HomeMy WebLinkAboutPOWERPOINT PRESENTATION - CFDCity of Tustin
Public Hearing.
Hold Special Election for
City of Tustin Establishing.
Community Facilities
District No. 13-01
Public Hearing Establishing CFD 13-01
March 1, 20047 City Council adopted the City's Mello -Roos Goals &
Policies to proceed with the formation of Community Facility
Districts (CFD) for the former Marine Corps Air Station now known
as Tustin Legacy.
The Community Facility Districts provide a mechanism to help fund
necessary infrastructure improvements and services.
There are currently three established CFD's ( CFD 04-1, CFD 06-1
and CFD 07-1) in the Tustin Legacy area that include a special tax
to cover services.
The establishment of CFD
13-01
is for a special tax
to cover
services. The tax rate and
its
use is consistent with
CFD 04-1, CFD
06-1 and CFD 07-1.
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Public Hearing Establishing CFD 13-01 Continued
The reason for the special tax is because the City only
receives 3% of the basic levy (1.0%) of property tax
revenue assessed at Tustin Legacy compared to 10.5%
collected citywide.
The special tax will fund the following services:
Police protection
Fire protection
Ambulance and paramedic services
Maintenance of parks, open space, streets and sidewalks
Provide flood and storm drain systems maintenance and
operations
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Public Hearing Establishing CFD 1301 continued
Only developed property will be subject to the special tax.
Developed property maximum special tax rates are:
Multi Family Residential $346 per Residential Unit
Affordable Unit —Moderate: $346 per Residential Unit
Public Property: $0.29 per Building Square Footage(BSF)
Commercial Property: $0.35 per BSF
Office Property: $0.29 per BSF
Non -conforming Property: $0.35 per BSF
Each subsequent Fiscal Year following Fiscal Year 2013-
2014, the Maximum Special Tax shall be increased by 2%.
11
Public Hearing Establishing CFD 1301 Continued
CFD 13-01 Boundary Map
Public Hearing Establishing CFD 13-01 Continued
Staff recommends City Council:
Receive and file the CFD report.
Conduct a public hearing.
Adopt Resolution 13-28 authorizing the formation of CFD 13-01 and
authorizing the Levy of Special Tax within the District.
Adopt Resolution 13-29 calling a special election for CFD 13-01.
Vote to approve the proposition authorizing the levying of a special tax
and authorize the Mayor to cast the City's vote and direct the City clerk
to open ballots and announce the results.
Adopt Resolution 13-30 declaring the results of the special election and
directing the recording of Notice of Special Tax Lien.
Approve the first reading of Ord. No. 1431 levying special taxes within
CFD 13-01.
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Public Hearing Establishing CFD 1301 Continued
Following the public hearing, the proposed
schedule to complete the formation of CFD 13-01
is as follows:
May 21, 2013: Second Reading of Ord. No.
1431 authorizing the special tax levy.
June 20, 2013: Ord. No. 1431 goes into effect.