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HomeMy WebLinkAboutMINUTES - 05182004 - SD.2 Contra Costa TO: BOARD OF SUPERVISORS �.'�County FROM: Dennis M. Barry, AICP, Director of Community Development DATE: May 18, 2004 SUBJECT: Windemere Ranch Community Facilities District SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION RECOMMENDATIONS HOLD public hearing on the financing of public improvements in the Windemere Ranch —Dougherty Valley area—with community facility district special tax bonds proposed to be issued by ABAG Finance Authority for Nonprofit Corporations; and ADOPT Resolution Finding, pursuant to section 6586 of the California Government Code, that significant public benefits will arise from the financing of public improvements with the proceeds of special tax bonds. FISCAL IMPACT Nene. No general funds are involved. Bonds proposed to be issued would be secured solely by a pledge of special tax,and reserve funds created at the time of issuance. County costs associated with enrolling the special tax, and administering their collection will be covered by the District BACKGROUND/REASONS FOR RECOMMENDATIONS Through the ABAG Finance Authority for Nonprofit Corporations the developer of the Windemere Ranch portion of the Dougherty Valley is proposing to finance up to$45 million of public infrastructure through the creation of a Mello-Roos Community Facilities District(CFD),and the issuance of bonds secured by the landowner approved special tax. CONTINUED ON ATTACHMENT: ®X_ SIGNATURE: LA;tECOMMENDATION OF COUNTY ADMINISTRATOR ':R' ECOMAItODATION UOARD COMMITTEE -,,APPROVE OTHER SICNATURE(SVfa ACTION OF BO O'N %y 18, 2004 APPROVED/As RECOMMENDED X VOTE OF SUPERVISORS I HEREBY CERTIFY THAT THIS IS A x UNANIMOUS (ABSENT none ) TRUE AND CORRECT COPY OF AN AYES: NOES: ACTION TAKEN AND ENTERED ON THE ABSENT: ABSTAIN: MINUTES OF THE BOARD OF SUPERVISORS ON THE DATE SHOWN. Source: Jim Kennedy 335-1255 ATTESTED MAY 18, 2004 orifi: Community Development JOHN SWEETEN, CLERK OF THE cc: County Administrator's Office BOARD OF SUPERVISORS AND County Counsel COUNTY ADMINISTRATOR Community Development Auditor Controller Treasurer-Tax Collector via: Community Development-RDA BY!-/` '` -' UTY • ABAG Finance Authority * Quint & Thimmig \\fs-cd\users$\lnoble\Personal\Board Orders and Greenies\BOARD.5.04.windemereranch.doc BACKGROUND/REASONS FOR RECOMMENDATIONS Public infrastructure includes portions of Windemere and East Branch Parkways, parks, water and sewer facilities, storm drains, bridges, and other related public improvements (as more fully described in Exhibit A). The public improvements relate to Phases 11-V of Windemere, which projects have approved vesting tentative maps (Exhibit B). The master developer is Windemere BLC Land Company, a joint venture among Lennar Homes of California, Brookfield Bay Area Holdings, and Centex Homes. The proposed CFD does not include any of the properties being developed by Fairfield Residential as affordable rental housing units. The California Government Code (Section 6586.5(a)) requires the legislative body of the jurisdiction in which the public improvements are to be financed to make findings of significant public benefit, and to approve the financing of the public improvements by a Community Facilities District governed by the ABAG Finance Authority. This Board Order and the recommended Resolution are the record on which the Board of Supervisors may make their findings. The CFD bonds are proposed to be issued by the ABAG Finance Authority in order to integrate the proposed financing with previously issued Assessment Bonds for the project issued by ABAG. Even though the ABAG Finance Authority is the issuer of the CFD Bonds, the issuance was reviewed by the County Debt Advisory Committee (the County Auditor-Controller, the Treasurer-Tax Collector, and the County Administrator, or their designees)for conformance with adopted County"Financing Policies for Community Facilities District." This review is scheduled for May 17, prior to the Board of Supervisors taking action. The Community Facilities District and the proposed bonds to be issued have been structured to comply with the County Financing Policies. EXHIBIT A ABAG FINANCE AUTHORITY FOR NONPROFIT CORPORATIONS COMMUNITY FACILITIES DISTRICT NO.2004-2 (WINDEMERE RANCH) DESCRIPTION OF PUBLIC IMPROVEMENTS ELIGIBLE TO BE FINANCED BY THE DISTRICT FACILITIES The District may finance all or a portion of the casts of the fallowing: 1. Roads, streets and parkways within or in the vicinity of the District, including related grading, paving, curb and gutter, sidewalk, landscaping, sound wall, storm drain, sanitary sewer, portable water, recycled water, joint trench and street lights; for roads, streets and parkways including but not limited to Albion Road Phase 2, Windemere Parkway Phases 2 and 5,East Branch Parkway Phases 4 and 5,Z Street and X Street as indicated on the map attached hereto. 2. Water Quality Ponds, including grading, paving, fencing, access road construction, storm drain pipes, riser structure and outfall protection for such pond; including but not limited to Ponds 6, 7, 8, 11 and 14 as indicated on the map attached hereto. 3. Parks, including grading, paving, storm drain, utilities, landscaping, athletic fields and miscellaneous structures for parks; including but not limited to Phase 2 Parks (Hidden Valley and Creekview Parks), Phase 3 Parks (neighborhood park),and Phase 4 Parks (pocket park) as indicated on the map attached hereto. 4. Creeks, including grading, fabric, geoweb, rock slope protection and, as applicable, storm drain and maintenance road; including but not limited to Phase 2 Creeks (Southfork Creek), Phase 3 Creeks (A and K creeks) and Phase 4 Creeks (E and G creeks) as indicated on the map attached hereto. 5. japonica Bridge, including abutments, rock slope protection, girders, bridge deck,utilities and street lights. 6. Middle School storm drain and sanity sewer, including, appurtenant structures, energy dissipater and rock rip rap. The foregoing shall include all engineering,design,plan check and inspection fees. The location of an such improvements on the attached map is for general reference only, and the location of any specific improvement may vary from that indicated on the attached map. A-1 OTHER The District may also finance any of the following: 1. Bond related expenses, including underwriter's discount, reserve fund, capitalized interest,bond and underwriter's counsel,disclosure counsel and all other incidental expenses. 2. Administrative fees of the Authority, the bond trustee or fiscal agent related to the District and any bonded indebtedness of the District. 3. Reimbursement of costs related to the formation of the District advanced by the Authority or any landowner or developer within the District, as well as reimbursement of any costs advanced by the Authority or any landowner or developer within the District, for facilities,fees or other purposes or costs of the District. A-2 j r • `"`-PHASE 3 GREEKS �~ '-PHASE JAPONICA NEIGHBORHOOD PARK -'' r.-r�-�-�'"-' � BRIDGE / i PHASE 3 j .--Z STREET -PHASE 2 NEIGHBORHOOD PARK !PHASE i (/ PHASE 2 jALBION ROAD PRASE -POND -- MULTI P©ND 7 FAMILY, // r PHASE GREEKS � I � ,-PHASE 2 WINDEMERE I! jr j PHASE 2-- PARKWAY j ��i POCKET PARK PHASE 2 t'IIASE 4, PHASE 5 - - i GREEKS PHASE d J X STRfEi xPHASE 5 PHASE d \-PGND 8 X STREET v � 1PHASE 4 COMMUNITY PRASE 5 PHASE b PARK I `. j y EAST BRANCH PARKWAY l,MIDDLE SCHOOL`. "-POND 11 STORM DRAIN & PriASE 5 SEWER SYSTEM EAST BRANCH ' AM CONNECTION —�PHASE 4...._._�ARKWAT �!r POCKE` PARK ` ---- 6 PHASE 5 WINDEMERE f' ~. PARKWAY POND 144`. ' COMMUNITY FACILITIES DISTRICT" 2404-2 PROPOSED FACILITIES WIN"EMIEREI DOUGHERTY VALLEY SPECIFIC PLAN I A-3 EXHIBIT B Phasing Map of Windemere Ranch RESOLUTION NO. my,/95c) A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COUNTY OF CONTRA COSTA MAKING FINDINGS WITH RESPECT TO AND APPROVING THE ISSUANCE OF BONDS BY THE ABAG FINANCING AUTHORITY FOR NONPROFIT CORPORATIONS—WINDEMERE RANCH WHEREAS, the owners of land in Phases 11 through V of the Windemere Ranch development (collectively, the "Property Owners") have requested that the ABAG Financing Authority For Nonprofit Corporations (the "Authority") consider the establishment of a community facilities district (a "CFD") under the Mello-Roos Community Facilities Act of 1982, as amended (the "Act") and the issuance of bonds (the "Bonds") by the CFD to finance various public infrastructure improvements (the "Improvements") necessitated by development occurring in the Windemere Ranch area; and WHEREAS, the County of Contra Costa (the "County") is a member of the Authority; and WHEREAS, the Authority's "Guidelines for Issuance" require, in effect, that the member of the Authority is whose jurisdiction the Development is located adopt a resolution approving the financing of the Improvements by a CFD created and governed by the Board of Directors of the Authority, prior to final consideration of the financing by the Authority; and Section 6586.5(a)(2) of the California Government Code (the "Code") requires, in effect, that a local agency within whose boundaries the Improvements are to be located approve the financing and make a finding of significant public benefit after a public hearing held by the Board of Supervisors of the County; and WHEREAS, the proposed financing has been reviewed by the County's Debt Advisory Committee under the County's Financing Policies for Community Facilities Districts (the "Policies"), and the financing is consistent with the requirements of Section VII.B. of the Policies; and WHEREAS, the Board of Supervisors of the County (the "Board") has on this date held a duly noticed public hearing on the financing of the Improvements with the proceeds of the Bonds, as required by the Code; and WHEREAS, the Board now desires to mare a finding of significant public benefit pursuant to Section 6586.5(a) of the Code, and to approve the financing of the Improvements by a CFD governed by the Board of Directors of the Authority in order to satisfy the Guidelines for Issuance of the Authority and the requirements of the Code, and so that the financing of the Improvements can be completed; and WHEREAS, the County will have no obligation whatsoever with respect to the formation or administration.of the CFD, or the issuance or repayment of the Bonds. NOW, THEREFORE, BE IT RESOLVED by the Board of Supervisors of the County of Contra Costa as follows: Section 1. Findings and Determinations. The Board of Supervisors hereby finds that significant public benefits will arise from the financing of the Improvements with the proceeds of the Bonds, in accordance with Section 6586 of the Code. Section 2. Approval of Financing. The Board of Supervisors hereby approves the establishment of a CFD by the Board of Directors of the Authority, the issuance of the Bonds by the Authority for the CFD, and the financing of the Improvements with the proceeds of the Bonds. Section 3. Acknowledgement of Land Use Approvals. The County hereby certifies to the Authority that any land use approvals necessary for development in the CFD to occur and the installation of any CFD financed facilities, have been granted (other than design approvals, building permits and other similar approvals, as to which no certification is hereby made), subject to and as more fully described in the Memorandum of Understanding Between Contra Costa County, the City of San Raman, Shapell Industries and Windemere Ranch Partners Relating to Development of Dougherty Valley, dated October 15, 1997. Section 4. Effective Date. This Resolution shall take effect from and after the date of its passage and adoption. PASSED, APPROVED AND ADOPTED, by the Berard of Supervisors of the County of Contra Costa at a meeting held on the 18th day of May , 2004. f Cha' , Board of Supervisors of the County of Contra Costa ATTEST: May 18, 2004 County Administrator and Clerk of the Board of Supervisors f Deputy Clerk 01009.22:37418 4/30/04 -2- r RESOLUTION NO.2004-67 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAMON APPROVING JOINT COMMUNITY FACILITIES AGREEMENT RELATING TO THE FINANCING OF PUBLIC IMPROVEMENTS BY THE ABAG FINANCE AUTHORITY FOR NONPROFIT CORPORATIONS COMMUNITY FACILITIES DISTRICT NO.2004-2 (WINDEMERE RANCH) WHEREAS, the Board of Directors of the ABAG Finance Authority for Nonprofit Corporations (the "Authority") is undertaking proceedings to form the ABAG Finance Authority for Nonprofit Corporations Community Facilities District No. 2004-2 (Windemere Ranch) (the "CFD") pursuant to the Mello-Roos Community Facilities Act of 1982, as amended(the "Act"); and WHEREAS, the Authority intends to issue bands of the Authority for the CFD (the "Bonds") in order to finance, among other improvements, the costs of certain roadway, park and related public improvements (the "Improvements") that are expected, upon annexation of the land on which the Improvements are constructed, to be owned by the City of San Ramon (the "City,"} as such Improvements are described in the proceedings to form the CFD; and WHEREAS, in order to enable the CFD to finance the Improvements, Section 53316.2 of the California Government Code requires that the City and the Authority enter into a joint community facilities agreement prior to the formation of the CFD with respect to the Improvements to be owned or operated by the City; and WHEREAS, a form of joint community facilities agreement by and between the City and the Authority relating to the Improvements to be owned or operated by the City (the "Joint Community Facilities Agreement") has been filed with the City Clerk; and WHEREAS, the City Council. with the assistance of City staff, has reviewed the Joint Community Facilities Agreement, and the City Council now desires to approve the Joint Community Facilities Agreement and direct its execution and delivery. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of San Ramon as follows: Section 1. Approval of Joint Community Facilities Agreement. The City Council hereby approves the Joint Community Facilities Agreement in the form on file with the City Clerk, and hereby authorizes and directs the Mayer to execute and deliver the Joint Community Facilities Agreement in such form together with any changes therein deemed advisable by the City Manager upon consultation with the City Attorney, the approval of such changes to be conclusively evidenced by the execution and delivery by the Mayor of the Joint Community Facilities Agreement. The City Council hereby declares that the Joint Community Facilities Agreement will be beneficial to the residents residing and to reside within the boundaries of the area in which the Improvements are being constructed, which area is expected to be annexed to the City. Section 2. Official Actions. The Mayor, City Manager and City Clerk, and all other officers of the City, are hereby authorized and directed to take all actions and do all things necessary or desirable hereunder to implement the Joint Community Facilities Agreement, including but not limited to the execution and delivery of any and all agreements, certificates, documents and other instruments which r they, or any of them, deem necessary or desirable and not inconsistent with the purposes of this Resolution and the Joint Community Facilities Agreement. Section 3. This Resolution shall take effect upon its adoption. PASSED,APPROVED AND ADOPTED on this 11"day of May,2004 by the following vote. APES: Councilmembers Hudson, Livingstone, Perkins and Rowley NOES: ABSENT: Mayor Wilson ABSTAIN: H. Abram Wilson,Mayor ATTEST: Judy Macfaflane, City Clerk that this is a -111,;rme and accurate COPY Of 'ernturion adopted by the City trJtlrtt of the City of San Ranwx gilts+Ck,* u -2-