRARY LUMBERJHARDWARE STORE MARINA MOTEL NEIGHBORHOOD SHOPPING CENTER OFFICE - COMMERCIAL (< 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 - WALK IN S & L -WITH DRIVE THRU UNIVERSITY ALL OTHER COMMERCIAL USES ALL OTHER INDUSTRIAL USES NOT IDENTIFIED ABOVE NOT IDENTIFIED ABOVE I FORMATION OR ANNEXATION DATE FY 1997-98 FY 1998-99 FY 1999-00 FY 2000-01 FY 2001-02 $2,316.07 2,316.07 1,396.29 1,396.29 1,396.29 $1.40 0.76 1.22 2.22 2.76 1.37 2.41 0.94 0.76 0.87 3.26 0.76 1.03 1.24 0.89 1.77 1.08 1.54 1.22 1.08 0.73 0.92 1.38 0.76 2.13 1 .oo 1.10 0.85 0.91 0.89 1 .oo 3.51 1.13 0.78 0.96 3.66 1.49 2.29 1.46 1.68 0.92 0.70 0.69 $2,329.88 2,329.88 1,404.61 1,404.61 1,404.61 $1.40 0.77 1.22 2.24 2.78 1.38 2.43 0.94 0.77 0.87 3.28 0.77 1.04 1.24 0.90 1.78 1.08 1.55 1.22 1.08 0.73 0.92 1.39 0.77 2.14 1 .oo 1.10 0.85 0.91 0.89 1.01 3.53 1.13 0.78 0.96 3.68 1.50 2.30 1.47 1.69 0.93 0.70 0.69 $2,356.37 2,356.37 1,420.58 1,420.58 1,420.58 $1.42 0.78 1.24 2.26 2.81 1.39 2.45 0.95 0.78 0.88 3.31 0.78 1.05 1.26 0.91 1.80 1.10 1.56 1.24 1.10 0.74 0.93 1.41 0.78 2.17 1.01 1.12 0.86 0.92 0.90 1.02 3.57 1.15 0.79 0.97 3.73 1.52 2.33 1.49 1.71 0.94 0.71 0.70 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 2.9%. ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES. $2,394.62 2,394.62 1,443.64 1,443.64 1,443.64 $1.44 0.79 1.26 2.30 2.86 1.41 2.49 0.97 0.79 0.90 3.37 0.79 1.07 1.28 0.92 1.83 1.11 1.59 1.26 1.11 0.75 0.95 1.43 0.79 2.20 1.03 1.13 0.87 0.94 0.92 1.03 3.63 1.16 0.80 0.99 3.79 1.54 2.36 1.51 1.74 0.95 0.72 0.71 $2,430.01 2,430.01 1,464.98 1,464.98 1,464.98 $1.46 0.80 1.28 2.33 2.90 1.43 2.53 0.98 0.80 0.91 3.42 0.80 1.08 1.30 0.94 1.86 1.13 1.61 1.28 1.13 0.77 0.96 1.45 0.80 2.24 1.04 1.15 0.89 0.95 0.93 1.05 3.68 1.18 0.82 1 .oo 3.84 1.57 2.40 1.54 1.76 0.97 0.73 0.72 EXHIBIT A Page 7 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 TAX RATES FOR FISCAL YEAR 2004-05 SPECIAL DEVELOPMENT TAX - ONE-TIME PROPERTY TYPE TAX RATE IMPROVEMENT AREA 11: RESIDENTIAL [PER DWELLING UNIT) 150% of the Maximum Tax) 0 - 1.5 DU /ACRE 1.51 - 4.0 DU/ACRE 4.1 - 8.0 DU/ACRE 8.1 - 15.0 DU/ACRE 15.1 - 23.0 DU/ACRE NON-RESIDENTIAL (PER SQ.FT.1 (40% of the Maximum Tax) AUTO - GASOLINE AUTO - REPAIR & 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. FAC/COMM. INDOOR SPORTS ARENA INDUSTRIAL - COMMERCIAL BUSINESS PARK JUNIOR COLLEGE LIBRARY LUMBER/HARDWARE STORE MARINA MOTEL NEIGHBORHOOD SHOPPING CENTER OFFICE - COMMERCIAL (< 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- WALK IN S & L - WITH DRIVE THRU UNIVERSITY ALL OTHER COMMERCIAL USES ALL OTHER INDUSTRIAL USES NOT IDENTIFIED ABOVE NOT IDENTIFIED ABOVE NOTES: FY 2002-03 $2,454.07 2,454.07 1,479.48 1,479.48 1,479.48 $1.48 0.81 1.29 2.35 2.93 1.45 2.55 0.99 0.81 0.92 3.45 0.81 1.10 1.31 0.95 1.88 1.14 1.63 1.29 1.14 0.77 0.97 1.46 0.81 2.26 1.05 1.16 0.90 0.96 0.94 1.06 3.72 1.19 0.82 1.01 3.88 1.58 2.42 1.55 1.78 0.98 0.74 0.73 FY 2003-04 $2,475.96 2,475.96 1,492.68 1,492.68 1,492.68 $1.49 0.82 1.30 2.38 2.95 1.46 2.58 1 .oo 0.82 0.93 3.48 0.82 1.11 1.32 0.96 1.90 1.15 1.64 1.30 1.15 0.78 0.98 1.48 0.82 2.28 1.06 1.17 0.90 0.97 0.95 1.07 3.75 1.20 0.83 1.02 3.92 1.60 2.44 1.56 1.80 0.99 0.74 0.73 FY 2004-05 $2,511.35 2,511.35 1,514.01 1,514.01 1,514.01 $1.51 0.83 1.32 2.41 3.00 1.48 2.61 1.02 0.83 0.94 3.53 0.83 1.12 1.34 0.97 1.92 1.17 1.67 1.32 1.17 0.79 1 .oo 1.50 0.83 2.31 1.08 1.19 0.92 0.98 0.96 1.08 3.80 1.22 0.84 1.04 3.97 1.62 2.48 1.59 1.82 1 .oo 0.75 0.74 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 2.9%. ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES.