HomeMy WebLinkAboutReso 2000-092 RESOLUTION NO. 2000-092
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA APPROVING THE DEFERRAL OF
ASSESSMENTS AND ESTABLISHING CRITERIA TO QUALIFY
FOR DEFERRAL FOR ASSESSMENT DISTRICT 97-01
WHEREAS, the improvements for Assessment District 97-01 were financed by the City and
AD 97-01 was formed pursuant to the 1911 Block Act to obtain reimbursement for the improvement
and other miscellaneous costs in accordance with Council Policy Number 505-01; and
WHEREAS, the Act is a financing mechanism which authorizes local agencies to impose
assessments on benefitting properties to fund the construction of public improvements; and
WHEREAS, the property owners have an option of paying local assessments during the 30
day pay-offperiod following confirmation of assessments and if the assessments are not paid during
that time or are deferred, the City will collect the unpaid balance in semiannual installments over a
period of ten years at an interest rate of 7% per annum; and
WHEREAS, property owners may pay the balance of their assessments at any time during
the ten year repayment period without penalty; and
WHEREAS, in response to property owner's concerns, staff prepared three payment
altematives which were presented to Council on July 15 and July 22, 1997:
Alternative 1 is the standard plan most property owners use to spread payments over
10 years at 7 percent interest.
Altemative 2 provides for semi-annual payments of interest only over 10 years, with
the principal due at the end of 10 years or when the property changes ownership.
Alternative 3 provides for one balloon payment of both principal and interest at the
end of 10 years or upon change of ownership.
WHEREAS, it is recommended that Altematives 2 and 3 be offered only to property owners
meeting the criteria set forth below; and
WHEREAS, ifapproved, staff will receive and review deferral applications during May 2000
and if any property owner within the district meets one of the financial criteria, an Alternative 2 or
3 deferral agreement will be prepared and brought before City Council for approval; and
WHEREAS, in accordance with the provisions of Chapter 13 of the Improvement Act of
1911 of the Streets and Highways Code of the State of California, any deferral of assessments shall
be approved by a Council Resolution.
NOW, THEREFORE, BE IT RESOLVED the City Council of the City of Chula Vista does
hereby approve the deferral of assessments for Assessment District 97-01 for improvements to
Oxford Street from Fourth Avenue to Fifth Avenue in the City of Chula Vista.
BE IT FURTHER RESOLVED that the City Council does hereby establish the following
criteria to qualify for an Altemative 2 or 3 deferral:
Resolution 2000-092
Page 2
1. An income less than or equal to the HUD Very Low Income Standards as contained
in the City's Master Fee Schedule; or
2. A demonstrated financial hardship approved by Council (For example, a senior
citizen, retired, and unable to pay the assessment).
Presented by Approved as to form by
orks Director ~mey
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
Califomia, this 21st day of March, 2000, by the following vote:
AYES: Councilmembers: Davis, Moot, Salas, and Horton
NAY S: Councilmembers: None
ABSENT: Councilmembers: Padilla
Mayor
ATTEST:
Susan Bigelow, City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Susan Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2000-092 was duly passed, approved, and adopted by the City Council at a regular
meeting of the Chula Vista City Council held on the 21 st day of March, 2000.
Executed this 21 st day of March, 2000.
Susan Bigelow, City Clerk