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HomeMy WebLinkAboutFin Loch Lomond 10 Tax Rate; 2014-15Department: FINANCE Prepared by: Mark Moses e Finance Director 'Agenda Item Meeting Date: Malt� 5,2014 City Manager Approv ALL TAXABLE PROPERTY WITHIN THE COMMUNITY FACILITIES DISTRICT NO. 1992-1 (LOCH LOMOND #10) RECOMMENDATION: Adopt resolution setting tax rates for the Loch Lomond District for fiscMl year 2014-15, until further revised. BACKGROUND: When the City Council and landowners worked to establish the Community Facilities District 1992-1 (more commonly known as Loch Lomond #10), the Council also took steps to approve the creation of a special tax to support the necessary operating costs and reserves. The special tax is collected to maintain a self-insurance liability reserve and to provide monies for administrative, maintenance and incidental expenses associated with operating the District. Annually, staff reviews District activity, and prepares a resolution setting the special tax rates. Although action may not always be formally required by the City Council to levy the taxes against the District properties, the City has preferred to bring this item forward publicly. ANALYSIS: The Council approved Ordinance No. 1683 several years ago which provides that the tax rate be subject to the formulas in Resolution 9648. Based upon the amounts collected to date, and anticipated future needs,, the current rate of $578 for each of the 27 assessable parcels is sufficient. This rate has remained in place since July 1, 2011, and comprises $435 per parcel for maintenance activities and $143 per parcel for maintaining fire and drainage access. The funding for the self-insurance reserve has a balance of $500,000, consistent with the target amount; therefore no additional levies are required for this set-aside. The total levies will generate $15,606 in taxes. Although the self-insurance set-aside has reached the maximum and will no longer be levied until or unless a valid claim reduces the reserve, the assessments for maintenance activities and for fire and drainage access expenses will continue to be levied. Recent activities include silt basin debris clean up and minor repairs at three of the FOR CITY CLERK ONLY F *11 e No.. 0 Council Meeting-. G/.,)- o I Disposition,., 61*1 V. to headwalls located at Las Casas Drive. During fiscal year 2014-2015, the Public Works Department is plannim4 to inspect the drainage system, remove debris and material to prepare for the next rainy season and perform contractual work and oversight. No major repairs are anticipated. FISCAL IMPACT: This action will provide the County Auditor Controller the necessary documentation to initiate Fiscal Year 2014-15 Loch Lomond levies consistent with budget projections for Fiscal Year 2014-15. A full listing of the parcels levied is attached to this report. A Resolution has been prepared which confirms the Fiscal Year 2014-15 rate at $578 per parcel. There is no fiscal impact to the City's General Fund as a result of this action. ACTION R]EQUIRIED: Staff recommends the City Council approve the report and adopt the Resolution as presented. ATTACHMENT A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAFAEL SETTING THE DISTRICT TAX FOR LOCH LOMOND #10 FOR FISCAL YEAR 2014-15 AT $578 PER PARCEL, EXCEPTING EXEMPT ASSESSOR PARCEL NOS, 16-330-12913,14. WHEREAS, the City Council of the City of San Rafael by Resolution No. 8839 formed "Community Facilities District No. 1992-1 Loch Lomond 410City of San Rafael, County of WHEREAS, the landowners of CFD 1992-1 voted in a mail ballot election called by the City'Council by Resolution No. 8840, and unanimously approved the imposition of a special WHEREAS, on March 9, 1993, the City of San Rafael prepared and filed a Notice of Special Tax Lien for all of the parcels within the CFD 1992-1, which included the facilities and services to be funded by the tax, and method for establishing a rate and calculating the apportionment of the tax; ami WHEREAS, Ordinance 1683 provides that the rate will be set by resolution, subiect to the NOW THEREFORE BE IT RESOLVED that the City Council of San Rafael does hereby set the special tax for Loch Lomond #10 at $578 per parcel for fiscal year 2014-15, excepting exempt Assessor Parcel Nos. 16-330-12,13,14, as provided in Exhibit "Aattached hereto and incorporated herein. I, ESTHER C. BEIRNE, Clerk of the City of San Rafael, hereby certify that the foregoing resolution was duly and regularly introduced and adopted at a regular meeting of the City Council of said City held on Monday the 5th day of May 2014, by the following vote, to wit: AYES: COUNCILMEMBERS: Bushey, Colin, Connolly, McCullough & Mayor Phillip,2. I ESTHER C. BEIRNE, City Clerk Loch Lomond #10 Mello Roos District Exhibit A Assessment Fiscal Year 2014-2015 Assessors Parcel # Assessment 1 16-321-01 $578.00 2 16-321-02 $578.00 3 16-321-03 $578.00 4 16-321-04 $578.00 5 16-321-05 $578.00 6 16-321-06 $578.00 7 16-321-07 $578.00 8 16-321-08 $578.00 9 16-321-09 $578.00 10 16-321-10 $578.00 11 16-322-01 $578.00 12 16-322-02 $578.00 13 16-322-03 $578.00 14 16-322-04 $578.00 15 16-322-05 $578.00 16 16-322-06 $578.00 17 16-322-07 $578.00 18 16-330-01 $578.00 19 16-330-02 $578.00 20 16-330-03 $578.00 21 16-330-04 $578.00 22 16-330-05 $578.00 23 16-330-06 $578-00 24 16-330-07 $578-00 25 16-330-08 $578.00 26 16-330-10 $578.00 27 16-330-11 $578.00 16-330-12 0.00 16-330-13 0.00 16-330-14 0.00 INSTRUCTIONS: USE THIS FORM WITH EACH SUBMITTAL OF A CONTRACT, AGREEMENT, ORDINANCE OR RESOLUTION BEFORE APPROVAL BY COUNCIL / AGENCY. SRRA / SRCC AGENDA ITEM NO. 4. c DATE OF MEETING: May 5, 2014 FROM: Mark Moses DATE:DEPARTMENT: Finance April 22, 2014 TITLE OF DOCUMENT: A RESOLUTION SETTING THE TAX RATE FOR YEAR 2014-15 ON ALL TAXABLE r. r . FACILITIES DISTRICT 1992-1 #10) s s • ♦, . ♦ r r . iWILULM '1182m APPROVED AS COUNCIL / AGENCY AGENDA ITEM: r w REMARKS: APPROVED AS TO FORM: City Attorney (signature)