HomeMy WebLinkAboutCT 94-01; Poinsettia Shores; Tentative Map (CT) (9)City of Carlsbad
Finance Department
April 7, 1994
Brian Murphy
KAIZA POINSETTIA CORP.
7220 Avenida Encinas, Suite 200
Carlsbad CA 92009
POLICY 33 COMMITTEE RECOMMENDATIONS
The Project Review Committee for Policy 33 has reviewed your request for formation of
an assessment district to finance the construction of portions of Avenida Encinas and
certain drainage facilities. The following are the recommendations of the Committee.
Facilities to be Included
In order to qualify for public financing, the Committee recommends that Avenida Encinas
be constructed to full secondary arterial standards from Carlsbad Boulevard to its current
terminus. This would involve a 64 foot curb to curb width with sidewalks behind curb in
developed portions. The bridge over the railroad would require a minimum width of 58
feet curb to curb to accommodate 4 travel lanes and 2 bike lanes plus 5 foot sidewalks
behind curb on each side. A full 64 foot section throughout would be most desirable.
To provide adequate local access to the Ponto Storage area and to qualify the drainage
structures for the public financing, it is recommended that the district incorporate the
demolition and reconstruction of the Ponto interchange and construction of an additional
signalized intersection approximately 1000 feet northerly of the proposed Avenida Encinas
intersection with Carlsbad Boulevard Reconstruction of the Ponto Interchange should
incorporate a realignment of Carlsbad Boulevard and construction of a minimum of two
northbound travel lanes and adequate shoulders in the new alignment.
Assessment Spread
Each parcel will be assessed for only its fair share of the improvements. The costs
attributed to any previously-developed parcels will need to be paid upfront by the
undeveloped property owners.
Full frontage improvements to Carlsbad Boulevard fronting the Kaiza property should be
a consideration in the assessment spread.
1200 Carlsbad Village Drive • Carlsbad, CA 92008-1989 • (619) 434-2867 • FAX (619) 434-1987
Kaiza Poinsettia Corp.
April?, 1994
Page Two
Value to Lien Ratios
Value to Lien ratios will be required to be at least 3:1 on a parcel by parcel basis. If, after
a current appraisal is performed, these ratios are not met on some parcels, the
assessments on those parcels would be required to be "bought down" by the property
owners.
Please let me know if you have any questions regarding these recommendations. If you
would like to have us proceed with the Assessment District formation process, please
provide me with an update to the Preliminary Feasibility Study incorporating the changes
outlined above. Once this is received we will draft an Agenda Bill for Council
consideration authorizing staff to proceed with the hiring of bond counsel, financial
advisor, assessment engineer, and any other financing team members. In addition, we
will ask Council to direct the preparation of an appraisal and final feasibility study.
Following Council action the property owners will be required to deposit funds with the
City to cover the cost of these services.
Please feel free to contact me if you have any questions regarding this process.
Sincerely,
LISA HILDABRAND
Finance Director
LH:emr
c: /Financial Management Director
^Planning Director
City Engineer
Associate Engineer, Steve Jantz
Doug Avis, Benchmark Pacific
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