HomeMy WebLinkAboutReso 2012-206RESOLUTION NO. 2012-206
RESOLUTION OF THE CITY COUNCIL OF THE CITY OP
CHULA VISTA ACCEPTING THE DEFERRAL OF
ASSESSMENTS; ESTABLISHING THE RATE OF INTEREST
AT FIVE PERCENT (5%) PER YEAR, WITH A MAXIMUM
FINANCING PERIOD OF TEN YEARS; AND APPLYING.
SUCH INTEREST RATE AND DEFERRAL PERIOD TO ALL
DEFERRALS FOR ELM AVENUE ASSESSMENT DISTRICT
2010-02
WHEREAS, pursuant to Resolution No. 2011-056 adopted on April O5, 2011, the City
Council accepted a petition requesting the formation of an Assessment District for Elm Avenue
between Naples Street and Oxford Street for the purpose of financing the construction of
sidewalk improvements; and
WHEREAS, on September 20, 2011, Council adopted Resolution No. 2011-183 and
approved the Preliminary Engineer's Report, adopted a map showing the proposed boundaries
for Assessment District No. 2010-02 (Elm Avenue), set the time and place for a public hearing,
and ordered the initiation of Assessment Ballot proceedings; and
WHEREAS, on September 21, 2011, ballots and ballot materials were mailed to property
owners, and owners were informed that the ballots needed to be received by the City Clerk's
office prior to 4:00 p.m. on November 15, 2011; and
WHEREAS, on November 15, 2011, a public hearing was held, and the ballots remained
sealed; and
WHEREAS, there was no public testimony, so the hearing was closed and ballots were
tabulated; and
WHEREAS, since more than 50% of the property owners voted in favor of the proposed
assessment, City Council certified the results of the public hearing and assessment district ballot
tabulation, ordered the construction of the improvements, and ordered a final assessment
Engineer's Report to be prepared pursuant to Resolution No. 2011-224, adopted on November
15, 2011; and
WHEREAS, City staff advertised and obtained sealed bids as part of a formal bidding
process for the construction of the improvements and awarded a contract in the amount of
$520,075 to the low bidder, Tri-Group Construction and Development, Inc., pursuant to
Resolution No. 2012-007 on January 24, 2012; and
WHEREAS, the construction of the improvements is complete; and
Resolution No. 2012-206
Page No. 2
WHEREAS, of the total construction costs, only the costs of the concrete driveways and
private improvement relocation aze to be assessed to the property owners; and
WHEREAS, not all the assessments have been fully paid and the City can collect the
unpaid balance over a maximum period of ten years, together with interest on the unpaid
principal at a rate not to cxceed seven percent per yeaz (7%); and
WHEREAS, City staff proposes to chazge five percent interest (5%) for a period of ten
years on the unpaid balances of the assessments.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chula Vista
that it accepts the deferral of the assessments; establishes the rate of interest at five percent (5%)
per yeaz, with a maximum financing period of ten yeazs; and applies such interest rate and
deferral period to all deferrals for Elm Avenue Assessment District 2010-02.
Presented by
Richar . Hopki
Director of Publi Works
Approved as to form by
'~
G n R. Go gins
Cit ey
Resolution No. 2012-206
Page No. 3
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 6th day of November 2012 by the following vote:
AYES: Councilmembers: Aguilaz, Bensoussan, Castaneda, Ramirez and Cox
NAYS: Councilmembers: None
ABSENT: Councilmembers: None
ATTEST:
Donna R. Norris, C C, City Clerk
STATE OF CALIFORNIA
COUNTY OF SAN DIEGO
CITY OF CHULA VISTA
Cheryl Cox, or
I, Donna R. Norris, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2012-206 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 6th day of November 2012.
Executed this 6th day of November 2012.
/ "~ (/i ~ f,~--l
Donna R. Norris, CMC, City Clerk