HomeMy WebLinkAboutPRESENTATION-CREATION OF COMMUNITY FACILITIES DISTRICT - 13-01
March 1, 2004 the City’s Mellos-Roos Goals &
Policies were adopted and staff were
authorized to form Community Facility
Districts (CFD) to develop the former Marine
Corps Air Station know as Tustin Legacy.
As of today, the City has formed three CFDs,
2004-1, 2006-1 and 2007-1 in the Tustin
Legacy area that funded infrastructure and
funds services.
Reasons for the establishment of CFD 13-01:
A CFD for the Service Tax must be formed
as a DDA condition prior to conveyance of
both The Irvine Company and St. Anton
projects.
Levy of a special tax that will cover services
such as police and fire protection,
ambulance and paramedic, recreation
programs, park, sidewalk and street
maintenance.
tax levy for Services is15% of the 1%
Special
assessed value and is consistent with what
the other CFDs with Tustin Legacy are levied.
The special tax is necessary because the City
only receives 3% of the 1% basic property tax
levy within Tustin Legacy compared to an
average of 10.5% collected citywide.
TABLE 2
1
TABLE
PERMITTED PROPERTY
DEVELOPED PROPERTY
SPECIAL TAX RATES
MAXIMUM SPECIAL TAX RATES
Maximum
Maximum
Land Use Type
Land Use Type
Special Tax
Special Tax
Residential Property
Residential Property
$346 per
$346 per
Residential
MFR Property
MFR Property
Residential Unit
Unit
Affordable Unit –$346 per
$346 per
ModerateResidential Unit
Residential
Affordable Unit –Moderate
Affordable Unit –LowN/A
Unit
Affordable Unit –Very
Affordable Unit –LowN/A
N/A
Low
Affordable Unit –Very LowN/A
Public Property$0.29 per BSF
Public Property$0.29 per BSF
Non-Residential
Property
Non-Residential Property
Commercial Property$0.35 per BSF
Commercial Property$0.35 per BSF
Office Property$0.29 per BSF
Office Property$0.29 per BSF
Non-Conforming
$0.35 per BSF
Property
Non-Conforming Property$0.35 per BSF
The special tax levy commences Fiscal Year
2013-14 and each subsequent following
fiscal year the tax shall be increased by 2%.
Special taxes levy will have its own fund to
account how funds are spent and to create a
sinking fund for funds not spent to be used
for future maintenance projects if applicable.
Staff requests that City Council accept and
ratify the Petition to Create a Community
Facilities District requested by the landowner,
the City.
Adopt Resolution No 13-14 a Resolution of
the City Council of the City of Tustin,
California of Intention to Establish a
Community Facilities District and to
Authorize the Levy of Special Taxes.
The Public Hearing to adopt the CFD will be
held April 16, 2013 due to a 45 day
requirement in the Mello-Roos Statue.