HomeMy WebLinkAboutPOWERPOINT PRESENTATION - PUBLIC HEARING FOR CFD NO. 2014-1City of Tustin
Public Hearing.
Hold Public Hearing and
Election for the City of Tustin
Establishing Community
Facilities District No. 2014 -1
Public Hearing Establishing CFD 2014 -1
March 1, 2004, the City's Mello -Roos Goals & Policies were
adopted and staff was authorized to form Community Facility
Districts (CFD) to develop the former Marine Corps Air Station
known as Tustin Legacy.
The Community Facility Districts provide a mechanism to help fund
necessary infrastructure improvements and services.
There are currently four established CFD's ( CFD 04 -1, CFD 06 -17
CFD 07 -1 and CFD 13 -1) in the Tustin Legacy area that fund
infrastructure and /or services.
The establishment of CFD 2014 -1 is for special taxes to cover
facilities and services.
I
Public Hearing Establishing CF® 2®141 Continued
The special taxes will cover backbone facilities and
infrastructure and school district facilities (Special Tax A)
and services (Special Tax 6) such as maintenance of
streets, sidewalks, parks and public safety. The taxes are
based on the newly constructed dwellings' square footage
and combined, do not exceed 2% of the assessed value.
The Special Tax 6 is necessary because the City only
receives 3% of the basic levy (1.0 %) of property tax
revenue assessed at Tustin Legacy compared to an
average of 10.5% collected citywide.
91
Public Hearing Establishing CFD 2014 -1 continued
The proposed maximum special taxes are as follows:
DEVELOPED PROPERTY
MAXIMUM SPECIAL TAX RATES
Land Use Residential Floor Assigned Special Maximum
Class Description DU /Acre Area Tax A Special Tax B
1 Single Family Residential Property
DU
> 3,530 s.f
$4,997
$1,522
2 Single Family Residential Property
DU
3,210 — 3,529 s.f
$4,675
$1,425
3 Single Family Residential Property
DU
2,890 — 3,209 s.f
$4,308
$1,314
4 Single Family Residential Property
DU
2,570 — 2,889 s.f
$3,822
$1,164
5 Single Family Residential Property
DU
2,250 — 2,569 s.f
$3,346
$1,020
6 Single Family Residential Property
DU
< =2,250 s.f
$2,819
$860
7 Single Family Residential Property
Acre
N/A
$47,492
$14,475
8 Single Family Residential Property
Acre
N/A
$47,492
$14,475
11
Public Hearing Establishing CFD 2014 -1 Continued
► The special tax levy commences in Fiscal Year 2014-
1 5 and each subsequent following fiscal year the tax
shall be increased by 2 %.
► The future bond indebtedness not to exceed $29
million includes the financing of construction of
school district facilities for Tustin Unified School
District (TUSD).
5
Public Hearing Establishing CFD 2014 -1 Continued
CFD 14 -1 Boundary Map
PROPOSED BOUNDARY MAP
FILM Ir THE OFFICE ODE OF CIMK Or TITE COMMUNITY FACILITIES DISTRICT NO. 2014.1
QTY OF TUSTIN THES DAY OF �m +q. (TUSTIN LEGACY / STANDARD PACIFIC)
9.1 G /�� U CITY OF TUSTIN, COUNTY OF ORANGE,
PARIIER,arvCLO C STATE OF CALIFORNIA
F TITS
I HEREIN fFRTFY THAT THE WITHIN MAP SHOWING
6E
FR0P0D GoUNDARMS OF THE CITY OF TUSTIN
COMMUNITY FAO[ITIES 05TRILT HD. 2D14-1 (TUSTIN
LEGACY / STANDARD PACK) , COUNTY OF ORANGE.
57AT OF CALIFORNIA, WAS APPROVED eY THE QTY
COUNCIL OF THE QTY OF TUSTIN AT A REQJLAR
MEETING THEREOF HELD ON THE W� DAY OF
er RESOLUTTDIN Noy�7p��
] G ARKEA, CITY CLERK
N
Q
uNO.N.
CFO +4+
MLED THo �tt DAY or 4111 2013
AT THE -MR Of NY PL OYYOO( Q.M IN BDDR 9"
OF MAPS OF ASSESSMENT AND COMMJNEIY
FACILITIES DISTRICTS AT PAGE
AT THE REQUEST OF THE Om OF TUSTIN IN THE
OFFICE OF THE COUNTY RECORDFR CF THE COLFITY
OF DRANO, STATE OF m1FORTRA.
FEE:
INST. NO.: T-o T�ODU ItlV %�i
=WMMIiTAfe fl�LLMtrl
Jon ODIINTY CLERor - -RECORDER
i
UY DfPUTY
ODIMTV CLERK RECORDER
COLWTY OF ORANCt
THE LINES AND OIMPHSIOH OF EACH LOT OR PARCEL
SHOWN ON THIS MAP SHALL IIE THOSF LINES AND
PIMENSIONS AS SHOWN ON THE ORANGE CUTINIY
ASSESSOR'S MAPS FOR THOSE PARCELS LISTED
THE ORANGF COUm ASSESSORS MARS SHALL GOVERN
FOR ALL DETAILS CONCERNING THE LINES AND DIMENSIONS
OF SUCH LOTS 04 PARCELS.
LEGEND
�rl 5111 -1-1
/NN'��
R
W.O. IIORN9
101
Public Hearing Establishing CFD 2014 -1 Continued
Staff recommends City Council:
Receive and file the CFD report.
Conduct a public hearing.
Adopt
Resolution No. 14 -40
authorizing the
establishment of CFD
2014 -1
and authorizing the
Levy of Special
Taxes within the District.
Adopt Resolution No. 14 -41 calling a special election for CFD 2014 -1.
Vote to approve the proposition authorizing the levying of the 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 No. 14 -42 declaring the results of the election and
directing the recording of Notice of Special Tax Lien.
Approve the first reading of Ord. No. 1445 levying special taxes within
CFD 14 -1.
Public Hearing Establishing CFD 2014 -1 Continued
Following the public hearing, the proposed
schedule to complete the formation of CFD 2014 -1
is as follows:
July 1, 2014: Second Reading of Ord. No. 1445
authorizing the special tax levy.
July 15, 2014: Ord. No. 1445 goes into effect.
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