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HomeMy WebLinkAboutReso 2008-165 RESOLUTION NO. 2008-]65 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA AUTHORIZING THE LEVY OF MAXIMUM SPECIAL TAXES FOR FISCAL YEAR 2008/2009 WITHIN COMMUNITY FACILITIES DISTRICTS 97-],97-2,97-3,98- ],98-2,98-3,99-],99-2,2000-],200]-],200]-2,07-1, 08-1, 08- M, 09-M, ] ]-M, ]2-1, ]2-M, 13-1 AND 13-M AND DELEGA TING TO THE CITY MANAGER, OR DESIGNEE, THE AUTHORITY TO ESTABLISH THE SPECIAL TAX FOR EACH DISTRICT WHEREAS, the maximum Special Tax rates for Community Facilities Districts 97-], 97-2,97-3,98-],98-2,98-3,99-],99-2,2000-], 200]-], 200]-2, 07-1, 08-1, 08-M, 09-M, ] ]-M, 12-1, 12-M, 13-1 and 13-M authorized, pursuant to the approved rate and method of apportionment of special taxes for each respective community facilities districts, to be levied for fiscal year 2008/2009 are set forth in Exhibits A through S, attached to and incorporated into this Resolution by this reference as if set forth in full; and WHEREAS, the City Council desires to establish the maximum Special Tax rate that may be levied in Community Facilities Districts 97-], 97-2, 97-3, 98-], 98-2, 98-3, 99-1, 99-2, 2000- ],2001-],200]-2,07-1,08-1, 08-M, 09-M, ]]-M, ]2-1, 12-M, 13-] and 13-M in fiscal year 2008/2009 at the rates as set forth in Exhibits A through S and to delegate to and designate the City Manager, or Designee, as the official to prepare a certified list of all parcels subject to the Special Tax levy for each community facilities district including the amount of such Special Tax to be levied on each parcel for fiscal year 2008/2009 as authorized by Govemment Code section 53340. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chula Vista acting as the legislative body of Community Facilities Districts 97-], 97-2, 97-3, 98-], 98-2, 98-3,99-],99-2,2000-],2001-],200]-2,07-1, 08-1, 08-M, 09-M, l]-M, ]2-1, 12-M, 13-1 and 13-M respectively, as follows: SECTION]. That it declares that the foregoing recitals are true and correct. SECTION 2. That it establishes the maximum Special Tax rates that may be levied for fiscal year 2008/2009 in Community Facilities Districts 97-], 97-2, 97-3, 98-], 98-2, 98-3, 99-1, 99-2,2000-],2001-],2001-2,07-1,08-1, 08-M, 09-M, ]]-M, ]2-1, ]2-M, 13-1 and 13-M as the rates set forth in Exhibits A through S attached to this Resolution. SECTION 3. That it delegates, pursuant to Government Code section 53340, the authority to and designates the City Manager, or Designee, as the official to prepare and submit a certified list of all parcels subject to the levy of the Special Tax within the community facilities district to which this Resolution applies including the amount of the Special Tax to be levied on each parcel for fiscal year 2008/2009 and to file such list with the auditor of the County of San Diego on or before the required date or such other later date with the prior written consent of the auditor. The amount of the Special Tax to be levied on each parcel shall be based upon the budget for each community facilities district as previously approved by the City Council and shall not exceed the maximum Special Tax as set forth in Exhibits A through S applicable to the community facilities district in which such parcel being taxed is located. Resolution No. 2008-] 65 Page 2 Presented by Approved as to form by ~$~ ~chard opkins Engineering Director ~~~{~\l\1. Bart C. Miesfeld Interim City Attorney PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista, California, this 8th day of July 2008 by the following vote: AYES: Counci]members: McCann, Ramirez, Rindone, and Cox NAYS: Councilmembers: None ABSENT: Councilmembers: Castaneda ATTEST: ~ CheryCJPox,~ayor A.~-'A a ,( MAJu V Donna R. Norris, c"Mt, Interim City Clerk STATE OF CALIFORNIA ) COUNTY OF SAN DIEGO ) CITY OF CHULA VISTA ) I, Donna R. Norris, Interim City Clerk of Chula Vista, California, do hereby certify that the foregoing Resolution No. 2008-]65 was duly passed, approved, and adopted by the City Council at a regular meeting of the Chula Vista City Council held on the 8th day of July 2008. Executed this 8th day of July 2008. ALa R. ~~,~ Donna R. Norris~ CMC, Interim City Clerk Resolution No. 2008-] 65 EXHIBrt~e 3 Community Facilities District No. 97-1 (Otay Ranch Open Space Maintenance District) Actual Rate Special Tax Area A: Residential $0.1086/sf $0.082/sf $0. 11 lO/sf $0. 11 lO/sf Non-residential $1,471.58/acre $647.24/acre $1,505.26/acre $1,505.26/acre Vacant $1,664.71/acre $O.OO/acre $1,702.81/acre $1,702.81/acre Estimated Revenue Special Tax Area A: $660,054.00 Special Tax Area B: Residential $0.2545/sf $O.2545/sf $O.2603/sf $O.2603/sf Non-residential $3,267.61/acre $3,267.61/acre $3,342.40/acre $3,342.40/acre Vacant $3,695.05/acre $3,695.05/acre $3,779.62/acre $3,779.62/acre , Estimated Revenue Special Tax Area B: $1,235,596.00 CFD 97-1, finances open space maintenance for Otay Ranch SPA One Villages One and Five, and consists of two Special Tax Areas. Area A covers the entire district and includes maintenance of parkways, medians and regional trails along Telegraph Canyon Road, Otay Lakes Road, Paseo Ranchero, La media Road and Olympic Parkway, Telegraph and Poggi Canyon detention basins, channels, and pedestrian bridges. Area B, which excludes the McMillin development, maintains connector trails, slopes and perimeter walls or fences along major streets in the district. The Fiscal Year 2008/2009 budget for Area A is $660,054 and for Area B is $1,235,596. Resolution No. 2008-165 Page 4 EXHIBIT B Community Facilities District No. 97-2 (Dtay Ranch Preserve) Special Tax Area A: Residential $0.0162/sf $0.0138/sf $0.0165/sf $0.0165/sf Non-residential $264.34/.cre $202.01/.cre $270.39/.cre $270.39/.cre Final M.p $264.34/.cre $O.OO/.cre $270.39/.cre $270.39/.cre V.c.nt $ 170.60/.cre $O.OO/acre $174.50/acre $ 174.50/acre Estimated Revenue Special Tax Area A: See Area C Below Special Tax Area B: Residential $0.0063/sf $O.OO/sf $O.OO64/sf $0.0064/sf Non-residential $102. 16/acre 6;O.OO/.cre $104.49/.cre $104.49/acre Final Map $102. 16/.cre $O.OO/acre $104.49/acre $104.49/acre V.cant $65.93/acre $O.OO/.cre $67.43/.cre $67.43/acre Estimated Revenue Special Tax Area B: See Area C Below Special Tax Area C: Residential $0.0168/sf $0.0168/sf $0.0171/sf $0.01711sf Non-residential $270.71/.cre $270.71/acre $276.90/acre $276.90/.cre Final Map $270.711acre $270.71/acre $276.90/acre $276.90/acre V.cant $ 174.71/.cre $ 133.76/.cre $ 178.70/acre $178.70/.cre Estimated Revenue Special Tax Area C: $513,831.67 CFD 97-2 finances perpetual preserve maintenance, operation and management, biota monitoring, preserve security, and preserve improvements in the Otay Ranch Preserve area. The Fiscal Year 2008/2009 budget for this district is set at $565,000. This budget was provided by the County staff, which works in accordance with City staff, together known as the Preserve Owner Manager (pOM). County staff has included in the budget one time costs for baseline biological surveys on estimated .dditionallands conveyed to the POM in FY 2008/2009. I I __J Resolution No. 2008-165 EXIllBIT~ge 5 Community Facilities District No. 97.3 (Dray Ranch McMillin - Bond Issues) FY 2007/2008 Special Tax FY 2008/2009 Special Tax FY 2008/2009 Rates Rates Land Use Maximum Actual Rate Maximum Projected Estimated Catel!ory Rate Rate Rate Revenue Residential $O.3920/sf $O.3199/sf $O.3920/sf $O.3920/sf Commercial $4,OOO/acre $3,226. 14/acre $4,OOO/acre $4,OOO/acre Community $1,OOO/acre $O.OO/acre $1,OOO/acre $1,OOO/acre Puroose Facilitv Undeveloped $7,954/acre $O.OO/acre $7,954/acre $7,954/acre Property Owner $7,954/acre $O.OO/acre $7,954/acre $7,954/acre Association Prooertv Estimated Revenue: $1,041,870.89 CFD 97-3 was formed for the purpose of acquiring and financing public facilities improvements, such as portions of La Media Road and East Palomar Street, in Otay Ranch McMillin SPA One. Fiscal Year 2008/2009 administrative ,costs for CFD 97-3 are set at or less than $75,000 (as given in the bond indenture), and scheduled debt service on the bonds to be paid from the Fiscal Year 2008/2009 levy is $818,598.76. '- Resolution No. 2008-165 Page 6 EXIllBIT D Community Facilities District No. 98.1 (Otay Project Interim Open Space Maintenance District) l<'Y 2007/2008 Special Tax l<'Y 2008/2009 Special Tax FY 2008/2009 Rates Rates Land Use Maximum Actual Rate Maximum Projected Estimated Catel!ory Rate Rate Rate Revenue Taxable Property $132.611acre $127.33/acre $ 135.64/acre $135.64/acre Estimated Revenue: $87,582.75 Community Facilities District No. 98.2 (Otay Project McMillin Interim Open Space Maintenance District) FY 2007/2008 Special Tax FY 2008/2009 Special Tax FY 2008/2009 Rates Rates Land Use Maximum Actual Rate Maximum Projected Estimated Catel!ory Rate Rate Rate Revenue Taxable Property $61.l8/acre $O.OO/acre $62.58/acre $O.OO/acre Estimated Revenue: $0.00 CFDs 98-1 and 98-2 were created as interim districts because the areas of Otay Ranch included these districts were not developed and the density of development was not yet known at the time that these districts were established. These districts were formed to provide a guarantee for financing of a portion of the cost of maintenance of portions of the parkways and medians along Telegraph Canyon Road, Paseo Ranchero, and Olympic Parkway. They also include the Telegraph and Poggi Canyon detention basins and channels allocable to the properties within these districts. Both CFD 98-1 and CFD 98-2 will remain in place until a permanent financing plan is established for the maintenance of the facilities, through the formation of new CFDs. A portion of CFD 98-1 has been absorbed by CFD 99-2 with other portions absorbed by CFDs 08-M, 12-M, and 13-M. The Fiscal Year 2008/2009 budget for this district totals $104,506. A portion of CFD 98-2 has been taken over by maintenance district CFD 08-M with other portions f the district covered through CFD 12-M. None of the improvements in CFD 98-2 are expected to be turned over to the City in Fiscal Year 200812009 and therefore no special taxes will be levied within this district in Fiscal year 200812009. J Resolution No. 2008-] 65 EXHIBIT ~ge 7 Community Facilities District No. 98-3 (Sunbow II Open Space Maintenance District No. 35) FY 2007/2008 Special Tax FY 20011/2009 Special Tax FY 20011/2009 Rates Rates Land Use Maximum Actual Rate Maximum Projected Estimated Catel!orv Rate Rate Rate Revenue Residential $447.S7/EDU $447.S6/EDU $45S.l2/EDU $45S.l2/EDU Commercial $3,90S.l6/acre $390S.l5/acre $3997.61/acre $3997.61/acre Industrial $3,490. 94/acre $2,6l4.05/acre $3,570.84/acre $3,570.84/acre Undeveloped $2,676.09/acre $200.39/acre $2,737.34/acre $2,737.34/acre Estimated Revenue: $1,285,234.95 CFD 9S-3 finances open space maintenance in the Sunbow II development. This includes maintenance of street medians, parkways, slopes, drainage channels, and basins, and biological monitoring of native and re-vegetated open space. The Fiscal Year 2008/2009 budget for this district totals $991,464. '- Resolution No. 2008-165 Page 8 EXmBIT F Community Facilities District No. 99.1 (Dtay Ranch SPA I -Bond Issue) Actual Rate Zone A (Village 1): Residential $0.28/sf $0.2148/sf $0.28/sf $0.28/sf Commercial $I,600/acre $I,273.36/acre $I,600/acre $I,600/acre Community $400/acre $O.OO/acre $400/acre $400/acre Pumose Facilitv Estimated Revenue Special Tax Area A: See Entire District Below Zone B (Village 5): Residential $400/DU+0.29/sf $300.7IDU+O.23/sf $400/DU+O.29/sf $400/DU+0.29/sf Commercial $3,7 I 7/acre $O.OO/acre $3,717/acre $3,717/acre Community $929/acre ' $b.OO/acre $929/acre $929/acre Purpose Facilitv Estimated Revenue Special Tax Area B: See Entire District Below Zone C (Village 1 West): Residential $400/DU+O.44/sf $303.64/DU+0.33/sf $400/DU+0.44/sf $400/DU+0.44/sf Commercial $4,266/acre $O.OO/acre $4,266/acre $4,266/acre Community $I,066/acre $O.OO/acre $I,066/acre $I,066/acre Pumose Facilitv Estimated Revenue Special Tax Area C: See Entire District Below Entire District: Undeveloped $8,864/acre $O.OO/acre $8,864/acre $8,864/acre Property Owner Association $8,864/acre $O.OO/acre $8,864/acre $8,864/acre Property Estimated Revenue Special Tax Area C: $3,788,030.12 CFD 99-1 finances public improvements in a portion of Dtay Ranch Village I, Village 5 and Village I West. For CFD 99-1, administrative costs of $75,000 (as given in the bond indenture) and scheduled debt service on the bonds of $2,916,301.26 are anticipated in Fiscal Year 2008/2009. j Resolution No. 2008-165 EXHIBIyege 9 Community Facilities District No. 99-2 (Otcry Ranch SPA 1, Village 1 West - Open Space Maintenance) FY 200712008 Special Tax FY 200812009 Special Tax FY 2008/2009 Rates Rates Land Use Maximum Actual Rate Maximum Projected Estimated Category Rate Rate Rate Revenue Residential $O.45421sf $O.2402lsf $O.4645/sf $O.4645/sf Undeveloped $5,602.89/acre $O.OO/acre $5,73] .13/acre $5,731.13/acre Estimated Revenue: $1,226,731.42 As verified by the City's Special District Counsel, property owners within the area of CFD 98-1 not included within CFD 99-2 will only be taxed for landscaped areas from the centerline of Olympic Parkway south to the District boundary. CFD 99-2 has taken over the financing of that portion of costs of maintenance allocable to the property within CFD 98-1 fro the centerline of Olympic parkway north to Telegraph Canyon Road. A total budget of $737,002 is for Fiscal Year 2008/2009. Resolution No. 2008-165 Page 10 EXHIBIT H Community Facilities District No. 2000-1 (Sunbow II Villages 5 through 10 - Bond Issue) FY 2007/2008 Special Tax FY 2008/2009 Special Tax ).'Y 200812009 Rates Rates Land Use Maximum Actual Rate Maximum Projected Estimated Cate or Rate Rate Rate Revenue Residential $O.4400/sf $O.3829/sf $O.4400/sf $O.4400/sf Undeveloped $7,851/acre $O.OO/acre $7,8511acre $7,8511acre Property Owner $7,851/acre $O.OO/acre $7,8511acre $7,851/acre Association Pro ert Estimated Revenue: $667,703.96 CFD 2001-1 finances various public facilities serving the Sunbow II development such as Telegraph Canyon Road, Medical Center Road and East Palomar Street. For CFD 2000-1, administrative costs for Fiscal Year 2008/2009 are projected to be $75,000 (as given in the bond indenture) and scheduled debt service on the bonds is $504,926.26. Resolution No. 2008-165 EXmBrr'll'e 11 Community Facilities District No. 2001.1 (San Miguel Ranch - Bond Issue) Actual Rate Improvement Area A: Residential $47S/DU+O.34/sf $411.S4/DU+O.29/sf $475/DU+O.34/sf $47S'/DU+O.34/sf Commercial $5,0911acre $O.OO/acre $5,0911acre $5,0911acre Undeveloped $1O,376/acre $O.OO/acre $1O,376/acre $1O,376/acre Estimated Revenue Improvement Area A: See Entire District Below Improvement Area B: Residential $47S/DU+O.821sf $47S/DU+O.82/sf $47S/DU+O.821sf $475/DU+O.821sf Commercial $4,OOO/acre $4,OOO/acre $4,000/acre $4,OOO/acre Undeveloped $lO,444/acre $8,922. 17/acre $lO,444/acre $lO,444/acre (Zone 1) Undeveloped $4,444/acre $O.OO/acre $4,444/acre $4,444/acre (Zone 2) Estimated Revenue Improvement Area B: See Entire District Below Estimated Revenue Entire District: $2,222,298.38 CFD 2001-1 is divided by SR-125 into two separate improvement areas, Improvement Area A (east of SR-125) and Improvement Area B (west of SR-125) and finances various public facilities serving the San Miguel Ranch development such as Mount Miguel Road (EastlWest), Proctor Valley Road (EastlWest), Calle La Marina, Paseo Vera Cruz, and Calle La Quinta. For CFD 2001-1 Improvement Area A administrative costs for Fiscal Year 2008/2009 are projected to be $75,000 (as given in the bond indenture) and scheduled debt service on the Improvement Area A bonds is $991,366.26 For CFD 2001-1 Improvement Area B, administrative costs for Fiscal Year 2008/2009 are projected to be $75,000 (as given in the bond indenture) and scheduled debt service on the Improvement Area B bonds is $830,030.00. Resolution No. 2008- I 65 Page 12 EXHIBIT J Community Facilities District No. 2001-2 (McMillin Otay Ranch, Village 6 - Bond Issue) FY 2007/2008 Special Tax .'Y 2008/2009 Special Tax FY Rates Rates 2008/2009 Land Use Maximum Actual Rate Maximum Projected Estimated Cate20ry Rate Rate Rate Revenue Residenti.l $440/DU+O.34/sf $45. 76/DU+O.27 /sf $440/DU+O.34/sf $440/DU+O.34/sf Non-residenti.l $11 ,365/.cre $O.OO/.cre $11,365/.cre $ 11,365/.cre Undeveloped $11,365/.cre $O.OO/.cre $ 11,365/.cre $ 11,365/.cre Estimated Revenue: $884,133.53 CFD 2001-2 is located within Otay Ranch Village Six and finances the backbone streets and associated improvements (i.e. grading, sewer, streets, landscaping, utilities, etc.) public facilities improvements and interim transportation facilities. The main facilities include Olympic Parkway, la Media Road, Birch parkway, La Media Bridge, east Olympic Parkway Bridge, and a Neighborhood Park. For CFD 2001-2, administration costs for Fiscal Year 2008/2009 are projected to be $75,000 (as given in the bond indenture) and schedl!lled debt service on the bonds is $706,855.00. Resolution No. 2008-165 EXHlBIT~ 13 Community Facilities District No. 07-1 (Dtay Ranch Village 11 - Bond Issue) FY 2007/2008 Special Tax FY 200812009 Special ICY 2008/2009 Rates Tax Rates Land Use Density Maximum Actual Rate Maximum Projected Estimated Category Rate Rate Rate Revenue Residential 0108 $1,675/DU $1,675/DU $1,675/DU $1,675/DU Residential >8 10 20 $1,340/DU $1,340/DU $1,340/DU $1,340/DU Residential >20 $1,005/DU $1,005/DU $1,005/DU $1,005/DU Non-residential N/A $6,OOO/acre $O.OO/acre $6,OOO/acre $6,000/acre $13,955/acre $13,955/acre $13,955/acre. $13,955/acre $24,218/acre $24,218/acre $24,218/acre $24,218/acre $13,955/acre $O.OO/acre $13,955/acre $13,955/acre $24,218/acre $8,799.63/acre $24,218/acre $24,218/acre $13,955/acre $O.OO/acre $13,955/acre $13,955/acre $24,218/acre $O.OO/acre $24,218/acre $24,218/acre Estimated Revenue: $3,774,146.43 CFD 07-1 finances the acqulSltlOn or construction of certain public facilities (i.e,. grading, landscaping, streets, utilities, drainage, sewer, etc.) serving Brookfield Shea Otay project, as well as, selected "Traffic Enhancement" facilities within the greater eastern territories of Chu1a Vista. The Brookfield Shea Otay project is bounded on the south and east by Hunte Parkway, a curving arterial from south to northeast. Olympic Parkway forms the northern edge and to the west is the extension of Eastlake Parkway. The administration costs for FY 2008/2009 are projected to be $75,000 (as given in the bond indenture) and scheduled debt service on the bonds is $3,030,860.00. Resolution No. 2008-165 Page 14 EXHffiIT L Community Facilities District No. 08-M (McMillin Otay Ranch and Otay Ranch Village 6 - Open Space Maintenance) Land Use Category Improvement Area 1: I<'Y 2007/2008 Special Tax 1IIIi.. FY 2008/2009 Special Tax Rates FY 2008/2009 Actual Rate Maximum Rate Projected Rate II, o. _. o. Residenti.1 $0.4194/sf $0. I 840/sf $0.4289/sf $0.4289/sf Multi-f.mily $0.3091/sf $0.1356/sf $$0.3161/sf $0.3l61/sf Non-residenti.1 $2,622.451.cre $O.OOI.cre $2,682.47/acre $2,682.47/.cre Final Map $6,957.61/.cre $O.OOI.cre $7,1 16.86/.cre $7,116.86/.cre Other tax.ble- $6,957.61/.cre $O.OOI.cre $7,116.86/.cre $7,116.86/.cre Residenti.1 Other taxable - $6,477 .06/acre $O.OOI.cre $6,625.31/.cre $6,625.3I/.cre Multi-family Other taxable - $2,622.451.cre $O.OOI.cre $2,682.47/.cre $2,682.47/.cre Non-residential Property Assoc. $6,957.61/.cre $O.OOI.cre $7,1 I 6. 86/.cre $7,116.86/.cre Property Estimated Revenue Area 1: $694,498.72 Improvement Area 2: Residenti.l $0.2156/sf $0.0820/sf $0.2205Isf $0.2205Isf Multi-family $0.2156/sf $0.0820Isf $0.2205Isf $0.2205Isf Non-residenti.l $4,466.251.cre $O.OOI.cre $4,568.47/acre $4,568.47/acre Fin.l M.p $4,466.251.cre $O.OOI.cre $4,568.47/.cre $4,568.47/.cre Other taxable $4,466.251.cre $O.OOI.cre $4,568.47/acre $4,568.47/.cre Property Assoc. $4,466.251.cre $O.OOI.cre $4,568.47/.cre $4,568.47/.cre Property Estimated Revenue Area 2: $471 ,999 .34 CFD 08-M finances the perpetual operation and maintenance of slopes, medians, parkways, trails, perimeter walls, perimeter fencing and storm water treatment facilities associated with Village 6, McMillin Otay Ranch and Otay Ranch Company. The budgets for Fiscal Year 208/2009 are $582,214 for Improvement Area I and $376,450 for Improvement Area 2. Resolution No. 2008-165 PaRe 15 EXHIBIT !VI Community Facilities District No. 08-1 (Otay Ranch Village Six - Bond Issue) FY 2007/2008 Special Tax Rates FY 2008/2009 Special Tax FY Rates 2008/2009 Land Use Maximum Actual Rate Maximum Projected I Estimated Category Rate Rate Rate Revenue Residential $800iDU+O.35/sf $798.61/DU+O.35/sf $800iDU+O.35/sf $800iDU+O.35/sf Non-residential $6,OOO/acre $O.OO/acre $6,OOO/acre $6,OOO/acre Zone A - $16,858/acre $O.OO/acre $16,858/acre $16,858/acre Undeveloped Zone B - $26,445/acre $O.OO/acre $26,445/acre $26,445/acre Undeveloped Zone A - Provisional $16,858/acre $O.OO/acre $16,858/acre $16,858/acre Undeveloped Zone A - Provisional $26,445/acre $O.OO/acre $26,445/acre $26,445/acre Undeveloued Estimated Revenue: $1,886,768.00 CFD 08-1 finances the construction 'of backbone streets and associated improvements (i.e. grading, sewer, streets, landscaping, utilities, etc.), public facilities, DIF improvements and Traffic Enhancement Facilities within Otay Ranch Village Six. This district is divided into Zones A and B. The administrative costs for Fiscal Year 2008/2009 are projected to be $75,000 (as given in the bond indenture) and scheduled debt ser vice on the bonds is $1,544,668.76. Resolution No. 2008-165 Page 16 EXHIBIT N Community Facilities District No. 09-M (Otay Ranch Village 11 - Brookfield Shea) Residential Oto 8 $542.04/DU $346.36/DU $554.44/DU $554.44/DU Residential >8 to 20 $433.63/DU $277.08/DU $443.55/DU $443.55/DU Residential >20 $325.2I/DU $207.80/DU $332.65/DU $332.65/DU Non-residential N/A $2,081.46/acre $O.OO/acre $2,129.10/acre $2,129.10/acre Undeveloped: $2,081.46/acre $O.OO/acre $2,129.10/acre $2,129.10/acre $2,081.46/acre $O.OO/acre $2,129.10/acre $2,129.10/acre $2,081.46/acre' $O.OO/acre $2,129.10/acre $2,129.10/acre Estimated Revenue: $901,593.73 CFD 09-M finances the perpetual operation and maintenance of slopes, medians, parkways, trails, perimeter walls, perimeter fencing and storm water treatment facilities associated with Village II, Brookfield Shea Otay. The Fiscal Year 2008/2009 budget is estimated to be $920,056.00. Resolution No. 2008-165 Pijge 17 EXHIBIT IT Community Facilities District No. ll-M (Rolling Hills Ranch McMillin - Open Space Maintenance) FY 2007/2008 Special Tax FY 2008/2009 Special Tax F\: 2008/2009 Rates Rates Land Use Maximum Actual Rate Maximum Projected Estimated Category Rate Rate Rate Revenue Residential $353.31/DU $O.OO/DU $361.39/DU $361.39/DU Non-residential $720. 12/acre $O.OO/acre $736.60/acre $736.60/acre Final Map $720.12/acre $O.OO/acre $736.60/acre $736.60/acre Other taxable $720. 12/acre $O.OO/acre $736.60/ocre $736.6010cre Property Assoc. $720. 12/0cre $O.OOlocre $736.6010cre $736.6010cre Pro~ertv Estimated Revenue: $170,460.54 CFD 11-M finances the perpetual operation, monitoring and maintenance of Multiple Species Conservation Program (MSCP) lots, Tarplant Preserve lots, Johnson Canyon Tarplant Preserve and storm water treatment facilities associated with Rolling Hills Ranch, Sub Area III. The Fiscal Year 2008/2009 budget is estimated to be $56,174. Resolution No. 2008-165 Page 18 EXHIBIT P Community Facilities District No. 12-M (McMillin Otay Ranch and Otay Ranch Village Seven - Open Space Maintenance) Actual Rate Developed: Improvement Area 1 - $0 A064/ sf $OA064/sf $OAI57/sf $0.4157/sf Residential Improvement Area 1 - $7,991.17/acre $O.OO/acre $8,174.08/acre $8,174.08/acre Non-residential Improvement Area 2 - $0.5553/sf $OA690/sf $0.5680/sf $O.5680/sf Residential Improvement Area - $8,943.79/acre $O.OO/acre $9,148.50/acre $9,148.50/acre Non-residential Undeveloped: Improvement Area 1 - $7,991.17/acre $6,035.73/acre $8,174.08/acre $8,174.08/acre Final Man Improvement Area 1 - $7,991.17/acre $O.OO/acre $8,174.08/acre $8, I 74.08/acre Other Taxable Pronertv Improvement Area 1 - I Taxable Property Owner $7,991.17/acre I $O.OO/acre $8, I 74.08/acre $8,174.08/acre I Assoc. Pronertv Improvement Area 2 - $8,943.79/acre $O.OO/acre $9,148.50/acr $9,148.50/acr Final Man Improvement Area 2 - $8,943.79/acre $O.OO/acre $9,148.50/acr $9,148.50/acr Other Taxable Pronertv Improvement Area 2 - Taxable Property Owner $8,943.79/acre $O.OO/acre $9, I 48.50/acr $9,148.50/acr Association Pronertv Estimated Revenue: $924,659.32 CFD 12-M provides the fmances for the perpetual operation and maintenance of landscaping and storm water quality improvements associated with McMillin Otay Ranch and Otay Ranch Village 7. Improvement Area I generally lies south of Birch Road, east of Magdalena Avenue, and west of SR-125. Improvement Area 2 is generally located east of La Media Road, south of Birch Road, and west of Magdalena Avenue. The budgets for Fiscal Year 2008/2009 are $414,000 for Improvement Area No.1 and $477,836 for Improvement Area No.2. Resolution No. 2008-165 P;!ge 19 EXHIBIT Il Community Facilities District No. 12-1 (McMillin Otay Ranch Village Seven - Bond Issue) FY 2007/2008 Special Tax FY 2008/2009 Special Tax FY Ra tes Rates 2008/2009 Land Use Maximnm Actnal Rate Maximum Projected Estimated Category Rate Rate Rate Revenue Residential $890IDU+0.79/sf $890IDU+0.79/sf $890IDU+0.79/sf $890IDU+0.79/sf Non-residential $6,000/acre $O.OO/acre $6,000/acre $6,000/acre Zone A - $24,383/acre $16,243.95/acre $24,383/acre $24,383/acre Undeveloped Zone B - $41,621/acre $27,727.lIacre $41,621/acre I Undeveloped $41,62I1acre i Zone A - $24,383/acre $O.OO/acre $24,383/acre $24,383/acre Contingent Taxable Zone A - $41,621/acre $O.OO/acre $41,621/acre $41,621/acre Contingent Taxable Estimated Revenue: $2,107,781.83 CFD 12-1 finances the construction pf backbone streets and associated improvements (i.e., grading, sewer, streets, landscaping, utilities, etc.), public facilities, and DIF improvements within McMillin's portion of Otay Ranch Village Seven. This district is divided into Zone A and Zone B. The administrative costs for Fiscal Year 2008/2009 are projected to be $75,000 (as given in the bond indenture) and scheduled debt service on the bonds is $1,491,131.26. Resolution No. 2008-165 Page 20 EXHIBIT R Community Facilities District No. 13-M (Otay Ranch Village Two) FY 2007/2008 Special Tax FY 2008/2009 Special Tax FY 2008/2009 Rates Rates Land Use Maximum Actual Rate Maximum Projected Estimated Category Rate Rate Rate Revenue Residential $O.458/sf $O.OO/DU $O.4684/sf $O.4684/sf Non-residential $7,653.09/acre $O.OO/acre $7,828.26/acre $7,828.26/acre Final Map $7,653.09/acre $O.OO/acre $7,828.26/acre $7,828.26/acre Other taxable $7,653.09/acre $57.39/acre $7,828.26/acre $7,828.26/acre Taxable Property O'Mler Assooe. $7,653.09/acre $O.OO/acre $7,828.26/acre $7,828.26/acre Property Estimated Revenue: $5,721,753.51 CFD 13-M provides the necessary funding for the perpetual operation and maintenance of public landscaping, storm water quality, walls, fencing, trails, pedestrian bridges, and lighting improvements for Otay Ranch Village Two. . I Otay Ranch Village Two lies south of Olympic Parkway, west of La Media Road, and west of the Landfill Site. No public improvements are expected to be turned over to the City in Fiscal Year 2008/2009. The budget for Fiscal Year 2008/2009 is $4,050. J Resolution No. 2008-165 Page 21 EXHIBIT S Community Facilities District No. 13-1 (Oray Ranch Village Seven) FY 2007/2008 Special Tax Rates FY 2008/2009 Special Tax Rates FY 2008/2009 Land Use Maximum Rate Actual Rate Maximum Rate Projected Rate Estimated Category Revenue Residential $2,750IDU+O.45/sf $2,750IDU+O.45/sf $2,750IDU+O.45/sf $2,750IDU+O.45/sf Non- $6,000/acre $O.OO/acre $6,000/acre $6,000/acre residential Zone A - Undevelope $59,505/acre $43,968.24/acre $59,505/acre $59,505/acre d Zone B - Undevelope $37,818/acre $27,943.72/acre $37,818/acre $37,818/acre d Zone A - $59,505/acre I Contingent $O.OO/acre $59,505/acre $59,505/acre Taxable Zone A - i Contingent $37,8 I 8/acre $O.OO/acre $37,818/acre $37,818/acre i Taxable I I I Estimated Revenue: I $1,420,585,14 CFD 13-1 finances the construction of backbone streets and associated improvements (i.e., grading, sewer, streets, landscaping, utilities, etc), public facilities, and DIF improvements within Otay Ranch Village Seven. This district is divided into zone A and Zone B. The administrative costs for Fiscal Year 2008/2009 are projected to be $75,000 (as given in the bond indenture) and scheduled debt service on the bonds is $1,114,410.00.