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HomeMy WebLinkAbout2019-07-23; City Council; ; Establish Fiscal Year 2019-20 Special Taxes for Community Facilities District No. 1residential property are provided the option of discharging their future special tax obligation at the time building permits are issued or assuming the special tax liability basis over a 25-year period. The City and property owners of specific vacant land in Carlsbad worked together to form CFD No. 1. The City Council held a public hearing, an election, and subsequently formed CFD No. 1 on May 7, 1991. The initial boundaries included zones with property currently in the development process and provided for annexation into the CFD of property with future development potential (Exhibit 4). It specifically excluded zones 1, 2, 3, 4 and 6. These zones were excluded from the CFD as they were identified as "in-fill" projects only. A current map of the boundaries of the CFD can be found in Exhibit 4. At formation, the idea was that entire zones would annex at one time. This did not happen as projects were annexed at first discretionary approval, excluding a master plan or specific plan. The purpose of the CFD was to establish a funding mechanism that would allow growth management standards to be met. Certain key infrastructure projects were taken out of existing fee programs (Bridge and Thoroughfare District No. 1, Public Facilities Fees and Traffic Impact Fees) and placed into CFD No. 1 as detailed below. These projects were or are now partially funded through the levy of taxes from property within the CFD and partially funded from the existing fee programs for property outside the CFD . CFD No. 1 cannot fund any other projects. Through debt financing or available cash balances, CFD No. 1 has funded or will fund the capital projects listed below: Civic Facilities Dove Library -complete Cole Library Orion Center (Public Works Yard) Civic Center (City Hall) Veterans Memorial Park 1-5 Interchanges Palomar Airport Road -complete La Costa Avenue -complete Poinsettia Lane -complete Road Segments La Costa Avenue -complete Oliven ha in Road -complete Cannon Road -complete Faraday Avenue -complete At.the time of formation, it was determined that the impact of the property within the CFD, both initially and including subsequent anticipated annexations, based on zoning and land use projections, was at the ratio of 65% from residential projects and 35% from non-residential July 23, 2019 Item #7 Page 2 of 23 projects. This relationship and resulting funding requirements were used to establish the initial special tax rates. Since formation, the CFD revenues and expenditures have been accounted for separately utilizing the 65%/35% ratio between residential and non-residential. Review by legal counsel determined that this ratio cannot be changed absent modification proceedings. Pursuant to City Council Policy No. 22, the CFD tax cannot be passed through on property developed with a residential use, instead the tax must be paid off when the building permit is issued. The tax on non-residential developments may be paid off at building permit or it may be paid over a 25-year period as a one-time option of the property owner. In June 1991, the City Council adopted an ordinance establishing the special tax formula and maximum rates for the district. The maximum special 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 by City. The maximum special 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 special tax rates, it did not establish the individual special tax levy placed on each applicable parcel. Each fiscal year, the city establishes the levy based on the funding needs of the next fiscal year. The rates recommended for the fiscal year 2019-20 special tax levy is presented in the Resolution as Attachment A. Attachment A also shows the special tax rate schedule for property included within CFD No. 1 at formation and for property annexed thereafter. The maximum special tax rates reflect an increase of one-half of the ENR inflater of 1.50%, or 0.75%, as described above. Vacant Property Sufficient revenues will be collected from the developed residential category. As such, and consistent with last fiscal year, staff recommends that vacant property planned for future residential development is not levied in the upcoming fiscal year. City Council has not levied this tax since 2003. Sufficient revenues will be collected from the developed commercial/industrial category. As such, and consistent with last fiscal year, staff recommends that vacant property planned for future commercial or industrial development is not levied in the upcoming fiscal year. Residential Property This tax is paid by the property owner when a building permit is issued. It is based on the density ofthe project and the number of units for residential properties. As reflected in Attachment A, there is a recommended change to the percent of the maximum one-time special tax levied at residential building permit issuance on residential development. The percent of the maximum one-time special tax levied at residential building permit issuance is recommended to increase from 55% of the maximum special tax for fiscal year 2018-19 to 65% of the maximum special tax for fiscal year 2019-20. This change is necessary to fund project costs and maintain the allocation of project costs between the residential and commercial/industrial categories of special tax. Pursuant to the rate and method of July 23, 2019 Item #7 Page 3 of 23 apportionment, capital costs are allocated 65% to residential properties and 35% to commercial/industrial properties. It is a coincidence the cost allocation and percentage of maximum special tax share the same percentage this year. Under this recommendation, examples of the one-time residential rates in Improvement Area No. 1 for density up to 4.0 dwelling units per acre are estimated to be as shown below: At the current 2018-19 rate= $3,432 to $4,777 per dwelling unit At 65% of the maximum rate for 2019-20 = $4,086 to $5,731 per dwelling unit (The amount varies depending on the annexation date) Commercial/Industrial Property There are no recommended changes, as reflected in Attachment A, to the percent of the maximum one-time special tax levied at non-residential building permit issuance and is based on the type of development and square feet of development. The percent of the maximum one-time special tax levied at non-residential building permit issuance is recommended to remain constant, at 10% of the maximum special tax for fiscal year 2019-20. 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 over 25 years. According to the CFD documents, the annual special tax on developed property shall not exceed 13.81% of the authorized one-time payoff special tax for commercial and industrial property. This percentage rate was determined based on the average cost of bond financing (11%) plus financing costs. The proposed fiscal year 2019-20 special tax rate for developed property is 7.5% of each property's one-time payoff special tax. This rate remains unchanged from the previous fiscal year. Summary The special tax rates proposed for CFD No. 1 are based on the cash flow requirements needed to fund the remaining projects while maintaining the requirements of each categories' share of the project costs. These cash flow requirements are developed in conjunction with the most recent growth projections for the city and the project schedules as shown in the Capital Improvement Program. The special tax rates are adjusted annually and are expected to fluctuate over time as project cost estimates are updated or projects are completed. An updated CFD No. 1 Project Schedule which shows the current, future and completed projects is included as Exhibit 2 of this staff report. July 23, 2019 Item #7 Page 4 of 23 The table below summarizes the percentage of maximum special tax levy proposed under each property type. Residential Property Com mercia 1/1 ndustria I Property Current Proposed Current Proposed 2018-19 2019-20 2018-19 2019-20 Vacant Land Tax None None None None One-Time Tax 55% of max 65% of max 10% of max 10% of max Developed Annual Tax NA NA 7.5% 7.5% When CFD No. 1 was formed in 1991, the actual special tax rate for residential, commercial and industrial was at 100% of the maximum special tax rate. Beginning in fiscal year 1998-99 the city began to lower the residential special tax rates from 100% of the maximum. During fiscal year 2005-06 the special tax rates reached a low of 30% of the maximum special tax rate. In subsequent fiscal years, the "percentage of max" levied was slowly increased to meet funding requirements. The city began to lower the non-residential special tax rates from 100% of the maximum in fiscal year 2000-01 until achieving the rate of 30% of the maximum starting in fiscal year 2005-06, which was adjusted to 25% in fiscal year 2011-12 and finally to 10% in fiscal year 2016-17. The future percentage of the maximum special tax rates levied could increase or decrease depending on future capital project funding needs, capital project timing, and/or growth projections. A history of the tax rates for CFD No. 1 is included as Exhibit 3 of this Staff Report. Fiscal Analysis Levying the special taxes on parcels within CFD No. 1 has created the necessary cash flow to finance the construction of the 1-5 Interchanges, the Dove Library, La Costa Avenue, Faraday Avenue, and other road projects. The future Orion Center, Veterans Memorial Park, Cole Library, and Civic Center complex are the remaining projects proposed to be funded or partially funded by CFD No. 1. Consistent with the prior fiscal year, vacant property will not be levied for fiscal year 2019-20 if the proposed CFD special tax rates are approved. The revenue generated from the one-time special tax levied at building permit issuance will be determined by the amount of development activity that occurs. The revenue generated from a one-time special tax for residential property, based on growth projections, is estimated to be $618,400 for fiscal year 2019-20. The revenue generated from a one-time special tax for commercial or industrial property, based on growth projections, is estimated to be $27,300 for fiscal year 2019-20. An additional $1,030,000 is anticipated to be collected for fiscal year 2019-20 from the non- residential developed special taxes. The maximum term of this tax is 25 years. July 23, 2019 Item #7 Page 5 of 23 The future percentage of the maximum special tax rates levied could increase or decrease depending on future capital project funding needs, capital project timing, and/or growth projections. Next Steps The CFD No. 1 special tax rates for fiscal year 2019-20 would take effect July 24, 2019. Environmental Evaluation (CEQA) This action is not a "project" under the California Environmental Quality Act (CEQA) per State CEQA Guidelines Section 15378(b)(4) as it is a government fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment. Public Notification This item was noticed in accordance with the Ralph M. Brown Act and was available for public viewing and review at least 72 hours prior to the scheduled meeting date. Exhibits 1. City Council Resolution. 2. CFD No. 1 Project Schedule as of July 1, 2019 3. History of Tax Rates for CFD No. 1 4. Boundary Map of CFD No. 1 July 23, 2019 Item #7 Page 6 of 23 RESOLUTION NO. 2019-131 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, ESTABLISHING THE FISCAL YEAR 2019-20 SPECIAL TAXES FOR COMMUNITY FACILITIES DISTRICT NO. 1. 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 2019-20. 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 specific rate and amount of the special tax to be collected for fiscal year 2019-20 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 as Attachment A. 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. 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 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; July 23, 2019 Item #7 Page 7 of 23 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. 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. 6. All monies above collected shall be paid into the Community Facilities District funds, including any bond fund and reserve fund. 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. 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 at a Regular Meeting of the City Council of the City of Carlsbad on the 23rd day of July, 2019, by the following vote, to wit: AYES: NAYS: ABSENT: Hall, Blackburn, Bhat-Patel, Schumacher, Hamilton. None. None. July 23, 2019 Item #7 Page 8 of 23 PROPERTY TYPE TAX RATE IMPROVEMENT AREA I: RESIDENTIAL (PER ACRE) RL RLM RM RMH RH NON-RESIDENTIAL (PER ACRE) COMMERCIAL INDUSTRIAL PROPERTY TYPE TAX RATE IMPROVEMENT AREA II: RESIDENTIAL (PER ACRE) RL RLM RM RMH RH NON-RESIDENTIAL (PER ACRE) COMMERCIAL INDUSTRIAL CITY OF CARLSBAD COMMUNITY FACILITES DISTRICT NO. 1 TAX RATES FOR FISCAL YEAR 2019-20 MAXIMUM UNDEVELOPED PROPERTY TAX FORMATION OR ANNEXATION DATE MAY?, 1991 FY 1993-94 FY 1994-95 FY 1995-96 FY 1996-97 $397 $411 $415 $415 $416 1,090 1,129 1,141 1,141 1,142 1,827 1,893 1,913 1,913 1,915 2,801 2,902 2,933 2,933 2,936 3,944 4,085 4,129 4,129 4,133 $3,389 $3,510 $3,548 $3 ,548 $3,552 1,694 1,755 1,774 1,774 1,776 FORMATION OR ANNEXATION DATE MAY 7, 1991 FY 1993-94 FY 1994-95 FY 1995-96 FY 1996-97 $391 $405 $410 $410 $410 1,073 1,112 1,124 1,124 1,125 1,718 1,780 1,799 1,799 1,801 2,638 2,732 2,762 2,762 . 2,764 3,868 4,006 4,049 4,049 4,053 $2,259 $2,340 $2,365 $2,365 $2,368 1,356 1,404 1,419 1,419 1,421 ATTACHMENT A Page 1 FY 1997-98 FY 1998-99 $418 $421 1,149 1,156 1,926 1,938 2,954 2,971 4,1 58 4,183 $3,573 $3,594 1,786 1,797 FY 1997-98 FY 1998-99 $412 $415 1,131 1,138 1,812 1,823 2,781 2,798 4,078 4,102 $2,382 $2,396 1,429 1,438 NOTE: ACTUAL TAX RATES FOR UNDEVELOPED PROPERTY FOR FISCAL YEAR 2019-20 ARE HEREIN ESTABLISHED AT $0 PER ACRE. TAX RATES FOR FISCAL YEAR 2019-20 ANNUAL NON-RESIDENTIAL TAX -DEVELOPED PROPERTY % OF ONE-TIME SPECIAL TAX 2019-20 MAXIMUM PERCENTAGE 13.81 % 2019-20 ACTUAL PERCENTAGE 7.50% 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 1.5%. ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES. ~ n :::c s: m z -t l> July 23, 2019 Item #7 Page 9 of 23 PROPERTY TYPE TAX RA TE IMPROVEMENT AREA I: RESIDENTIAL (PER ACRE) RL RLM RM RMH RH NON-RESIDENTIAL (PER ACRE) COMMERCIAL INDUSTRIAL PROPERTY TYPE TAX RATE IMPROVEMENT AREA II: RESIDENTIAL (PER ACRE) RL RLM RM RMH RH NON-RESIDENTIAL (PER ACRE) COMMERCIAL INDUSTRIAL CITY OF CARLSBAD COMMUNITY FACILITES DISTRICT NO. 1 TAX RATES FOR FISCAL YEAR 2019-20 MAXIMUM UNDEVELOPED PROPERTY TAX FORMATION OR ANNEXATION DATE FY 1999-00 FY 2000-01 FY 2001-02 FY 2002-03 FY 2003-04 $426 $433 $439 $443 $447 1,169 1,188 1,206 1,218 1,229 1,960 1,992 2,021 2,041 2,059 3,005 3,054 3,099 3,130 3,158 4,230 4,299 4,363 4,406 4,445 $3,635 $3,694 $3,749 $3 ,786 $3,820 1,818 1,847 1,874 1,893 1,910 FORMATION OR ANNEXATION DATE FY 1999-00 FY 2000-01 FY 2001-02 FY 2002-03 FY 2003-04 $420 $426 $433 $437 $441 1,151 1,170 1,187 1,199 1,210 1,843 1,873 1,901 1,920 1,937 2,829 2,875 2,918 2,947 2,973 4,149 4,216 4,278 4,321 4,359 $2,423 -$2,463 $2,499 $2,524 $2,546 1,454 1,478 1,499 1,514 1,528 ATTACHMENT A Page 2 FY 2004-05 FY 2005-06 $454 $467 1,246 1,284 2,089 2,153 3,203 3,300 4,509 4,646 $3,874 $3,993 1,937 1,996 FY 2004-05 FY 2005-06 $447 $461 1,227 1,264 1,965 2,025 3,015 3,108 4,421 4,556 $2,583 $2,662 1,550 1,597 NOTE: ACTUAL TAX RATES FOR UNDEVELOPED PROPERTY FOR FISCAL YEAR 2019-20 ARE HEREIN ESTABLISHED AT $0 PER ACRE. July 23, 2019 Item #7 Page 10 of 23 PROPERTY TYPE TAX RA TE IMPROVEMENT AREA I: RESIDENTIAL (PER ACRE) RL RLM RM RMH RH NON-RESIDENTIAL (PER ACRE) COMMERCIAL INDUSTRIAL PROPERTY TYPE TAX RATE IMPROVEMENT AREA II: RESIDENTIAL (PER ACRE) RL RLM RM RMH RH NON-RESIDENTIAL (PER ACRE) COMMERCIAL INDUSTRIAL CITY OF CARLSBAD COMMUNITY FACILITES DISTRICT NO. 1 TAX RATES FOR FISCAL YEAR 2019-20 MAXIMUM UNDEVELOPED PROPERTY TAX FORMATION OR ANNEXATION DATE FY 2006-07 FY 2007-08 FY 2008-09 FY 2009-10 FY2010-11 $475 $484 $493 $508 $500 1,306 1,330 1,354 1,396 1,375 2,190 2,229 2,270 2,340 2,305 3,357 3,418 3,480 3,588 3,534 4,726 4,812 4,899 5,051 4,974 $4,061 $4,135 $4,210 $4,341 $4,275 2,031 2,067 2,105 2,170 2,137 FORMATION OR ANNEXATION.DATE FY 2006-07 FY 2007-08 FY 2008-09 FY 2009-10 FY 2010-11 $469 $477 $486 $501 $493 1,286 1,309 1,333 1,375 1,354 2,059 2,097 2,135 2,201 2,168 3,161 3,218 3,277 3,378 3,327 4,635 4,719 4,805 4,954 4,878 $2,707 $2,757 $2,807 $2,894 $2,850 1,624 1,654 1,684 1,736 1,710 ATTACHMENT A Page 3 FY2011-12 FY2012-13 $507 $513 1,394 1,410 2,337 2,364 3,582 3,625 5,043 5,103 $4,334 $4,385 2,167 2,192 FY2011-12 FY 2012-13 $500 $506 1,372 1,389 2,197 2,224 3,373 3,413 4,946 5,004 $2,889 $2,923 1,733 1,754 NOTE: ACTUAL TAX RATES FOR UNDEVELOPED PROPERTY FOR FISCAL YEAR 2019-20 ARE HEREIN ESTABLISHED AT $0 PER ACRE. July 23, 2019 Item #7 Page 11 of 23 PROPERTY TYPE TAX RATE IMPROVEMENT AREA I: RESIDENTIAL (PER ACRE) RL RLM RM RMH RH NON-RESIDENTIAL (PER ACRE) COMMERCIAL INDUSTRIAL PROPERTY TYPE TAX RATE IMPROVEMENT AREA II: RESIDENTIAL (PER ACRE) RL RLM RM RMH RH NON-RESIDENTIAL (PER ACRE) COMMERCIAL INDUSTRIAL CITY OF CARLSBAD COMMUNITY FACILITES DISTRICT NO. 1 TAX RATES FOR FISCAL YEAR 2019-20 MAXIMUM UNDEVELOPED PROPERTY TAX FORMATION OR ANNEXATION DATE FY 2013-14 FY 2014-15 FY 2015-16 FY 2016-17 FY 2017-18 $513 $524 $530 $534 $546 1,410 1,440 1,457 1,468 1,499 2,364 2,414 2,443 2,461 2,513 3,625 3,701 3,745 3,773 3,852 5,103 5,210 5,272 5,311 5,423 $4,385 $4,477 $4,530 $4,564 $4,660 2,192 2,239 2,265 2,282 2,330 FORMATION OR ANNEXATION DATE FY 2013-14 FY 2014-15 FY 2015-16 FY 2016-17 FY 2017-18 $506 $517 $523 $527 $538 1,389 1,418 1,435 1,445 1,476 2,224 2,270 2,297 2,314 2,363 3,413 3,485 3,526 3,552 3,627 5,004 5,110 5,170 5,209 5,318 $2,923 $2,985 $3,020 $3,043 $3,107 1,754 1,791 1,812 1,826 1,864 ATTACHMENT A Page 4 - FY 2018-19 FY 2019-20 $552 $556 1,518 1,529 2,544 2,563 3,900 3,929 5,490 5,531 $4,718 $4,753 2,359 2,376 FY 2018-19 FY 2019-20 $544 $549 1,494 1,505 2,392 2,410 3,672 3,699 5,384 5,424 $3,145 $3,168 1,887 1,901 NOTE: ACTUAL TAX RATES FOR UNDEVELOPED PROPERTY FOR FISCAL YEAR 2019-20 ARE HEREIN ESTABLISHED AT $0 PER ACRE. July 23, 2019 Item #7 Page 12 of 23 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 TAX RATES FOR FISCAL YEAR 2019-20 SPECIAL DEVELOPMENT TAX ONE-TIME PROPERTY TYPE FORMATION OR ANNEXATION DATE TAX RATE IMPROVEMENT AREA I: MAY 7, 1991 FY 1993-94 FY 1994-95 RESIDENTIAL (PER DWELLING UNIT) (65% of/he Maximum Tax) 0 -1.5 DU /ACRE $4,086.08 $4,232.25 $4,278.30 1.51 -4.0 DU/ACRE 4,086.08 4,232.25 4,278.30 4.1 -8.0 DU/ACRE 2,579.04 2,671.30 2,700.36 8.1 -15.0 DU/ACRE 2,579.04 2,671.30 2,700.36 15.1 -23.0 DU/ACRE 2,579.04 2,671.30 2,700.36 NON-RESIDENTIAL (PER SQ.FT.) (10% of the Maximum Tax) AUTO -GASOLINE $1 .15 $1 .19 $1.20 AUTO -REPAIR & SALES 0.48 0.50 0.50 AUTO CAR WASH 0.89 0.92 0.93 BANK-WALK IN 1.81 1.88 1.90 BANK -WITH DRIVE THRU 2.55 2.64 2.67 BOWLING ALLEY 0.94 0.97 0.98 CAMPGROUND 2.47 2.56 2.59 CHURCH 0.42 0.44 0.44 COMMERCIAL SHOPS 0.41 0.42 0.43 COMMUNITY SHOPPING CENTER 0.60 0.62 0.63 CONVENIENCE MARKET 3.86 3.99 4.04 DISCOUNT STORE 0.45 0.47 0.48 GOLF COURSE 0.43 0.45 0.45 GROCERY STORE 1.10 1.14 1.15 HEALTH CLUB 0.41 0.42 0.43 HELIPORTS 1.50 1.55 1.57 HOSPITAL-CONVALESCENT 0.33 0.34 0.34 HOSPITAL -GENERAL 0.55 0.57 0.57 HOTEL-CONV. FAC/COMM. 0.49 0.51 0.51 INDOOR SPORTS ARENA 0.33 0.34 0.34 INDUSTRIAL -COMMERCIAL BUSINESS PARK 0.30 0.31 0.32 JUNIOR COLLEGE 0.31 0.32 0.32 LIBRARY 0.60 0.62 0.63 LUMBER/HARDWARE STORE 0.35 0.36 0.37 MARINA 2.10 2.17 2.20 MOTEL 0.38 0.39 0.40 NEIGHBORHOOD SHOPPING CENTER 0.91 0.94 0.96 OFFICE -COMMERCIAL(< 100,000 SF) 0.36 0.37 0.38 OFFICE -GOVERNMENT 0.41 0.43 0.43 OFFICE -HIGH RISE 0.38 0.39 0.39 OFFICE -MEDICAL 0.34 0.35 0.36 OUTDOOR TENNIS COURT 3.97 4.12 4.16 RACETRACK 0.72 0.75 0.75 REGIONAL SHOPPING CENTER 0.47 0.49 0.50 RESORT HOTEL 0.32 0.34 0.34 RESTAURANT -FAST FOOD 4.02 4.16 4.21 RESTAURANT -QUALITY 0.93 0.96 0.97 RESTAURANT-SIT DOWN 2.14 2.22 2.24 S & L-WALK IN ' 0.78 0.81 0.81 S & L -WITH DRIVE THRU 1.07 1.11 1.12 UNIVERSITY 0.32 0.33 0.33 ALL OTHER COMMERCIAL USES NOT IDENTIFIED ABOVE 0.30 0.31 0.32 ALL OTHER INDUSTRIAL USES NOT IDENTIFIED ABOVE 0.25 0.25 0.26 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 1.5%. ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES. FY 1995-96 FY 1996-97 $4,278.30 $4,282.57 4,278.30 4,282.57 2,700.36 2,703.06 2,700.36 2,703.06 2,700.36 2,703.06 $1.20 $1.20 0.50 0.50 0.93 0.93 1.90 1.90 2.67 2.67 0.98 0.98 2.59 2.59 0.44 0.44 0.43 0.43 0.63 0.63 4.04 4.04 0.48 0.48 0.45 0.45 1.15 1.15 0.43 0.43 1.57 1.57 0.34 0.34 0.57 0.57 0.51 0.51 0.34 0.34 0.32 0.32 0.32 0.32 0.63 0.63 0.37 0.37 2.20 2.20 0.40 0.40 0.96 0.96 0.38 0.38 0.43 0.43 0.39 0.40 0.36 0.36 4.16 4.16 0.75 0.75 0.50 0.50 0.34 0.34 4.21 4.21 0.97 0.97 2.24 2.25 0.81 0.82 1.12 1.12 0.33 0.33 0.32 0.32 0.26 0.26 ATTACHMENT A Page 5 FY 1997-98 FY 1998-99 $4,308.12 $4,333.81 4,308.1"2 4,333.81 2,719.18 2,735.40 2,719.18 2,735.40 2,719.18 2,735.40 $1.21 $1.21 0.51 0.51 0.94 0.94 1.91 1.92 2.69 2.70 0.99 0.99 2.61 2.62 0.45 0.45 0.43 0.43 0.63 0.63 4.07 4.09 0.48 0.48 0.46 0.46 1.16 1.17 0.43 0.43 1.58 1.59 0.35 0.35 0.58 0.58 0.52 0.52 0.35 0.35 0.32 0.32 0.33 0.33 0.63 0.64 0.37 0.37 2.21 2.22 0.40 0.40 0.96 0.97 0.38 0.38 0.44 0.44 0.40 0.40 0.36 0.36 4.19 4.21 0.76 0.76 0.50 0.50 0.34 0.34 4.24 4.26 0.98 0.98 2.26 2.27 0.82 0.83 1.13 1.14 0.34 0.34 0.32 0.32 0.2_6 0.26 July 23, 2019 Item #7 Page 13 of 23 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 TAX RATES FOR FISCAL YEAR 2019-20 SPECIAL DEVELOPMENT TAX ONE-TIME PROPERTY TYPE FORMATION OR ANNEXATION DATE TAX RATE IMPROVEMENT AREA I: FY 1999-00 FY 2000-01 FY 2001-02 RESIDENTIAL (PER DWELLING UNIT) (65% of the Maximum Tax) 0-1.5 DU /ACRE $4,383.08 $4,454.23 $4,520.06 1.51 -4.0 DU/ACRE 4,383.08 4,454.23 4,520.06 4.1 -8.0 DU/ACRE 2,766.50 2,811.41 2,852.95 8.1 -15.0 DU/ACRE 2,766.50 2,811.41 2,852.95 15.1 -23.0 DU/ACRE 2,766.50 2,811.41 2,852.95 NON-RESIDENTIAL (PER SQ.FT.) (10% of the Maximum Tax) AUTO -GASOLINE $1 .23 $1.25 $1.27 AUTO -REPAIR & SALES 0.52 0.52 0.53 AUTO CAR WASH 0.96 0.97 0.99 BANK -WALK IN 1.94 1.97 2.00 BANK -WITH DRIVE THRU 2.74 2.78 2.82 BOWLING ALLEY 1.00 1.02 1.04 CAMPGROUND 2.65 2.70 2.74 CHURCH 0.45 0.46 0.47 COMMERCIAL SHOPS 0.44 0.45 0.45 COMMUNITY SHOPPING CENTER 0.64 0.65 0.66 CONVENIENCE MARKET 4.14 4.20 4.27 DISCOUNT STORE 0.49 0.50 0.50 GOLF COURSE 0.46 0.47 0.48 GROCERY STORE 1.18 1.20 1.22 HEALTH CLUB 0.44 0.44 0.45 HELIPORTS 1.61 1.64 1.66 HOSPITAL -CONVALESCENT 0.35 0.36 0.36 HOSPITAL-GENERAL 0.59 0.60 0.61 HOTEL -CONV. FAC/COMM. 0.53 0.53 0.54 INDOOR SPORTS ARENA 0.35 0.36 0.36 INDUSTRIAL -COMMERCIAL BUSINESS PARK 0.32 0.33 0.33 JUNIOR COLLEGE 0.33 0.34 0.34 LIBRARY 0.65 0.66 0.67 LUMBER/HARDWARE STORE 0.37 0.38 0.39 MARINA 2.25 2.29 2.32 MOTEL 0.41 0.41 0.42 NEIGHBORHOOD SHOPPING CENTER 0.98 0.99 1.01 OFFICE -COMMERCIAL (< 100,000 SF) 0.39 0.39 0.40 OFFICE -GOVERNMENT 0.44 0.45 0.46 OFFICE -HIGH RISE 0.40 0.41 0.42 OFFICE -MEDICAL 0.37 0.37 0.38 OUTDOOR TENNIS COURT 4.26 4.33 4.40 RACE TRACK 0.77 0.79 0.80 REGIONAL SHOPPING CENTER 0.51 0.52 0.52 RESORT HOTEL 0.35 0.35 0.36 RESTAURANT -FAST FOOD 4.31 4.38 4.45 RESTAURANT -QUALITY 1.00 1.01 1.03 RESTAURANT-SIT DOWN 2.30 2.34 2.37 S & L-WALK IN 0.83 0.85 0.86 S & L -WITH DRIVE THRU 1.15 1.17 1.19 UNIVERSITY 0.34 0.35 0.35 ALL OTHER COMMERCIAL USES NOT IDENTIFIED ABOVE 0.32 0.33 0.33 ALL OTHER INDUSTRIAL USES NOT IDENTIFIED ABOVE 0.26 0.27 0.27 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 1.5%. ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES. FY 2002-03 FY 2003-04 $4,564.81 $4,605.53 4,564.81 4,605.53 2,881 .20 2,906.90 2,881 .20 2,906.90 2,881 .20 2,906.90 $1.28 $1 .29 0.54 0.54 1.00 1.00 2.02 2.04 2.85 2.87 1.05 1.06 2.76 2.79 0.47 0.48 0.46 0.46 0.67 0.67 4.31 4.35 0.51 0.51 0.48 0.49 1.23 1.24 0.46 0.46 1.68 1.69 0.37 0.37 0.61 0.62 0.55 0.55 0.37 0.37 0.34 0.34 0.35 0.35 0.67 0.68 0.39 0.39 2.34 2.36 0.42 0.43 1.02 1.03 0.40 0.41 0.46 0.47 0.42 0.42 0.38 0.39 4.44 4.48 0.80 0.81 0.53 0.53 0.36 0.37 4.49 4.53 1.04 1.05 2.39 2.41 0.87 0.88 1.20 1.21 0.36 0.36 0.34 0.34 0.27 0.28 ATTACHMENT A Page6 FY 2004-05 FY 2005-06 $4,671 .35 $4,814.00 4,671 .35 4,814.00 2,948.45 3,038.49 2,948.45 3,038.49 2,948.45 3,038.49 $1.31 $1.35 0.55 0.57 1.02 1.05 2.07 2.13 2.92 3.00 1.07 1.10 2.83 2.91 0.48 0.50 0.47 0.48 0.68 0.71 4.41 4.54 0.52 0.54 0.49 0.51 1.26 1.29 0.47 0.48 1.72 1.77 0.38 0.39 0.63 0.65 0.56 0.58 0.38 0.39 0.35 0.36 0.35 0.36 0.69 0.71 0.40 0.41 2.40 2.47 0.43 0.45 1.04 1.07 0.41 0.43 0.47 0.49 0.43 0.44 0.39 0.40 4.54 4.68 0.82 0.85 0.54 0.56 · 0.37 0.38 4.59 4.73 1.06 1.09 2.45 2.52 0.89 0.92 1.23 1.26 0.36 0.38 0.35 0.36 0.28 0.29 July 23, 2019 Item #7 Page 14 of 23 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 TAX RATES FOR FISCAL YEAR 2019-20 SPECIAL DEVELOPMENT TAX ONE-TIME PROPERTY TYPE FORMATION OR ANNEXATION DATE TAX RATE IMPROVEMENT AREA I: FY 2006-07 FY 2007-08 FY 2008-09 RESIDENTIAL (PER DWELLING UNIT) (65% of the Maximum Tax) 0 -1.5 DU /ACRE $4,896.80 $4,985.75 $5,076.31 1.51 -4.0 DU/ACRE 4,896.80 4,985.75 5,076.31 4.1 -8.0 DU/ACRE 3,090.75 3,146.89 3,204.05 8.1 -15.0 DU/ACRE 3,090.75 3,146.89 3,204.05 15.1 -23.0 DU/ACRE 3,090.75 3,146.89 3,204.05 NON-RESIDENTIAL (PER SQ.FT.) (10% of the Maximum Tax) AUTO -GASOLINE $1.37 $1.40 $1.42 AUTO -REPAIR & SALES 0.58 0.59 0.60 AUTO CAR WASH 1.07 1.09 1.11 BANK -WALK IN 2.17 2.21 2.25 BANK -WITH DRIVE THRU 3.06 3.11 3.17 BOWLING ALLEY 1.12 1.14 1.16 CAMPGROUND 2.96 3.02 3.07 CHURCH 0.51 0.52 0.52 COMMERCIAL SHOPS 0.49 0.50 0.51 COMMUNITY SHOPPING CENTER 0.72 0.73 0.74 CONVENIENCE MARKET 4.62 4.71 4.79 DISCOUNT STORE 0.54 0.55 0.56 GOLF COURSE 0.52 0.53 0.54 GROCERY STORE 1.32 1.34 1.36 HEALTH CLUB 0.49 0.50 0.51 HELIPORTS 1.80 1.83 1.86 HOSPITAL -CONVALESCENT 0.39 0.40 0.41 HOSPITAL -GENERAL 0.66 0.67 0.68 HOTEL -CONV. FAG/COMM. 0.59 0.60 0.61 INDOOR SPORTS ARENA 0.39 0.40 0.41 INDUSTRIAL -COMMERCIAL BUSINESS PARK 0.36 0.37 0.38 JUNIOR COLLEGE 0.37 0.38 0.38 LIBRARY 0.72 0.73 0.75 LUMBER/HARDWARE STORE 0.42 0.43 0.43 MARINA 2.51 2.56 2.60 MOTEL 0.46 0.46 0.47 NEIGHBORHOOD SHOPPING CENTER 1.09 1.11 1.13 OFFICE -COMMERCIAL (< 100,000 SF) 0.43 0.44 0.45 OFFICE -GOVERNMENT 0.50 0.50 0.51 OFFICE -HIGH RISE 0.45 0.46 0.47 OFFICE -MEDICAL 0.41 0.42 0.42 OUTDOOR TENNIS COURT 4.76 4.85 4.94 RACETRACK 0.86 0.88 0.89 REGIONAL SHOPPING CENTER 0.57 0.58 0.59 RESORT HOTEL 0.39 0.40 0.40 RESTAURANT-FAST FOOD 4.82 4.90 4.99 RESTAURANT -QUALITY 1.11 1.13 1.15 RESTAURANT -SIT DOWN 2.57 2.61 2.66 S & L-WALK IN 0.93 0.95 0.97 S & L -WITH DRIVE THRU 1.28 1.31 1.33 UNIVERSITY 0.38 0.39 0.40 ALL OTHER COMMERCIAL USES NOT IDENTIFIED ABOVE 0.36 0.37 0.38 ALL OTHER INDUSTRIAL USES NOT IDENTIFIED ABOVE 0.29 0.30 0.31 NOTES: TAX RATE AREA I INCLUDES PROPERTY WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO. 1. TAX RATE AREA II EXCLUDES PRO_PERTY WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO. 1. ENGINEERING NEWS RECORD INFLATION RATE WAS 1.5%. ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES. FY 2009-10 FY 2010-11 $5,233.71 $5,154.01 5,233.71 . 5,154.01 3,303.40 3,253.09 3,303.40 3,253.09 3,303.40 3,253.09 $1.47 $1.44 0.62 0.61 _1.14 1.12 2.32 2.29 3.27 3.22 1.20 1.18 3.17 3.12 0.54 0.53 0.52 0.52 0.77 0.76 4.94 4.86 0.58 0.57 0.55 0.55 1.41 1.39 0.52 0.51 1.92 1.89 0.42 0.41 0.70 0.69 0.63 0.62 0.42 0.41 0.39 0.38 0.40 0.39 0.77 0.76 0.45 0.44 2.69 2.64 0.49 0.48 1.17 1.15 0.46 0.46 0.53 0.52 0.48 0.48 0.44 0.43 5.09 5.01 0.92 0.91 0.61 0.60 0.42 0.41 5.15 5.07 1.19 1.17 2.74 2.70 1.00 0.98 1.37 1.35 0.41 0.40 0.39 0.38 0.31 0.31 ATTACHMENT A Page 7 FY2011-12 FY 2012-13 $5,225.17 $5,287.13 5,225.17 5,287.13 3,298.01 3,337.11 3,298.01 3,337.11 3,298.01 3,337.11 $1.46 $1.48 0.62 0.62 1.14 1.15 2.32 2.34 3.26 3.30 1.20 1.21 3.16 3.20 0.54 0.55 0.52 0.53 0.77 0.77 4.93 4.99 0.58 0.59 0.55 0.56 1.40 1.42 0.52 0.53 1.92 1.94 0.42 0.43 0.70 0.71 0.63 0.63 0.42 0.43 0.39 0.39 0.40 0.40 0.77 0.78 0.45 0.45 2.68 2.71 0.49 0.49 1.17 1.18 0.46 0.47 0.53 0.54 0.48 0.49 0.44 0.44 5.08 5.14 0.92 0.93 0.60 0.61 0.42 0.42 5.14 5.20 1.19 1.20 2.74 2.77 0.99 1.01 1.37 1.39 0.41 0.41 0.39 0.39 0.31 0.32 July 23, 2019 Item #7 Page 15 of 23 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 TAX RATES FOR FISCAL YEAR 2019-20 SPECIAL DEVELOPMENT TAX ONE-TIME PROPERTY TYPE FORMATION OR ANNEXATION DATE TAX RATE IMPROVEMENT AREA I: FY 2013-14 FY 2014-15 FY 2015-16 RESIDENTIAL {PER DWELLING UNIT) (65% of the Maximum Tax) 0 -1.5 DU /ACRE $5,287.13 $5,398.41 $5,462.42 1.51 -4.0 DU/ACRE 5,287.13 5,398.41 5,462.42 4.1 -8.0 DU/ACRE 3,337.11 3,407.35 3,447.76 8.1 -15.0 DU/ACRE 3,337.11 3,407.35 3,447.76 15.1 -23.0 DU/ACRE 3,337.11 3,407.35 3,447.76 NON-RESIDENTIAL (PER SQ.FT.) (10% of the Maximum Tax) AUTO -GASOLINE $1.48 $1 .51 $1.53 AUTO -REPAIR & SALES 0.62 0.64 0.64 AUTO CAR WASH 1.15 1.18 1.19 BANK -WALK IN 2.34 2.39 2.42 BANK -WITH DRIVE THRU 3.30 3.37 3.41 BOWLING ALLEY 1.21 1.24 1.25 CAMPGROUND 3.20 3.27 3.31 CHURCH 0.55 0.56 0.56 COMMERCIAL SHOPS 0.53 0.54 0.55 COMMUNITY SHOPPING CENTER 0.77 0.79 0.80 CONVENIENCE MARKET 4.99 5.09 5.16 DISCOUNT STORE 0.59 0.60 0.61 GOLF COURSE 0.56 0.57 0.58 GROCERY STORE 1.42 1.45 1.47 HEALTH CLUB 0.53 0.54 0.55 HELIPORTS 1.94 1.98 2.01 HOSPITAL-CONVALESCENT 0.43 0.43 0.44 HOSPITAL -GENERAL 0.71 0.72 0.73 HOTEL -CONV. FAC/COMM. 0.63 0.65 0.66 INDOOR SPORTS ARENA 0.43 0.43 0.44 INDUSTRIAL -COMMERCIAL BUSINESS PARK 0.39 0.40 0.40 JUNIOR COLLEGE 0.40 0.41 0.41 LIBRARY 0.78 0.79 0.80 LUMBER/HARDWARE STORE 0.45 0.46 0.47 MARINA 2.71 2.77 2.80 MOTEL 0.49 0.50 0.51 NEIGHBORHOOD SHOPPING CENTER 1.18 1.21 1.22 OFFICE -COMMERCIAL(< 100,000 SF) 0.47 0.48 0.48 OFFICE -GOVERNMENT 0.54 0.55 0.55 OFFICE -HIGH RISE 0.49 0.50 0.50 OFFICE -MEDICAL 0.44 0.45 0.46 OUTDOOR TENNIS COURT 5.14 5.25 5.31 RACE TRACK 0.93 0.95 0.96 REGIONAL SHOPPING CENTER 0.61 0.62 0.63 RESORT HOTEL 0.42 0.43 0.43 RESTAURANT -FAST FOOD 5.20 5.31 5.37 RESTAURANT -QUALITY 1.20 1.23 1.24 RESTAURANT -SIT DOWN 2.77 2.83 2.86 S & L-WALK IN 1.01 1.03 1.04 S & L -WITH DRIVE THRU 1.39 1.42 1.43 UNIVERSITY 0.41 . 0.42 0.43 ALL OTHER COMMERCIAL USES NOT IDENTIFIED ABOVE 0.39 0.40 0.40 ALL OTHER INDUSTRIAL USES NOT IDENTIFIED ABOVE 0.32 0.32 0.33 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 1.5%. ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES. FY 2016-17 FY 2017-18 $5,503.09 $5,618.91 5,503.09 5,618.91 3,473.42 3,546.53 3,473.42 3,546.53 3,473.42 3,546.53 $1.54 $1.57 0.65 0:66 1.20 1.23 2.44 2.49 3.43 3.51 1.26 1.29 . 3.33 3.40 0.57 0.58 0.55 0.56 0.81 0.82 5.19 5.30 0.61 0.63 0.58 0.59 1.48 1.51 0,55 0.56 2.02 2.06 0.44 0.45 0.74 0.75 0.66 0.67 0.44 0.45 0.41 0.42 0.42 0.43 0.81 0.83 0.47 0.48 2.82 2.88 0.51 0.52 1.23 1.25 0.49 0.50 0.56 0.57 0.51 0.52 0.46 0.47 5.35 5.46 0.97 0.99 0.64 0.65 0.44 0.45 5.41 5.53 1.25 1.28 2.88 2.95 1.05 1.07 1.44 1.47 0.43 0.44 0.41 0.42 0.33 0.34 ATTACHMENT A Page 8 FY 2018-19 FY 2019-20 $5,688.28 $5,730.63 5,688.28 5,730.63 3,590.31 3,617.04 3,590.31 . 3,617.04 3,590.31 3,617.04 $1.59 $1.61 0.67 0.68 1.24 1.25 2.52 2.54 3.55 3.58 1.30 1.31 3.44 3.47 0.59 0.59 0.57 0.57 0.83 0.84 5.37 5.41 0.63 0.64 0.60 0.61 1.53 1.54 0.57 0.57 2.09 2.11 0.46 0.46 0.76 0.77 0.68 0.69 0.46 0.46 0.42 0.42 0.43 0.43 0.84 0.84 0.49 0.49 2.92 2.94 0.53 0.53 1.27 1.28 0.50 0.51 0.58 0.58 0.52 0.53 0.48 0.48 5.53 5.57 1.00 1.01 0.66 0.66 0.45 0.46 5.59 5.64 1.29 1.30 2.98 3.00 1.08 1.09 1.49 1.50 0.44 0.45 0.42 0.42 0.34 0.34 July 23, 2019 Item #7 Page 16 of 23 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 TAX RATES FOR FISCAL YEAR 2019-20 SPECIAL DEVELOPMENT TAX ONE-TIME PROPERTY TYPE FORMATION OR ANNEXATION DATE TAX RA TE IMPROVEMENT AREA II: MAY7,1991 FY 1993-94 FY 1994-95 RESIDENTIAL (PER DWELLING UNIT) (65% of the Maximum Tax) 0 -1.5 DU /ACRE $3,519.79 $3,645.71 $3,685.37 1.51 -4.0 DU/ACRE 3,519.79 3,645.71 3,685.37 4.1 -8.0 DU/ACRE 2,121.97 2,197.88 2,221.79 8.1 -15.0 DU/ACRE 2,121.97 2,197.88 2,221.79 15.1 -23.0 DU/ACRE 2,121.97 2,197.88 2,221.79 NON-RESIDENTIAL (PER SQ.FT.) (10% of the Maximum Tax) AUTO-GASOLINE $0.41 $0.42 $0.43 AUTO -REPAIR & SALES 0.22 0.23 0.23 AUTO CAR WASH 0.36 0.37 0.37 BANK -WALK IN 0.65 0.67 0.68 BANK-WITH DRIVE THRU 0.81 0.84 0.85 BOWLING ALLEY 0.40 0.41 0.42 CAMPGROUND 0.70 0.73 0.74 CHURCH 0.27 0.28 0.29 COMMERCIAL SHOPS 0.22 0.23 0.23 COMMUNITY SHOPPING CENTER 0.25 0.26 0.27 CONVENIENCE MARKET 0.95 0,99 1.00 DISCOUNT STORE 0.22 0.23 0.23 GOLF COURSE 0.30 0.31 0.32 GROCERY STORE 0.36 0.37 0.38 HEALTH CLUB 0.26 0.27 0.27 HELIPORTS 0.52 0.54 0.54 HOSPITAL -CONVALESCENT 0.31 0.33 0.33 HOSPITAL-GENERAL 0.45 0.47 0.47 HOTEL -CONV. FAG/COMM. 0.36 0.37 0.37 INDOOR SPORTS ARENA 0.31 0.33 0.33 INDUSTRIAL -COMMERCIAL BUSINESS PARK 0.21 . 0.22 0.22 JUNIOR COLLEGE 0.27 0.28 0.28 LIBRARY 0.40 0.42 0.42 LUMBER/HARDWARE STORE 0.22 0.23 0.23 MARINA 0.62 0.64 0.65 MOTEL 0.29 0.30 0.30 NEIGHBORHOOD SHOPPING CENTER 0.32 0.33 0.34 OFFICE -COMMERCIAL(< 100,000 SF) 0.25 0.26 0.26 OFFICE -GOVERNMENT 0.27 0.27 0.28 OFFICE -HIGH RISE 0.26 0.27 0.27 OFFICE -MEDICAL 0.29 0.30 0.31 OUTDOOR TENNIS COURT 1.03 1.06 1.07 RACETRACK 0.33 0.34 0.34 REGIONAL SHOPPING CENTER 0.23 0.24 0.24 RESORT HOTEL 0.28 0.29 0.29 RESTAURANT-FAST FOOD 1.07 1.11 1.12 RESTAURANT -QUALITY 0.44 0.45 0.46 RESTAURANT -SIT DOWN 0.67 0.69 0.70 S & L-WALKIN 0.43 0.44 0.45 S & L -WITH DRIVE THRU 0.49 0.51 0.51 UNIVERSITY 0.27 0.28 0.28 ALL OTHER COMMERCIAL USES NOT IDENTIFIED ABOVE 0.20 0.21 0.21 ALL OTHER INDUSTRIAL USES NOT IDENTIFIED ABOVE 0.20 0.21 0.21 NOTES: TAX RATE AREA I INCLUDES PROPERTY WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO. 1. TAX RATE AREA 11 EXCLUDES PROPERTY WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO. 1. ENGINEER.ING NEWS RECORD INFLATION RATE WAS 1.5%. ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES. FY 1995-96 FY 1996-97 $3,685.37 $3,689.05 3,685.37 3,689.05 2,221.79 2,224.01 2,221.79 2,224.01 2,221.79 2,224.01 $0.43 $0.43 0.23 0.23 0.37 0.37 0.68 0.68 0.85 0.85 0.42 0.42 0.74 0.74 0.29 0.29 0.23 0.23 0.27 0.27 1.00 1.00 0.23 0.23 0.32 0.32 0.38 0.38 0.27 0.27 0.54 0.54 0.33 0.33 0.47 0.47 0.37 0.37 0.33 0.33 0.22 0.22 0.28 0.28 0.42 0.42 0.23 0.23 0.65 0.65 0.30 0.30 0.34 0.34 0.26 0.26 0.28 0.28 0.27 0.27 0.31 0.31 1.07 1.07 0.34 0.34 0.24 0.24 0.29 0.29 1.12 1.12 0.46 0.46 0.70 0.70 0.45 0.45 0.51 0.52 0.28 0.28 0.21 0.21 0.21 0.21 ATTACHMENT A Page 9 FY 1997-98 FY 1998-99 $3,711.06 $3,733.19 3,711.06 3,733.19 2,237.28 2,250.62 2,237.28 2,250.62 2,237.28 2,250.62 $0.43 $0.43 0.24 0.24 0.38 0.38 0.68 0.69 0.85 0.86 0.42 0.42 0.74 0.75 0.29 0.29 0.24 0.24 0.27 0.27 1.00 1.01 0.24 0.24 0.32 0.32 0.38 0.38 0.28 0.28 0.55 0.55 0.33 0.33 0.47 0.48 0.38 0.38 0.33 0.33 0.22 0.23 0.28 0.28 0.43 0.43 0.24 0.24 0.66 0.66 0.31 0.31 0.34 0.34 0.26 0.26 0.28 0.28 0.27 0.28 0.31 0.31 1.08 1.09 0.35 0.35 0.24 0.24 0.29 0.30 1.13 1.14 0.46 0.46 0.70 0.71 0.45 0.45 0.52 0.52 0.28 0.29 0.21 0.22 0.21 0.21 July 23, 2019 Item #7 Page 17 of 23 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 TAX RATES FOR FISCAL YEAR 2019-20 SPECIAL DEVELOPMENT TAX ONE-TIME PROPERTY TYPE FORMATION OR ANNEXATION DATE TAX RATE IMPROVEMENT AREA II: FY 1999-00 FY 2000-01 FY 2001-02 RESIDENTIAL (PER DWELLING UNIT) (65% of the Maximum Tax) 0 -1.5 DU /ACRE $3,775.63 $3,836.92 $3,893.62 1.51 -4.0 DU/ACRE 3,775.63 3,836.92 3,893.62 4.1 -8.0 DU/ACRE 2,276.21 2,313.16 2,347.34 8.1 -15.0 DU/ACRE 2,276.21 2,313.16 2,347.34 15.1 -23.0 DU/ACRE 2,276.21 2,313.16 2,347.34 NON-RESIDENTIAL (PER SQ.FT.) (10% of the Maximum Tax) AUTO -GASOLINE $0.44 $0.44 $0.45 AUTO -REPAIR & SALES 0.24 0.24 0.25 AUTO CAR WASH 0.38 0.39 0.39 BANK -WALK IN 0.70 0.71 0.72 BANK -WITH DRIVE THRU 0.87 0.88 0.89 BOWLING ALLEY 0.43 0.44 0.44 CAMPGROUND 0.76 0.77 0.78 CHURCH 0.29 0.30 0.30 COMMERCIAL SHOPS 0.24 0.24 0.25 COMMUNITY SHOPPING CENTER 0.27 0.28 0.28 CONVENIENCE MARKET 1.02 1.04 1.05 DISCOUNT STORE 0.24 0.24 0.25 GOLF COURSE 0.32 0.33 0.33 GROCERY STORE 0.39 0.39 0.40 HEALTH CLUB 0.28 0.28 0.29 HELIPORTS 0.56 0.56 0.57 HOSPITAL-CONVALESCENT 0.34 0.34 0.35 HOSPITAL -GENERAL 0.48 0.49 0.50 HOTEL -CONV. FAC/COMM. 0.38 0.39 0.39 INDOOR SPORTS ARENA 0.34 0.34 0.35 INDUSTRIAL -COMMERCIAL BUSINESS PARK 0.23 0.23 0.24 JUNIOR COLLEGE 0.29 0.29 0.30 LIBRARY 0.43 0.44 0.45 LUMBER/HARDWARE STORE 0.24 0.24 0.25 MARINA 0.67 0.68 0.69 MOTEL 0.31 0.32 0.32 NEIGHBORHOOD SHOPPING CENTER 0.34 0.35 0.35 OFFICE -COMMERCIAL(< 100,000 SF) 0.27 0.27 0.27 OFFICE -GOVERNMENT 0.28 0.29 0.29 OFFICE -HIGH RISE 0.28 0.28 0.29 OFFICE -MEDICAL 0.31 0.32 0.32 OUTDOOR TENNIS COURT 1.10 1.12 1.13 RACETRACK 0.35 0.36 0.36 REGIONAL SHOPPING CENTER 0.24 0.25 0.25 RESORT HOTEL 0.30 0.30 0.31 RESTAURANT -FAST FOOD 1.15 1.17 1.18 RESTAURANT -QUALITY 0.47 0.48 0.48 RESTAURANT -SIT DOWN 0.72 0.73 0.74 S & L-WALK IN 0.46 0.47 0.47 S & L -WITH DRIVE THRU 0.53 0.54 0.54 UNIVERSITY 0.29 0.29 0.30 ALL OTHER COMMERCIAL USES NOT IDENTIFIED ABOVE 0.22 0.22 0.22 ALL OTHER INDUSTRIAL USES NOT IDENTIFIED ABOVE 0.22 0.22 0.22 NOTES: TAX RATE AREA I INCLUDES PROPER1Y WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO. 1. TAX RATE AREA II EXCLUDES PROPER1Y WITHIN BRIDGE AND THOROUGHFARE DISTRICT NO. 1. ENGINEERING NEWS RECORD INFLATION RATE WAS 1.5%. ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES. FY 2002-03 FY 2003-04 $3,932.17 $3,967.25 3,932.17 3,967.25 2,370.58 2,391.73 2,370.58 2,391.73 2,370.58 2,391.73 $0.46 $0.46 0.25 0.25 0.40 0.40 0.73 0.73 0.90 0.91 0.45 0.45 0.79 0.79 0.31 0.31 0.25 0.25 0.28 0.29 1.06 1.07 0.25 0.25 0.34 0.34 0.40 0.41 0.29 0.29 0.58 0.58 0.35 0.35 0.50 0.51 0.40 0.40 0.35 0.35 0.24 0.24 0.30 0.30 0.45 0.46 0.25 0.25 0.70 0.70 0.32 0.33 0.36 0.36 0.28 0.28 0.30 0.30 0.29 0.29 0.33 0.33 1.15 1.16 0.37 0.37 0.25 0.26 0.31 0.32 1.20 1.21 0.49 0.49 0.75 0.75 0.48 0.48 0.55 0.55 0.30 0.30 0.23 0.23 0.22 0.23 ATTACHMENT A Page 10 FY 2004-05 FY 2005-06 $4,023.95 $4,146.83 4,023.95 4,146.83 2,425.91 2,500.00 2,425.91 2,500.00 _2,425.91 2,500.00 $0.47 $0.48 0.26 0.26 0.41 0.42 0.74 0.77 0.92 0.95 0.46 0.47 0.81 0.83 0.31 0.32 0.26 0.26 0.29 0.30 1.09 1.12 0.26 0.26 0.35 0.36 0.41 0.43 0.30 0.31 0.59 0.61 0.36 0.37 0.51 0.53 0.41 0.42 0.36 0.37 0.24 0.25 0.31 0.32 0.46 0.48 0.26 0.26 0.71 0.73 0.33 0.34 0.37 0.38 0.28 0.29 0.30 0.31 0.30 0.31 0.33 0.34 1.17 1.21 0.38 0.39 0.26 0.27 0.32 0.33 1.22 1.26 0.50 0.51 0.76 0.79 0.49 0.50 0.56 0.58 0.31 0.32 0.23 0.24 0.23 0.24 July 23, 2019 Item #7 Page 18 of 23 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 TAX RATES FOR FISCAL YEAR 2019-20 SPECIAL DEVELOPMENT TAX ONE-TIME PROPERTY TYPE FORMATION OR ANNEXATION DATE TAX RATE IMPROVEMENT AREA II: FY 2006-07 FY 2007-08 FY 2008-09 RESIDENTIAL (PER DWELLING UNI]) (65% of/he Maximum Tax) O -1.5 DU /ACRE $4,218.16 $4,294.77 $4,372.78 1.51 -4.0 DU/ACRE 4,218,16 4,294.77 4,372.78 4.1 -8.0 DU/ACRE 2,542.99 2,589.18 2,636.21 8.1 -15.0 DU/ACRE 2,542.99 2,589.18 2,636.21 15.1 -23.0 DU/ACRE 2,542.99 2,589.18 2,636.21 NON-RESIDENTIAL (PER SQ.FT.) (10% of the Maximum Tax) AUTO -GASOLINE $0.49 $0.50 $0.51 AUTO -REPAIR & SALES 0.27 0.27 0.28 AUTO CAR WASH 0.43 0.43 0.44 BANK-WALK IN 0.78 0.79 0.81 BANK -V\/1TH DRIVE THRU 0.97 0.99 1.00 BOWLING ALLEY 0.48 0.49 0.50 CAMPGROUND 0.84 0.86 0.88 CHURCH 0.33 0.33 0.34 COMMERCIAL SHOPS 0.27 0.27 0.28 COMMUNITY SHOPPING CENTER 0.30 0.31 0.32 CONVENIENCE MARKET 1.14 1.16 1.18 DISCOUNT STORE 0.27 0.27 0.28 GOLF COURSE 0.36 0.37 0.38 GROCERY STORE 0.43 0.44 0.45 HEALTH CLUB 0.31 0.32 0.32 HELIPORTS 0.62 0.63 0.64 HOSPITAL -CONVALESCENT 0.38 0.38 0.39 HOSPITAL -GENERAL 0.54 0.55 0.56 HOTEL -CONV. FAG/COMM. 0.43 0.43 0.44 INDOOR SPORTS ARENA 0.38 0.38 0.39 INDUSTRIAL -COMMERCIAL BUSINESS PARK 0.26 0.26 0.26 JUNIOR COLLEGE 0.32 0.33 0.33 LIBRARY 0.48 0.49 0.50 LUMBER/HARDWARE STORE 0.27 0.27 0.28 MARINA 0.75 0.76 0.77 MOTEL 0.35 0.35 0.36 NEIGHBORHOOD SHOPPING CENTER 0.38 0.39 0.40 OFFICE-COMMERCIAL(< 100,000 SF) 0.30 0.30 0.31 OFFICE -GOVERNMENT 0.32 0.32 0.33 OFFICE -HIGH RISE 0.31 0.32 0.32 OFFICE -MEDICAL 0.35 0.36 0.36 OUTDOOR TENNIS COURT 1.23 1.25 1.27 RACETRACK 0.39 0.40 0.41 REGIONAL SHOPPING CENTER 0.27 0.28 0.28 RESORT HOTEL 0.34 0.34 0.35 RESTAURANT -FAST FOOD 1.28 1.31 1.33 RESTAURANT -QUALITY 0.52 0.53 0.54 RESTAURANT -SIT DOWN 0.80 0.81 0.83 S & L-WALK IN 0.51 0.52 0.53 S & L -V\/1TH DRIVE THRU 0.59 0.60 0.61 UNIVERSITY 0.32 0.33 0.34 ALL OTHER COMMERCIAL USES NOT IDENTIFIED ABOVE 0.24 0.25 0.25 ALL OTHER INDUSTRIAL USES NOT IDENTIFIED ABOVE 0.24 0.24 0.25 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 1.5%. ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES. FY 2009-10 FY2010-11 $4,508.37 $4,439.72 4,508.37 4,439.72 2,717.96 2,676.57 2,717.96 2,676.57 2,717.96 2,676.57 $0.52 $0.51 0.29 0.28 0.46 0.45 0.83 0.82 1.03 1.02 0.51 0.50 0.90 0.89 0.35 0.35 0.29 0.28 0.33 0.32 1.22 1.20 0.29 0.28 0.39 0.38 0.46 0.46 0.33 0.33 0.66 0.65 0.40 0.40 0.58 0.57 0.46 0.45 0.40 0.40 0.27 0.27 0.34 0.34 0.52 0.51 0.29 0.28 0.80 0.79 0.37 0.37 0.41 0.40 0.32 0.31 0.34 0.33 0.33 0.33 0.37 0.37 1.31 1.29 0.42 0.41 0.29 0.29 0.36 0.35 1.37 1.35 0.56 0.55 0.86 0.84 0.55 0.54 0.63 0.62 0.35 0.34 0.26 0.26 0.26 0.25 ATTACHMENT A Page 11 FY 2011-12 FY 2012-13 $4,501.02 $4,554.39 4,501 .02 4,554.39 2,713.52 2,745.70 2,713.52 2,745.70 2,713.52 2,745.70 $0.52 $0.53 0.29 0.29 0.46 0.46 0.83 0.84 1.03 1.05 0.51 0.52 0.90 0.91 0.35 0.35 0.29 0.29 0.33 0.33 1.22 1.23 0.29 0.29 0.39 0.39 0.46 0.47 0.33 0.34 0.66 0.67 0.40 0.41 0.57 0.58 0.46 0.46 0.40 0.41 0.27 0.28 0.34 0.35 0.52 0.52 0.29 0.29 0.80 0.81 0.37 0.38 0.41 0.41 0.32 0.32 0.34 0.34 0.33 0.34 0.37 0.38 1.31 1.33 0.42 0.43 0.29 0.29 0.36 0.36 1.37 1.38 0.56 0.56 0.85 0.86 0.55 0.55 0.63 0.64 0.34 0.35 0.26 0.26 0.26 0.26 July 23, 2019 Item #7 Page 19 of 23 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 TAX RATES FOR FISCAL YEAR 2019-20 SPECIAL DEVELOPMENT TAX ONE-TIME PROPERTY TYPE FORMATION OR ANNEXATION DATE TAX RATE IMPROVEMENT AREA II: FY 2013-14 FY 2014-15 FY 2015-16 RESIDENTIAL (PER DWELLING UNIT) (65% of/he Maximum Tax) 0 -1.5 DU /ACRE $4,554.39 $4,650.25 $4,705.39 1.51 -4.0 DU/ACRE 4,554.39 4,650.25 4,705.39 4.1 -8.0 DU/ACRE 2,745.70 2,803.49 2,836.73 8.1 -15.0 DU/ACRE · 2,745.70 2,803.49 2,836.73 15.1 -23.0 DU/ACRE 2,745.70 2,803.49 2,/!36.73 NON-RESIDENTIAL (PER SQ.FT.) (10% of/he Maximum Tax) AUTO -GASOLINE ·$0.53 $0.54 $0.55 AUTO -REPAIR & SALES 0.29 0.29 0.30 AUTO CAR WASH 0.46 0.47 0.48 BANK -WALK IN 0.84 0.86 0.87 BANK -WITH DRIVE THRU 1.05 1.07 1.08 BOWLING ALLEY 0.52 0.53 0.53 CAMPGROUND 0.91 0.93 0.94 CH URCH 0.35 0.36 0.37 COMMERCIAL SHOPS 0.29 0.29 0.30 COMMUNITY SHOPPING CENTER 0.33 0.34 0.34 CONVENIENCE MARKET 1.23 1.26 1.27 DISCOUNT STORE 0.29 0.29 0.30 GOLF COURSE 0.39 0.40 0.40 GROCERY STORE 0.47 0.48 0.48 HEALTH CLUB 0.34 0.35 0.35 HELIPORTS 0.67 0.68 0.69 HOSPITAL -CONVALESCENT 0.41 0.42 0.42 HOSPITAL -GENERAL 0.58 0.59 0.60 HOTEL -CONV. FAC/COMM. 0.46 0.47 0.48 INDOOR SPORTS ARENA 0.41 0.42 0.42 INDUSTRIAL -COMMERCIAL BUSINESS PARK 0.28 0.28 0.29 JUNIOR COLLEGE 0.35 0.35 0.36 LIBRARY 0.52 0.53 0.54 LUMBER/HARDWARE STORE 0.29 0.29 0.30 MARINA 0.81 0.82 0.83 MOTEL 0.38 0.38 0.39 NEIGHBORHOOD SHOPPING CENTER 0.41 0.42 0.43 OFFICE -COMMERCIAL (< 100,000 SF) 0.32 0.33 0.33 OFFICE -GOVERNMENT 0.34 0.35 0.35 OFFICE -HIGH RISE 0.34 0.34 0.35 OFFICE -MEDICAL 0.38 0.39 0.39 OUTDOOR TENNIS COURT 1.33 1.35 1.37 RACETRACK 0.43 0.43 0.44 REGIONAL SHOPPING CENTER 0.29 0.30 0.30 RESORT HOTEL 0.36 0.37 0.37 RESTAURANT -FAST FOOD 1.38 1.41 1.43 RESTAURANT -QUALITY 0.56 0.58 0.58 RESTAURANT - SIT DOWN 0.86 0.88 0.89 S & L-WALK IN 0.55 0.57 0.57 S & L -WITH DRIVE THRU 0.64 0.65 0.66 UNIVERSITY 0.35 0.36 0.36 ALL OTHER COMMERCIAL USES NOT IDENTIFIED ABOVE 0.26 0.27 0.27 ALL OTHER INDUSTRIAL USES NOT IDENTIFIED ABOVE 0.26 0.26 0.27 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 1.5%. ACTUAL TAX RATES CALCULATED TO FOUR DECIMAL PLACES. FY 2016-17 FY 2017-18 $4,740.42 $4,840.19 4,740.42 4,840.19 2,857.85 2,918.00 2,857.85 2,918.00 2,857.85 2,918.00 $0.55 $0.56 0.30 0.31 0.48 0.49 0.87 0.89 1.09 1.11 0.54 0.55 0.95 0.97 0.37 0.38 0.30 0.31 0.34 0.35 1.28 1.31 0.30 0.31 0.41 0.42 0.49 0.50 0.35 0.36 0.70 0.71 0.42 0.43 0.60 0.62 0.48 0.49 0.42 0.43 0.29 0.29 0.36 0.37 0.54 0.56 0.30 0.31 0.84 0.86 0.39 0.40 0.43 0.44 0.33 0.34 0.36 0.37 0.35 0.36 0.39 0.40 1.38 1.41 0.44 0.45 0.31 0.31 0.38 0.38 1.44 1.47 0.59 0.60 0.90 0.92 0.58 0.59 0.66 0.68 0.36 0.37 0.27 0.28 0.27 0.28 ATTACHMENT A Page 12 FY 2018-19 FY 2019-20 $4,899.95 $4,936.42 4,899.95 4,936.42 2,954.02 2,976.01 2,954.02 2,976.01 2,954.02 2,976.01 $0.57 $0.57 0.31 0.31 0.50 0.50 0.90 0.91 1.12 1.13 0,56 0.56 0.98 0.99 0.38 0.38 0.31 0.31 0.35 0.36 1.32 1.33 0.31 0.31 0.42 0.42 0.50 0.51 0.36 0.37 0.72 0.73 0.44 0.44 0.63 0.63 0.50 0.50 0.44 0.44 0.30 0.30 0.37 0.38 0.56 0.57 0.31 0.31 0.87 0.87 0.40 0.41 0.45 0.45 0.34 0.35 0.37 0.37 0.36 0.36 0.41 0.41 1.43 1.44 0.46 0.46 0.32 0.32 0.39 0.39 1.49 1.50 0.61 0.61 0.93 0.94 0.60 0.60 0.68 0.69 0.38 0.38 0.28 0.29 0.28 0.28 July 23, 2019 Item #7 Page 20 of 23 CFD No.1 Project Schedule July 1, 2019 Current and Future Projects: Civic Center Civic Center (Farmer's Bldg Purchase) Library (Future Cole Expansion) Orion Center (Public Works Center) Veteran's Memorial Park Completed Projects: Cannon Road @ 1-5 Cannon Road West Faraday Avenue La Costa Avenue La Costa Interchange Library (Learning Center) Library (S. Carlsbad) Olivenhain/Rancho Santa Fe Road Palomar Airport Road Interchange Poinsettia Interchange Total Project Budget $ 51,028,105 15,733,172 5,988,000 34,536,266 23,898,200 422,840 6,528,546 5,423,394 6,200,095 7,329,516 4,501,717 14,443,717 5,700,000 2,667,496 6,469,457 $ 190,870,521 Ca rryfo rwa rd Unexpended Budget Total Exp to Date 2018-19 $ 278,105 $ 750,000 15,733,172 - -- 5,457,295 29,078,971 378,200 20,000 422,840 6,528,546 5,423,394 6,200,095 7,329,516 4,501,717 14,443,717 5,700,000 2,667,496 6,469,457 $ 81,533,550 $ 29,848,971 Future Expenditures Year 1 Year6 YearlO Budgeted Budgeted Budgeted 2019-20 2024-25 2028-29 $ -$ 50,000,000 $ - --- --- --- 80,000 -23,420,000 $ 80,000 $ 50,000,000 $ 23,420,000 Year 11 Budgeted 2029-30 $ -$ - 5,988,000 - - $ 5,988,000 $ Total Future Expenditures 50,750,000 - 5,988,000 29,078,971 23,520,000 - - - - - - - - - - - - 109,336,971 m X :::c: c:i =i N July 23, 2019 Item #7 Page 21 of 23 EXHIBIT 3 History of Tax Rates CFD No. 1 Residential Non-Residentia I Pass-Through Tax Fiscal Year Vacant Land Tax One-Time Tax Vacant Land Tax One-Time Tax (Max 13.81%) 1992 74% 100% 17% 100% N/A 1993 74% 100% 38% 100% N/A 1994 74% 100% 38% 100% 9.5% 1995 74% 100% 38% 100% 9.5% 1996 74% 100% 38% 100% 9.5% 1997 74% 100% 40% 100% 9.5% 1998 70% 100% 50% 100% 9.5% 1999 50% 90% 60% 100% 8.7% 2000 40% 90% 60% 100% 8.7% 2001 40% 90% 40% 90% 8.7% 2002 20% 80% 20% 60% 8.7% 2003 0% 70% 20% 60% 8.7% 2004 0% 60% 0% 60% 8.7% 2005 0% 50% 0% 40% 8.7% 2006 0% 30% 0% 30% 7.5% 2007 0% 50% 0% 30% 7.5% 2008 0% 60% 0% 30% 7.5% 2009 0% 60% 0% 30% 7.5% 2010 0% 50% 0% 30% 7.5% 2011 0% 50% 0% 30% 7.5% 2012 0% 55% 0% 25% 7.5% 2013 0% 55% 0% 25% 7.5% 2014 0% 55% 0% 25% 7.5% 2015 0% 55% 0% 25% 7.5% 2016 0% 55% 0% 25% 7.5% 2017 0% 55% 0% 10% 7.5% 2018 0% 55% 0% 10% 7.5% 2019 0% 55% 0% 10% 7.5% 2020 0% 65% 0% 10% 7.5% July 23, 2019 Item #7 Page 22 of 23 Kevin Branca, Finance Director Roxanne Muhlmeister, Finance Manager Barbara Hale-Carter, Special Tax Consultant, SDFA July 23, 2019 Community Facilities District No. 1 Requested Action Adopt a Resolution establishing the fiscal year 2019-20 special taxes for Communities Facilities District No. 1 (CFD No. 1) History •Formed Community Facilities District (CFD) No. 1 on May 7, 1991 •Formed under the Mello-Roos Community Facilities Act of 1982 •Specifically excluded LFMP zones 1, 2, 3, 4 and 6 •Certain infrastructure projects were taken out of the existing fee programs to be funded in part by CFD No. 1 History (continued) •These projects are now jointly funded by CFD No. 1 for property within the CFD and existing fee programs for property outside of the CFD •Property is annexed at first discretionary approval, excluding a master plan or a specific plan Authorized Projects to be Funded by CFD No. 1 Civic Facilities I-5 Interchanges Road Segments Cole Library Palomar Airport Rd-complete La Costa Avenue–complete Dove Library –complete La Costa Avenue–complete Olivenhain Road–complete Civic Center (City Hall)Poinsettia Lane–complete Cannon Road–complete Veteran’s Memorial Park Faraday Avenue-complete Orion Center (Public Works Yard) Rate and Method of Apportionment •At formation, it was determined that the projected impact of the property within the CFD, both initially and subsequently, on future public facilities based on zoning and land use projections was: Residential –65% Commercial/Industrial –35% •Expenditures have been allocated using this ratio •Ratio cannot be changed absent modification proceedings Tax Methodology •Maximum tax is adjusted annually by ½ of the annual change in the Los Angeles inflationary factor in the Engineering News Record (ENR), if the property is already in the CFD •Maximum tax is adjusted by the full change in the ENR if the property has not annexed into the CFD •Although the CFD ordinance established a ceiling for future tax rates, it did not set the actual applied tax to be levied annually The City Council sets the tax levy every year for CFD No. 1 Current and Proposed Tax Rates by Type Residential Property Non-Residential Property Current Tax Rate FY 2018-19 Proposed Tax Rate FY 2019-20 Current Tax Rate FY 2018-19 Proposed Tax Rate FY 2019-20 Vacant Land Tax None None None None One-Time Tax 55% of max 65% of max 10% of max 10% of max Pass Through Tax N/A N/A 7.5% for 25 years 7.5% for 25 years Questions?