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HomeMy WebLinkAbout2007/01/09 Item 7 CITY COUNCIL AGENDA STATEMENT ~~f:. Cl1Y OF , - -- (HULA VISTA 01/09/07 Item -q. ITEM TITLE: PUBLIC HEARING REGARDING ANNEXATION OF TERRITORY, Al'lNEXATION NO. 6 (OTAY RANCH VILLAGE TWO), TO COMMUNITY FACILITIES DISTRICT NO. 97-2 (PRESERVE MAINTENAl'lCE DISTRICT). SUBMITTED BY: REVIEWED BY: RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA, CALIFORNIA, ACTING AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 97-2 (PRESERVE .MAINTENANCE DISTRICT), MAKING CERTAIN DETERMINATIONS AND AUTHORIZING SUBMITTAL OF LEVY OF SPECIAL TAXES TO THE QUALIFIED ELECTORS OF CERTAIN TERRITORY, ANNEXATION NO.6 (OTAY RANCH VILLAGE TWO), PROPOSED TO BE Al'lNEXED TO SUCH COMMUNITY FACILITIES DISTRICT. CITY ENGINEER.};2 // INTERIM CITY MANAGER rjl 4/5THS VOTE: YES NO X BACKGROUND On November 21,2006, the City Council initiated the Community Facilities District No. 97-2 (Preserve Maintenance District) ("CFD No. 97-2") annexation proceedings by adoption of Resolutions 2006-347 and 2005-348. Tonight's action is the next step in the formal proceedings to annex the territory within Otay Ranch Village Two into Improvement Area C of CFD No. 97-2. Improvement Area A funds the costs of the Resource Monitoring Program as well as Preserve Operations and Maintenance. Improvement Area B only funds the Resource Monitoring Program. Special taxes levied within Improvement Area C fund the costs of the Resource Monitoring Program as well as Preserve Operations and Maintenance consistent with the requirements of the Otay Ranch Resource Management Plan Phases I and II, plus a pro-rata share of Administrative Expenses ofCFD No. 97-2. Otay Ranch Village Two will not be annexed 7-1 01109/07, Iteml Page 2 of 5 into Improvement Area A or Improvement Area B. The City has retained the services of MuniFinancial as special tax consultant and Best, Best, and Krieger, LLP, as legal counsel to provide assistance during the proceedings. ENVIRONMENTAL REVIEW The Environmental Review Coordinator has reviewed' the proposed actIvIty for compliance with the California Environmental Quality Act (CEQA) and has determined that the activity is not a "Project" as defined under Section 15378 of the State CEQA Guidelines because the creation of government funding mechanism is not considered a project; therefore, pursuant to Section 15060(c)(3) of the State CEQA Guidelines the activity is not subject to CEQA. Thus, no environmental review is necessary. RECOMMENDATION That Council: I. Open the Public Hearing and receive testimony from the public, 2. Close the Public Hearing, 3. Approve the resolution making determinations and authorizing submittal of levy of special taxes to the qualified electors of certain territory proposed to be annexed to CFD No. 97-2. BOARDS/COMMISSION RECOMMENDATION Not Applicable DISCUSSION In July 1998, Council formed Community Facilities District No. 97-2 (Preserve Maintenance District). CFD No. 97-2 was originally divided into two Improvement Areas, Improvement Area A and Improvement Area B, that were designated when CFD No. 97-2 was formed. Special taxes levied within Improvement Area A fund the costs of the Resource Monitoring Program as well as Preserve Operations and Maintenance within the initial boundaries of the Otay Ranch Preserve. Special taxes levied within Improvement Area B only fund the Resource Monitoring Program within that same area. Special taxes levied within Improvement Area C pay for both Preserve Operations and Maintenance and the Resource Monitoring Program consistent with the requirements of the Otay Ranch Resource Management Plan Phases I and II plus a pro-rata share of Administrative Expenses of CFD No 97-2. It is necessary to annex territory into Improvement Area C ofCFD No. 97-2; as such boundaries may be modified from time to time. Territorv Proposed to be Annexed The proposed boundaries of the territory proposed to be annexed to CFD No. 97-2 encompass the parcels located within the Otay Ranch Village Two, an Urban Village of approximately eight-hundred and eleven (810.9) acres located south of Olympic Parkway between TI.lture Heritage Road and La Media Road, and north of Wolf Canyon (see Exhibit "B", Otay Ranch Village Two Vicinity Map). Otay Project, LP., Otay Ranch 7-2 01109/07, Item T Page 3 of5 Investments, LP, Rancho Mesa, LP, the City of San Diego, and seventeen other entities own the property within the proposed annexation. Otay Ranch Village Two is proposed to contain approximately 1,310 single-family detached homes and 1,476 multi-family units (365.60 residential acres), industrial areas (94.70 acres) and a commercial area (12.50 acres), a public school (10.30 acres), three neighborhood parks (15.40 acres), one community park (44.60 acres), and several Comm1.mity, Purpose Facility CCPF") properties (6.30 acres). The Otay Landfill area located to the. southwest of the village will be excluded from the armexation. The City Council previously approved an armexation boundary map for this territory, identified as Annexation Map No.6, CFD No. 97-2 (Preserve Maintenance District), Improvement Area C. A reduced copy of the map is presented in Exhibit "C". Proposed S1;Jecial Tax The rate and method of apportionment of the special taxes authorized to be levied within the existing boundaries ofCFD No. 97-2 has five categories oftaxation, as follows: 1. Developed Parcels (Single Family and Multi-Family Residences) are taxed based on the square footage of the stmcture. 2. Industrial and Commercial Parcels are taxed on the acreage of the parcel. Developed Parcels are those parcels for which a building permit has been issued. 3. The Final Mapped properties, which include all single-family residential and multi-family residential parcels and all industrial and commercial parcels for which a building permit has not been issued, are taxed on acreage of the parcel. 4. Property not categorized as Developed or Final Mapped Property is taxed on acreage of the parcel. 5. The Exempt Category includes all publicly ovvned parcels and Homeowner's Association parcels. The Rate and Method of Apportionment for Annexation No. 6 uses the same methodology and maximum special tax rates as contained in the original rate and method . of apportionment approved at the time of formation of Improvement Area C of CFD No. 97-2. Collection of Taxes At the beginning of each fiscal year the administrator of CFD No. 97-2 shall determine the amount of the Special Tax Liability (budget plus reserve) of each Improvement Area. Then, the special taxes will first be levied within each of the Improvement Areas on the Developed Parcels therein to fund the Special Tax Liability for such Improvement Area. Ifthis pool of funds is not enough to fi.md the Special Tax Liability for such Improvement Area, as may be the case in the early years of development, CFD No. 97-2 will levy the special tax on the vacant land within such Improvement Area starting with Final Mapped Property. The buffer of having the vacant land covering any portion of the Special Tax Liability not funded from special taxes levied on Developed Parcels within an Improvement Area will disappear once the Improvement Area has been fully developed. If the Special Tax Liability for any fiscal year for an Improvement Area is less than the maximum special ta"\ authorized to be levied on the Developed Parcels within such 7-3 ~ 01/09/07, Item -:::;. Page 4 of 5 Improvement Area, the actual rate of the special taxes to be levied on such Developed Property in that specific year will be reduced accordingly. Following is a brief discussion of some key issues regarding the "Rate and Method of Apportionment (Ri\1A) of Special Taxes" proposed to be established for territory proposed to be annexed to CFD No. 97-2, Improvement Areil C: (See Exhibit "A" for full description ofRi\1A): . The Maximum Special Tax Rates increase each year by a factor equal to the annual percentage change in the Consumer Price Index. The RMA provides that the annual budget for any year may include an amount deemed necessary to maintain an adequate level of this operating reserve fund. The maximum special tax rates are based on the original Rate and Method of Apportionment of special taxes established for Improvement Area C of CFD No. 97-2 when Improvement Area C was formed. If the actual square footage of residential development and/or the acreage of non-residential (industrial and commercial) development within Improvement Area C meets or exceeds the projections on which the special tax rates were based, the achlal special tax rate necessary to be levied annually within Improvement Area C to fund the Special Tax Liability for Improvement Area C may be less than the authorized maximum special tax. Ap1;Jroved Maximum S1;Jecial Taxes The approved maximum and actual special tax rates for fiscal year 2006/07 for Improvement Area C ofCFD No. 97-2 are as follows: Table 1. Maximum Special Tax for Monitoring Special Tax Category Maximum Special Tax (Monitorino $0.0062 $101.1797 $101.1797 $65.3004 Table 2. Maximum Special Tax for Operations & Maintenance Special Tax Category Maximum Special Tax (0 erations & Maintenance) $0.0099 $160.6303 $160.6303 $103.6696 7-4 01/09/07, Item -::; Page 5 of5 Resolution There is one resolution on today's agenda, which, if adopted, will accomplish the following: The RESOLUTION MAKING DETER1\1INATIONS is the formal action of the City Council making certain findings and determinations pertaining to the annexation of Otay Ranch Village Two to CFD No. 97-2, Improvement Area C, and authorizes the electors of such territory to vote on the authorization to levy special ta.,es within such territory. DECISION MAKER CONFLICT Staffhas reviewed the property holdings of the City Council and has found no property holdings within 500 feet of the boundaries of the property which is the subject of this action. FISCAL IMP ACT All costs of the annexation to the district are being paid by the developers and the on- going administration of the CFD will be nmded entirely by CFD No. 97-2. The City will recover the full cost for staff time involved in the annexation from the developer and full cost of stafftime for administration of CFD No. 97-2 from the CFD, in perpetuity. EXHIBITS: A. Rate and Method of Apportiornnent B. Otay Ranch Village Two Vicinity Map C. Annexation Map Prepared by: Boushra Salem, Senior Civil Engineer, Engineering Department J:\Engilleer',A GENDA ',CAS2007\O/ -09~07'ICFD 97-2 PH doc 7-5 EXHIBIT A RATE AND METHOD OF ApPORTIONMENT CITY OF CHULA VISTA COMMUNITY FACILITIES DISTRICT NO. 97-2 IMPROVEMENT AREA C ANNEXATION No.6 (OTAY RANCH VILLAGE Two) l\ Special Tax of Community Facilities District No. 97-2 (preserve Maintenance District) of the City of Chula Vista ("CFD") shall be levied on all Assessor's Parcels in Improvement Atea C, Annexation No.6 (Otay Ranch Village Two), of the CFD and collected each Fiscal Year commencing with Fiscal Year 2006-2007 in an amount determined through the application of the rate and method of apportionment of the Special Tax set forth below. All of the real property in the CFD, unless exempted by law or by the provisions hereof, shall be taxed for the purposes, to the extent and in the manner herein provided. A. DEFINITIDNS The terms hereinafter set forth have the following meanings: "Acre or Acreage" means the land area of an Assessor's Parcel as shown on an Assessor's Parcel Map, or if the land area is not shown on an Assessor's Parcel Map, the land area shown on the applicable Final Subdivision Map, other final map, other parcel map, other condominium plan, or functionally equivalent map or instrument recorded in the Office of the County Recorder. The square footage of an Assessor's Parcel is equal to the Acreage multiplied by 43,560. "Act" means the Mello-Roos Community Facilities Act of 1982, as amended, being Chapter 2.5, Part 1, Division 2 of Title 5 of the Government Code of the State of California. "Administrative Expenses" means the actual or estimated costs incurred by the City, acting for and on behalf of the CFD as the administrator thereof, to determine, levy and collect the Special Taxes, including salaries of City employees and a proportionate amount of the City's general administrative overhead related thereto, and the fees of consultants and legal counsel providing services related to the administration of the CFD; the costs of collecting installments of the Special Taxes; and any other costs required to administer Area C of the CFD as determined by the City. "Assessor's Parcel" means a lot or parcel shown in an Assessor's Parcel wIap with an assigned assessor's parcel number. "Assessor's Parcel Map" means an official map of the Assessor of the County desigoating parcels by assessor's parcel number. "Building Square Foot or Square Footage" means the square footage as shown on an Assessor's Parcel's building permit of Residential Property excluding garages or other mMUilliFinancial Page 1 7-6 structures not used as living space. "CFD Administrator" means an official of the City, or designee thereof, responsible for detennining the Special Tax Requirement and providing for the levy and collection of the Special Taxes. "CFD" means Community Facilities District No. 97-2 of the City of Chula Vista. "City" means the City of Chula Vista. "City Clerk" means the City Clerk for the City of Chula Vista or his or her designee. "City Manager" means the City Manager for the City of Chula Vista or his or her designee. "Community Purpose Facility Property" or "CPF Property" means all Assessor's Parcels which are classified as community purpose facilities and meet the requirements of City of Chula Vista Ordinance No. 2883. "Council" means the City Council of the City of Chula Vista, acting as the legislative body of the CFD. "County" means the County of San Diego, California. "Developed Property" means all Taxable Property for which a building permit was issued prior to the March 1st preceding the Fiscal Year in which the Special Tax is being levied. "Final Map Property" means any residential lot or non-residential lot created by a Final Subdivision Map, but which is not classified as Developed Property. "Final Subdivision Map" means a subdivision of property creating residential or non- residential buildable lots by recordation of a final subdivision map or parcel map pursuant to the Subdivision Map Act (California Government Code Section 66410 et seq.), or recordation of a condominium plan pursuant to California Civil Code 1352, that creates individual lots for which building permits may be issued without further subdivision and is recorded prior to March 1 preceding the Fiscal Year in which the Special Tax is being levied. "Fiscal Year" means the period starting July 1 and ending on the following June 30. "Improvement Area C" or "Area C" means Improvement Area C of the CFD, as identified on the boundary map for the CFD as amended from time to time. "Land Use Class" means any of the classes listed in Table 1, Table 2, or Table 3. "Maximum Special Tax" means the maximum Special Tax, determined in accordance "'~th Section C below that may be levied in any Fiscal Year on any Assessor's Parcel of T a..'Cable Property. "Non-Residential Property" means all Assessor's Parcels of Developed Property for II MuniRnancial Page 2 7-7 which a buildi...'"1.g per:::lit(s) has been issued for a st..ructure or struct'....lI'es for non-residential use. "Operating Fund" means a fund that shall be maintained within the CFD for each Fiscal Year to pay for Resource Monitoring and/ or Preserve Operations and Maintenance activities and Administrative Expenses. "Operating Fund Balance" means the amount of funds in the Operating Fund at the end of the preceding Fiscal Year. "Operating Fund Requirement" means for any Fiscal Year an amount equal to the Resource Monitoring Fund Requirement and the Preserve Operations and Maintenance Fund Requirement for the current Fiscal Year in which Special Taxes are levied. "Preserve Operations and Maintenance" means those activities described in Attachment A hereto which is incorporated herein by this reference. "Preserve Operations and Maintenance Fund Requirement" means for any Fiscal Year an amount equal to the budgeted costs for Preserve Operations and Maintenance plus a pro- rata share of the budgeted Administrative Expenses of the District for the current Fiscal Year in which Special Taxes are le,ied. "Property Owner Association Property" means any property \vithin the boundaries of -"'\.l:ea C of the CFD that is owned by, or irrevocably dedicated as indicated in an instrument recorded \V.ith the County Recorder to, a property owner association, including any master or sub-association. "Public Property" means any property "itj,in the boundaries of Area C of the CFD that is, at the time of the CFD formation, expected to be used for any public purpose and is owned by or dedicated to the federal government, the State, the County, the City or any other public agency. "Reserve Fund" means a fund that shall be maintained for the CFD each Fiscal Year to pro,ide necessary cash flow for the first six months of each Fiscal Year, working capital to cover monitoring, maintenance and repair cost overruns and delinquencies in the payment of Special Taxes and a reasonable buffer to prevent large variations in annual Special Tax levies. "Reserve Fund Balance" means the amount of funds in the Reserve Fund at the end of the preceding Fiscal Year. "Reserve Fund Requirement" means an amount equal to up to 100% of the Operating Fund Requirement for aay Fiscal Year. "Residential Property" means all },ssessor's Parcels of Developed Property for which a building pennit(s) has been issued for purposes of constructing one or more residential dwelling unit. "Resource Management Plan" means the Otay Ranch Phase 1 Resource Management II MuniFinancial Page 3 7-8 ~ Plan also referred to as "The Otay Ranch Resource Management Plan" dated October 28, 1993, and the Otay Ranch Phase 2, Resource Management Plan dated June 4, 1996, as both such plans may be amended from time to time. "Resource Monitoring Program" means those described in Attachment B hereto which is incorporated herein by this reference. : "Resource Monitoring Fund Requirement" means for any Fiscal Year an amount for each Improvement Area equal to the Improvement Area's fair share of the budgeted costs of the Resource Monitoring Program plus a pro rata share of the budgeted Administrative Expenses of the CFD for the current Fiscal Year in which Special Taxes are levied. Improvement Area C's "fair share" shall be based on Improvement Area C's percentage of the total acreage within the Otay Ranch General Development Plan Planning Area for which a Resource Monitoring Program funding mechanism has been established. "Special Tax" means the Special Tax levied pursuant to the provisions of sections C and D below in each Fiscal Year on each Assessor's Parcel of Developed Property and Undeveloped Property in Area C to fund the Special Tax Requirement. "Special Tax Requirement" means that amount required in any Fiscal Year for Area C to: (i) pay the Resource Monitoring Fund Requirement, and Preserve Operations and Maintenance Fund Requirement, less the Operating Fund Balance, and (il) pay any amounts required to establish or replenish the Reserve Fund to the Reserve Fund Requirement; (ill) pay for reasonably anticipated delinquent Special Taxes based on the delinquency rate for Special Taxes levied in the previous Fiscal Year. "State" means the State of California. "Taxable Property" means all of the Assessor's Parcels within the boundaries of Area C of the CFD that are not exempt from the Special Tax pursuant to law or as defined below. "Undeveloped Property" means, for each Fiscal Year, all T"''l:able Property not classified as Developed Property. . MuniFinancial Page 4 7-9 B. ASSIGNMENT TO CATEGORIES OF SPECIAL TAX Each Fiscal Year using the defiIutions above, all Ta.'Cable Property ",~thin iliea C, Annexation No.6 (Otay R2.nch Village Two), of the CFD shall be classified as Category I, Category II, Category III or Exempt. Developed Property, Final Map Property or Undeveloped Property, and shall be subject to Special Taxes pursuant to Sections C and D below. Developed Property shall be further assigned to a Land Use Class as specified h'1 Table 1. C. MAXIMUM SPECIAL TAX RATE CATEGORY I Category I includes Developed Property ",~thin the District ("Category In). The Maximum Special Tax for Resource Monitoring, and Preserve Operations and Maintenance for Fiscal Year 2006-2007 on Developed Property are the rates set forth in Table 1 below. For Residential Property, the Special Tax shall be levied based upon Building Square Footage and for Non-Residential Property shall be levied based on Acreage. TABLE 1 MAXIMUM SPECIAL TAX FOR CATEGORY I COMMUNITY FACILITIES DISTRICT No. 97-2 I MPROVEMENT AREA C (FISCAL YEAR 2005-2007) Description Resource I Operation & Total Monitoring I Maintenance Residential $0.0062 sa ft $0.0099/ sa ft $0.0162/ sa ft Non- $101.1797/ acre $160.6303/acre $261.81/acre Residential CATEGORY II Category II includes each Assessor's Parcel of Taxable Property within the District for which a Final Map has been recorded, but which is not classified as a Developed Parcel ("Category II"). The Maximum Special Tax for Resource Monitoring, and Preserve Operations and Maintenance approved for Fiscal Year 2006-2007 on each Assessor's Parcel in Category II is the rate set forth in Table 2 below (said amount to be levied pro rata for any portion of an Acre). ~MuniFinancial Page 5 7-10 TABLE 2 MAXIMUM SPECIAL TAX FOR CATEGORY II COMMUNITY FACILITIES DISTRICT No. 97-2 IMPROVEMENT AREA C (FISCAL YEAR 2006-2007) Resource Operation & Total Monitoring Maintenance $101.1797/acre $160.6303/acre $261.81/acre CATEGORY III Category III includes each Parcel of Taxable Property within the District not subject to Special Tax under any other category ("Category III"). The Maximum Special Tax approved for Fiscal Year 2006-2007 on Taxable Property within Category III is the rate set forth in Table 3 below (said amount to be levied pro rata for any portion of an Acre). TABLE 3 MAXIMUM SPECIAL TAX FOR CATEGORY III COMMUNITY FACILITIES DISTRICT No. 97-2 IMPROVEMENT AREA C (FISCAL YEAR 2006-2007) Resource Operation & Total Monitoring Maintenance $65.3004/ acre $103.6696/ acre $168.97/acre EXEMPT CATEGORY The Exempt Category includes each property owned, conveyed or irrevocably offered for dedication to a public agency, or land which is in the public right-of-way, unmanned utility easements which make utilization for other than the purpose set forth in the easement impractical, common areas, private streets and parks, and open space lots ("Exempt Category"). IillMuniRnancial Page 6 7-11 SPECL~ CASES In some instances an Assessor's Parcel of Developed Property may contain more than one Land lise Class and be considered" Special Case". The Maximum Special Tax that may be levied on an Assessor's Parcel identified as Special Case shall be the sum of the Maximum Special Tax levies that may be levied on all Land Use Class,os located on that Assessor's Parcel. The CFD Administrator shall detemaine the allocation to each Land Use Class. ANNu.~ ESCALATION OF MAxIMUM SPECIAL TAX The Maximum Special Tax as shown in the tables above that may be levied on each Assessor's Parcel in Area C, Annexation No.6 (Otay Ranch Village Two), shall be increased each Fiscal Year beginning in Fiscal Year 2007-2008 and thereafter by a factor equal to the annual percentage change in the San Diego Metropolitan Area all Urban Consumer Price Index (All Items). D. METHDD DF APPDRTIDNMENT DF THE SPECIAL TAX Commencing with Fiscal Year 2006-2007, and for each follo\VIDg Fiscal Year, the Council shall levy the Area C, Annexation No.6 (Otay Ranch Village Two), Special Tax at the rates established pursuant to steps 1 through 4 below so that the amount of the Special Tax levied equals the Special Tax Requirement. The Special Tax shall be levied each Fiscal Year as follows: Step 1: Detemaine the revenue which could be generated by Parcels assigned to Category I by multiplying the Building Square Footage for Parcels classified as Residential Parcels by the Maximum Special Tax per Building Square Foot for Resource Monitoring, and Preserve Operations and Maintenance for Parcels and adding to that the maximum revenue which could be generated by multiplying the total acres for Parcels classified as Non-Residential Parcels by the Maximum Special Tax per Acre for Resource Monitoring and Preserve Operations and Maintenance. Step 2: If the total revenue as calculated in Step 1 is greater than the estimated Special Tax Lability for Improvement Area C, reduce the Special Tax for each Parcel proportionately so that the Special Tax levy for the Fiscal Year is equal to the Special Tax Lability for the Fiscal Year. Step 3: If the toral revenue as calculated in Step 1 is less than the Special Tax Lability for Improvement i\rea C, a Special Tax shall be levied upon each Parcel \V~thin Improvement Area C, classified as Category II. The Special Tax for Parcels assigned to Category II shall he calculated as the lesser of: The Special Tax Lability for Improvement Area C as detemained by the City, less the total revenue generated for all Parcels under Step 1 above, divided by the total Acres for all Parcels within Improvement Area C assigned to Category II, eMuniFinancial Page 7 7-12 OR The Ma..-rimum Special Tax rate for Parcels assigned to Category II. Step 4: If the total revenue as calculated in Step 1 and 3 is less :than the Special Tax Liability, for Improvement Area C, a Special Tax shall be levied upon each Parcel within Improvement Area C classified as Category III. The Special Tax for Parcels assigned the Category III shall be calculated as the lesser of: The Special Tax Liability for Improvement Area C as determined by the City, less the total revenue generated for all Parcels under Step 1 and 3 above, divided by the total Acres for all Parcels within Improvement Area C assigned to Category III, OR The Maximum Special Tax rate for Parcels assigned to Category III and within Improvement Area C. However, in the event it is determined that the Special Tax Liability for Improvement Area C includes delinquent Special Taxes from Parcel in Category III from the prior Fiscal Year, the City shall determine the amount of delinquent taxes that arose from such Parcels and identify the owner( s). The amount of delinquent Special Taxes, if any, that arose from the applicable owner(s) shall first be divided by the total Category III Acres owned by such owner(s) and collected from the applicable owner(s) ,,~th the remaining portion of the Special Tax Liability not related to delinquent Special Taxes to be collected from all Parcels in Category III according to the procedure set forth in the preceding paragraph. Notwithstanding the above, under no circumstances will the Special Tax levied against any Assessor's Parcel of Residential Property or Multi-Family Property for which an occupancy permit for private residential use has been issued be increased by more than ten percent annually up to the Maximum Special Tax as a consequence of delinquency or default by the owner of any other Assessor's Parcel within Area C of the CFD. E. APPEALS Any landowner or resident who pays the Special Tax and believes that the amount of the Special Tax levied on their "".ssessor's Parcel is in error shall first consult with the CFD Administrator regarding such error. If following such consultation, the CFD Administrator determines that an error has occurred, the CFD Administrator may amend the amount of the Special Tax levied on such Assessor's Parcel. If following such consultation and action, if any, by the CFD Administrator, the landowner or resident believes such error still exists, II MuniFinancial Page 8 7-13 such person may file a written notice ",~th the City Clerk of the City appealing the amount of the Special Tax levied on such Assessor's Parcel. Upon the receipt of any such notice, the City Clerk shall forward a copy of such notice to the City Manager who shall establish as part of the proceedings and administration of the CFD, a special three-member Review/Appeal Committee. The Review/Appeal Committee may establish such procedures, as it deems necessary to undertake the review of any such appeal. The R,view / Appeal Committee shall interpret r..llls Rate and Method of Apportionment and make'determinations relative to the annual administration of the Special Tax and any landowner or resident appeals, as herein specified. The decision of the Review/Appeal Committee shall be final and binding as to all persons. F. MANNER OF COLLECTION Special Taxes levied pursuant to Section D above shall be collected in the same manner and at the same time as ordinary ad valorem property taxes; provided, however, that the CFD Administrator may directly bill the Special Tax, may collect Special Taxes at a different time or in a different manner if necessary to meet the financial obligations of Area C of the CFD or as otherwise determined appropriate by the CFD Administratot. G. TERM OF SPECIAL TAX Taxable Property in Improvement Area C of the CFD shall remain subject to the Special Tax in perpetuity. II MuniRnancial Page 9 7-14 Attachment A Desctiption of Preserve Operations and Maintenance Preserve Operations and Maintenance includes the maintenance, operation and management of the public or private property within boundaries of the Qtay Ranch Preserve, as such boundaries may be modified from time to time, required by tlie Resource Management Phn to be maintained as open space or habitat preservation hnd or both. Such maintenance, operations and management shall include, but not be limited to, the following: (i) Preserve Maintenance. Development, implementation and ongoing provision of programs to maintain, operate and manage preserve habitat values through: cultivation, irrigation, trimming, spraying, fertilizing, and/or treatment of disease or injury; removal of trimmings, rubbish, debris and other solid waste; maintenance of trails; removal and control of exotic phnt species (weeds); and control of cowbirds through trapping. (il) Security. Development, implementation and ongoing provision of security programs to: enforce "no trespassing" rules; curtail activities that degrade resources, such as grazing, shooting, and illegal dumping; remove trash, litter, and other debris; control access; prohibit off-road traffic; and maintain fences and trails. (Iii) Preserve improvements: Acquire equipment and/ or install improvements necessary to maintain, operate and manage the open space and habitat preservation land described above. The above description of the Preserve Operations and Maintenance is general in nature. The actual maintenance, operations and management of the open space and habitat preservation land ",~thin the Otay Ranch Preserve may be modified from time to time as necessary in order to effectively provide such services in compliance ",~th the requirements of the Resource Management Plan. II MuniFinancial Page 10 7-15 Attachment B Description of Resource Monitoring Implement the annual biota monitoring and reporting program consistent with the Resource Management Plan to identify changes in the quality and qilantity of preserve resources L"eluding 'wildlife species, sensitive plants and sensitive habitat i:ypes. The above description of the Resource Monitoring is general in nature. The actual monitoring and reporting program may be modified from time to time as necessary in order to effectively provide such services consistent with the requirements of the Resource Management Plan. Ell MuniFinancial Pi<1ge 11 7-16 EXHIBIT '5 t ~ ,<,'~,- ;1 . / - \ ~// '-- :::--"-~~ ..// . .~~ \\ 7-17 -.J I ~ 00 "'''Hot "'~''''' ,,,," -<}. VICINITY MAP w~< s ~ :":~t.i!:2nancial =:t~_-=-r.:tl___ ANNEXATION MAP NO. 6 COMMUNITY FACILITIES DISTRICT NO. 97-2 (PRESERVE MAINTENANCE DISTRICT) IMPROVEMENT AREA C SHEET 1 OF 1 CITY OF CHULA VISTA COUNTY OF SAN DIEGO STATE OF CALIFORNIA CD l "" . FIL~O IN THI': OFFICE Of TH~ CITY CLERK THIS__~_. DAY OF - I HEREBY CERTIFY THAT TIlE WIT"I" MAl' ~HOwlNG. PHill'O~~IlIlOUND^RlES Of ANNEXATIONNO.6TOL"MMlJNjJ~fACIUTlf6DISIRICTNO."J."(PRESERVE "'~'NIEW."C~OISrAI(;l),I"'PAOVEl.IfmAHEAC,CIT'lOfCIIUl..AV'SlA. COUNTYrn=S.o.NDIEGO.STATEOFCAUfOf\NIA,WASAP~HOVIOUOYTHECflY COUNGILOFTIU;CITYOfCHUl-AVlSIAAI AfW<;U'AAM~ETINGTKEF1EOF, IIE~DO>lTHE_',^VOF .a"lti,IIYlTSAESOllJl'O~NO CfiY-ClEAK-- CIIYOj-GI1UlAII15TA FILED THIS OAVOF .lllOO,"TltJ~tKlUA OF ~6CK MINTH"'OOOl( ---= PAGE OF MAPS Of ASS",S5MENT AND CIJI.IMU<lIT't fAClU11ES DISTFI'CTs"Iit<DAll INSTRUMENT NO. _ ._ INTt1f:Of'fl(;<:OFllj~COUNTY REGORDHllN Tli~ COUNTY OF-liAN OIEGO,61AIE OF Gl\lIFORNl>. COONTYAECOflDE~ GOONTYOFSAND1EGD SIAlEO~ G/\llI'OfINl/\ flfFEflENCEISMADETOTHAT8QUNOMlYIAAPDF GOWAUNHV fl\GllIIIES OISTRICT 1..10_97.2 (PfiESEflVtO l.lI\INTEtlANGE DlSlAICl) QF IHE CITY OF GliuLA VISIAHE(;OflmoOWIIHTHE8ANDIEGOCOUNTYAEGOROEfl'SUff.:EINBUOl( 3OOf-MAPSOFASSESSIJ.ENTSl\NlICOr..u.tUNITYfAGIIIT'ESOI81fl,CT,PAGE52 ASINSTflUMENT~,\89~-j),2Jl16l1 THEUNESANOUIMeNSIONSOFI\NYASSESSUIlPAACIOlSliOWNONTIlISD,I\GHAM SHAll BE THOSE lINES 1\1..10 01"'IONSIONSI\8 SIlUW,", ON THE SAN ~EGO COUNTYAGCj;SSOfl"......PSfOlllHOtiiOPAA(;HS LISTED. HiE SAN Utt:<:;O lXlUNTYASSESSOA'SMAP8SHA.llGOViOIlNFOflAllDETI\II.8CONCERNINl> lHEk-INESA!iUOIMENS\ONSOFSUCHWT8UAPI\f\CEUi, FOAOHl\ll.SONl.OTSWITHINTlI.ECHlJ!.AIIISTI\THAGl NO. lltill50TI\VAANCIlVlUAGE2 ANUI.OFllIONSOfVII!....'.~4.I\.MI\~ H~EH IOlIIESUIlOil/lSKJNI.....rNU I'"'" ON FllEWITH IHECI1YOFCHOlAlIlSUANOTIiEHECOf\UEHOflllE lXlUNTYOF SI\,",UIEOO. LEGEND ANNEXAllON BOUNDARY CD IMP AEFERENCE NUMBER ~ NOII\PAHT ., Reler~"c" Numb", L5!!O".cription _.......L.._ As.,,",ot Patcel Number 6H.DlD-15-00 LOTS 1 JJ INCUJSIV!:: AND LOTS A-D INCLUSIVE Of CHULA VIST TRACT NO. 06-05 OTAV RANCH VlllAl.i1:O 2 AND PORTIONS Of VillAGE 4 "A" MAP, AS SHOWN ON TIlE MAP FII.EO Ai;; SUBDIVISION MAP NO. 15350 IN THE OFFICIAL RECORDS Of THE RECOfWER ()~ 'IHE COUNTY OF SAN DIEGO, STATE OF CALIFORNIA. ON MAY 26, 2006, AS FILE NO. 2011b llJl~JOJ EXH~B~T c, RESOLUTION NO. RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA, CALIFORNLA., ACTING AS THE LEGISLATNE BODY OF COMMUNITY FACILITIES DISTRICT NO. 97-2 (PRESERVE MAINTENANCE DISTRICT), MAKING CERTAIN DETER..c1\1INATIO:t--iS Al"\iTI AUTHORIZING SUBMITTAL OF LEVY OF SPECIAL TAXES TO THE QUALIFIED ELECTORS OF CERTAIN TERRITORY, ANNEXATION NO.6 (OTAY RANCH VILLAGE TWO), PROPOSED TO BE Al'lNEXED TO SUCH COMMUNITY FACILITIES DISTRICT. WHEREAS, the CITY COUNCIL of the CITY OF CHULA VISTA. CALIFORNIA (the "City Council"), has previously declared its intention and held and conducted proceedings relating to the annexation of territory to an improvement area in an existing community facilities district pursuant to the terms and provisions of the "Mello-Roos Community Facilities Act of 1982", being Chapter 2.5, Part 1, Division 2, Title 5 of the Government Code of the State of California, and specifically Article 3.5 thereof (the "Act") and the City of Chula Vista Community Facilities District Ordinance enacted pursuant to the powers reserved by the City of Chula Vista under Sections 3, 5 and 7 of Article XI of the Constitution of the State of California (the "Ordinance") (the Act and the Ordinance may be referred to collectively as the "Community Facilities District Law"). The existing Community Facilities District has been designated as COMMUNITY FACILITIES DISTRICT NO. 97-2 (PRESERVE MAINTENA.,,"lCE DISTRICT) (the "District") and the improvement area has been designated as IMPROVEMENT AREA "c" ("Improvement Area 'C"'); and, WHEREAS, notice of a public hearing relating to the annexation of territory to Improvement Area "C," the extent of the territory to be annexed, the furnishing of certain public services and all other related matters has been given; and, WHEREAS, the territory proposed to be annexed IS known and designated as COMMUNITY FACILITIES DISTRICT :t--i0. 97-2 (PRESERVE MAINTENANCE DISTRICT), IMPROVEMENT AREA "C," Al"lNEXATION NO.6 (the "Territory"); and, WHEREAS, it has now been determined that written protests have not been received by 50% or more of the registered voters residing either within the Territory or Improvement Area "c" and/or property owners representing more than one-half (1/2) or more of the area of land within the Territory or within Improvement Area "C;" and, WHEREAS, inasmuch as there have been less than twelve (12) persons registered to vote within the Territory for each of the 90 preceding days, this legislative body desires to submit the levy of the required special tax to the landowners of the Territory, said landowners being the qualified electors as authorized by law. 7-\9 NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS: SECTION 1. Recitals The above recitals are all true and correct. SECTION 2. Determinations It is determined by this City Council that: (a) all proceedings prior hereto were valid apd taken in conformity with the requirements of law, and specifically the provisions of the Community Facilities District Law, and this finding is made pursuant to the provisions and authorization of Section 53325.1 of the Government Code of the State of California; (b) the annexation of the Territory to Improvement Area "c" of the District as proposed conforms with the City of Chula Vista Statement of Goals and Policies Regarding the Establishment of Community Facilities Districts; (c) less than twelve (12) registered voters have resided within the Territory for each of the ninety (90) days preceding the close of the public hearing and, consequently, the qualified electors shall be the landowners of the Territory and each landowner who is the owner ofrecord as of the close of the public hearing, or the authorized representative thereof, shall have one vote for each acre or portion of an acre of land that she or he owns within the Territory; (d) the time limit specified by the Community Facilities District Law for conducting an election to submit the levy of the special taxes to the qualified electors of the Territory and the requirements for impartial analysis and ballot arguments have been waived with the unanimous consent of the qualified electors of the Territory; (e) the City Clerk, acting as the election official, has consented to conducting any required election on a date which is less than 125 days following the adoption of any resolution annexing the Territory to the District and Improvement Area "c" thereto; and (f) the public services proposed to be financed from the proceeds of special taxes to be levied within the Territory are necessary to meet increased demands placed upon the City as a result of development and/or rehabilitation occurring in the Territory. SECTION 3. Boundaries Of Annexed Area The boundaries and parcels of land of the Territory and in which the public services are to be provided and on which special taxes will be levied in order to pay the costs and expenses for such public services are generally described as follows: All that property within the Territory proposed to be annexed to the District and Improvement Area "c" thereto, as such property is shown on a map as previously approved by this legislative body, 7-~O such map designated by the number of the annexation and the name of the District, a copy of which is on file in the Office of the City Clerk and shall remain open for public inspection. A general description of the territory included in the District IS hereinafter described as follows: All that property and territory as originally included within and previously annexed to the District, as such property is sho\VTI on maps of the original District and territory previously annexed and approved by this City Council and designated by the name of the original District and Annexation Nos. I through S. A copy of such maps are on file in the Office of the City Clerk and have also been filed in the Office of the County Recorder. SECTION 4. Description Of Services The services that are authorized to be financed from the proceeds of special taxes levied within Improvement Area "C" of the District are certain services which are in addition to those services provided in or required for the territory within Improvement Area "C" and will not be replacing services already available. A general description of the services authorized to be financed by Improvement Area "C" is as follows: The monitoring, maintenance, operation and management of public property in which the City has a property interest and which conforms to the requirements of the Ordinance or private property within the Otay Ranch Preserve which is required by the Preserve Owner/Manager to be maintained as open space or for habitat maintenance or both. Such property may be located outside the boundaries of the District and outside the jurisdictional boundaries of the City of Chula Vista. Such services shall not include the maintenance, operation and/or management of any property owned, maintained, operated and/or managed by the federal and/or state government as open space, habitat maintenance and/or for any other purpose. The District shall finance all direct, administrative and incidental annual costs and expenses necessary to provide such monitoring, maintenance, operation and management of such public property. The same types of services which are authorized to be financed by the District from the proceeds of special taxes levied \Vithin Improvement Area "C" are the types of services to be provided in the Territory. If and to the extent possible, such services shall be provided in cornmon within Improvement Area "C" and the Territory. SECTION 5. Special Tax Except where funds are otherwise available, a special tax sufficient to pay for such services to be provided in the Territory, secured by recordation of a continuing lien against all non-exempt real property in the Territory will be levied annually within the boundaries of the Territory. For particulars as to the rate and method of 7-~1 apportionment of the proposed special tax, reference is made to the attached and incorporated Exhibit "A" which sets forth in sufficient detail the method of apportionment to allow each landowner or resident within the Territory to clearly estimate the maximum amount of the special tax that such person will have to pay. The special taxes shall be collected in the same manner as ad valorem property taxes and shall be subj ect to the same penalties, procedure, sale and lien priority in any case of delinquency, as applicable for ad valorem taxes; however, as applicable, this City Council may, by resolution, establish and adopt an alternate or supplemental procedure as necessary. Any special taxes that may not be collected on the County tax roll shall be collected through a direct billing procedure by the Treasurer of the City of Chula Vista, acting for and on behalf of the District. SECTION 6. Election The proposition related to the levy of the special tax shall be submitted to the qualified electors of the Territory, said electors being the landowners, with each landowner having one (I) vote for each acre or portion thereof of land which he or she owns within said annexed territory. The special election shall be held on January 16,2007, and said election shall be a special election to be conducted by the City Clerk (hereinafter "Election Official"). If the proposition for the levy of the special tax receives the approval of more than two-thirds (2/3) of the votes cast on the proposition, the special tax may be levied as provided for in this Resolution. SECTION 7. Ballot The ballot proposal to be submitted to the qualified voters at the election shall generally be as follows: PROPOSITION A CITY OF CHULA VISTA COMMUNITY FACILITIES DISTRICT NO. 97-2, IMPROVEMENT AREA "C" ANNEXATION NO.6 AUTHORIZATION FOR SPECIAL TAX LEVY Shall Community Facilities District No. 97-2 (preserve Maintenance District) ("District") of the City of Chula Vista, subject to the accountability measures required pursuant to California Government Code Section 50075.1 and following, be authorized to levy special taxes within the territory identified as Annexation No. 6 to Improvement Area "c" pursuant to the rate and method of apportionment of special taxes (the "Rate and Method") set forth in the "Resolution of the City Council of The City of Chula Vista, California, Acting As the Legislative Body of the District, declaring its intention to authorize the Annexation, Annexation No.6, of territory (Otay Ranch Village Two) to Community Facilities District No. 97-2 (Preserve Maintenance District) and Improvement Area "c" thereto and setting the public hearing to consider the authorization of said Annexation and authorizing submittal of levy of special taxes to qualified voters within said territory proposed to be annexed to Community Facilities District 97-2 (Preserve Maintenance District)" to fmance the authorized services and administrative expenses and to fund and replenish a reserve fund, all as provided for in the Rate and Method? 4 7-22 SECTION 8. Vote The appropriate mark placed in the line before the word "YES" shall be counted in favor of the adoption of the proposition, and the appropriate mark placed in the line before the word "NO" in the manner as authorized, shall be counted against the adoption of said proposition. SECTION 9. Election Procedure This City Council hereby authorizes the Election Official to take any and all steps necessary for the holding of silid election and ratifies any such steps previously taken by such Election Official which were necessary for the holding of such election. Said Election Official shall perform and render all services and proceedings incidental to and connected with the conduct of said election, and said services shall include, but not be limited to the following: (a) (b) (c) (d) (e) (1) (g) (h) (i) (j) PREPARED BY: Prepare and furnish to the election officers necessary election supplies for the conduct ofthe election. Cause to be printed the requisite number of official ballots, tally sheets and other necessary forms. Furnish and address official ballots for the qualified electors of the District. Cause the official ballots to be mailed and/or delivered, as required by law. Receive the returns of the election. Sort and assemble the election material and supplies in preparation for the canvassing of the returns. Canvass the returns of the election. Furnish a tabulation ofthe number of votes given in the election. Make all arrangements and take the necessary steps to pay all costs of the election incurred as a result of services performed by the District and pay costs and expenses of all election officials. Conduct and handle all other matters relating to the proceedings and conduct of the election in the manner and form as required by law. APPROVED AS TO FORM BY: /~ .4 ,/ \ () / , j.n. ! /} \ '-./L I ~\ ir( / Afum ~oie . ~.. i.. 'C<-U . \' City Att,oruey IJ Scott Tulloch City Engineer 7-~3 CITY OF CHULA VISTA ANNEXATION NO.6 TO COMMUNITY FACILITIES DISTRICT NO. 97-2 (PRESERVE MAINTENANCE DISTRICT) IMPROVEMENT AREA "C" EXHIBIT "A" R~TE AND METHOD OF APPORTIONMENT OF SPECIAL TAX 7~~ EXHIBIT If A II RATE AND METHOD OF ApPORTIONMENT CITY OF CHULA VISTA COMMUNITY FACILITIES DISTRICT NO. 97-2 IMPROVEMENT AREA C : ANNEXATiON NO.6 (OTAY RANCH VILLAGE Two) A Special Tax of Community Facilities District No. 97-~ (preserve Maintenance District) of the City of Chula Vista ("CFD") shall be levied on all Assessor's Parcels in Improvement Area C, Annexation No.6 (Otay Ranch Village Two), of the CFD and collected each Fiscal Year commencing with Fiscal Year ~006-~007 in an amount determined through the application of the rate and method of apportionment of the Special Tax set forth helow. All of the real property in the CFD, unless exempted by law or by the proVIsions hereof, shall be taxed for the purposes, to the extent and in the manner hereIn provided. A. DEFINITIDNS The terms hereinafter set forth have the follo'Wl.ng meanings: "Acre or Acreage" means the land area of an ..-\ssessor's Parcel as shov.n on an Assessor's Parcel Map, or if the land area is not shown on an i\.ssessor's Parcel Map, the land area shown on the applicable Final Subdivision Map, other final map, other parcel map, other condominium plan, or functionally equivalent map or instrument recorded in the Office of the County Recorder. The square footage of an Assessor's Parcel is equal to the Acreage multiplied by 43,560. "Act" means the'Mello-Roos Community Facilities i\.ct of 1982, as amended, being Chapter 2.5, Part 1, Division ~ of Tide 5 of the Government Code of the State of California. "Administrative Expenses" means the actual or estimated costs incurred by the City, acting for and on behalf of the CFD as the administrator thereof, to determine, levy and collect the Special T""""es, including salaries of City employees and a proportionate amount of the City's general administrative overhead related thereto, and the fees of consultants and legal counsel providing services related to the administration of the CFD; the costs of collecting installments of the Special Taxes; and any other costs required to administer Area C of the CFD as determined by the CiI)'. II Assessor's Parcel" means a lot or parcel shown in an Assessor1s Parcel Nfap \\lith an assigned assessor's parcel number. "Assessor's Parcel Map" means an official map of the Assessor of the County desigoating parcels by assessor's parcel number. "Building Square Foot or Square Footage" means the square foorage as shown on an Assessor's Parcel's building permit of Residential ProperI)' excluding garages or other ElMuniFinancial Page 1 7-25 ~ structures not used as living space. "CFD Administrator" means an official of the City, or designee thereof, responsible for determining the Special Tax Requirement and providing for the levy and collection of the Special Taxes. "CFD" means Community Facilities District No. 97-2 of the City of Chula Vista. "City" means the City of Chula Vista. "City Clerk" means the City Clerk for the City of Chula Vista or his or her designee. "City Manager" means the City Manager for the City of Chula Vista or his or her designee. "Community Purpose Facility Property" or "CPF Property" means all Assessor's Parcels which are classified as community purpose facilities and meet the requirements of City of Chula Vista Ordinance No. 2883. "Council" means the City Council of the City of Chula Vista, acting as the legislative body of the CFD. "County" means the County of San Diego, California. "Developed Property" means all Taxable Property for which a building permit was issued prior to the March 1st preceding the Fiscal Year in which the Special Tax is being levied. "Final Map Property" means any residential lot or non-residential lot created by a Final Subdivision Map, but which is not classified as Developed Property. "Final Subdivision Map" means a subdivision of property creating residential or non- residential buildable lots by recordation of a final subdivision map or parcel map pursuant to the Subdivision Map Act (California Government Code Section 66410 et seq.), or recordation of a condominium plan pi.ltsuant to California Civil Code 1352, that creates individual lots for which building permits may be issued without further subdivision and is recorded prior to March 1 preceding the Fiscal Year in which the Special Tax is being levied. "Fiscal Year" means the period starting July 1 and ending on the following June 30. "Improvement Area C" or "Area C" means Improvement Area C of the CFD, as identified on the boundary map for the CFD as amended from time to time. "Land Use Class" means any of the classes listed in Table 1, Table 2, or Table 3. "Maximum Special Tax" means the maximum Special Tax, determined in accordance with Section C below that may be levied in any Fiscal Year on any Assessor's Parcel of Taxable Property. "Non-Residential Property" means all Assessor's Parcels of Developed Property for EMuniFinancial Page 2 7-26 which a building permit(s) has been Issued for a structure or structures for non-residential use. "Operating Fund" means a fund that shall be maintained "Within the CFD for each Fiscal Year to pay for Resource Monitoring and/ or Preserve Operations and rvIaintenance activ'ities and Administrative Expenses. : "Operating Fund Balance" means the amount of funds in the Operating Fund at the end of the preceding Fiscal Year. "Operating Fund Requirement" means for any Fiscal Year an amount equal to the Resource Monitoring Fund Requixement and the Preserve Operations and Maintenance Fund Requixement for the current Fiscal Year in which Special Taxes are levied. "Preserve Operations and Maintenance" means those activities described in Attachment l' hereto which is incorporated herein by this reference. "Preserve Operations and Maintenance Fund Requirement" means for any Fiscal Year an amount equal to the budgeted costs for Preserve Operations and :tYIaintenance plus a pro- rata share of the budgeted Administrative Expenses of the District for the current Fiscal Year in which Special Taxes are levied. "Property Owner Association Property" means any property ,vithin the boundaries of Area C of the CFD that is owned by, or ixrevocably dedicated as indicated in an instrument recorded "\v1th the County Recorder to, a property owner association, including any master or sub-association. "Public Property" means any property within the boundaries of Area C of the CFD that is, at the time of the CFD formation, expected to be used for any public purpose and is owned by or dedicated to the federal government, the State, the County, the City or any other public agency. "Reserve Fund" means a fund that shall be maintained for the CFD each Fiscal Year to provide necessary cash flow for the fIrst six months of each Fiscal Year, working capital to cover monitoring, maintenance and repair cost overruns and delinquencies in the payment of Special Taxes and a reasonable buffer to prevent large variations in annual Special Tax levies. "Resenre Fund Balance" means the amount of funds in the Reserve Fund at the end of the preceding Fiscal Year. "Resenre Fund Requirement" means an amount equal to up to 1000/0 of the Operating Fund Requixement for any Fiscal Year. "Residential Property" means all Assessor's Parcels of Developed Property for which a building permit(s) has been issued for purposes of constructing one or more residential dwelling unit. "Resource Management Plan" means the Gtay Ranch Phase 1 Resource :ivlanagement IlMuniRnancial Page 3 7-27 Plan also referred to as "The Otay Ranch Resource Management Plan" dated October 28, 1993, and the Otay lLtnch Phase 2, Resource Management Plan dated June 4, 1996, as both such plans may be amended from time to time. "Resource Monitoring Program" means those described in Attachment B hereto which is incorporated herein by this reference. : "Resource Monitoring Fund Requirement" means for any Fiscal Year an amount for each Improvement Area equal to the Improvement Area's fair share of the budgeted costs of the Resource Monitoring Program plus a pro rata share of the budgeted i\.dministrative Expenses of the CFD for the current Fiscal Year in which Special Taxes are levied. Improvement Area C's "fair share" shall be based on Improvement Area C's percentage of the total acreage within the Otay Ranch General Development Plan Planning Area for which a Resource Monitoring Program funding mechanism has been established. "Special Tax" means the Special Tax levied pursuant to the provisions of sections C and D below in each Fiscal Year on each Assessor's Parcel of Developed Property and Undeveloped Property in Area C to fund the Special Tax Requirement. "Special Tax Requirement" means that amount required in any Fiscal Year for Area C to: (i) pay the Resource Monitoring Fund Requirement, and Preserve Operations and Maintenance Fund Requirement, less the Operating Fund Balance, and (il) pay any amounts required to establish or replenish the Reserve Fund to the Reserve Fund Requirement; (iii) pay for reasonably anticipated delinquent Special Taxes based on the delinquency rate for Special T"""es levied in the previous Fiscal Year. "State" means the State of California. "Taxable Property" means all of the Assessor's Parcels ,vithin the boundaries of Area C of the CFD that are not exempt from the Special Tax pursuant to law or as defIned below. "Undeveloped Property" means, for each Fiscal Year, all T""~able Property not classifIed as Developed Property. II MuniFinancial Page 4 7-28 B. ASSIGNMENT TO CATEGORIES OF SPECIAL TAX Each Fiscal Year using the def111.itions above, all Taxable Property 'Within Area C, Annexation No.6 (Otay Ranch Village Two), of the CFD shall be classified as Category I, Category II, Category III or Exempt. Developed Property, Final Map PropeIty or Undeveloped Property, and shall be subject to Special Ta..'{es pUIsuant to Sections C and D below. Developed Property shall be furtheI assigned to a Land Use Class as specified in Table I. C. MAXIMUM SPECIAL TAX RATE CATEGORY I Category I includes Developed PropeIty 'Within the District ("Category 1''). The Maximum Special Tax for Resource Monitoring, a..red Preserve Operations and lvIaintenance for Fiscal Year 2006-2007 on Developed Property aIe the Iates set forth in Table 1 below. For Residential PropeIty, the Special Tax shall be levied based upon Building SquaIe Footage and for Non-Residential Property shall be levied based on ACIeage. TABLE 1 MAXIMUM SPECIAL TAX FOR CATEGORY I COMMUNITY FACiLiTIES DISTRICT No. 97-2 IMPROVEMENT AREA C (FISCAL YEAR 2006-2007) Description Resource Operatlon & Total l'vIonltoring IYIaintenance Residential , $0.0062 Sq ft $0.0099/ sq ft $00162/sq ft Non- $101.1797/acre $160.6303/acre $261.81/acre Residential CATEGORY II Category II includes each Assessor's Parcel of Taxable Property within the District for which a Final Map has been recorded, but which is not classified as a Developed Parcel ("Category II"). The Maximum Special Tax for Resource Monitoring, and Preserve Operations and Maintenance approved for Fiscal Year 2006-2007 on each Assessor's Parcel in Category II is the rate set forth in Table 2 below (said amount to be levied pro rata for any portion of an Acre). iii MuniFinancial Page 5 7-29 ~ TABLE 2 MAXIMUM SPECIAL TAX FOR CATEGORY II COMMUNITY FACILITIES DISTRICT No. 97-2 IMPROVEMENT AREA C (FISCAL YEAR 2006-2007) Resource Operation & Total Monitoring h.hintenance $101.1797/acre $160.6303/acre $261.81/acre CATEGORY III Category III includes each Parcel of Taxable Property within the District not subject to Special Tax under any other category ("Category III"). The Maximum Special Tax approved for Fiscal Year 2006-2007 on Taxable Property within Category III is the rate set forth in Table 3 below (said amount to be levied pro rata for any portion of an Acre). TABLE 3 MAXIMUM SPECIAL TAX FOR CATEGORY III COMMUNITY FACILITIES DISTRICT No. 97-2 IMPROVEMENT AREA C (FISCAL YEAR 2006-2007) Resource Operation & Total Monitoring LVIaintenance $6j.3004/ acre $1036696/acre $168.97/acre EXEMPT CATEGORY The Exempt Category includes each property owned, conveyed or irrevocably offered for dedication to a public agency, or land which is in the public right-of-way, unmanned utility easements which make utilization for other than the purpose set forth in the easement impractical, common areas, private streets and parks, and open space lots ("Exempt Category"). II MuniFinancial Page 6 7-30 SPECIAL CASES In some instances an Assessor's Parcel of Developed Property may contain more than one Land Use Class and be considered" Special Case". The Maximum Special Tax that may be levied on an i\ssessor's Parcel identified as Special Case shall 1;>e the sum of the Maximum Special Tax levies that may be levied on all Land L se Classes located on that Assessor's Parcel. The CFD Administrator shall determine the allocation to each Land Use Class. fu"INUAL ESCALATION OF MAxIMUM SPECIAL TA.X The Maximum Special Tax as shown in the tables above that may be levied on each Assessor's Parcel in Area C, Annexation No.6 (Otay Ranch Village Two), shall be increased each Fiscal Year beginning in Fiscal Year 2007-2008 and thereafter by a factor equal to the annual percentage change in the San Diego Metropolitan Area all Urban Consumer Poce Index (All Items). D. METHOD OF APPORTiONMENT OF THE SPECiAL TAX Commencing ,vith Fiscal Year 2006-2007, and for each following Fiscal Year, the Council shall levy the Area C, Annexation No.6 (Otay Ranch Village Two), Special Tax at the rates established pursuant to steps 1 through 4 below so that the amount of the Special Tax levied equals the Special Tax Requaiement. The Special Tax shall be levied each Fiscal Year as follows: Step 1: Determine the revenue which could be generated by Parcels assigned to Category I by multiplying the Building Square Footage for Parcels classified as Residential Parcels by the Maximum Special Tax per Building Square Foot for Resource Monitoring, and Preserve Operations and lvIaintenance for Parcels and adding to that the maximum revenue \,vruch could be generated by multiplying the total acres for Parcels classified as Non-Residential Parcels by the Maximum Special Tax per Acre for Resource Monitoring and Preserve Operations and Maintenance. Step 2: If the total revenue as calculated in Step 1 is greater than the estimated Special Tax Liability for Improvement Area C, reduce the Special Tax for each Parcel proportionately so that the Special Tax levy for the Fiscal Year is equal to the Special Tax Liability for the Fiscal Year. Step 3: If the total revenue as calculated in Step 1 is less than the Special Tax Liability for Improvement J\rea C, a Spedal Tax shall be levied upon each Parcel within Improvement Area C, classified as Category II. The Special Tax for Parcels assigned to Category II shall be calculated as the lesser of: The Special Tax Liability for Improvement Area C as detenrined by the City, less the total revenue generated for all Parcels under Step 1 above, divided by the total Acres for all Parcels "'~thin Improvement Area C assigned to Category II, RMuniFinancial Page 7 7-31 OR The Maximum Special Tax rate for Parcels assigned to Category II. Step 4: If the total revenue as calculated in Step 1 and 3 is less than the Special Tax Liability, for Improvement i\.rea C, a Special Tax shall be levied upon each Parcel within Improvement Area C classified as Category III. The Special Tax for Parcels assigned the Category III shall be calculated as the lesser of: The Special Tax Liability for Improvement Area C as determined by the City, less the total revenue generated for all Parcels under Step 1 and 3 above, divided by the total Acres for all Parcels within Improvement Area C assigned to Category III, OR The Maximum Special Tax rate for Parcels assigned to Category III and within Improvement Area C. However, in the event it is determined that the Special Tax Liability for Improvement Area C includes delinquent Special Taxes from Parcel in Category III from the prior Fiscal Yeax, the City shall determine the amount of delinquent taxes that arose from such Paxcels and identify the owner(s). The amount of delinquent Special Taxes, if any, that arose from the applicable owner(s) shall first be divided by the total Category III Acres owned by such owner( s) and collected from the applicable O\lmer( s) with the remaining portion of the Special Tax Liability not related to delinquent Special Taxes to be collected from all Parcels in Category III according to the procedure set forth in the preceding paragraph. Notwithstanding the above, under no circumstances will the Special Tax levied against any i\ssessor's Parcel of Residential Property or Multi-Family Property for which an occupancy permit for private residential use has been issued be increased by mote than ten percent annually up to the Maximum Special Tax as a consequence of delinquency or default by the owner of any other Assessor's Parcel within Nea C of the CFD. E. APPEALS Any landowner or resident who pays the Special Tax and believes that the amount of the Special Tax levied on their Assessor's Parcel is in error shall first consult with the CFD AdmInistrator regarding such error. If following such consultation, the CFD Administrator determines that an error has occurred, the CFD Administrator may amend the amount of the Special To." levied on such Assessor's Parcel. If following such consultation and action, if any, by the CFD Administrator, the landowner or resident believes such error still exists, II MuniRnancial Page 8 7-32 such person may fIle a written notice with the City Clerk of the City appealing the amount of the Special Tax levied on such Assessor's Parcel. Cpon the receipt of any such notice, the City Clerk shall forward a copy of such notice to the City Manager who shall establish as part of the proceedings and administration of the CFD, a special three-member Revie\.v/ Appeal Committee. The RevIew/Appeal Committee may establish such procedures, as it deems necessarj to undertake the review of any such appeal. The ReView/Appeal Committee shall interpret this Rate and Method of Apportionment and make determinations relative to the annual administration of the Special Tax and any landowner or resident appeals, as herein specifIed. The decision of the Review/Appeal Committee shall be fInal and binding as to all persons. F. MANNER OF COLLECTION Special Taxes levied pursuant to Section D above shall be collected in the same manner and at the same time as ordinary ad va/orem property taxes; provided, however, that the CFD Administrator may directly bill the Special Tax, may collect Special Taxes at a different time or in a diffetent manner if necessary to meet the fInancial obligations of Area C of the CFD or as othenvise determined appropriate by the CFD Administrator. G. TERM OF SPECIAL TAX Taxable Property in Improvement iuea C of the CFD shall remain subject to the Special T <L<';: in perpetuity. EMuniFinancial Page 9 7-33 Attachment A Description of Preserve Operations and Maintenance Preserve Operations and IYfaintenance includes the maintenance, operation and management of the public or private property within boundaries of the oray Ranch Preserve, as such boundaries may be moelified from time to time, required by the Resource Management Plan to be maintained as open space or habitat preservation land or both. Such maintenance, opera tions and management shall include, but not be limited to, the following: (i) Preserve Maintenance. Development, implementation and ongoing provision of programs to maintain, operate and manage preserve habitat values through: cultivation, irrigation, trimming, spraying, fertilizing, and/or treatment of elisease or injury; removal of trimmings, rubbish, debris and other solid waste; maintenance of trails; removal and control of exotic plant species (weeds); and control of cowbirds through trapping. (Ii) Security. Development, implementation and ongoing provision of security programs to: enforce "no trespassingll rules; curtail activities that degrade resources, such as grazing, shooting, and illegal dumping; remove trash, litter, and other debris; control access; prohibit off-road traffic; and maintain fences and trails. (iii) Preserve improvements: Acquire equipment and/ or install improvements necessary to maintain, operate and manage the open space and habitat preservation land described above. The above description of the Preserve Operations and Maintenance is general in nature. The actual maintenance, operations and management of the open space and habitat preservation land within the Otay Ranch Preserve may be modified from time to time as necessary in order to effectively provide such services in compliance with the requirements of the Resource Management Plan. II MuniFlflancial Page 10 7-34 Attachment B Desctiption of Resource Monitoring Implement the annual biota monitoring and reporti."'lg program consistent '-Vith the Resource Management Plan to identlfy changes in the quality and qu~ntity of preserve resources including 'Wlldlife species, sensitive plants and sensitive habitat types. The above description of the Resource Monitoring is general h'l nature. The actual monitoring and reporting program may be modified from time to time as necessary in order co effectively provide such services consistent \.:\l1.th the requixements of the Resource l.'vIanagemenc Plan. II MuniRnancial Page 11 7-35