HomeMy WebLinkAboutMINUTES - 01252011 - C.48RECOMMENDATION(S):
ACCEPT the FY 2010 Community Facilities District Administration Report on County of Contra Costa Community
Facilities District No. 2001-1 (Norris Canyon) as required by Sections 50075.3 and 53411 of the California
Government Code.
FISCAL IMPACT:
None. The report relates to Special Taxes approved by voters and bonds issued and secured by said Special Taxes.
BACKGROUND:
On June 5, 2001 the Contra Costa County Board of Supervisors authorized the establishment of Community Facilities
District No. 2001-1 (Norris Canyon). The creation of the Community Facilities District (CFD) authorized the levy of
a Mello-Roos Special Tax on the Norris Canyon Estates subdivision in the San Ramon area. The action of the Board
also authorized the issuance of bonded indebtedness secured by the approved Special Tax in the amount of
$7,220,000. The (CFD) bonds were issued on June 14, 2001.
The California Government Code Sections 50075.3 and 53411 require that specified information be provided to the
Board of Supervisors on an annual basis. The report requirements
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD
COMMITTEE
Action of Board On: 01/25/2011 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF SUPERVISORS
AYES 5 NOES ____
ABSENT ____ ABSTAIN ____
RECUSE ____
Contact: Jim Kennedy (925)
335-7225
I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of
the Board of Supervisors on the date shown.
ATTESTED: January 25, 2011
David J. Twa, County Administrator and Clerk of the Board of Supervisors
By: June McHuen, Deputy
cc:
C.48
To:Board of Supervisors
From:Robert Campbell, Auditor-Controller
Date:January 25, 2011
Contra
Costa
County
Subject:County of Contra Costa Community Facilities District No. 2001-1 (Norris
Canyon)
BACKGROUND: (CONT'D)
include information on Mello-Roos CFD Special Taxes collected and CFD Bond issued. The attached CFD
Administration Report fulfills the requirement of the Government Code. The reporting requirements are summarized
below:
Section 50075.3
Item (a): Identify amount of special taxes that have been collected and expended.
Response to Item (a): The fiscal year 2009-10 special tax levy was $447,601. Since the CFD is on the County Teeter
Plan, the full amount of the tax levy was remitted to the CFD. The total levy was used to pay debt services in March
and September 2010 on the CFD bonds as well as administrative costs for the CFD.
Item (b): Identify the status of any project required or authorized to be funded by the special taxes.
Response to Item (b): All CFD No. 2001-1 improvements have been completed and accepted by the Public Works
Department of the County.
Section 53411
Item (a): Identify the amount of bonds that have been collected and expended.
Response to Item (a): A total of $7,220,000 in special tax bonds was issued by the County on June 14, 2001. Upon
issuance of the bonds, $6,000,000 from bond proceeds was deposited into the Improvement Fund and has been used
to acquire the CFD No. 2001-1 improvements from the developer. An additional $170,000 was used to pay the costs
of issuing the bonds. Approximately $417,000 was deposited in the Reserve Fund, and the remaining $487,000 was
deposited in the Bond Fund to be used for capitalized interest.
Item (b): Identify the status of any project required or authorized to be funded from bond proceeds:
Response to Item (b): All CFD No. 2001-1 improvements have been completed and accepted by the Public Works
Department of the County.
Not part of the Government Code required report, but provided as a matter of information is the following
information on the incidence of delinquencies within the District. The total amount collected by the County for the
fiscal year 2009-10 CFD special tax levy was $447,601 pursuant to the Teeter Plan. Property owners for 15 parcels
were delinquent a total of $20,107 in payments of the fiscal year 2009-10 CFD special tax levy. The delinquency
percentage in the District is 4.49%, which is below the threshold for which the County is obligated to take affirmative
action to remedy. This delinquency percentage is higher than in past years, therefore staff and the Special Tax
Consultant retained by the County are monitoring payment activity.
CONSEQUENCE OF NEGATIVE ACTION:
The Redevelopment Agency will be in violation of California Government Code Sections 50075.3 and 53411.
CHILDREN'S IMPACT STATEMENT:
None.