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HomeMy WebLinkAbout2019-09-24; City Council; ; Community Facilities District No. 1 Annexation No. 19/20-02 (Summit Senior Carlsbad)~ CITY COUNCIL V Staff Report Meeting Date: To: From: Staff Contact: Sept. 24, 2019 Mayor and City Council Scott Chadwick, City Manager Kevin Branca, Finance Director Kevin.Branca@carlsbadca.gov or 760-602-2418 CA Review we.- Subject: Community Facilities District No. 1 Annexation No. 19/20-02 (Summit Senior Carlsbad) Recommended Action Adopt a Resolution certifying and adding property to Community Facilities District No. 1 (CFO No.1). Executive Summary Community Facilities District No. 1 was formed in 1991 and originally included undeveloped property within 18 Local Facilities Management Zones. Additional property was anticipated and has been annexed into CFD No. 1 after receipt of discretionary approval. The applicant, Steadfast Carlsbad Senior, LLC, received discretionary approvals for the development of a professional care facility consisting of a two-story stepped building totaling 84,243 square feet known as "Summit Senior Carlsbad" (the Project) on June 6, 2018. CFD No. 1 provides funding for a variety of infrastructure projects which will be necessary to meet the requirements of the Growth Management Program. These actions will allow the annexation of the Project into CFO No. 1. Discussion Property owners of vacant land in Carlsbad and the city worked together to form Community Facilities District No. 1 (CFD No. 1). The City Council formed CFO No. 1 in 1991 following an election by the property owners. The property owners agreed to have a special tax levied on their properties to fund the construction or acquisition of capital improvements. As such, CFD No. 1 provides funding for a variety of infrastructure projects which will be necessary to meet the requirements of the Growth Management Program. Pursuant to City Council Policy No. 33, CFO financing is not intended to relieve any developer of the responsibility to provide funding for infrastructure improvements related to a single development. Further, to the extent that a CFO has been formed to finance the construction of public infrastructure, City Council Policy No. 33 states that any and all future tax obligations related to a residential parcel will be discharged in full at the time building permits are issued for the construction of a residential unit. Because City Council Policy No. 33 ensures the obligation on a residential unit is paid in full when the building permit is issued, the CFO does not affect homeowners in Carlsbad. As such, a Carlsbad homeowner will not pay city-imposed September 24, 2019 Item #2 Page 1 of 34 Mello-Roos taxes. However, per City Council Policy No. 33 developers of non-residential property are provided the option of discharging their future tax obligation at the time building permits are issued or assuming the tax liability basis. Many Local Facilities Management Zones were not included in CFD No. 1. Annexation proceedings were anticipated to occur as each zone progressed through the development process. With the exception of the more developed areas (Zones 1, 2, 3, 4 and 6), each zone plan requires annexation to CFD No. 1 or developer funding of all required facilities. In April 1993, the City Council authorized the future annexation of the remaining undeveloped land into CFD No. 1. This action permits developers to use the simplified annexation procedure and allows development to proceed without additional public hearings or special elections. The simplified annexation procedure lets property owners administratively petition to annex into CFD No. 1. Upon City Council approval, property will be annexed into CFD No. 1 which will fulfill their obligation to contribute towards certain public facilities. Annexation No. 19/20-02 -Summit Senior Carlsbad As a requirement of discretionary approvals received June 6, 2018, parcel 209-060-56-00 is required to annex into CFD No. 1. The applicant, Steadfast Carlsbad Senior, LLC, has completed the required Consent and Waiver to Shortening of Time for Conducting a Special Election in Property Proposed to be Annexed (Exhibit 2) and cast a positive ballot for the annexation of property and the levy of the special tax. The election was held on August 26, 2019. The City Clerk completed a Statement of Votes Cast showing 3 votes cast in favor of the proposition and zero votes cast against the proposition (included with Exhibit 1). The City Council may formally authorize the annexation by certifying and adding the property into the original Community Facilities District No. 1. Fiscal Analysis When CFD No. 1 was established, it was anticipated that all vacant, undeveloped, or underdeveloped land would annex as it developed. This process ensured the necessary cash flow was available to finance the construction of certain public facilities. The following estimates are based on the CFD No. 1 actual tax rates for fiscal year 2019-20. Annexation No. 19/20-02 -Summit Senior Carlsbad The Project site is located on the northeast corner of El Camino Real and Cougar Drive and currently contains the Madonna Hill Guest Home buildings, a small assisted living facility that operated on a portion of the site from the mid-1950's until 2014. The existing Madonna Hill buildings will be demolished. The proposed professional care facility building consists of a two- story stepped building design totaling 84,243 square feet. The proposed facility includes 101 units with 122 beds comprised of the following: 1) 78 assisted living units including 50 one- bedroom units, 7 two-bedroom units and 21 studio units; and 2) 23 memory care units including 9 one-bedroom units, and 14 two-bedroom units. The property annexing into CFD No. 1 is approximately 2.15 acres. The Project site is approximately 3.44 acres. September 24, 2019 Item #2 Page 2 of 34 The property being annexed will be subject to CFD No. 1 Special Tax -Undeveloped Property beginning in fiscal year 2019-20. Using the fiscal year 2019-20 tax rates, the levy will be approximately $0. The property being annexed is also subject to the CFD No. 1 Special Development Tax -One-Time, payable at the time of building permit issuance. Using the fiscal year 2019-20 tax rates, this tax is estimated at $35,807 for residential developed land use. Using the simplified annexation procedure saves the city and the owner election costs and additional time delays. A fee of $1,851 to cover annexation processing, map preparation, and filing costs has been paid by the applicant. Next Steps After City Council authorization, a Notice of Annexation (Exhibit 3) and the Boundary Map of Annexation 19/20-02(Attachment B to Exhibit 1) will be filed with the County Recorder as a lien against the property. Environmental Evaluation (CEQA) Pursuant to Public Resources Code section 21065 and CEQA Guideline section 15738, this does not constitute a "project" within the meaning of CEQA and therefore, does not require an environmental review. Public Notification and Outreach 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 scheduled meeting. Exhibits 1. City Council Resolution. 2. Consent and Waiver to Shortening of Time for Conducting a Special Election in Property Proposed to be Annexed to City of Carlsbad Community Facilities District No. 1 and Appointment of Authorized Representative Annexation No. 19/20-02 -Summit Senior Carlsbad. 3. Notice of Annexation No. 19/20-02. 4. Community Facilities District No. 1, 2019-20 actual tax rates. September 24, 2019 Item #2 Page 3 of 34 RESOLUTION NO. 2019-187 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, CERTIFYING THE RESULTS OF AN ELECTION AND ADDING PROPERTY TO COMMUNITY FACILITIES DISTRICT NO. 1 WHEREAS, the City Council of the City of Carlsbad, California has determined that previous actions have been taken to form a Community Facilities District pursuant to the 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, said Article 3.5 thereof. The existing Community Facilities District being designated as COMMUNITY FACILITIES DISTRICT NO. 1 (the "District"); and WHEREAS, the legislative body has also established a procedure to allow and provide for future annexations to the District and the territory proposed to be so annexed in the future was designated as COMMUNITY FACILITIES DISTRICT NO. 1, FUTURE ANNEXATION AREA; and WHEREAS, at this time the unanimous consent to the annexation of certain territory to the District has been received from the property owner or owners of such territory, and such territory has been designated as ANNEXATION NO. 19/20-02 (the "Annexed Area"); and WHEREAS, less than twelve (12) registered voters have resided within the territory of Annexed Area for each of the ninety (90) days preceding August 26, 2019, therefore, pursuant to the Act the qualified electors of the Annexed Area shall be the "landowners" of such Annexed Area as such term is defined in Government Code Section 53317(f) and each such landowner who is the owner of record as of August 26, 2019, or the authorized representative thereof, shall have one vote for each acre or portion of an acre of land that she or he owns within such Annexed Area; and WHEREAS, the time limit specified by the Act for conducting an election to submit the levy of the special taxes on the property within the Annexed Area to the qualified electors of the Annexed Area and the requirements for impartial analysis and ballot arguments have been waived with the unanimous consent of the qualified electors of the Annexed Area; and WHEREAS, the City Clerk of the City of Carlsbad has caused ballots to be distributed to the qualified electors of the Annexed Area, has received and canvassed such ballots and made a report to this City Council regarding the results of such canvas, a copy of which is attached as Attachment A hereto and incorporated herein by this reference; and September 24, 2019 Item #2 Page 4 of 34 WHEREAS, at this time the measure voted upon and such measure did receive the favorable 2/3's vote of the qualified electors, and this City Council desires to declare the results of the election; and WHEREAS, a map showing the Annexed Area and designated as Annexation No. 19/20-02 (the "Annexation Map"), a copy of which is attached as Attachment B hereto and incorporated herein by this reference, has been submitted to this legislative body. 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 this legislative body does hereby further determine as follows: a. The unanimous consent to the annexation of the Annexed Area to the District has been given by all ofthe owners of the Annexed Area and such consent shall be kept on fil.e in the Office of the City Clerk. b. Less than twelve (12) registered voters have resided within the territory of Annexed Area for each of the ninety (90) days preceding August 26, 2019, therefore, pursuant to the Act the qualified electors of the Annexed Area shall be the "landowners" of such Annexed Area as such term is defined in Government Code Section 53317(f). c. The qualified electors of the Annexed Area have unanimously voted in favor of the levy of special taxes within the Annexed Area upon its annexation to the District. 3. The boundaries and parcels of territory within the Annexed Area and on which special taxes will be levied in order to pay for the costs and expenses of authorized public facilities are shown on the Annexation Map as submitted to and hereby approved by this legislative body. 4. This legislative body does hereby determine and declare that the Annexed Area is now added to and becomes a part of the District. The City Council of the City, acting as the legislative body of the District, is hereby empowered to levy the authorized special tax within the Annexed Area. 5. Immediately upon adoption of this Resolution, notice shall be given as follows: a. A copy of the annexation map as approved shall be filed in the Office of the County Recorder no later than fifteen (15) days after the date of adoption of this Resolution. September 24, 2019 Item #2 Page 5 of 34 b. An Amendment to the Notice of Special Tax Lien (Notice of Annexation) shall be recorded in the Office of the County Recorder no later than fifteen (15) days after the date of adoption of this Resolution. PASSED, APPROVED AND ADOPTED at a Regular Meeting ofthe City Council ofthe City of Carlsbad on the 24th day of September 2019, by the following vote, to wit: AYES: Hall, Blackburn, Bhat-Patel, Schumacher. NAYS: None. ABSENT: Hamilton. MATT HALL, Mayor u~ llect« mfJl"lez, Def.vi) {or BARBARA ENGLESON, City Clerk C l°tj (SEAL) ~,1\\llllllllll/11111 :,..,,,,~ ~ CA b 1,,,,/. ~ o,'£ rt/ ~ ~, ...• ~.n~ ~..... ·--~~~ !-/~\-v1 ~O{~rfli' ~-Aic~ \\~~/J ~ ••• •-,nf•'■• •••• ,S ,::: (\ ... ' ....... * ¾~1············..\,.,,..# ~,,,,,,IFOP.~~,,,,~ 11///1/iilllfl\\l\\1~ CltlK September 24, 2019 Item #2 Page 6 of 34 STATE OF CALIFORNIA CERTIFICATE OF ELECTION OFFICIAL AND STATEMENT OF VOTES CAST COUNTY OF SAN DIEGO ) ss. CITY OF CARLSBAD ) ATTACHMENT A The undersigned, ELECTION OFFICIAL OF THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, DOES HEREBY CERTIFY that pursuant to the provisions of Section 53326 of the Government Code and Division I 2, commencing with Section 17000 of the Elections Code of the State of California, I did canvass the returns of the votes cast at the CITY OF CARLSBAD COMMUNITY FACILITIES DISTRJCTNO. 1 SPECIAL ELECTION ANNEXATION NO. 19/20-02 in such City, held August 26, 20 I 9. I FURTHER CERTIFY that this Statement of Votes Cast shows the whole number of votes cast in the area proposed to be annexed to Community Facilities District No. I of such City for or against the Measure are full, true and correct. VOTES CAST ON PROPOSITION I: YES _J NO _,k)- WITNESS my hand this ~Ld;h day of ~d vi± , 201!1_. \±.ff¥b ~f-m JrL~,A CITY CLERK -= ELECTION OFFICIAL CITY OF CARLSBAD STATE OF CALIFORNIA September 24, 2019 Item #2 Page 7 of 34 BOUNDARY MAP ANNEXATION NO. 19/20-02 COMMUNITY FACILITIES DISTRICT NO. 1 CITY OF CARLSBAD COUNTY OF SAN DIEGO, STATE OF CALIFORNIA LEGEND: AIHlfD AREA SUII0MSION IIOUN)ARY PROP£R1Y I.NS E>OSTIIG SlREElS ASSESSOR PARCEL NU}(BERS: 209-060-56-00 ACREAGE 2.15 AC. (GROSS & NET TAXABLE) SHEET 1 OF 1 FUD IN 11£ 0FflC[ Of 11£ CITY CllRK Of lllE ClY Of CARLSIIAO llllS --DAY Of-,2019. CITY CllRK Of 1llE CITY Of CARLSIIAll I HEREBY CER1FY lllAT 1115 MAP SHOIIING IIOUN)ARES Of ANNEXAllON ND. 19/20--02 COMMINlY FACIUITIS OISffilCT NO. 1, CITY Of CARI.SIi.iD, WAS APPRCMll BY 11£ ClY COUNCI. Of lllE aTY Of CARLSIIAD, STATE OF CAURIRNA AT A REtiU.AR MEETtlG JED ON 11£..__ DAY Of __ , 2019 BY 1llE AllOPllON OF RESa..UTION NO. ____ _ CITY CllRK Of 11£ Cl1Y Of CARLSIIAll FUD 1115 __ DAY or __ , 2019 AT lllE HaJR OF __ IN BOOK --PAGE __ DOCUMIIIT NO. -----11f OOIIMUNlY FACUTIES DISTRICTS IN 11£ OFFICE OF 11£ COUNTY RECORDER OF SAN DIEGO OOIMIY, STATE OF CAU'CRNIA. EltlEST J. ORONENBUAG .II. ClllMIY RECORDER IIY-·------DEPUlY COUNlY RECORDER REFERENCE 11£ SAN DIEGO COUNTY ASSESSCR's MAPS FOR A lltTAILm llESCRIPllON OF PARCE. LINES ANO DIMENSIONS. September 24, 2019 Item #2 Page 8 of 34 CONSENT AND WAIVER TO SHORTENING OF TIME FOR CONDUCTING A SPECIAL ELECTION IN PROPERTY PROPOSED TO BE ANNEXED TO CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 AND APPOINTMENT OF AUTHORIZED REPRESENTATIVES ANNEXATION NO. 19/20-02 TO: CITY COUNCIL COMMUNITY FACILITIES DISTRICT NO. 1 OF THE CITY OF CARLSBAD EXHIBIT 2 THE UNDERSIGNED DOES HEREBY CERTIFY UNDER PENALTY OF PERJURY AS FOLLOWS: 1. The undersigned is the owner, or the duly authorized representative of such owner, of the real property described in Exhibit "A" attached hereto and incorporated herein by reference (the 11Property"), and, in such capacity, possesses all legal authority necessary to execute this Consent and Waiver as and on behalf of the owner of the Property (the "Owner") in connection with the annexation of the Property to the District (as defined below). 2. The Owner is aware of and understands the following: A. The City of Carlsbad has conducted proceedings pursuant to the "Mello-Roos Community Facilities Act of 1982", (Government Code §53311 and following) (the "Act") to form a community facilities district known and designated as Community Facilities District No. 1 (the "District") to finance the following public facilities (the "Public Facilities") originally described and designated as: (1) Public facilities generally described as new library facility, major addition to an existing library building, a City Hall complex, and the addition of office and warehouse facilities at the public safety center; (2) Park improvements generally described as the Macario Canyon Park; (3) Major street improvements in portions of the following designated public streets: (a.) Faraday Avenue; (b.) Cannon Road; (c.) La Costa Avenue; (d.) Olivenhain/Rancho Santa Fe Road; and (e.) Leucadia Boulevard. 1 September 24, 2019 Item #2 Page 9 of 34 ( 4) Major bridge and overpass facilities generally described as: (a.) La Costa Interchange; (b.) Poinsettia Interchange; and ( c.) Palomar Airport Road Interchange. B. The City and the qualified electors of the District did authorize the issuance of bonds of the District in an aggregate principal amount of $130,000,000 subject to inflation to finance the acquisition or construction of the Public Facilities and the levy of the special tax set forth in Exhibit 11B" hereto (the "Special Tax") within the District to pay for the Public Facilities, to pay debt service on bonds of the District, or both. C. The City Council of the City (the "City Council") has also undertaken proceedings pursuant to Article 3 .5 of the Act to provide for the future annexation of certain territory, including the Property, to the District. On May 18, 1993, the City Council held a public hearing as required by the Act to consider the future annexation of such territory, including the Property, to the District. Notice of such public hearing was given in the form and manner as required by law. A protest to such future annexation was not received from 50% or more of the registered voters, or six registered voters, whichever is more, residing in the territory proposed to be annexed in the future or the owners of one-half or more of the area of land in the territory proposed to be annexed in the future. At the conclusion of such public hearing, the City Council did approve and provide for the annexation of the territory, including the Property, proposed for annexation in the future upon the unanimous approval of the owner or owners of each parcel or parcels at the time that such parcel or parcels are annexed, without additional hearings. D. The Act further requires, as a prerequisite to the levy of any special taxes within the Property or the issuance of bonds secured by such special taxes, that the City Council must submit the question of whether or not to levy any special tax within the Property to the qualified electors of the Property at a special election. The Act further provides that 2/3 's of the qualified electors must vote in favor of the levy of the special tax. E. The Act provides that the qualified electors of the Property shall be the voters registered to vote within Property if at least twelve (12) persons, who need not necessarily be the same twelve (12) persons, have been registered to vote within the Property for each of the ninety (90) days preceding the close of the public hearing to consider the annexation of the Property to the District. Otherwise, the Act provides that the vote shall be by the landowners of the Property with each such landowner who is the owner of record at the close of such public hearing, or the authorized representative of such owner, having one vote for each acre or portion of an acre of land that such landowner owns within the Property. 2 September 24, 2019 Item #2 Page 10 of 34 F. The provisions of the Act require that such special election be held at least ninety (90) but not more than one hundred eighty days (180) following the date of the submission of the question of levying the special tax to · the qualified electors of the Property; provided, however, any such special election time limit specified by the Act or requirement pertaining ~o the conduct of such a special election may be waived with the unanimous consent of the qualified electors of the Property and the concurrence of the official conducting the election. As is stated below, it is proposed that the special election shall be held on Monday, August 26, 2019 at 9:00 a.m. or such other date upon which all of the qualified electors of the Property and the official conducting the election may concur. 3. The Owner consents to and expressly approves the annexation of the Property to the District and the authorization for the levy of the Special Tax within the Property without further public hearing conducted pursuant to the provisions of the Act. The Owner waives any right which the Owner may have to make any protest or complaint or undertake any legal action challenging the validity of the proceedings of the City to authorize the future annexation of the Property to the District or any necessity, requirement, right or entitlement for further public hearing pertaining to the annexation of the Property to the District and the levy of the Special Tax within the Property. 4. Owner certifies that there have been no persons residing within the Property for each of the ninety (90) days preceding the date of this Consent and Waiver. 5. Owner desires that the special election be held on Monday, August 26, 2019 at 9:00 a.m. or such other date as the qualified electors and the City Clerk of the City, acting as the official conducting the election ("City Clerk"), may mutually agree. 6. Owner expressly consents to the following: A. To the conduct of the special election on Monday, August 26, 2019 at 9:00 a.m. or such other date as the qualified electors and the City Clerk may mutually agree. B. Owner expressly waives any right which owner may have to have the special election conducted within the time periods specified in Government Code Section 53326. C. Owner waives any requirement for the mailing of the election ballot. D. Owner further waives any right or entitlement which Owner may have to have the ballot for such election accompanied by arguments for or against the ballot measure and the impartial analysis as otherwise required by Government Code Section 53327, and/or the statement required by Elections Code Section 5300 and following pertaining to the issuance of bonds. E. Owner waives any protest, complaint or legal action of any nature whatsoever pertaining to the procedures to be undertaken for the conduct of such election, including but not limited to, the shortening of all time periods pertaining to the 3 September 24, 2019 Item #2 Page 11 of 34 special election, including but not limited to, the time for holding the special election and the necessity and requirement for any newspaper publication of the notice of such special election and the lack of arguments and impartial analysis. [Remainder of this page intentionally left blank.] 4 September 24, 2019 Item #2 Page 12 of 34 PROPERTY OWNER APPOINTMENT OF AUTHORIZED REPRESENTATIVES The owner hereby appoints __________ or __________ , alternatively, as its authorized representative to vote in the subject special election, and the owner certifies that the true and exact signature of each alternative representative is set forth below: Signature of Representative (Type or Print Name of Representative) Signature of Representative (Type or Print Name of Representative) PROPERTY OWNER DESIGNATION OF ADDRESS FOR MAILING OF MATERIALS The owner requests that all materials related to this annexation be mailed to the following address: stead::@~± C01Y \~bad S-eYJ\O'C, LLC 12)\00 \/OVl \LfaYVVltHIJ, Svt,k '5D6 \y\)\ Y\t , t 'A 9 7..\.0\ 2 The owner waives any right or requirement to have such materials mailed to the address shown on the assessor's roll of the County of San Diego. 5 September 24, 2019 Item #2 Page 13 of 34 THIS CONSENT AND WAIVER AND APPOINTMENT OF AUTHORIZED REPRESENTATIVES was e>:_ecuted _ this .2\-day of ---'--'L..:....!...~-!.1--' 20 \Cj, in \yv\Y\L:: , c.oJ ,-fu'fv-v'-o....-. (.Signature) Type or Print Name of Signor If the person executing this document is not the owner of the property for which this document is being submitted but is signing for and on behalf of such owner, please fill in the name of the owner of the property on the line provided below: (Type or print name of the Owner) 6 September 24, 2019 Item #2 Page 14 of 34 OFFICIAL CALIFORNIA NOTARIAL CERTIFICATE ACKNOWLEDGEMENT A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document, to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. State of California County of Oro:n~ On 08/2. \ / \9 before me, C\n=-i\ L..Y\eY\5 , personally appeared D ,V\eS\n \<.v.mo-r \)O..VC\Y-, who proved to me on the basis of satisfactory evidence to be the person(-&) whose name~ isfa-Fe subscribed to the within instrument and acknowledged to me that he/-&fl€/tAey executed the same in hisfl,t1r/their authorized capacity(-tesj, and that by his/her/tl=teff signature(5-) on the instrument the person(-5-), or the entity upon behalf of which the person~ acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. (Seal) Signature _ ____,_(~~'.:::'.:-~, ===:lk?:J~=::=t===------ September 24, 2019 Item #2 Page 15 of 34 EXHIBIT A DESCRIPTION OF PROPERTY The Property is identified and described as: Ownership: Assessor Parcel Number{s): Steadfast Carlsbad Senior, LLC 209-060-56-00 Total: A Acreage: 2.15 2.15 September 24, 2019 Item #2 Page 16 of 34 EXIDBIT "B" RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX COMMUNITY FACILITIES DISTRICT NO. 1 CITY OF CARLSBAD B September 24, 2019 Item #2 Page 17 of 34 EXHIBIT "B" CITY OF CARLSBAD RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX COMMUNITY FACILITIES DISTRICT NO. 1 PROPERTY CATEGORIES AND MAXIMUM TAX All taxable property within the boundaries of the Future Annexation Area shall be subject to ANNUAL SPECIAL TAXES as applicable based upon the rates as established for the original Community Facilities District No. 1 and further based upon the property categories, maximum tax rates, increases and status of the issuance of building permits, all as hereinafter set forth. Improvement Area I refers to all properties within the boundaries of the City of Carlsbad Bridge and Thoroughfare District. Improvement Area II is for all remaining properties within the Community Facilities District, not within the Bridge and Thoroughfare District. RESIDENTIAL PROPERTY ANNUAL SPECIAL TAX -UNDEVELOPED PROPERTY All taxable property prior to the issuance of a building permit shall be subject to the following maximum annual special taxes, subject to increases as set forth herein: MAXIMUM ANNUAL SPECIAL TAX -UNDEVELOPED PROPERTY PER DEVELOPABLE ACRE FOR FISCAL YEAR 1990/1991 PROPERTY CATEGORY Residential Low Residential Low to Medium Residential Medium Residential Medium to High Residential High IMPROVEMENT AREAi $ 281.00 772.00 1,294.00 1,984.00 2,793.00 IMPROVEMENT AREA II $ 277.00 760.00 1,217.00 1,868.00 2,739.00 SPECIAL DEVELOPMENT TAX -ONE TIME Upon the issuance of a building permit, all Residential properties shall be subject to the following described SPECIAL DEVELOPMENT TAX -ONE TIME, also subject to increases as set forth herein, as follows: B-1 September 24, 2019 Item #2 Page 18 of 34 MAXIMUM SPECIAL DEVELOPMENT TAX -ONE TIME PER RESIDENTIAL DWELLING UNIT FOR FISCAL YEAR 1990/1991 PROPERTY CATEGORY Residential Low Residential Low to Medium Residential Medium Residential Medium to High Residential High IMPROVEMENT AREAi $4,452.00 4,452.00 2,810.00 2,810.00 2,810.00 IMPROVEMENT AREA II $3,835.00 3,835.00 2,312.00 2,312.00 2,312.00 COMMERCIAL, INDUSTRIAL AND OTHER PROPERTY ANNUAL SPECIAL TAX-UNDEVELOPED PROPERTY All taxable Commercial and Industrial Property prior to the issuance of a building permit shall be subject to the following maximum annual special taxes, also subject to increases as set forth herein: MAXIMUM ANNUAL SPECIAL TAX -UNDEVELOPED PROPERTY PER DEVELOPABLE ACRE FOR FISCAL YEAR 1990/1991 Commercial Property Industrial Property Agricultural Property IMPROVEMENT AREAi $2,400.00 1,200.00 -0- IMPROVEMENT AREA II $1,600.00 960.00 -0- All Commercial and Industrial Property, upon the issuance of a building permit, shall have the option to (1) pay the SPECIAL DEVELOPMENT TAX -ONE TIME or (2) assume the ANNUAL. SPECIAL TAX -DEVELOPED PROPERTY for a period of not to exceed twenty-five (25) years, generally in the amounts per property category as follows: B-2 September 24, 2019 Item #2 Page 19 of 34 MAXIMUM SPECIAL DEVELOPMENT TAX -ONE TIME FOR FISCAL YEAR 1990/91 PER SQUARE FOOT OF BUILDING AREA PROPERTY CATEGORY COMMERCIAL USE DESIGNATIONS IMPROVEMENT AREAi Restaurant -Fast Food $ . 28.46 28.14 27.31 18.06 17.51 15.17 14.85 12.83 Outdoor Tennis Courts Convenience Market Bank with Drive-thru Campground Restaurant -Sit Down Marina · Bank -Walk In Auto -Gasoline Grocery Store S & L with Drive-thru Bowling Center Restaurant -Quality Neighborhood Shopping Center Auto Car Wash · S & L-Walk In Race Track Library Community Shopping Center Hospital -General Hotel -Conv. Fae/Comm. Auto -Repair & Sales Regional Shopping Center Discount Store Golf Course Church Office -Government Commercial Shops Health Club Motel Office -High Rise Office -Commercial, 100,000 SF Lumber/Hardware Store Office -Medical Hospital -Convalescent Indoor Sports Arena 8.11 7.78 7.59 6.63 6.57 6.46 6.31 5.51 5.10 4.26 4.24 3.88 3.47 3.41 3.35 3.22 3.06 2.99 2.93 2.90 2.89 2.69 2.67 2.56 2.47 2.42 2.33 2.33 B-3 IMPROVEMENT AREA II $ 7.58 7.26 6.74 5.72 4.99 4.73 4.41 4.60 2.89 2.56 3.48 2.83 3.09 2.27 2.52 3.03 2.33 2.86 1.80 3.18 2.52 1.58 1.61 1.58 2.14 1.94 1.88 1.58 1.85 2.06 1.84 1.75 1.58 2.07 2.23 2.23 September 24, 2019 Item #2 Page 20 of 34 COMMERCIAL USE DESIGNATIONS Resort Hotel University Junior College PROPERTY CATEGORY IMPROVEMENT AREAi $ 2.30 2.26 2.19 All other Commercial Properties not identified above 2.14 INDUSTRIAL USE IMPROVEMENT DESIGNATIONS AREA I Heliports Industrial-Commercial Business Park All other Industrial Properties not identified above $ 10.63 2.14 1.74 OR, IN THE ALTERNATE, ANNUAL SPECIAL TAX IMPROVEMENT AREAII $ 1.98 1.91 1.90 1.44 IMPROVEMENT AREA II $ 3.67 1.51 1.42 The "Maximum Annual Special Tax -Developed Property" for any Fiscal Year shall not exceed 13.81 % of the authorized "Maximum Special Development Tax -One Time" for the various Commercial and Industrial Property categories as set forth above in the amount applicable and annually adjusted for each Fiscal Year. ANNUAL TAX INCREASE The above SPECIAL TAXES for the taxable properties are applicable for the fiscal year 1990/91, and are all subject to annual increases to reflect increases in construction costs. The Construction Cost Index of the Engineering News-Record, titled "ENR Cost Indexes in 22 Cities" will be used. The Index published for the month of April for the City of Los Angeles under the column heading of "Percentage Change from Last Year" will annually inflate each of the Maximum Annual Taxes for each year for properties as follows: B-4 September 24, 2019 Item #2 Page 21 of 34 A. PROPERTIES WITHIN THE DISTRICT: Not to exceed 50% of the above-referenced increase. 8. PROPERTIES TO BE SUBSEQUENTLY ANNEXED: Not to exceed 100% of the above-referenced increase until annexed. TERM OF TAX The above taxes shall be levied until all bonds have been discharged and facilities funded and/or guaranteed, and the SPECIAL DEVELOPMENT TAX -ONE TIME has been paid; however, the ANNUAL SPECIAL TAX -DEVELOPED PROPERTY shall not be levied for a period in excess of twenty-five (25) years per parcel. Residential: Once a building permit has been issued for Residential property and the SPECIAL DEVELOPMENT TAX -ONE TIME has been paid, the property no longer will be subject to any annual special tax. Commercial and Industrial: The Commercial and Industrial properties, upon the issuance of a building permit, have the option to (1) pay the SPECIAL DEVELOPMENT TAX -ONE TIME or (2) assume the ANNUAL SPECIAL TAX-DEVELOPED PROPERTY, as set forth above. Upon the issuance of any building permit, no further increase or escalation is authorized. ALLOCATION OF COST AND TAX Total capital costs for all authorized facilities shall be allocated as follows: 65% to Residential property, 35% to Commercial and Industrial property. The above costs exclude costs of issuance as needed. · Residential property shall be taxed in an amount sufficient to meet the 65% share of facilities, which tax will include costs of issuance, interest and other costs, including sinking fund payments for future construction as applicable. Commercial and Industrial property shall be taxed in an amount sufficient to meet the 35% share of facilities, which tax will include costs of issuance, interest and other costs, including sinking fund payments for future construction as applicable. B-5 September 24, 2019 Item #2 Page 22 of 34 COLLECTION OF ANNUAL TAX Residential: Determine monies necessary to make payment on bond debt service, replenish reserve, call bonds, pay bonds and Community Facilities District No. 1 administrative costs, and pay for public capital facilities. FIRST: Reduce this amount by the funds collected from Special Development Tax -One Time levied against residential properties. SECOND: The remaining funds needed are to be collected by the levy of the annual Special Tax -Undeveloped Property on undeveloped taxable residential acreage, in the proportional amounts of each property category as required, not to exceed the maximum authorized tax. Commercial and Industrial: Determine monies necessary to make payment on bond debt service, replenish reserve, call bonds, pay bonds, and Community Facilities District No. 1 administrative costs, and pay for current or future public capital facilities. FIRST: Reduce this amount by the funds collected from Special Development Tax -One Time and annual Special Tax -Developed Property levied against Commercial and Industrial properties. SECOND: Levy the annual Special Tax -Undeveloped Property on undeveloped taxable Commercial and Industrial acreage in the proportional amounts for each property category as required, not to exceed the maximum tax. * * * B-6 September 24, 2019 Item #2 Page 23 of 34 Re~, t:~; 0~ <"e-c) 4c.-.?t~d ~ : WHEN RECORDED, RETURN TO: CITY CLERK CITY OF CARLSBAD I 200 CARLSBAD VILLAGE DRIVE CARLSBAD, CA 92008 DOC# 2019-0439365 1 IIIH 11111 lllll 111111111111111111111111111111111111111111111111 IIII Oct 02, 2019 02:52 PM OFFICIAL RECORDS Ernest J. Dronenburg, Jr., SAN DIEGO COUNTY RECORDER FEES: $41.00 (SB2 Atkins: $0.00) PAGES: 10 AMENDMENT TO THE NOTICE OF SPECIAL TAX LIEN (NOTICE OF ANNEXATION NO. 19/20-02) Pursuant to the requirements of Section 3117.5 of the Streets and Highways Code and Section 53339.8 of the Government Code, the undersigned City Clerk of the City of Carlsbad, acting for and on behalf of Community Facilities District No. I (the "District"), State of California, HEREBY GIVES NOTICE that a lien is hereby imposed on certain real property annexed to the District to secure payment of a special tax which the City Council of the City of Carlsbad, County of San Diego, State of California, acting in its authority as the legislative body of the District, is authorized to annually levy for the following purpose: To pay for certain public capital facilities including the payment of principal and interest on bonds, said facilities generally described as follows: (I) Public facilities generally described as new I ibrary facility, major addition to an existing library building, a City Hall complex, and the addition of office and warehouse facilities at the public safety center; (2) Park improvements generally described as the Macario Canyon Park; (3) Major street improvements in portions of the following designated public streets: (a.) Faraday Avenue; (b.) Cannon Road; (c.) La Costa Avenue; (d.) Olivenhain/Rancho Santa Fe Road; and (e.) Leucadia Boulevard. (4) Major bridge and overpass facilities generally described as: (a.) La Costa Interchange; (b.) Poinsettia Interchange: and (c.) Palomar Airport Road Interchange. September 24, 2019 Item #2 Page 24 of 34 The special tax is authorized to be levied on the property described in Exhibit "A" attached hereto (the "Annexed Property") which has been annexed to Community Facilities District No. 1, and the lien of the special tax is a continuing lien which shall secure each annual levy of the special tax and which shall continue in force and effect until the special tax obligation is prepaid, permanently satisfied and cancelled in accordance with law or until the special tax ceases to be levied and a notice of cessation of special tax is recorded in accordance with Section 53330.5 of the Government Code. The rate and method of apportionment of the authorized special tax is as shown on the attached, referenced and incorporated Exhibit "B", and the 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 the same procedure, sale and lien priority in case of delinquency as is provided for ad valorem taxes. Conditions under which the obligation to pay the special tax may be prepaid and permanently satisfied and the lien of the special tax cancelled are as follows: Any special tax may be prepaid and satisfied by the payment of the maximum present value of the special tax obligation. Notice is further given that upon the recording of this notice in the Office of the County Recorder, the obligation to pay the special tax levy shall become a lien upon the Annexed Property in accordance with Section 3115 .5 of the Streets and Highways Code. The names of the owner(s) of the Annexed Property as they appear on the last secured assessment roll as of the date of recording of this Notice and the Assessor's tax parcel(s) numbers of all parcels or any portion thereof which are included within the Annexed Property are as set forth on the attached, referenced and incorporated Exhibit "A". Reference is made to the following: 1. Notice of Special Tax Lien for the original Community Facilities District recorded May 20, 1991 as Document No. 91-236959, in the Office of the County Recorder for the County of San Diego, State of California, which Notice is amended by the recordation of this document. 2. Boundary map of the original District recorded at Book 24, Page 56, Document No. 90- 674118, Maps of Assessment and Community Facilities Districts in the Office of the County Recorder for the County of San Diego, State of California. 3. Boundary map of Annexation Area No. 19/20-02 recorded at Book 48 , Page -47 , Document No. 19-7(X"OS,fo. Maps of Assessment and Community Facilities Districts in the Office of the County Recorder for the County of San Diego, State of California. For further information concerning the current and estimated future tax liability of owners or purchasers of real property subject to this special tax lien, interested persons should contact the following designated person: September 24, 2019 Item #2 Page 25 of 34 Kevin Branca, Finance Director City of Carlsbad 1635 Faraday A venue Carlsbad, CA 92008 Telephone: (760) 602-2718 DATED: Sept.ern\?x: 1,,/.P , 2019 ~f>JO :m:- Barbara Engleson, City Clerk City of Carlsbad State of California September 24, 2019 Item #2 Page 26 of 34 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 PROPERTY OWNER NAMES AND ASSESSORS PARCEL NUMBERS "EXHIBIT A" Property Owner: Steadfast Carlsbad Senior, LLC Assessor's Parcel No.: 209-060-56-00 September 24, 2019 Item #2 Page 27 of 34 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT N0.1 RA TE AND METHOD OF APPORTIONMENT EXHIBIT"B" PROPERTY CATEGORIES AND MAXIMUM TAX All taxable property within the boundaries of the Future Annexation Area shall be subject to ANNUAL SPECIAL TAXES as applicable based upon the rates as established for the original Community Facilities District No. 1 and further based upon the property categories, maximum tax rates, increases and status of the issuance of building permits, all as hereinafter set forth. Improvement Area I refers to all properties within the boundaries of the City of Carlsbad Bridge and Thoroughfare District. Improvement Area II is for all remaining properties within the Community Facilities District, not within the Bridge and Thoroughfare District. RESIDENTIAL PROPERTY ANNUAL SPECIAL TAX-UNDEVELOPED PROPERTY All taxable property prior to the issuance of a building permit shall be subject to the following maximum annual special taxes, subject to increases as set forth herein: MAXIMUM ANNUAL SPECIAL TAX -UNDEVELOPED PROPERTY PER DEVELOPABLE ACRE FOR FISCAL YEAR 1990/1991 PROPERTY CATEGORY Residential Low Residential Low to Medium Residential Medium Residential Medium to High Residential High IMPROVEMENT AREAi $ 281.00 772.00 1,294.00 1,984.00 2,793.00 IMPROVEMENT AREA II $ 277.00 760.00 1,217.00 1,868.00 2,739.00 SPECIAL DEVELOPMENT TAX -ONE TIME Upon the issuance of a building permit, all Residential properties shall be subject to the following described SPECIAL DEVELOPMENT TAX -ONE TIME, also subject to increases as set forth herein, as follows: September 24, 2019 Item #2 Page 28 of 34 MAXIMUM SPECIAL DEVELOPMENT TAX -ONE TIME PER RESIDENTIAL DWELLING UNIT FOR FISCAL YEAR 1990/1991 PROPERTY CATEGORY Residential Low Residential Low to Medium Residential Medium Residential Medium to High Residential High IMPROVEMENT AREAi $ 4,452.00 4,452.00 2,810.00 2,810.00 2,810.00 IMPROVEMENT AREA II $ 3,835.00 3,835.00 2,312.00 2,312.00 2,312.00 COMMERCIAL, INDUSTRIAL AND OTHER PROPERTY ANNUAL SPECIAL TAX -UNDEVELOPED PROPERTY All taxable Commercial and Industrial Property prior to the issuance of a building permit· shall be subject to the following maximum annual special taxes, also subject to increases as set forth herein: MAXIMUM ANNUAL SPECIAL TAX-UNDEVELOPED PROPERTY PER DEVELOPABLE ACRE FOR FISCAL YEAR 1990/1991 Commercial Property Industrial Property Agricultural Property IMPROVEMENT AREAi $ 2,400.00 1,200.00 -0- IMPROVEMENT AREA II $ 1,600.00 960.00 -0- All Commercial and Industrial Property, upon the issuance of a building permit, shall have the option to (1) pay the SPECIAL DEVELOPMENT TAX -ONE TIME or (2) assume the ANNUAL SPECIAL TAX -DEVELOPED PROPERTY for a period of not to exceed twenty-five (25} years, generally in the amounts per property category as follows: September 24, 2019 Item #2 Page 29 of 34 MAXIMUM SPECIAL DEVELOPMENT TAX -ONE TIME FOR FISCAL YEAR 1990/91 PER SQUARE FOOT OF BUILDING AREA COMMERCIAL USE DESIGNATIONS PROPERTY CATEGORY IMPROVEMENT AREAi Restaurant -Fast Food $ Outdoor Tennis Courts Convenience Market Bank with Drive-thru Campground Restaurant -Sit Down Marina Bank -Walk In Auto -Gasoline Grocery Store S & L with Drive-thru Bowling Center Restaurant -Quality Neighborhood Shopping Center Auto Car Wash S & L-Walk In Race Track Library Community Shopping Center Hospital -General Hotel -Conv. Fae/Comm. Auto -Repair & Sales Regional Shopping Center Discount Store Golf Course Church Office -Government Commercial Shops Health Club Motel Office -High Rise Office -Commercial, 100,000 SF Lumber/Hardware Store Office -Medical Hospital -Convalescent Indoor Sports Arena 28.46 28.14 27.31 18.06 17.51 15.17 14.85 12.83 8.11 7.78 7.59 6.63 6.57 6.46 6.31 5.51 5.10 4.26 4.24 3.88 3.47 3.41 3.35 3.22 3.06 2.99 2.93 2.90 2.89 2.69 2.67 2.56 2.47 2.42 2.33 2.33 IMPROVEMENT AREA II $ 7.58 7.26 6.74 5.72 4.99 4.73 4.41 4.60 2.89 2.56 3.48 2.83 3.09 2.27 2.52 3.03 2.33 2.86 1.80 3.18 2.52 1.58 1.61 1.58 2.14 1.94 1.88 1.58 1.85 2.06 1.84 1.75 1.58 2.07 2.23 2.23 September 24, 2019 Item #2 Page 30 of 34 PROPERTY CATEGORY COMMERCIAL USE IMPROVEMENT DESIGNATIONS AREA I Resort Hotel 2.30 University 2.26 Junior College 2.19 All other Commercial Properties not identified above 2.14 INDUSTRIAL USE IMPROVEMENT DESIGNATIONS AREA I Heliports Industrial-Commercial Business Park All other Industrial Properties not identified above $ 10.63 2.14 1.74 OR, IN THE AL TERNA TE, ANNUAL SPECIAL TAX IMPROVEMENT AREA II 1.98 1.91 1.90 1.44 IMPROVEMENT AREA II $ 3.67 1.51 1.42 The "Maximum Annual Special Tax -Developed Property• for any Fiscal Year shall not exceed 13.81% of the authorized "Maximum Special Development Tax -One Time" for the various Commercial and Industrial Property categories as set forth above in the amount applicable and annually adjusted for each Fiscal Year. ANNUAL TAX INCREASE The above SPECIAL TAXES for the taxable properties are applicable for the fiscal year 1990/91, and are all subject to annual increases to reflect increases in construction costs. The Construction Cost Index of the Engineering News-Record, titled "ENR Cost Indexes in 22 Cities" will be used. The Index published for the month of April for the City of Los Angeles under the column heading of "Percentage Change from Last Year" will annually inflate each of the Maximum Annual Taxes for each year for properties as follows: September 24, 2019 Item #2 Page 31 of 34 A. PROPERTIES WITHIN THE DISTRICT: Not to exceed 50% of the above-referenced increase. B. PROPERTIES TO BE SUBSEQUENTLY ANNEXED: Not to exceed 100% of the above-referenced increase until annexed. TERM OF TAX The above taxes shall be levied until all bonds have been discharged and facilities funded and/or guaranteed, and the SPECIAL DEVELOPMENT TAX -ONE TIME has been paid; however, the ANNUAL SPECIAL TAX -DEVELOPED PROPERTY shall not be levied for a period in excess of twenty-five (25) years per parcel. Residential: Once a building permit has been issued for Residential property and the SPECIAL DEVELOPMENT TAX -ONE TIME has been paid, the property no longer will be subject to any annual special tax. Commercial and Industrial: The Commercial and Industrial properties, upon the issuance of a building permit, have the option to (1) pay the SPECIAL DEVELOPMENT TAX -ONE TIME or (2) assume the ANNUAL SPECIAL TAX -DEVELOPED PROPERTY, as set forth above. Upon the issuance of any building permit, no further increase or escalation is authorized. ALLOCATION OF COST AND TAX Total capital costs for all authorized facilities shall be allocated as follows: 65% to Residential property, 35% to Commercial and Industrial property. The above costs exclude costs of issuance as needed. Residential property shall be taxed in an amount sufficient to meet the 65% share of facilities, which tax will include costs of issuance, interest and other costs, including sinking fund payments for future construction as applicable. Commercial and Industrial property shall be taxed in an amount sufficient to meet the 35% share of facilities, which tax will include costs of issuance, interest and other costs, including sinking fund payments for future construction as applicable. September 24, 2019 Item #2 Page 32 of 34 COLLECTION OF ANNUAL TAX Residential: Determine monies necessary to make payment on bond debt service, replenish reserve, call bonds, pay bonds and Community Facilities District No. 1 administrative costs, and pay for public capital facilities. FIRST: Reduce this amount by the funds collected from Special Development Tax -One Time levied against residential properties. SECOND: The remaining funds needed are to be collected by the levy of the annual Special Tax - Undeveloped Property on undeveloped taxable residential acreage, in the proportional amounts of each property category as required, not to exceed the maximum authorized tax. Commercial and Industrial: Determine monies necessary to make payment on bond debt service, replenish reserve, call bonds, pay bonds, and Community Facilities District No. 1 administrative costs, and pay for current or future public capital facilities. FIRST: Reduce this amount by the funds collected from Special Development Tax -One Time and annual Special Tax - Developed Property levied against Commercial and Industrial properties. SECOND: Levy the annual Special Tax -Undeveloped Property on undeveloped taxable Commercial and Industrial acreage in the proportional amounts for each property category as required, not to exceed the maximum tax. * * * September 24, 2019 Item #2 Page 33 of 34 CITY OF CARLSBAD COMMUNITY FACILITIES DISTRICT NO. 1 SPECIAL DEVELOPMENT TAX - ONE-TIME IMPROVEMENT AREA I VALID JULY 1, 2019 TO JUNE 30, 2020 FORMATION OR ANNEXATION DATE: RES IDENTIAL DEVELOPED LAND USE: NON NET DENSITY (0 -1.5 DU/AC) NET DENSITY (1 .51 TO 4.0 DU/AC) NET DENSITY (4.1 TO 8.0 DU/AC) NET DENSITY (8.1 TO 15.0 DU/AC) NET DENSITY (15.1 TO 23.0 DU/AC) -RESIDENTIAL LAND USE: 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 (NOTE 1) 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 RACETRACK 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 NOT IDENTIFIED ABOVE ALL OTHER INDUSTRIAL USES NOT IDENTIFIED ABOVE (NOTE 2) NOTE 1: THIS CATEGORY OF LAND USE CONTAINS PM AND CM ZONED PROPERTY. NOTE 2: THIS CATEGORY OF LAND USE CONTAINS MAND PU ZONED PROPERTY. Page 1 EXHIBIT 4 FY 2019-20 PER DU. $5,730.6258 $5,730.6258 $3,617.0392 $3,617.0392 $3,617.0392 PER SQ.FT. $1.6060 $0.6753 $1 .2496 $2.5407 $3.5764 $1 .3129 $3.4675 $0.5921 $0.5743 $0.8397 $5.4082 $0.6377 $0.6060 $1.5407 $0.5723 $2.1051 $0.4614 $0.7684 $0.6872 $0.4614 $0.4238 $0.4337 $0.8436 $0.4891 $2.9408 $0.5327 $1 .2793 $0.5070 $0.5802 $0.5287 $0.4792 $5.5726 $1 .0100 $0.6634 $0.4555 $5.6360 $1.3011 $3.0041 $1 .0912 $1.5031 $0.4476 $0.4238 $0.3446 September 24, 2019 Item #2 Page 34 of 34