HomeMy WebLinkAbout03-76 - Resolutions RESOLUTION NO. 03-76
A RESOLUTION OF THE PLANNING COMMISSION OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, RECOMMENDING ADOPTION OF
AN ORDINANCE AUTHORIZING THE CITY OF RANCHO CUCAMONGATO
AMEND THE EXISTING DEVELOPMENT AGREEMENT NO. 01-02, TO
PROVIDE ASSURANCE THAT MAJOR DEPARTMENT STORE PARCELS
WITHIN THE VICTORIA GARDENS REGIONAL CENTER WILL NOT
EXPERIENCE INCREASED MELLO ROOS TAXES ASSOCIATED WITH
COMMUNITY.FACILITIES DISTRICT 2003-01
A. Recitals.
1. Victoria Gardens-C, L.L.C. requested an amendment to Development Agreement No.
01-02, as described in the title of this Resolution. Hereinafter in this Resolution, the subject
Development Agreement Amendment is referred to as "the application."
2. On May 28, 2003, the Planning Commission of the City of Rancho Cucamonga conducted
a duly noticed public hearing on the application and concluded said hearing on that date.
3. On February 20, 2002, the City Council entered into Development Agreement No. 01-02
with Victoria Gardens-C, L.L.C. for the Victoria Gardens Regional Center and has amended said
Development Agreement once.
4. The subject property of the Development Agreement Amendment is legally described
herein.
5. A true and correct copy of the proposed Development Agreement Amendment is attached
as Exhibit "A" to the attached Draft Ordinance.
6. All legal prerequisites prior to the adoption of this Resolution have occurred.
B. Resolution.
NOW, THEREFORE, it is hereby found, determined, and resolved by the Planning Commission
of the City of Rancho Cucamonga as follows:
1. This Commission hereby specifically finds that all of the facts set forth in the Recitals,
Part A, of this Resolution are true and correct.
2. This Commission hereby specifically finds that the Development Agreement Amendment
conforms to the General Plan of the City of Rancho Cucamonga.
3. The City Council adopted a Project Environmental Impact Report(EIR)as environmental
clearance for the various agreements and entitlements associated with the Victoria Gardens
Regional Center including Development Agreement DA01-02. The subject Development Agreement
Amendment is consistent with the scope of work and type of development analyzed by the Project
EIR. Furthermore, there have been no changes in the circumstances surrounding the project nor
has new information surfaced to indicate that the project would have substantial environmental
impacts beyond those discussed in the EIR. Therefore, no subsequent or supplemental EIR is
necessary based upon the findings as follows:
PLANNING COMMISSION RESOLUTION NO. 03-76
SECOND AMENDMENT DA 01-02 —VICTORIA GARDENS-C, L.L.C.
May 28, 2003
Page 2
a. The amendment is within the scope of that evaluated by the Project Environmental
Impact Report for the Victoria Gardens Master Plan, Development Agreement,Tentative Parcel Map,
and Development Disposition Agreement as certified by the City Council on February 20,2002(State
Clearinghouse No. 20010301028); and
b. There have been no substantial changes made either to the project or the
circumstances surrounding the project since the City Council certified the Project Environmental
Impact Report on February 20, 2002; and
C. No new information of substantial importance has arisen since the Project EIR was
certified to indicate that the project will have significant effects not discussed in the El or that the
mitigation measures imposed are infeasible.
4. This Commission hereby recommends approval of the Development Agreement
Amendment as presented in the Staff Report and in the attached Ordinance subject to each and
every condition set forth below.
Planning Division:
1) All conditions associated with Development Agreement No. DA 01-02 shall
be in full force and affect.
5. The Secretary to this Commission shall certify to the adoption of this Resolution.
APPROVED AND ADOPTED THIS 28TH DAY OF MAY 2003.
PLANNING COMMISSION OF THE CITY OF RANCHO CUCAMONGA
e
BY:
La cNiel, Chairman
ATTEST: �'N
B S
I, Brad Buller, Secretary of the Planning Commission of the City of Rancho Cucamonga, do hereby
certify that the foregoing Resolution was duly and regularly introduced, passed, and adopted by the
Planning Commission of the City of Rancho Cucamonga, at a regular meeting of the Planning
Commission held on the 28th day of May 2003, by the following vote-to-wit:
AYES: COMMISSIONERS: FLETCHER, MACIAS, McNIEL, McPHAIL, STEWART
NOES: COMMISSIONERS: NONE
ABSENT: COMMISSIONERS: NONE
ORDINANCE NO.
AN ORDINANCE OF THE CITY COUNCIL OF RANCHO CUCAMONGA
CALIFORNIA, APPROVING THE SECOND AMENDMENT TO
DEVELOPMENT AGREEMENT NO. 01-02, A DEVELOPMENT
AGREEMENT BETWEEN THE CITY OF RANCHO CUCAMONGA AND
VICTORIA GARDENS-C, L.L.C. IN ORDER TO PROVIDE ASSURANCE
THAT MAJOR DEPARTMENT STORE PARCELS WITHIN THE
VICTORIA GARDENS REGIONAL CENTER WILL NOT EXPERIENCE
INCREASED MELLO ROOS TAXES ASSOCIATED WITH COMMUNITY
FACILITIES DISTRICT 2003-01
A. Recitals.
1. California Government Code Section 65864 now provides, in pertinent part, as
follows:
.The Legislature finds and declares that:
a) The lack of certainty in the approval of development projects can result in a
waste of resources, escalate the cost of housing and other developments to the consumer, and
discourage investment in and commitment to comprehensive planning, which would make
maximum efficient utilization of resources at the least economic cost to the public.
b) Assurance to the applicant for a development project that upon approval of the
project, the applicant may proceed with the project in accordance with existing policies, rules .
and regulations, and subject to conditions of approval, will strengthen the public planning
process, encourage private participation in comprehensive planning, and reduce the economic
costs of development.
2. California Government Code Section 65865 provides, in pertinent part, as follows:
"Any city...may enter into a Development Agreement with any person having a legal
or equitable interest in real property for the development of such property as provided in this
article..."
3. California Government Code Section 65865.2 provides, in part, as follows:
"A Development Agreement shall specify the duration of the Agreement, the
permitted uses of the property, the density of intensity of use, the maximum height and size of
proposed buildings, and provisions for reservation or dedication of land for public purposes.
The Development Agreement may include conditions, terms, restrictions, and requirements for
subsequent discretionary actions, provided that such conditions, terms, restrictions, and
requirements for discretionary actions shall not prevent development of the land for the uses
and to the density of intensity of development set forth in the Agreement..."
4. Attached to this Ordinance, Exhibit "A" and incorporated herein by this reference is
the proposed amendment to Development Agreement 01-02, concerning that property generally
bounded by future Church Street to the north, Foothill Boulevard to the south, the 1-15 Freeway
to the east, and the future Day Creek Boulevard to the west as legally described in the current
CITY COUNCIL ORDINANCE
DA 01-02, AMENDMENT NO. 2 -VICTORIA GARDENS-C, L.L.C.
June 4, 2003
Page 2
Development Agreement. Hereinafter in this Ordinance and the Development Agreement
amendment attached hereto as Exhibit "A" is referred to as the "Amendment."
5. On May 28, 2003, the Planning Commission of the City of Rancho Cucamonga held
a duly noticed public hearing concerning the Development Agreement amendment and
concluded said hearing on that date and recommended approval through adoption of Resolution
No. 03-76.
6. On June 4, 2003, the City Council of the City of Rancho Cucamonga conducted a
duly noticed public hearing concerning the Development Agreement amendment.
7. All legal prerequisites prior to the adoption of this Ordinance have occurred.
B. Ordinance.
NOW, THEREFORE, the City Council of the City of Rancho Cucamonga does hereby find,
determine, and ordain as follows:
SECTION 1: This Council hereby specifically finds that all of the facts set forth in the
Recitals, Part A, of this Ordinance are true and correct.
SECTION 2: On February 20, 2002, this Council reviewed an Environmental Impact
Report and certified said report as legally sufficient for the Victoria Gardens Regional Center
project.
SECTION 3: It is expressly found that the public necessity, general welfare, and good
zoning practice require the approval of the Development Agreement amendment.
SECTION 4: This Council hereby approves the amendment to Development Agreement
01-02, attached hereto as Exhibit "A."
SECTION 5: The Mayor shall sign this Ordinance and the City Clerk shall cause the same
to be published within 15 days after its passage at least once in the Inland Valley Daily Bulletin,
a newspaper of general circulation published in the City of Ontario, California, and circulated in
the City of Rancho Cucamonga, California.
-- DRAFT --
SECOND AMENDMENT TO DEVELOPMENT AGREEMENT
BY AND. BETWEEN THE CITY OF RANCHO CUCAMONGA
AND VICTORIA GARDENS-C, L.L.C.
THIS SECOND AMENDMENT TO DEVELOPMENT AGREEMENT
( "Second Amendment" ) is made and entered into as of this _th
day of , 2003 , by and between the CITY OF RANCHO CUCAMONGA,
a municipal corporation and general law city ("City" ) , and
VICTORIA GARDENS-C, L.L.C. , a California limited liability
company ( "Owner" ) . For a valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, City and Owner
hereby amend that certain Development Agreement between them
dated February 20 , 2002 , as previously amended by that certain
First Amendment to Development Agreement dated , 2003
(as amended, the "Amended Development Agreement" ) , to add a new
Section III .B. 5 reading as follows :
"Special Covenant of the City. In order to
facilitate the development of the `major' retail
stores within the Project, the City hereby covenants
and agrees as follows on behalf of itself and on
behalf of the Community Facilities District No. 2003-
01 of the City of Rancho Cucamonga (the `CFD' ) :
(1) except with the unanimous written
consent of the affected landowners, neither the City
nor the CFD will initiate proceedings under Section
53331 of the California Government Code or other
similar applicable provision to alter the rate or
method of apportionment of the special tax affecting
any property designated as Privately Owned Specific
Retail Property under that certain Notice of Special
122313.3 1
Tax Lien dated as of March 6, 2003 and recorded in the
Official Records of San Bernardino County, California
on March 6, 2003 as Document No. 2003-0148262 , a copy
of which is attached hereto as Exhibit `A2 ' (the
`RMA' ) ; and
(2) except with the unanimous written
consent of the affected landowners, the CFD will
abandon, pursuant to the provisions of Section 53338
of the California Government Code, any proceedings
initiated pursuant to the provisions of Sections
53332-53338 of the California Government Code which
would result in an alteration of the rate or method of
apportionment of the special tax affecting any
property designated as Privately Owned Specific Retail
Property under the RMA. "
Exhibit "A2" attached to this Second Amendment is
hereby added and incorporated into the Amended Development
Agreement as Exhibit "A2" thereto.
In order to comply with Section 65868 . 5 of the
Government Code, the parties do hereby direct the City Clerk to
record a copy of this Second Amendment against the Property
described in Exhibit "Al" attached to this Second Amendment with
the County Recorder of San Bernardino County within ten (10)
days after the Effective Date .
Except for the addition of Section III .B. S and
Exhibit "A2" as set forth above, the Amended Development
Agreement remains unmodified and in full force and effect .
IN WITNESS WHEREOF, Owner and City have executed
this Agreement as of the date first hereinabove written.
122313.3 2
"City"
CITY OF RANCHO CUCAMONGA,
a municipal corporation
By:
Mayor
ATTEST:
City Clerk
Approved as to Form:
By:
City Attorney
"Owner"
VICTORIA GARDENS-C, L.L.C. , a
California limited
Liability company
By:
Its :
4�
122313.3 3
STATE OF CALIFORNIA )
) ss.
COUNTY OF )
On 2003 , before me, the undersigned,
a Notary Public in and for said County and State, personally
appeared
personally known to me (or proved to me on the basis of
satisfactory evidence) to be the person (s) whose name (s) is/are
subscribed to the within instrument and acknowledged to me that
he/she/they executed the same in his/her/their authorized
capacity(ies) , and that by his/her/their signature (s) on the
instrument the person (s) , or the entity upon behalf of which the
person (s) acted, executed the within instrument .
WITNESS my hand and official seal .
(i) Notary Public
STATE OF CALIFORNIA )
ss .
COUNTY OF )
On 2003 , before me, the undersigned,
a Notary Public in and for said County and State, personally
appeared
personally known to me (or proved to me on the basis of
satisfactory evidence) to be the person (s) whose name (s) is/are
subscribed to the within instrument and acknowledged to me that
he/she/they executed the same in his/her/their authorized
capacity(ies) , and that by his/her/their signature (s) on the
instrument the person (s) , or the entity upon behalf of which the
person (s) acted, executed the within instrument .
WITNESS my hand and official seal .
Notary Public
122313.3 4
EXHIBIT "Al"
LEGAL DESCRIPTION OF PROPERTY
APPROXIMATELY 165 ACRES IN THE CITY OF RANCHO CUCAMONGA, COUNTY
OF SAN BERNARDINO, GENERALLY BOUNDED BY DAY CREEK BOULEVARD,
FOOTHILL BOULEVARD, I-15 FREEWAY, AND CHURCH STREET
[FULL LEGAL DESCRIPTION TO BE PROVIDED PRIOR TO RECORDATION]
122313.3 1
CITY OF RANCHO CUCAMONGA
COMMUNITY FACILITIES DISTRICT
No. 2003-01
IMPROVEMENT AREA NOS. 1 AND 2
February 6, 2003
COMMUNITY FACILITIES DISTRICT REPORT
MELLO-Roos COMMUNITY FACILITIES ACT OF 1982
CITY OF RANCHO CUCAMONGA
COMMUNITY FACILITIES DISTRICT NO. 2003-01
February 6, 2003
Prepared for Prepared by
CITY OF RANCHO CUCAMONGA DAVID TAUSSIG& ASSOCIATES, INC.
10500 Civic Center Drive 1301 Dove Street, Suite 600
P.O. Box 807 Newport Beach, California 92660
Rancho Cucamonga, California 91729 (949) 955-1500
TABLE OF CONTENTS
Section Page
I. INTRODUCTION ............................................................................................................... 1
II. PROJECT DESCRIPTION................................................................................................... 2
III. DESCRIPTION AND ESTIMATED COST OF PROPOSED FACILITIES.................................. 3
A. Description of Proposed Public Improvements .............................................. 3
B. Estimated Cost of Proposed Bond Financed Public Improvements ............. 4
IV. BONDED INDEBTEDNESS AND INCIDENTAL EXPENSES. ................................................. 5
A. Projected Bond Sales ......................................................................................... 5
B. Incidental Bond Issuance Expenses to be Included in the Proposed
BondedIndebtedness.............................:........................................................... 5
C. Incidental Expenses to be Included in the Annual Levy of Special Taxes ... 5
V. RATE AND METHOD OYAPPORTIONMENT OF THE SPECIAL TAX....................................6
A. Explanation for Special Tax Apportionment.................................................. 6
B. Assigned and Maximum Special Tax Rates..................................................... 7
C. Backup Special Tax........................................................................................... 8
D. Accuracy of Information................................................................................... 8
VI. BOUNDARIES OF COMMUNITY FACILITIES DISTRICT.................................................... 9
VII. GENERAL TERMS AND CONDITIONS...............................................................................10
A. Substitution Facilities........................................................................................10
B. Review/Appeals..................................................................................................10
C. Prepayment of Special Tax ...............................................................................10
EXHIBITS
Exhibit A-1 Rate and Method of Apportionment Improvement Area 1
Exhibit A-2 Rate and Method of Apportionment Improvement Area 2
Exhibit B-1 Assigned Special Taxes for Developed Property in Improvement Area 1
Exhibit B-2 Assigned Special Taxes for Developed Property in Improvement Area 2
Exhibit C-1 Maximum Special Taxes for Undeveloped Property in Improvement Area 1
Exhibit C-2 Maximum Special Taxes for Undeveloped Property in Improvement Area 2
Exhibit D Boundary Maps
I. INTRODUCTION
WHEREAS, the City Council of the City of Rancho Cucamonga (hereinafter referred to as the
"Council") did, pursuant to the 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 (hereinafter referred to as the "Act'), and specifically Section 53321.5 thereof,
expressly order the filing of a written "Report" with the legislative body of the proposed
community facilities district. This community facilities district being City of Rancho
Cucamonga Community Facilities District No. 2003-01 shall hereinafter be referred to as:
"CFD No. 2003-01"; and,
WHEREAS, A Resolution of Intention of the City Council of the City of Rancho Cucamonga to
Establish City of Rancho Cucamonga Community Facilities District No. 2003-01 and to
Authorize the Levy of a Special Tax within City of Rancho Cucamonga Community Facilities
District No. 2003-01 (the 'Resolution of Intention"), adopted by the Council on December 18,
2002, did direct that the Report generally contain the following:
1. A brief description of the public facilities by type which will be required to adequately
meet the needs of CFD No. 2003-01; and
2. An estimate of the fair and reasonable cost of financing the public facilities, including
incidental expenses and including the costs of the proposed bond financing and all other
related costs.as provided in Section 53345.3 of the Act.
NOW, THEREFORE, I, Larry Temple, Administrative Services Director, the authorized
representative of the City of Rancho Cucamonga and the appointed responsible officer directed
to prepare the Report or cause the Report to be prepared pursuant to the provisions of the Act, do
hereby submit this Report.
City of Rancho Cucamonga Page 1
CFD No. 2003-01 February 6, 2003
II. PROJECT DESCRIPTION
The purpose of CFD No. 2003-01 is to finance the construction of certain public facilities which
benefit the property proposed for development within the boundaries of the City of Rancho
Cucamonga (hereinafter referred to as the "City") and to pay incidental expenses incurred in
connection therewith. Public facilities that may be financed by CFD No. 2003-01 are described
in Section III below. CFD No. 2003-01 is divided into two improvement areas, which are
subsequently subdivided into zones.
Improvement Area 1 consists of three zones, amounting to approximately 146.78 gross acres. Of
this acreage, approximately 18.54 acres in Zone 1 are expected to be developed into uses subject
to a Mello-Roos special tax levy. At buildout, it is currently expected that Zone I will contain
approximately 411 residential dwelling units. In Zone 2, approximately 26.81 acres are expected
to be developed into commercial uses subject to a Mello-Roos special tax levy. Finally, Zone 3
will have approximately 13.37 acres developed into commercial uses subject to a Mello-Roos
special tax levy.
Improvement Area 2 consists of two zones, amounting to approximately 82.08 gross acres. Of
this acreage, approximately 31.66 acres in Zone 1 and 17.19 acres in Zone 2 are expected to be
.developed into commercial uses subject to a Mello-Roos special tax levy.
City of Rancho Cucamonga Page 2
CFD No. 2003-01 February 6, 2003
III. DESCRIPTION AND ESTIMATED COST OF PROPOSED FACILITIES
A. Description of Proposed Public Improvements
A community facilities district may provide for the purchase, construction, expansion,
improvement, or rehabilitation of any real or tangible property, including public facilities
and infrastructure improvements, with an estimated useful life of five.(5) years or longer,
which is necessary to meet increased demands placed upon local agencies as a result of
development or rehabilitation occurring within the community facilities district. In
addition, a community facilities district may pay in full all amounts necessary to eliminate
any fixed special assessment liens or to pay, repay, or defease any obligation to pay for any
indebtedness secured by any tax, fee, charge, or assessment levied within the area of the
community facilities district.
The public facilities shown below are proposed to be financed by CFD No. 2003-01. The
cost of the public facilities shall include the attributable costs of engineering, design,
planning, inspection, management and coordination, together with the expenses related to
the issuance and sale of any special tax bonds, including underwriters' discount, appraisals,
reserve find, capitalized interest, bond counsel, special tax consultant, bond and official
statement printing and all other expenses incidental thereto. The public facilities shall be
constructed pursuant to the plans and specifications approved by the City and the officials
thereof, including the City Engineer.
Facilities in Connection with Improvement Area Nos. 1 and 2
Victoria Gardens Lane(and vicinity) Improvements
Street Improvements
Storm Drain Improvements
Domestic Water Improvements
Landscape Improvements
Dry Utilities Improvements
Right-of-Way Acquisition
Foothill Boulevard (and vicinity) Improvements
Street Improvements
Storm Drain Improvements
Sanitary Sewer Improvements
Domestic Water Improvements
Landscape Improvements
Dry Utilities Improvements
North Parkway Sidewalk
Right-of-Way Acquisition
Other Improvements Serving Properties Located within CFD No. 2003-01
Dry Utilities Improvements
City of Rancho Cucamonga Page 3
CFD No. 2003-01 February 6, 2003
Facilities in Connection with Improvement Area No. 1 Only
Domestic Water Improvements
Sewer Improvements
Civic Center/Cultural Center Community Facilities
School Improvements
The preceding facilities are all facilities which the legislative body creating CFD No. 2003-
01 is authorized, pursuant to an agreement meeting the requirements of Section 53316.2 of
the Act or otherwise, to own, construct, or finance, and which are required to adequately
meet the needs of CFD No. 2003-01. Because the actual facilities necessary to serve
development within CFD No. 2003-01 may differ from those currently anticipated, CFD
No. 2003-01 reserves the right to modify the actual facilities proposed herein to the extent
CFD No. 2003-01 deems necessary, in its sole discretion to meet those needs. The Special
Taxes' required to pay for the construction, acquisition, or financing of said facilities will
be apportioned as described in the Rate and Method of Apportionment of the Special Tax
for CFD No. 2003-01.
B. Estimated Cost of Proposed Bond Financed Public Improvements
CFD No. 2003-01 is expected to issue two (2) Bond series to finance the purchase,
construction, expansion, improvement, or rehabilitation of the authorized facilities. The
total amount of construction proceeds to be generated from the Bonds is projected to be
approximately$11.7 million in Improvement Area No. 1, and $2.3 million in Improvement
Area No. 2. These amounts are estimates and subject to change.
'Please note that all capitalized terms used herein, unless otherwise indicated, shall have the meanings defined
in the Rate and Method of Apportionment.
City of Rancho Cucamonga Page 4
CFD No. 2003-01 February 6, 2003
I
IV. BONDED INDEBTEDNESS AND INCIDENTAL EXPENSES
A. Projected Bond Sales
The maximum authorized bonded indebtedness for CFD No. 2003-01 is $16,000,000 in
Improvement Area No. 1 and $4,000,000 in Improvement Area No. 2.
B. Incidental Bond Issuance Expenses to be Included in the Proposed
Bonded Indebtedness
Pursuant to Section 53345.3 of the Act, bonded indebtedness may include all costs and
estimated costs incidental to, or connected with, the accomplishment of the purpose for
which the proposed debt is to be incurred, including, but not limited to, the costs of legal,
fiscal, and financial consultant fees; bond and other reserve funds; underwriter's discount;
interest on any bonds of the district due and payable within two years of the issuance of the
bonds; election costs; and all costs of issuance of the bonds, including, but not limited to,
fees for bond counsel, disclosure counsel, and printing costs. For the bonds proposed to be
issued for Improvement Area I and Improvement Area 2 by CFD No. 2003-01, capitalized
interest is currently estimated at approximately 9.92 percent, the reserve fund at 10.0
percent, all other incidental bond issuance expenses at 3.21 percent of the face amount of
the bonds. Actual bond issue assumptions will vary from the above estimates.
C. Incidental Expenses to be Included in the Annual Lew of Special Taxes
Pursuant to Section 53340 of the Act, the proceeds of any special tax may only be used to
pay, in whole or part, the cost of providing public facilities, services and incidental
expenses. As defined by the Act, incidental expenses include, but are not limited to, the
cost of planning and designing public facilities to be financed pursuant to the Act,
including the cost of environmental evaluations of those facilities; the costs associated with
the creation of the district, issuance of bonds, determination of the amount of taxes,
collection of taxes, payment of taxes, or costs otherwise incurred in order to carry out the
authorized purposes of the district; and any other expenses incidental to the construction,
completion, and inspection of the authorized work. While the actual cost of administering
CFD No. 2003-01 may vary, it is anticipated that the amount of special taxes which can be
collected will be sufficient to fund at least $50,000 in annual administrative expenses.
City of Rancho Cucamonga Page 5
CFD No. 2003-01 February 6, 2003
V. RATE AND METHOD OF APPORTIONMENT OF THE SPECIAL TAX
All of the property located within CFD No. 2003-01, unless exempted by law or by the Rate and
Method of Apportionment for each Improvement Area, shall be taxed for the purpose of
providing necessary facilities to serve CFD No. 2003-01. Pursuant to Section 53325.3 of the
Act, the tax imposed "is a special tax and not a special assessment, and there is no requirement
that the tax be apportioned on the basis of benefit to any property." The Special Tax "may be
based on benefit received by parcels of real property, the cost of making facilities or authorized
services available to each parcel, or other reasonable basis as determined by the legislative body,"
although the Special Tax may not be apportioned on an ad valorem basis pursuant to Article
XIIIA of the California Constitution.
As shown in Exhibits A-1 and A-2, the adopted Rate and Method of Apportionment for each
Improvement Area provides information sufficient to allow each property owner within CFD No.
2003-01 to estimate the maximum annual Special Tax he or she will be required to pay. Sections
A through C, below, provide additional information on the Rate and Method of Apportionment
of the Special Tax for each Improvement Area of CFD No. 2003-01.
A. Explanation for Special Tax Apportionment
When a community facilities district is formed, a Special Tax may be levied on each parcel
of taxable property within the CFD to pay for the construction, acquisition and
rehabilitation of public facilities, to pay for authorized services or to repay bonded
indebtedness or other related expenses incurred by the CFD. This Special Tax must be
apportioned in a reasonable manner; however, the tax may not be apportioned on an ad
valorem basis.
When more than one type of land use is present within a community facilities district,
several criteria may be considered when apportioning the Special Tax. Generally, criteria
based on building square footage, lot size, density and/or land use are selected, and
categories based on such criteria are established to differentiate between parcels of
property. These categories are a direct result of the developer's projected product.mix, and
are reflective of the proposed land use types within that community facilities district.
Additionally, geographic location of property may be considered and different tax rate
zones or areas defined. Specific Special Tax levels are assigned to each land use class
within each tax rate zone, with all parcels within a land use class for each tax rate zone,
assigned the same Special Tax rate.
The Act does not require that Special Taxes be apportioned to individual parcels based on
benefit received. However, in order to insure fairness and equity, benefit principles have
been incorporated in establishing the Special Tax rates for CFD No. 2003-01.
The major assumption inherent in the Special Tax rates set forth in each Rate and Method
of Apportionment is that the level of benefit received from the proposed public facilities is
City of Rancho Cucamonga Page 6
CFD No. 2003-01 February 6, 2003
a function of land use and/or product type. This assumption is borne out through an
examination of commonly accepted statistical measures for public facility usage.
For example, in measuring average weekday vehicle trip-ends, the Institute of
Transportation Engineer's Trip Generation manual identifies land use as the primary
determinant of trip-end magnitude. Larger buildings typically generate a greater number of
trip-ends than do smaller buildings, and therefore, will tend to receive more benefit from
road grading, road landscaping and road improvements.
Drainage and flood control requirements generally vary with the amount of impervious
ground cover per parcel. It follows that larger lots have more impervious ground cover
which will create more drainage flows than that of smaller lots.
Another example is sewer treatment costs, which are based on plant capacity to treat
biochemical oxygen demand (BOD), suspended solids (SS), and the flow rate, all of which
vary based on land use. Other variables for water and sewer requirements include storage
and fire flow requirements, as well as the number of bathrooms and fixture units, which
tend to vary with the size of the lot and the size of the building.
Therefore, separate Special Tax rates have been established for each Zone within an
Improvement Area, based on the anticipated residential and non-residential land use classes
within each Zone. In addition, in order to insure fairness, the Special Tax rates are
uniformly applied within each Zone, and are,based on the acreage of a parcel. As a result,
the Special Tax for a parcel of Residential Property or Non-Residential Property in both
Improvement Area Nos. I and 2 will be based on (i) the specific Zone in which the parcel is
located, and (ii) the acreage of the parcel.
Based on the types of public facilities that are proposed for CFD No. 2003-01 and the
factors described above, the Special Taxes assigned to specific land uses are generally
proportionate to the relative benefits received by them, and, accordingly, the Special Taxes
in CFD No. 2003-01 can be considered to be fair and reasonable.
B. Assigned and Maximum Special Tax Rates
Exhibits B-1 and B-2 list the Assigned Special Taxes that may be levied against Developed
Property in each Zone within each Improvement Area of CFD No. 2003-01. Exhibits C-1
and C-2 list the Maximum Special Taxes that may be levied against Undeveloped Property
in each Zone within each Improvement Area of CFD No. 2003-01. Maximum Special Tax
rates cannot exceed the Assigned Special Tax rates shown in Exhibits B-1 and B-2, except
when the Backup Special Tax is used as discussed in Section C below.
The Council will annually determine the actual amount of the Special Tax levy in each
Zone of each Improvement Area, subject to the methodology and Maximum Special Taxes
set forth in each Rate and Method of Apportionment. The Council will levy a Special Tax
to the extent necessary to meet the Special Tax requirement for each Zone.
City of Rancho Cucamonga Page 7
CFD No. 2003-01 February b, 2003
C. Backup Special Tax
Should the taxable acreage within any Improvement Area of CFD No. 2003-01 fall
significantly below the level projected in the current development plans, pursuant to the
Rate and Method of Apportionment for each Improvement Area, it may be necessary to
levy the Maximum Special Tax using the Backup Special Tax pursuant to Section C of
each Rate and Method of Apportionment.
If use of the Backup Special Tax should become necessary, Maximum Special Tax rates for
some parcels classified as Developed Property will be increased above the Assigned
Special Tax rates shown in Exhibit B until the Special Tax Requirement is met. However,
under no circumstances will the Special Tax on an Assessor's Parcel of Developed Property
be increased to a level that exceeds the Maximum Special Tax (the greater of the applicable
Backup Special Tax or the applicable Assigned Special Tax), as identified in Exhibits CA
and C-2.
D. Accuracy of Information
In order to establish the Special Taxes for each Improvement Area of CFD No. 2003-01 as
set forth.in each Rate and Method of Apportionment, David Taussig and Associates, Inc.
has relied on information including, but not limited to absorption, land-use types, building
square footage, and net taxable acreage which were provided to David Taussig and
Associates, Inc., by others. David Taussig and Associates, Inc. has not independently
verified such data and disclaims responsibility for the impact of inaccurate data provided by
others,if any, on each Rate and Method of Apportionment for CFD No. 2003-01, including
the inability to meet the financial obligations of CFD No. 2003-01.
City of Rancho Cucamonga Page 8
CFD No. 2003-01 February 6, 2003
VI. BOUNDARIES OF COMMUNITY FACILITIES DISTRICT
The boundaries of CFD No. 2003-01 include all land on which the Special Taxes maybe levied.
A map of the area included within each Improvement Area of CFD No. 2003-01 is provided as
Exhibit D.
City of Rancho Cucamonga Page 9
CFD No. 2003-01 February 6, 2003
VII. GENERAL TERMS AND CONDITIONS
A. Substitution Facilities
The description of the public facilities, as set forth herein, are general in their nature. The
final nature, location, and costs of improvements and facilities will be determined upon the
preparation of final plans and specifications. The final plans may show substitutes, in lieu
of modifications to the proposed work in order to accomplish the work of improvement,
and any such substitution shall not be a change or modification in the proceedings as long
as the facilities provide a service substantially similar to that as set forth in this Report.
B. Review/Appeals
As fully described in Section F of each Rate and Method of Apportionment, any landowner
who believes that the amount of the Special Tax is in error may file a notice with CFD No.
2003-01 appealing the levy of the Special Tax. As appropriate, a representative of CFD
No. 2003-01 will then review the appeal and, if necessary, meet with the appellant. If the
findings of the representative verify that the amount of the Special Tax should be modified
or changed, then, as appropriate, the Special Tax levy may be corrected by the
Review/Appeal Committee or its designee.
C. Prepayment of Special Tax
The Special Tax applicable to an Assessor's Parcel of Developed Property may be prepaid
according to the prepayment provisions in each Rate and Method of Apportionment.
K:\Ciienm2\RaMhoCocamooga\V icmiiaGanirns\CFD_RPT3.doc
City of Rancho Cucamonga Page 10
CFD No. 2003-01 February 6, 2003
EXHIBIT A-1
RATE AND METHOD OF APPORTIONMENT
IMPROVEMENT AREA 1
RATE AND METHOD OF APPORTIONMENT FOR
COMMUNITY FACILITIES DISTRICT NO. 2003-01
OF THE CITY OF RANCHO CUCAMONGA
IMPROVEMENT AREA NO. 1
A Special Tax as hereinafter defined shall be levied on all Assessor's Parcels in Community
Facilities District No. 2003-01 (Improvement Area No. 1) ("CFD No. 2003-01 (IA No. 1)") and
collected each Fiscal Year commencing in Fiscal Year 2003-04, in an amount determined by the
Council through the application of the appropriate Special Tax within each Zone for "Developed
Property" and "Undeveloped Property" as described below. All of the real property in CFD No.
2003-01 (IA No. 1), 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. DEFINITIONS
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 map, parcel map, condominium plan, or other map or plan
recorded with the County. The square footage of an Assessor's Parcel is equal to the
Acreage of such parcel multiplied by 43,560.
"Act" means the Mello-Roos Community Facilities Act of 1982,as amended,being Chapter
2.5, Division 2 of Title 5 of the Government Code of the State of California.
"Administrative Expenses" means the following actual or reasonably estimated costs
directly related to the administration of CFD No.2003-01 (IA No. 1):the costs of computing
the Special Taxes and preparing the annual Special Tax collection schedules(whetherbythe
City, a designee thereof or both); the costs of collecting the Special Taxes (whether by the
County or otherwise);the costs of remitting the Special Taxes to the Trustee;the costs of the
Trustee (including its legal counsel) in the discharge of the duties required of it under the
Indenture; the costs to the City, CFD No. 2003-01 (IA No. 1) or any designee of either
thereof of complying with arbitrage rebate requirements; the costs to the City, CFD No.
2003-01 (IA No. 1)or any designee of either thereof of complying with City,CFD No.2003-
01 (IA No. 1) or obligated persons disclosure requirements; the costs associated with
preparing Special Tax disclosure statements and responding to public inquiries regarding the
Special Taxes;the costs of the City,of CFD No. 2003-01 (IA No. 1)or any designee of either
thereof related to an appeal of the Special Tax;and the City's annual administration fees and
third party expenses. Administrative Expenses shall also include amounts estimated or
advanced by the City or CFD No. 2003-01 (IA No. 1) for any other administrative purposes
of CFD No. 2003-01 (IA No. 1), including attorney's fees and other costs related to
commencing and pursuing to completion any foreclosure of delinquent Special Taxes.
City of Rancho Cucamonga March 10, 2003
"Administrative Special Tax Requirement" means, for any Fiscal Year, that amount
estimated to be required to: (i)payperiodic costs on the CFD No.2003-01 (IA No. 1)Bonds
other than regularly scheduled debt service, including but not limited to,credit enhancement
and rebate payments on the CFD No. 2003-01 (IA No. 1)Bonds as described in the Indenture
and due in the calendar year beginning in said Fiscal Year; and (ii) pay Administrative
Expenses.
"Assessor's Parcel" means a lot or parcel shown in an Assessor's Parcel Map with an
assigned Assessor's parcel number.
"Assessor's Parcel Map" means an official map of the Assessor of the County designating
parcels by Assessor's Parcel number.
"Assigned Special Tax" means the Special Tax applicable to each Assessor's Parcel of
Developed Property, as determined in accordance with Section C below.
"Authorized Facilities" means those improvements, as listed on Exhibit "A" to the
Resolution of Formation.
"Backup Special Tax" means the Special Tax applicable to each Assessor's Parcel of
Developed Property, as determined in accordance with Section C below.
"CFD Administrator" means an official of the City, or designee thereof, responsible for
determining the Special Tax Requirement for each Zone and providing for the levy and
collection of the Special Taxes.
"CFD No. 2003-01" means City of Rancho Cucamonga Community Facilities District No.
2003-01 (Victoria Gardens).
"CFD No. 2003-01 (IA No. 1)" means Improvement Area No. 1 of CFD No. 2003-01, as
identified on the boundary map for CFD No. 2003-01.
"CFD No.2003-01 (IA No. 1)Bonds" means any bonds or other debt(as defined in Section
53317(d)of the Act),whether in one or more series,issued by CFD No.2003-01 and secured
solely by Special Taxes levied on property within the boundaries of CFD No. 2003-01 (IA
No. 1) under the Act.
"City" means the City of Rancho Cucamonga.
"Council" means the City Council of the City of Rancho Cucamonga, acting as the
legislative body of CFD No. 2003-01 (IA No. 1).
"County" means the County of San Bernardino.
"Disposition and Development Agreement" means the Disposition and Development
Agreement by and between the Rancho Cucamonga Redevelopment Agency and Victoria
Gardens-C, LLC dated February 20, 2002.
City of Rancho Cucamonga March 10, 2003
CFD No. 2003-01 (IA No. 1) Page 2
"Developed Propertymeans, for each Fiscal Year, all Taxable Property which (i) was
within a Final Map that was recorded prior to January 1 of the previous Fiscal Year, and(ii)
for which a building permit for new construction, other than the construction of a garage,
parking lot,parking structure or street,was issued after January 1,2002 but prior to January 1
of the previous Fiscal Year.
"Final Map" means a final map, lot line adjustment, or parcel map, or portion thereof,
approved by the City pursuant to the Subdivision Map Act (California Government Code
Section 66410 et seq.)and recorded with the County Recorder that creates individual lots for
which building permits may be issued. The term "Final Map" shall not include any
Assessor's Parcel Map or subdivision map or portion thereof,that does not create individual
lots for which a building permit may be issued, including Assessor's Parcels that are
designated as remainder parcels.
"Fiscal Year" means the period starting July 1 and ending on the following June 30.
"Indenture" means the indenture, fiscal agent agreement, resolution or other instrument
pursuant to which CFD No. 2003-01 (lA No. 1) Bonds are issued, as modified, amended
and/or supplemented from time to time.
"Maximum Special Tax"means the maximum Special Tax,determined in accordance with
Section C below, that can be levied in any Fiscal Year on any Assessor's Parcel.
"Outstanding Zone 1 Bonds" means(a)the product of(i)the original principal amount of
the CFD No.2003-01 (IA No. 1)Bonds minus the principal amount of the CFD No.2003-01
(IA No. 1)Bonds that have been paid at maturity, or been redeemed or defeased other than
from prepayments of Special Taxes; and(ii)the Zone 1 Allocation, minus (b)the principal
amount of the CFD No. 2003-01 (IA No. 1)Bonds that have been redeemed or defeased as a
result of the prepayment of Special Taxes by the owners of Assessor's Parcels located in
Zone 1.
"Outstanding Zone 2 Bonds" means(a)the product of(i)the original principal amount of
the CFD No.2003-01 (1A No. 1)Bonds minus the principal amount of the CFD No.2003-01
(IA No. 1)Bonds that have been paid at maturity, or been redeemed or defeased other than
from prepayments of Special Taxes; and (ii)the Zone 2 Allocation,minus (b) the principal
amount of the CFD No. 2003-01 (1A No. 1)Bonds that have been redeemed or defeased as a
result of the prepayment of Special Taxes by the owners of Assessor's Parcels located in
Zone 2 or a refund from the Etiwanda School District pursuant to that certain Joint
Community Facilities Agreement dated as of February 19, 2002 between the City and the
Etiwanda School District,or from the Chaffey Joint Union High School District,pursuant to
that certain Joint Community Facilities Agreement dated as of February 19, 2002 between
the City and the Chaffey Joint Union High School District.
"Outstanding Zone 3 Bonds" means(a)the product of(i)the original principal amount of
the CFD No. 2003-01 (lA No. 1)Bonds minus the principal amount of the CFD No.2003-01
(IA No. 1)Bonds that have been paid at maturity, or been redeemed or defeased other than
City of Rancho Cucamonga March 10,2003
from prepayments of Special Taxes; and(ii) the Zone 3 Allocation,minus (b) the principal
amount of the CFD No. 2003-01 (IA No. 1)Bonds that have been redeemed or defeased as a
result of the prepayment of Special Taxes by the owners of Assessor's Parcels located in
Zone 3.
"Privately Owned Exempt Parking Property" means the land area consisting of up to
4.25 Acres in Zone 2 to be utilized for a garage, parking lot or parking structure as
geographically identified in Attachment A to this Rate and Method of Apportionment, and
specifically defined in Attachment B.
"Privately Owned Specific Retail Property" means one or more Assessor's Parcels of
Developed Property in Zone 2 for which a building permit has been issued for uses that are
consistent with the Major Department Store land use category in the Disposition and
Development Agreement, as determined by the CFD Administrator.
"Proportionately" means for Developed Property in a particular Zone that the ratio of the
actual Special Tax levy in such Zone to the Assigned Special Tax for such Zone is equal for
all Assessor's Parcels of Developed Property within such Zone,or where the Backup Special
Tax is being levied in a particular Zone that the ratio of the actual Special Tax levy in such
Zone to the Maximum Special Tax for such Zone is equal for all Assessor's Parcels upon
which a Backup Special Tax is being levied within such Zone. For Undeveloped Property in
a particular Zone, "Proportionately" means that the ratio of the actual Special Tax levy per
Acre in such Zone to the Maximum Special Tax per Acre for such Zone is equal for all
Assessor's Parcels of Undeveloped Property within such Zone.
"Public Property"means any property within the boundaries of CFD No.2003-01 (IA No.
1)that is used for rights-of-way or any other purpose and is owned by or irrevocably offered
for dedication to the federal government,the State, the County,the City or any other public
agency,provided however that any property leased by a public agency to a private entity and
subject to taxation under Section 53340.1 of the Act shall be taxed and classified in
accordance with its use.
"Residential Property" means all Assessor's Parcels of Developed Property for which a
building permit has been issued for purposes ofconstructing one or more residential dwelling
units.
"Resolution of Formation" means the Resolution of Formation for CFD No. 2003-01 (IA
No. 1).
"Special Tax" means the special tax to be levied in each Fiscal Year on each Assessor's
Parcel of Developed Property and Undeveloped Property to fund the Zone 1 Special Tax
Requirement,the Zone 2 Special Tax Requirement,or the Zone 3 Special Tax Requirement.
"State" means the State of California.
City of Rancho Cucamonga March 10,2003
CFD No. 2003-01 (IA No. 1) Page 4
"Taxable Property" means all of the Assessor's Parcels within the boundaries of CFD No.
2003-01 (IA No. 1)which are not exempt from the Special Tax pursuant to law or Section E
below.
"Trustee" means the trustee or fiscal agent under the Indenture.
"Undeveloped Property" means,for each Fiscal Year,all Taxable Property not classified as
Developed Property.
"Zone" means Zone 1, Zone 2, or Zone 3, as applicable.
"Zone 1" means all Assessor's Parcels located within the boundaries of Zone 1 as delineated
in Attachment A to this Rate and Method of Apportionment.
"Zone 1 Allocation" means the percentage of CFD No. 2003-01 (IA No. 1)Bonds allocated
to Zone 1 based on Zone 1's share of the cost of the Authorized Facilities to be financed
from the proceeds of such bond issue(s). The Zone 1 Allocation is 6.72%.
"Zone 1 Delinquency Amount" means, for any Fiscal Year, the amount required to (i)
replenish any reserve funds for CFD No. 2003-01 (IA No. 1)Bonds in an amount equal to the
amount withdrawn therefrom as a result of delinquent Zone 1 Special Taxes, as reasonably
determined by the CFD Administrator, and (ii) pay for reasonably anticipated delinquent
Zone 1 Special Taxes based on the delinquency rate for Special Taxes levied in Zone 1 in the
previous Fiscal Year.
"Zone 1 Special Tax Requirement" means, for any Fiscal Year,the sum of(i)the Zone 1
Allocation times the Administrative Special Tax Requirement;and(ii)the amount required
to (a) pay regularly scheduled debt service on all Outstanding Zone 1 Bonds due in the
calendar year beginning in said Fiscal Year, (b) accumulate funds to pay directly for the
construction of Authorized Facilities, and(c)pay the Zone 1 Delinquency Amount, if any;
(iii) less a credit for funds available to reduce the annual Special Tax levy within Zone 1,as
determined by the CFD Administrator pursuant to the Indenture.
"Zone 2" means all Assessor's Parcels located within the boundaries of Zone 2 as delineated
in Attachment A to this Rate and Method of Apportionment.
"Zone 2 Allocation" means the percentage of CFD No.2003-01 (IA No. 1)Bonds allocated
to Zone 2 based on Zone 2's share of the cost of the Authorized Facilities to be financed
from the proceeds of such bond issue(s). The Zone 2 Allocation is 81.74%.
"Zone 2 Delinquency Amount" means, for any Fiscal Year, the amount required to (i)
replenish anyreserve funds for CFD No. 2003-01 (IA No. 1)Bonds in an amount equal to the
amount withdrawn therefrom as a result of delinquent Zone 2 Special Taxes, as reasonably
determined by the CFD Administrator, and (ii) pay for reasonably anticipated delinquent
Zone 2 Special Taxes based on the delinquency rate for Special Taxes levied in Zone 2 in the
previous Fiscal Year.
City of Rancho Cucamonga March 10, 2003
"Zone 2 Special Tax Requirement" means, for any Fiscal Year,the sum of(i)the Zone 2
Allocation times the Administrative Special Tax Requirement; and(ii)the amount required
to (a) pay regularly scheduled debt service on all Outstanding Zone 2 Bonds due in the
calendar year beginning in said Fiscal Year, (b) accumulate funds to pay directly for the
construction of Authorized Facilities, and (c) pay the Zone 2 Delinquency Amount, if any;
(iii) less a credit for funds available to reduce the annual Special Tax levy within Zone 2, as
determined by the CFD Administrator pursuant to the Indenture. For the purposes of this
definition,all amounts held in the funds and accounts under the Indenture which are intended
to be used to pay debt service on CFD No. 2003-01 (IA No. 1)Bonds issued and outstanding,
and which are derived from refunds from the Etiwanda School District pursuant to that
certain Joint Community Facilities Agreement dated as of February 19, 2002 between the
City and the Etiwanda School District,or from the Chaffey Joint Union High School District,
pursuant to that certain Joint Community Facilities Agreement dated as ofFebruary 19,2002
between the City and the Chaffey Joint Union High School District shall be considered
amounts available to reduce the annual Special Tax levy within Zone 2.
"Zone 3" means all Assessor's Parcels located within the boundaries of Zone 3 as delineated
in Attachment A to this Rate and Method of Apportionment.
"Zone 3 Allocation" means the percentage of CFD No.2003-01 (IA No. 1)Bonds allocated
to Zone 3 based on Zone 3's share of the cost of the Authorized Facilities to be financed
from the proceeds of such bond issue(s). The Zone 3 Allocation is 11.54%.
"Zone 3 Delinquency Amount" means, for any Fiscal Year, the amount required to (i)
replenish any reserve funds for CFD No.2003-01 (IA No. 1)Bonds in an amount equal to the
amount withdrawn therefrom as a result of delinquent Zone 3 Special Taxes, as reasonably
determined by the CFD Administrator, and (ii) pay for reasonably anticipated delinquent
Zone 3 Special Taxes based on the delinquency rate for Special Taxes levied in Zone 3 in the
previous Fiscal Year.
"Zone 3 Special Tax Requirement" means, for any Fiscal Year,the sum of(i)the Zone 3
Allocation times the Administrative Special Tax Requirement; and(ii)the amount required
to (a) pay regularly scheduled debt service on all Outstanding Zone 3 Bonds due in the
calendar year beginning in said Fiscal Year, (b) accumulate funds to pay directly for the
construction of Authorized Facilities, and (c)pay the Zone 3 Delinquency Amount, if any;
(iii) less a credit for funds available to reduce the annual Special Tax levy within Zone 3, as
determined by the CFD Administrator pursuant to the Indenture.
B. ASSIGNMENT TO LAND USE CATEGORIES
Each Fiscal Year, all Taxable Property within Zone 1,Zone 2, and Zone 3 of CFD No.2003-
01 (IA No. 1) shall be classified as Developed Property or Undeveloped Property, and shall
be subject to Special Taxes in accordance with the rate and method of apportionment
determined pursuant to Sections C and D below.
City of Rancho Cucamonga March 10, 2003
CFD No. 2003-01(1A Na. 1) Page 6
C. MAXIMUM SPECIAL TAX RATE
1. ZONE 1
a. Zone 1 Developed Property
(i). Maximum Special Tax
The Maximum Special Tax for each Assessor's Parcel in Zone 1
classified as Developed Property shall be the greater of(i)the amount
derived by application of the Assigned Special Tax for Zone 1 or(ii)
the amount derived by application of the Backup Special Tax for
Zone 1.
(ii). Assigned Special Tax
The Assigned Special Tax for each Assessor's Parcel of Developed
Property in Zone 1 of CFD No. 2003-01 (IA No. l)shall equal$4,318
per Acre for Fiscal Year 2003-04, and shall increase thereafter,
commencing on July 1, 2004 and on July 1 of each Fiscal Year
thereafter, by an amount equal to two percent (2%) of the Assigned
Special Tax for the previous Fiscal Year.
(iii). BacLmp Special Tax
The Backup Special Tax for each Assessor's Parcel of Developed
Property in Zone 1 of CFD No.2003-01 (IA No. 1)shall equal$4,798
per Acre for Fiscal Year 2003-04, and shall increase thereafter,
commencing on July 1, 2004 and on July 1 of each Fiscal Year
thereafter, by an amount equal to two percent (2%) of the Backup
Special Tax for the previous Fiscal Year.
b. Zone 1 Undeveloped Property
The Maximum Special Tax for Undeveloped Property in Zone 1 of CFD No.
2003-01 (IA No. 1) shall be $4,798 per Acre for Fiscal Year 2003-04, and
shall increase thereafter, commencing on July 1, 2004 and on July 1 of each
Fiscal Year thereafter, by an amount equal to two percent (2%) of the
Maximum Special Tax for the previous Fiscal Year.
City of Rancho Cucamonga March 10, 2003
2. ZONE 2
a. Zone 2 Developed Property
(i). Maximum Special Tax
The Maximum Special Tax for each Assessor's Parcel in Zone 2
classified as Developed Property shall be the greater of(i)the amount
derived by application of the Assigned Special Tax for Zone 2 or(ii)
the amount derived by application of the Backup Special Tax for
Zone 2.
(ii). Assigned Special Tax
The Assigned Special Tax for each Assessor's Parcel of Developed
Property in Zone 2 of CFD No. 2003-01 (IA No. 1) shall equal
$36,294 per Acre for Fiscal Year 2003-04, and shall increase
thereafter, commencing on July 1, 2004 and on July 1 of each Fiscal
Year thereafter, by an amount equal to two percent (2%) of the
Assigned Special Tax for the previous Fiscal Year.
(iii). Backup Special Tax
The Backup Special Tax for each Assessor's Parcel of Developed
Property in Zone 2 of CFD No. 2003-01 (IA No. 1) shall equal
$40,327 per Acre for Fiscal Year 2003-04, and shall increase
thereafter, commencing on July 1, 2004 and on July 1 of each Fiscal
Year thereafter, by an amount equal to two percent (2%) of the
Backup Special Tax for the previous Fiscal Year.
b. Zone 2 Undeveloped Property
The Maximum Special Tax for Undeveloped Property in Zone 2 of CFD No.
2003-01 (IA No. 1) shall be $12,817 per Acre for Fiscal Year 2003-04, and
shall increase thereafter, commencing on July 1, 2004 and on July 1 of each
Fiscal Year thereafter, by an amount equal to two percent (2%) of the
Maximum Special Tax for the previous Fiscal Year.
3. ZONE 3
a. Zone 3 Developed Property
(i). Maximum Special Tax
The Maximum Special Tax for each Assessor's Parcel in Zone 3
classified as Developed Property shall be the greater of(i)the amount
City of Rancho Cucamonga March 10,2003
CFD No. 2003-01(IA No. 1) Page 8
derived by application of the Assigned Special Tax for Zone 3 or(ii)
the amount derived by application of the Backup Special Tax for
Zone 3.
(ii). Assigned Special Tax
The Assigned Special Tax for each Assessor's Parcel of Developed
Property in Zone 3 of CFD No. 2003-01 (IA No. 1) shall equal
$10,272 per Acre for Fiscal Year 2003-04, and shall increase
thereafter, commencing on July 1, 2004 and on July 1 of each Fiscal
Year thereafter, by an amount equal to two percent (2%) of the
Assigned Special Tax for the previous Fiscal Year.
(iii). Backup Special Tax
The Backup Special Tax for each Assessor's Parcel of Developed
Property in Zone 3 of CFD No. 2003-01 (IA No. 1) shall equal
$11,413 per Acre for Fiscal Year 2003-04, and shall increase
thereafter, commencing on July 1, 2004 and on July 1 of each Fiscal
Year thereafter, by an amount equal to two percent (2%) of the
Backup Special Tax for the previous Fiscal Year.
b. Zone 3 Undeveloped Property
The Maximum Special Tax for Undeveloped Property in Zone 3 of CFD No.
2003-01 (IA No. 1) shall be $11,413 per Acre for Fiscal Year 2003-04, and
shall increase thereafter, commencing on July 1, 2004 and on July 1 of each
Fiscal Year thereafter, by an amount equal to two percent (2%) of the
Maximum Special Tax for the previous Fiscal Year.
D. METHOD OF APPORTIONMENT OF THE SPECIAL TAX
1. ZONE 1
Commencing with Fiscal Year 2003-04 and for each following Fiscal Year, the
Council shall determine the Zone 1 Special Tax Requirement and levy the Special
Tax in Zone 1 until the amount of Special Taxes levied in Zone 1 is equal to the Zone
1 Special Tax Requirement. The Special Tax shall be levied in Zone 1 each Fiscal .
Year as follows:
First: The Special Tax shall be levied on each Assessor's Parcel of Developed
Property in Zone 1 in an amount equal to 100% of the Assigned Special Tax for
Developed Property;
Second: If additional monies are needed to satisfy the Zone 1 Special Tax
Requirement after the first step has been completed, the Special Tax shall be levied
City of Rancho Cucamonga March 10,2003
Proportionately on each Assessor's Parcel of Undeveloped Property in Zone 1 at up to
100% of the Maximum Special Tax for Undeveloped Property;
Third: If additional monies are needed to satisfy the Zone 1 Special Tax
Requirement after the first two steps have been completed, then the levy of the
Special Tax on each Assessor's Parcel of Developed Property in Zone 1 whose
Maximum Special Tax is equal to the Backup Special Tax shall be increased
Proportionately from the Assigned Special Tax up to the Maximum Special Tax for
each such Assessor's Parcel.
Notwithstanding the above,the Council may in any Fiscal Year levy Proportionately
less than 100%of the Assigned Special Tax in step one(above)when the Council no
longer must levy a Special Tax in Zone 1 pursuant to steps two and three above, and
(i) all authorized CFD No. 2003-01 (IA No. 1) Bonds have already been issued, or
(ii)the Council has covenanted that it will not issue any additional CFD No.2003-01
(IA No. 1)Bonds(except refunding bonds) to be supported by Special Taxes levied
under this Rate and Method of Apportionment.
Further notwithstanding the above, under no circumstances will the Special Tax
levied against any Assessor's Parcel of Residential Property for which an occupancy
permit for private residential use has been issued be increased by more than ten
percent as a consequence of delinquency or default by the owner of any other
Assessor's Parcel within Zone 1, except for those Residential Properties whose
owners are also delinquent or in default on their Special Tax payments for one or
more other properties within Zone 1.
2. ZONE 2
Commencing with Fiscal Year 2003-04 and for each following Fiscal Year, the
Council shall determine the Zone 2 Special Tax Requirement and levy the Special
Tax in Zone 2 until the amount of Special Taxes levied in Zone 2 is equal to the Zone
2 Special Tax Requirement. The Special Tax shall be levied in Zone 2 each Fiscal
Year as follows:
First: The Special Tax shall be levied on each Assessor's Parcel of Developed
Property in Zone 2 in an amount equal to 100% of the Assigned Special Tax for
Developed Property;
Second: If additional monies are needed to satisfy the Zone 2 Special Tax
Requirement after the first step has been completed, the Special Tax shall be levied
Proportionately on each Assessor's Parcel of Undeveloped Property in Zone 2 at up to
100% of the Maximum Special Tax for Undeveloped Property;
Third: If additional monies are needed to satisfy the Zone 2 Special Tax
Requirement after the first two steps have been completed, then the levy of the
Special Tax on each Assessor's Parcel of Developed Property in Zone 2 whose
Maximum Special Tax is equal to the Backup Special Tax shall be increased
City of Rancho Cucamonga March 10, 2003
CFD No. 2003-01 (IA No. 1) Page 10
Proportionately from the Assigned Special Tax up to the Maximum Special Tax for
each such Assessor's Parcel.
Notwithstanding the above,the Council may in any Fiscal Year levy Proportionately
less than100%of the Assigned Special Tax in step one(above)when the Council no
longer must levy a Special Tax in Zone 2 pursuant to steps two and three above,and
(i) all authorized CFD No. 2003-01 (IA No. 1) Bonds have already been issued, or
(ii)the Council has covenanted that it will not issue any additional CFD No.2003-01
(IA No. 1)Bonds(except refunding bonds)to be supported by Special Taxes levied
under this Rate and Method of Apportionment.
3. ZONE 3
Commencing with Fiscal Year 2003-04 and for each following Fiscal Year, the
Council shall determine the Zone 3 Special Tax Requirement and levy the Special
Tax in Zone 3 until the amount of Special Taxes levied in Zone 3 is equal to the Zone
3 Special Tax Requirement.The Special Tax shall be levied in Zone 3 each Fiscal
Year as follows:
First: The Special Tax shall be levied on each Assessor's Parcel of Developed
Property in Zone 3 in an amount equal to 100% of the Assigned Special Tax for
Developed Property;
Second: If additional monies are needed to satisfy the Zone 3 Special Tax
Requirement after the first step has been completed, the Special Tax shall be levied
Proportionately on each Assessor's Parcel ofUndeveloped Property in Zone 3 at up to
100% of the Maximum Special Tax for Undeveloped Property;
Third: If additional monies are needed to satisfy the Zone 3 Special Tax
Requirement after the first two steps have been completed, then the levy of the
Special Tax on each Assessor's Parcel of Developed Property in Zone 3 whose
Maximum Special Tax is equal to the Backup Special Tax shall be increased
Proportionately from the Assigned Special Tax up to the Maximum Special Tax for
each such Assessor's Parcel.
Notwithstanding the above,the Council may in any Fiscal Year levy Proportionately
less than 100%of the Assigned Special Tax in step one(above)when the Council no
longer must levy a Special Tax in Zone 3 pursuant to steps two and three above,and
(i) all authorized CFD No. 2003-01 (IA No. 1) Bonds have already been issued, or
(ii)the Council has covenanted that it will not issue any additional CFD No.2003-01
(IA No. 1)Bonds(except refunding bonds) to be supported by Special Taxes levied
under this Rate and Method of Apportionment.
City of Rancho Cucamonga March 10,2003
E. EXEMPTIONS
1. ZONE 1
No Special Tax shall be levied on Public Property in Zone 1.
2. ZONE 2
No Special Tax shall be levied on Public Property in Zone 2. In addition,no Special
Tax shall be levied on Privately Owned Exempt Parking Property in Zone 2.
Furthermore,no Special Tax shall be levied on up to 10.56 Acres of Privately Owned
Specific Retail Property in Zone 2. Tax-exempt status will be assigned by the CFD
Administrator in the chronological order in which property in Zone 2 becomes
Privately Owned Specific Retail Property.
If the total number of Acres of Privately Owned Specific Retail Property exceeds the
amount stated above, then the Acres exceeding such total shall be taxed at the
applicable rates for Developed Property for Zone 2 as set forth in Section C above
and to the extent set forth in Section D above.
3. ZONE 3
No Special Tax shall be levied on Public Property in Zone 3.
F. REVIEW/APPEAL COMMITTEE
Any taxpayer may file a written appeal of the Special Tax on his/her property with the CFD
Administrator, provided that the appellant is current in his/her payments of Special Taxes.
During the pendency of an appeal, all Special Taxes previously levied must be paid on or
before the payment date established when the levy was made. The appeal must specify the
reasons why the appellant claims the Special Tax is in error. The CFD Administrator shall
review the appeal, meet with the appellant if the CFD Administrator deems necessary, and
advise the appellant of its determination. If the CFD Administrator agrees with the appellant,
the amount of the Special Tax shall be appropriately modified.
The Council may interpret this Rate and Method of Apportionment of Special Tax for
purposes of clarifying any ambiguity and make determinations relative to the annual
administration of the Special Tax and any landowner or resident appeals. Any decision of
the Council shall be final and binding as to all persons.
G. MANNER OF COLLECTION
The Special Tax shall be collected in the same manner and at the same time as ordinary ad
valorem property taxes; provided, however, that CFD No. 2003-01 (IA No. 1)may directly
bill the Special Tax, may collect Special Taxes at a different time or in a different manner if
City of Rancho Cucamonga Mardi 10,2003
CFD No. 1003-01 (IA No. 1) Page 12
necessary to meet its financial obligations, and may covenant to foreclose and may actually
foreclose on delinquent Assessor's Parcels as permitted by the Act.
H. PREPAYMENT OF SPECIAL TAX
1. Payment in Full
Only an Assessor's Parcel ofDeveloped Property,or Undeveloped Property for which
a building permit has been issued, may be prepaid. The Special Tax obligation
applicable to an Assessor's Parcel in CFD No. 2003-01 (IA No. 1) may only be
prepaid after all authorized CFD No. 2003-01 (IA No. 1)Bonds have already been
issued, or after the Council has covenanted that it will not issue any additional CFD
No. 2003-01 (IA No. 1)Bonds(except refunding bonds)to be supported by Special
Taxes levied under this Rate and Method of Apportionment. The obligation of the
Assessor's Parcel to pay any Special Tax may be permanently satisfied as described
herein, provided that a prepayment may be made with respect to a particular
Assessor's Parcel only if there are no delinquent Special Taxes with respect to such
Assessor's Parcel at the time of prepayment. An owner of an Assessor's Parcel
intending to prepay the Special Tax obligation shall provide the CFD Administrator
with written notice of intent to prepay. Within 30 days of receipt of such written
notice,the CFD Administrator shall notify such owner of the prepayment amount of
such Assessor's Parcel. Prepayment must be made not less than 45 days prior to any
redemption date for the CFD No.2003-01 (IA No. 1)Bonds to be redeemed with the
proceeds of such prepaid Special Taxes.
The Prepayment Amount(defined below) shall be calculated as summarized below
(capitalized terms as defined below):
Bond Redemption Amount
plus Redemption Premium
plus Defeasance Amount
plus Administrative Fees and Expenses
less Reserve Fund Credit
less Capitalized Interest Credit
Total: equals Prepayment Amount
As of the proposed date of prepayment, the Prepayment Amount (defined below)
shall be calculated as follows:
Parauaph No.:
1. Confirm that no Special Tax delinquencies apply to such Assessor's Parcel.
2. For Assessor's Parcels of Developed Property, compute the Maximum
Special Tax for the Assessor's Parcel to be prepaid. For Assessor's Parcels
of Undeveloped Property for which building permits have already been
issued, compute the Maximum Special Tax for the Assessor's Parcel to be
City of Rancho Cucamonga March 10,2003
-- 11
prepaid as though it were already designated as Developed Property, based
upon the building permit which has been issued for that Assessor's Parcel.
3. Divide the Maximum Special Tax computed pursuant to paragraph 2 by the
estimated Maximum Special Taxes for the entire Zone in which the
Assessor's Parcel is located based on the Developed Property Special Taxes
which could be charged in the current Fiscal Year on all expected
development in such Zone, excluding any Assessor's Parcels in such Zone
which have been prepaid; and
4. (a) For Assessor's Parcels in Zone 1, multiply the quotient computed
pursuant to paragraph 3 by the Outstanding Zone 1 Bonds to compute the
amount of Outstanding Zone 1 Bonds to be retired and prepaid; or
(b) For Assessor's Parcels in Zone 2, multiply the quotient computed
pursuant to paragraph 3 by the Outstanding Zone 2 Bonds to compute the
amount of Outstanding Zone 2 Bonds to be retired and prepaid: or
(c) For Assessor's Parcels in Zone 3, multiply the quotient computed
pursuant to paragraph 3 by the Outstanding Zone 3 Bonds to compute the
amount of Outstanding Zone 3 Bonds to be retired and prepaid(in either(a),
(b), or(c) above, the "Bond Redemption Amount").
5. Multiply the Bond Redemption Amount for the appropriate Zone computed
pursuant to paragraph 4 by the applicable redemption premium (e.g., the
redemption price — 100%), if any, on the Outstanding Zone 1, Zone 2, or
Zone 3 Bonds to be redeemed(the "Redemption Premium").
6. Compute the amount needed to pay interest on the Bond Redemption Amount
from the first bond interest and/or principal payment date following the
current Fiscal Year until the earliest redemption date for the Outstanding
Zone 1, Zone 2, or Zone 3 Bonds, as applicable.
7. Determine the Special Taxes levied on the Assessor's Parcel in the current
Fiscal Year which have not yet been paid.
8. Compute the amount the CFD Administrator reasonably expects to derive
from the reinvestment of the Prepayment Amount less the Administrative
Fees and Expenses from the date of prepayment until the redemption date for
the Outstanding Zone 1, Zone 2, or Zone 3 Bonds, as applicable, to be
redeemed with the prepayment.
9. Add the amounts computed pursuant to paragraphs 6 and 7 and subtract the
amount computed pursuant to paragraph 8.
10. Compute the net present value of the amount computed pursuant to
paragraph 9,using as a discount rate the rate of return reasonably assumed by
the CFD Administrator in paragraph 8 (the "Defeasance Amount").
City of Rancho Cucamonga March 10, 2003
CFD No. 2003-01 (IA No. 1) Page 14
11. The administrative fees and expenses of CFD No. 2003-01 (IA No. 1)are as
calculated by the CFD Administrator and include the costs of computation of
the prepayment, the costs to invest the prepayment proceeds, the costs of
redeeming CFD No. 2003-01 (IA No. 1) Bonds, and the costs of recording
any notices to evidence the prepayment and the redemption (the
"Administrative Fees and Expenses").
12. The reserve fund credit(the"Reserve Fund Credit")shall equal the lesser of.
(a) the expected reduction in the reserve requirement (as defined in the
Indenture), if any, associated with the redemption of Outstanding Zone 1,
Zone 2, or Zone 3 Bonds as a result of the prepayment, or (b) the amount
derived by subtracting the new reserve requirement (as defined in the
Indenture) in effect after the redemption of Outstanding Zone 1, Zone 2, or
Zone 3 Bonds, as applicable, as a result of the prepayment from the balance
in the reserve fund on the prepayment date,but in no event shall such amount
be less than zero. No Reserve Fund Credit shall be granted if the amount
then on deposit in the reserve fund for the Outstanding Zone 1, Zone 2, or
Zone 3 Bonds, as applicable, is below 100% of the reserve requirement (as
defined in the Indenture).
13. If any capitalized interest for the Outstanding Zone 1, Zone 2, or Zone 3
Bonds,as applicable,will not have been expended as of the fust bond interest
and/or principal payment date following the current Fiscal Year,a capitalized
interest credit shall be calculated by multiplying the quotient computed
pursuant to paragraph 3 by the expected balance in the capitalized interest
fund after such first interest and/or principal payment (the "Capitalized
Interest Credit").
14. The Special Tax prepayment is equal to the sum of the amounts computed
pursuant to paragraphs 4, 5, 10,and 11, less the amounts computed pursuant
to paragraphs 12 and 13 (the "Prepayment Amount").
From the Prepayment Amount, the amounts computed pursuant to paragraphs 4, 5,
10, 12 and 13 shall be deposited into the appropriate fund as established under the
Indenture and be used to redeem Outstanding Zone 1, Zone 2, or Zone 3 Bonds, as
applicable, or make debt service payments. The amount computed pursuant to
paragraph 11 shall be retained by CFD No. 2003-01 (IA No. 1).
The Prepayment Amount may be sufficient to redeem other than a$5,000 increment
of CFD No.2003-01 (IA No. 1)Bonds. In such cases,the increment above$5,000 or
integral multiple thereof will be retained in the appropriate fund established under the
Indenture to be used with the next prepayment of CFD No.2003-01 (IA No. 1)Bonds
or to make debt service payments.
Upon confirmation of the payment of the current Fiscal Year's Special Tax levy as
determined under paragraph 7 (above), the CFD Administrator shall remove the
current Fiscal Year's Special Tax levy for such Assessor's Parcel from the County
City of Rancho Cucamonga March 10,2003
tax rolls. With respect to any Assessor's Parcel for which the Special Tax obligation
is prepaid in full in accordance with this Section H.1., the Council shall cause a
suitable notice to be recorded in compliance with the Act,to indicate the prepayment
of Special Taxes and the release of the Special Tax lien on such Assessor's Parcel,
and the obligation of such Assessor's Parcel to pay the Special Tax shall cease.
Notwithstanding the foregoing, no Special Tax prepayment shall be allowed unless
the amount of Maximum Special Taxes that maybe levied within the entire Zone in
which the Assessor's Parcel's Special Tax obligation is prepaid both prior to and
after the proposed prepayment is at least 1.1 times the maximum annual debt service
on all Outstanding Zone 1, Zone 2, and Zone 3 Bonds, as applicable.
2. Prepayment in Part
The Special Tax on an Assessor's Parcel of Developed Property and an Assessor's
Parcel of Undeveloped Property for which a building permit has been issued may be
partially prepaid. The amount of the prepayment shall be calculated as in Section
H.1; except that a partial prepayment shall be calculated according to the following
formula:
PP=PEXF
These terms have the following meaning:
PP = the partial prepayment
PE= the Prepayment Amount calculated according to Section H.1
F= the percentage by which the owner of the Assessor's Parcel(s) is partially
prepaying the Special Tax.
The owner of any Assessor's Parcel who desires such prepayment shall notify the
CFD Administrator of(i)such owner's intent to partially prepay the Special Tax,and
(ii) the percentage by which the Special Tax shall be prepaid, and(iii) the company
or agency that will be acting as the escrow agent, if any. The CFD Administrator
shall provide the owner with a statement of the amount required for the partial
prepayment of the Special Tax for an Assessor's Parcel within thirty(30)days of the
request and may charge a reasonable fee for providing this service.
With respect to any Assessor's Parcel that is partially prepaid, the City shall (i)
distribute the funds remitted to it according to Section H.1, and (ii) indicate in the
records of CFD No. 2003-01 (IA No. 1) that there has been a partial prepayment of
the Special Tax and that a portion of the Assigned Special Tax and Maximum
Special Tax with respect to such Assessor's Parcel, equal to the outstanding
percentage (1.00 - F) of each, respectively, shall continue to be levied on such
Assessor's Parcel pursuant to Section D.
City of Rancho Cucamonga March 10,2003
CFD No. 2003-01 (IA No. 1) Page 16
I. TERM OF SPECIAL TAX
The Special Tax shall be levied for a period not to exceed 50 years commencing with Fiscal
Year 2003-04, provided however that Special Taxes will cease to be levied in an earlier
Fiscal Year if the CFD Administrator has determined (i) that all required interest and
principal payments on the CFD No. 2003-01 (IA No. 1) Bonds have been paid; and (ii) all
Authorized Facilities have been constructed.
Kr IClientsManchoCucamongaIVicforiaGarde=IRMA Vmprow enfArea!_7.doe
Prepared: 3/10/03
City of Rancho Cucamonga March 10,2003
EXHIBIT A-2
RATE AND METHOD OF APPORTIONMENT
IMPROVEMENT AREA 2
PARKING STRUCTURE PARCELS
THOSE CERTAIN PORTIONS OF PARCEL 1 OF PARCEL MAP NO. 7966 IN THE CITY OF RANCHO
CUCAMONGA, COUNTY OF SAN BERNARDINO, STATE OF CALIFORNIA, PER MAP RECORDED IN
BOOK 86 AT PAGES 1 THROUGH 3 INCLUSIVE OF PARCEL MAPS IN THE OFFICE OF THE
RECORDER OF SAID COUNTY, MORE PARTICULARLY DESCRIBED AS FOLLOWS:
PARCEL P1:
COMMENCING AT THE NORTHWEST CORNER OF SAID PARCEL MAP NO. 7966; THENCE ALONG
THE NORTH LINE OF LAST SAID PARCEL MAP, SOUTH 89°55'01" EAST 707.59 FEET; THENCE
LEAVING SAID NORTH LINE, SOUTH 00004'59" WEST 283.20 FEET TO THE POINT OF BEGINNING
OF THE PARCEL TO BE HEREIN DESCRIBED; THENCE CONTINUING ALONG THE SAME
BEARING, SOUTH 00°04'59" WEST 325.20 FEET; THENCE NORTH 89°55'01" WEST 331.99 FEET;
THENCE NORTH 00004'59 EAST 310.20 FEET TO THE BEGINNING OF A TANGENT CURVE
CONCAVE SOUTHEAST, HAVING A RADIUS OF 25.00 FEET; THENCE ALONG SAID TANGENT
CURVE THROUGH A CENTRAL ANGLE OF 36052'12" AN ARC LENGTH OF 16.09 FEET; THENCE
SOUTH 89055'01"EAST 326.99 FEET TO THE POINT OF BEGINNING.
CONTAINING 2.478 ACRES OF LAND, MORE OR LESS.
PARCEL P2:
COMMENCING AT THE NORTHWEST CORNER OF SAID PARCEL MAP NO. 7966; THENCE ALONG
SAID PARCEL MAP, SOUTH 89055'01" EAST 707.59 FEET; THENCE CONTINUING ALONG SAID
NORTH LINE, SOUTH 89055'01" EAST 407.93 FEET; THENCE LEAVING SAID NORTHERLY LINE,
SOUTH 00004'59" WEST 273.20 FEET TO THE POINT OF BEGINNING OF THE PARCEL TO BE
HEREIN DESCRIBED; THENCE CONTINUING ON LAST SAID BEARING, SOUTH 00004'59" WEST
10.00 FEET; THENCE NORTH 89055'01"WEST 10.17 FEET; THENCE SOUTH 00004'59"WEST 324.61
FEET; THENCE SOUTH 89055'01" EAST 236.00 FEET;THENCE NORTH 00004'59" EAST 295.61 FEET
TO THE BEGINNING OF A TANGENT CURVE CONCAVE TO THE SOUTHWEST, HAVING A RADIUS
OF 25.00 FEET; THENCE ALONG SAID TANGENT CURVE THROUGH A CENTRAL ANGLE OF
90000'00" AN ARC LENGTH OF 39.27 FEET; THENCE.NORTH 89055'01" WEST 55.00 FEET TO THE
BEGINNING OF A TANGENT CURVE CONCAVE NORTHEASTERLY HAVING A RADIUS OF 84.57
FEET; THENCE ALONG LAST SAID TANGENT CURVE THROUGH A CENTRAL ANGLE OF 23028'33"
AN ARC LENGTH OF 34.65 FEET TO THE BEGINNING OF A REVERSE CURVE CONCAVE
SOUTHWESTERLY HAVING A RADIUS OF 84.57 FEET; THENCE ALONG SAID CURVE THROUGH A
CENTRAL ANGLE OF 23028'33"AN ARC LENGTH OF 34.65 FEET; THENCE NORTH 89055'01"WEST
78.45 FEET TO THE POINT OF BEGINNING.
CONTAINING 1.771 ACRES OF LAND, MORE OR LESS.
PREPARED UNDER MY DIRECTION
STANLEY C. MORSE, L.S. 3640 DATE
LICENSE EXPIRES 6-30-04
GA466\061LEGALS\PKG-STR.D0C
SHEET 2 OF 2 SHEETS
PARKING STRUCTURE PARCELS
NW CORNER PARCEL MAP NO. 15641 ---Nr
tP P.M.B. 192/93-100
5 26
N 89'55'01" W 2223.15'
07.59' 407.93' 1107.63
O N 1 ^ LO t0 N1 N3cn
_ ^ m 2 N
hI O � tD O bf F7 � F">V bf bN
b NOD NOD Op ON
ZI IO ZO I � ZO� CK2 aD=
N 89'55'01' W 326.99' P.O.B. z
�R=25.00'
L=16.09'
N o to -
b 0) v ti 9 c
p ^ (? M Z'j ONi
w PARCEL P1 upNi CULTURAL ARTS Q PARCEL P2 w
2.478 AC. .N, CENTER PARCEL m 1.771 AC.
b 2 d b b
z d Z
I z
N 8955'01" W 331.99' ----; r— N89'55'01"W 236.00'
t.
AN I
Y C. GPS
ti �U)
V) m z
Exp. 6/30/2004 150 75 0 150
No. 3640
��91F OF' CAQEGRAPHIC SCALE
PREPARED UNDER THE SUPERVISION OF: LEGEND
® INDICATES SUBJECT PARCEL AREA
INDICATES SUBJECT PARCEL LINE
STANLEY C. MORSE L.S. 3640 EXPIRES 673V2-00-4)2004 INDICATES EXISTING PARCEL UNE
1:\46606\MAPPING\PRKSTI-2 11-13-02
SHEET 1 OF 2 SHEETS
PARKING STRUCTURE PARCELS
PARCEL MAP NO. 15641
P.M.B. 192/93-100
5 6 7 11 12
CHURCH STREET
24 25 26
N :8T55'01'W; 2223.15'
16
14 23 PARCELP2
QL.LJ N.A.P.
� SEE SHEET 2
w
O PARCEL P7
m
Y
0 17 Lu 22
� PARCEL MAP 7966
o U P.M.B. 86/1-3
¢}
za ❑
¢ °'15
2m
Ly SSP
0 o: 18 21
a
20
19
FOOTHILL BOULEVARD (ROUTE 66) I
� fi r[
�ANp
s
C.
v ,? �J, 0 600 300 0 600
m �O
Exp. 6/30/2004
* No. 3640 * GRAPHIC SCALE
��9TFOfi CAO���\P
PREPARED UNDER THE SUPERWSION OF: LEGEND
® INDICATES SUBJECT PARCEL AREA
INDICATES SUBJECT PARCEL UNE
STANLEY C. MORSE L.S. 3640 EXPIRES 6 30 2004 INDICATES EXISTING PARCEL LINE
I:\46606\MAPPING\PRKSTI-1 11-13-02
ATTACHMENT B
PRIVATELY OWNED EXEMPT PARKING PROPERTY LISTING
LEGAL DESCRIPTION
CFD 2003.01
IMPROVEMENT AREA NO. 1 -ZONE NO. 3
PORTIONS OF PARCEL MAP NO. 15641 IN THE CITY OF RANCHO CUCAMONGA, COUNTY OF SAN
BERNARDINO, STATE OF CALIFORNIA, PER MAP RECORDED IN BOOK 192 OF PARCEL MAPS AT
PAGES 93 THROUGH 100 INCLUSIVE, IN THE OFFICE OF THE RECORDER OF SAID COUNTY AND
PARCEL MAP NO. 7966 PER MAP RECORDED IN BOOK 86 OF PARCEL MAPS AT PAGES 1
THROUGH 3 IN SAID RECORDER'S OFFICE, LYING. WITHIN THE FOLLOWING DESCRIBED
PARCEL:
BEGINNING AT THE MOST SOUTHEASTERLY CORNER OF SAID PARCEL MAP NO. 15641;.
THENCE ALONG THE SOUTH LINE OF SAID PARCEL MAP NO. 15641, NORTH 89055'01" WEST
807.40 FEET; THENCE LEAVING SAID SOUTH LINE ALONG THE EAST LINE OF DAY CREEK
BOULEVARD AS SHOWN ON SAID PARCEL MAP NO. 15641, NORTH 44°49'38" WEST 84.98 FEET;
THENCE NORTH 0015'45" EAST 642.29 FEET; THENCE LEAVING SAID EAST LINE, SOUTH
23°23'13"EAST 25.11 FEET;THENCE SOUTH 89°55'01"EAST 54.47 FEET;THENCE SOUTH 0004'59"
WEST 103.00 FEET; THENCE SOUTH 89055'01" EAST 623.93 FEET; THENCE SOUTH 0004'58"WEST
22.99 FEET; THENCE SOUTH 85009'09" EAST 104.26 FEET; THENCE NORTH 4050'51" 9.14 FEET;
THENCE NORTH 54049'11" EAST 24.12 FEET; THENCE NORTH 0004'59' EAST 8.61 FEET; THENCE
SOUTH 89055'01" EAST 604.06 FEET; THENCE SOUTH 0004'59" WEST 75.98 FEET TO THE
SOUTHWESTERLY LINE OF SAID PARCEL MAP NO. 15641; THENCE SOUTHWESTERLY ALONG
SAID SOUTHEASTERLY LINE, SOUTH 69030'05" WEST 116.82 FEET TO A TANGENT CURVE
CONCAVE SOUTHEASTERLY HAVING A RADIUS OF 650.00 FEET; THENCE SOUTHWESTERLY
ALONG SAID TANGENT CURVE THROUGH A CENTRAL ANGLE OF 38000'00"AN ARC LENGTH.OF
431.10 FEET; THENCE SOUTH 31030'05"WEST 222.30 FEET TO THE POINT OF BEGINNING.
CONTAINING 14.689 ACRES OF LAND, MORE OR LESS.
PREPARED BY ME OR UNDER MY DIRECTION:
C''L/p GPS
� o
STANLEY C. MORSE, P.L.S. 3640, DATED 12-06-02 Ln
J N m A
LICENSE EXPIRES 6-30-04 * E.p. 6/30/2004
No. 3640
JT9 \Q.
G:Q90\1 LLEGALS\IA1.Z3.DOC lF OF CAO
NORTHERLY ALONG LAST SAID TANGENT CURVE THROUGH A CENTRAL ANGLE OF 90°00'00"
AN ARC LENGTH OF 39.27 FEET; THENCE NORTH 0004'59" EAST 109.70 FEET TO A TANGENT
CURVE CONCAVE SOUTHEASTERLY HAVING A RADIUS OF 213.00 FEET; THENCE NORTHERLY
ALONG LAST SAID TANGENT CURVE THROUGH A CENTRAL ANGLE OF 21043'28" AN ARC
LENGTH OF 80.76 FEET; THENCE NORTH 21°48'29" EAST 11.04 FEET; THENCE NORTH 68011'33"
WEST 35.26 FEET; THENCE NORTH 25004'56" EAST 22.02 FEET TO A POINT IN A NON-TANGENT
CURVE CONCAVE NORTHEASTERLY HAVING A RADIUS OF 945.00 FEET, A RADIAL LINE
THROUGH SAID POINT BEARS NORTH 24°39'26" EAST; THENCE NORTHWESTERLY ALONG LAST
SAID NON-TANGENT CURVE THROUGH A CENTRAL ANGLE OF 8021'01" AN ARC LENGTH OF
137.72 FEET TO A POINT OF CUSP WITH A NON-TANGENT CURVE CONCAVE NORTHEASTERLY
HAVING A RADIUS OF 902.00 FEET, RADIAL LINES THROUGH SAID POINT OF CUSP BEAR
NORTH 30000'27" EAST (945.00-FOOT RADIUS) AND NORTH 32°38'39" EAST (902.00-FOOT
RADIUS), SAID POINT OF CUSP ALSO BEING THE SOUTH LINE OF CHURCH STREET AS SHOWN
ON SAID PARCEL MAP NO. 15641; THENCE SOUTHEASTERLY ALONG LAST SAID NON-TANGENT
CURVE AND ALONG SAID SOUTH LINE OF CHURCH STREET THROUGH A CENTRAL ANGLE OF
13000'40" AN ARC LENGTH OF 204.83 FEET TO THE NORTH LINE OF SAID PARCEL MAP NO.
15641; THENCE LEAVING LAST SAID SOUTH LINE ALONG LAST SAID NORTH LINE, SOUTH
89055'01" EAST 444.05 FEET TO THE POINT OF BEGINNING.
CONTAINING 110.453 ACRES OF.LAND, MORE OR LESS.
PREPARED BY ME OR UNDER MY DIRECTION:
ti �P o
STANLEY C: MORSE, P.L.S. 3640, DATED 12-06-02 <2� N m A
LICENSE EXPIRES 6-30-04 * Exp. 6/30/2004
No. 3640
G129OXMLEGALS LA7-22.DOC 9lF OF CALIF
LEGAL DESCRIPTION
CFD 2003-01
IMPROVEMENT AREA NO. 1 -ZONE NO. 2
PORTIONS OF PARCEL MAP NO. 15641 IN THE CITY OF RANCHO CUCAMONGA, COUNTY OF SAN
BERNARDINO, STATE OF CALIFORNIA, PER MAP RECORDED IN BOOK 192 OF PARCEL MAPS AT
PAGES 93 THROUGH 100 INCLUSIVE, IN THE OFFICE OF THE RECORDER OF SAID COUNTY AND
PARCEL MAP NO. 7966 PER MAP RECORDED IN BOOK 86 OF PARCEL MAPS AT PAGES 1
THROUGH 3 IN SAID RECORDER'S OFFICE AND PARCEL B AS SAID PARCEL B IS DESCRIBED IN
DOCUMENT NO. 19990308589 RECORDED JULY 23, 1999 IN THE OFFICIAL RECORDS OF SAID
COUNTY, LYING WITHIN THE FOLLOWING DESCRIBED PARCEL:
BEGINNING AT THE MOST NORTHEASTERLY CORNER OF SAID PARCEL MAP NO. 7966; THENCE
ALONG THE EAST LINE OF SAID PARCEL MAP NO. 7966, SOUTH 0007'34"WEST 1065.17 FEET TO
THE BEGINNING OF A TANGENT CURVE CONCAVE NORTHWESTERLY HAVING A RADIUS OF
800.00 FEET; THENCE SOUTHEASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF
34025'30" AN ARC LENGTH OF 480.66 FEET; THENCE LEAVING SAID EAST LINE TO THE
PREVIOUS CURVE ALONG THE NORTHERLY AND SOUTHEASTERLY LINES OF SAID PARCEL B,
NORTH 89058'47" WEST 93.23 FEET; THENCE SOUTH 43°51'29" 290.33 FEET TO A TANGENT
CURVE CONCAVE NORTHWESTERLY HAVING A RADIUS OF 1800.00 FEET; THENCE
SOUTHWESTERLY ALONG LAST SAID TANGENT CURVE THROUGH A CENTRAL ANGLE OF
13058'01" AN ARC LENGTH OF 438.78 FEET; THENCE SOUTH 57049'30" WEST 10.37 FEET TO THE
BEGINNING OF A TANGENT CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 2000.00 FEET;
THENCE LEAVING SAID SOUTHEASTERLY LINE OF PARCEL B ALONG THE SOUTHEASTERLY
LINE OF SAID PARCEL MAP NO. 7966 AND ALONG LAST SAID TANGENT CURVE THROUGH A
CENTRAL ANGLE OF 11°40'35"AN ARC LENGTH OF 407.58 FEET; THENCE SOUTH 69°30'05"EAST
250.72 FEET; THENCE LEAVING LAST SAID SOUTHEASTERLY LINE, NORTH 0°04'59" EAST 75.98
FEET; THENCE NORTH 89°55'01" WEST 604.06 FEET; THENCE SOUTH 0°04'59"WEST 8.61 FEET;
THENCE SOUTH 54049'11" WEST 24.12 FEET; THENCE NORTH 4°50'51" 9.14 FEET; THENCE
NORTH 85009'09" WEST 104.26 FEET; THENCE NORTH 0°04'58" EAST 22.99 FEET; THENCE
NORTH 89055'01" WEST 623.93 FEET; THENCE NORTH 0°04'59" EAST 103.00 FEET; THENCE
NORTH 23°23'13" WEST 25.11 FEET TO THE EAST LINE OF DAY CREEK BOULEVARD AS SHOWN
ON SAID PARCEL MAP NO. 15641; THENCE ALONG SAID EAST LINE, NORTH 0015'45" EAST TO A
TANGENT CURVE CONCAVE EASTERLY HAVING A RADIUS OF 2428.00 FEET; THENCE
NORTHERLY ALONG LAST SAID TANGENT CURVE THROUGH A CENTRAL ANGLE OF 3°02'25"
128.84 FEET; THENCE NORTH 3°18'10" EAST 1267.27 FEET TO A TANGENT CURVE CONCAVE
WESTERLY HAVING A RADIUS OF 2572.00 FEET; THENCE NORTHERLY ALONG LAST SAID
TANGENT CURVE THROUGH A CENTRAL ANGLE OF 1048'05" AN ARC LENGTH OF 80.87 FEET;
THENCE LEAVING SAID EAST LINE OF DAY CREEK BOULEVARD, NORTH 22°04'33" EAST 26.70
FEET; THENCE SOUTH 89055'01" EAST 1016.33 TO A POINT IN A NON-TANGENT CURVE
CONCAVE SOUTHWESTERLY HAVING A RADIUS OF 85.50 FEET, A RADIAL LINE THROUGH SAID
POINT BEARS SOUTH 15°18'21" WEST; THENCE EASTERLY ALONG SAID NON-TANGENT CURVE
THROUGH A CENTRAL ANGLE OF 8000'31" AN ARC LENGTH OF 11.95 FEET TO A REVERSE
CURVE CONCAVE NORTHEASTERLY HAVING A RADIUS OF 99.50 FEET; THENCE EASTERLY
ALONG SAID REVERSE CURVE THROUGH A CENTRAL ANGLE OF 23°13'53"AN ARC LENGTH OF
40.34 FEET; THENCE SOUTH 89055'01" EAST 150.00 FEET TO A TANGENT CURVE CONCAVE
NORTHWESTERLY HAVING A RADIUS OF 143.67 FEET; THENCE EASTERLY ALONG LAST SAID
TANGENT CURVE THROUGH A CENTRAL ANGLE OF 15032'46" AN ARC LENGTH OF 38.98 FEET
TO A REVERSE CURVE CONCAVE SOUTHEASTERLY HAVING A RADIUS OF 266.33 FEET;
THENCE EASTERLY ALONG LAST SAID REVERSE CURVE THROUGH A CENTRAL ANGLE OF
6°56'18" AN ARC LENGTH OF 32.25 FEET; THENCE SOUTH 89055'01" EAST 128.66 FEET; THENCE
NORTH 0004'59" EAST 50.00 FEET; THENCE SOUTH 89055'01" EAST 579.84 FEET TO A TANGENT
CURVE CONCAVE NORTHEASTERLY HAVING A RADIUS OF 25.00 FEET; THENCE EASTERLY AND
THENCE NORTH 1028'43" WEST 294.75 FEET; THENCE NORTH 44°18'08" EAST 122.48 FEET TO
THE POINT OF BEGINNING.
CONTAINING 21.653 ACRES OF LAND, MORE OR LESS.
PREPARED BY ME OR UNDER MY DIRECTION:
IAN. S
1( C.C. GPG
mo
STANLEY C. MORSE, P.L.S. 3640, DATED 12-06-02 in J m
LICENSE EXPIRES 6-30-04 * Exp. 6/30/2004
No. 3640
G.12901701LEGALSMA7-D.DOC �lglF OF CAO��\P
LEGAL DESCRIPTION
CFD 2003-01
IMPROVEMENT AREA NO. 1 -ZONE NO. 1
PORTIONS OF PARCEL MAP NO. 15641 IN THE CITY OF RANCHO CUCAMONGA, COUNTY OF SAN
BERNARDINO, STATE OF CALIFORNIA, PER MAP RECORDED IN BOOK 192 OF PARCEL MAPS AT
PAGES 93 THROUGH 100 INCLUSIVE, IN THE OFFICE OF THE RECORDER OF SAID COUNTY AND
PARCEL MAP NO. 7966 PER MAP RECORDED IN BOOK 86 OF PARCEL MAPS AT PAGES 1
THROUGH 3 IN SAID RECORDER'S OFFICE, LYING WITHIN THE FOLLOWING DESCRIBED
PARCEL:
BEGINNING AT THE NORTHEASTERLY TERMINUS OF THAT CERTAIN COURSE IN THE
NORTHWESTERLY LINE OF PARCEL MAP NO. 15641 HAVING A BEARING OF NORTH 44°18'08"
EAST AND A DISTANCE OF 122.48 FEET; THENCE FROM SAID POINT OF BEGINNING ALONG THE
NORTHERLY LINE OF SAID PARCEL MAP NO. 15641, NORTH 89°55'01"WEST 172.57 FEET TO THE
BEGINNING OF A TANGENT CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 1052.00 FEET;
THENCE EASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF 4°47'42" AN ARC
LENGTH OF 88.04 FEET TO A REVERSE CURVE CONCAVE SOUTHERLY HAVING A RADIUS OF
947.98 FEET; THENCE EASTERLY ALONG SAID REVERSE CURVE THROUGH A CENTRAL ANGLE
OF 4°47'42"AN ARC LENGTH OF 79.34 FEET; THENCE NORTH 89°55'01" WEST 1059.25 FEET TO
THE BEGINNING OF A TANGENT CURVE CONCAVE SOUTHWESTERLY HAVING A RADIUS OF
798.00 FEET; THENCE SOUTHEASTERLY ALONG SAID CURVE THROUGH A CENTRAL ANGLE OF
32033'40" AN ARC LENGTH OF 453.50 FEET TO A POINT IN A NON-TANGENT REVERSE CURVE
CONCAVE NORTHEASTERLY HAVING A RADIUS OF 945.00 FEET, RADIAL LINES THROUGH SAID
POINT BEAR SOUTH 32°38'39" WEST (798.00-FOOT RADIUS)AND NORTH 33°00'27" EAST (945.00-
FOOT RADIUS); THENCE LEAVING SAID NORTHERLY LINE AND SOUTHEASTERLY ALONG LAST
SAID NON-TANGENT REVERSE CURVE THROUGH A CENTRAL ANGLE OF 8021'01" AN ARC
LENGTH OF. 137.72 FEET; THENCE NON-TANGENT TO THE PREVIOUS CURVE, SOUTH 25004'56"
EAST 22.02 FEET; THENCE SOUTH 68011'33" EAST 35.26 FEET; THENCE SOUTH 21048'29" EAST
11.04 FEET TO THE BEGINNING OF A TANGENT CURVE CONCAVE EASTERLY HAVING A RADIUS
OF 213.00 FEET; THENCE SOUTHERLY ALONG LAST SAID TANGENT CURVE THROUGH A
CENTRAL ANGLE OF 21°43'28" AN ARC LENGTH OF 80.76 FEET; THENCE SOUTH 0004'59" EAST
109.70 FEET, TO A TANGENT CURVE CONCAVE NORTHWESTERLY HAVING A RADIUS OF 25.00
FEET; THENCE SOUTHERLY AND WESTERLY ALONG LAST SAID TANGENT CURVE THROUGH A
CENTRAL ANGLE OF 90°00'00"AN ARC LENGTH OF 39.27 FEET; THENCE NORTH 89°55'01"WEST
579.84 FEET; THENCE SOUTH 0004'59" EAST 50.00 FEET; THENCE NORTH 89°55'01" WEST 128.86
FEET TO A TANGENT CURVE CONCAVE SOUTHEASTERLY HAVING A RADIUS OF 266.33 FEET;
THENCE SOUTHEASTERLY ALONG LAST SAID TANGENT CURVE THROUGH A CENTRAL ANGLE
OF 6°56'18"AN ARC LENGTH OF 32.25 FEET TO A REVERSE CURVE CONCAVE NORTHEASTERLY
HAVING A RADIUS OF 143.67 FEET; THENCE WESTERLY ALONG LAST SAID REVERSE CURVE
THROUGH A CENTRAL ANGLE OF 15032'46" AN ARC LENGTH OF 38.98 FEET; THENCE NORTH
89055'01" WEST 150.00 FEET TO A TANGENT CURVE CONCAVE NORTHEASTERLY HAVING A
RADIUS OF 99.50 FEET; THENCE WESTERLY ALONG LAST SAID TANGENT CURVE THROUGH A
CENTRAL ANGLE OF 23013'53" AN ARC LENGTH OF 40.34 FEET TO A REVERSE CURVE
CONCAVE SOUTHWESTERLY HAVING A RADIUS OF 85.50 FEET; THENCE WESTERLY ALONG
LAST SAID REVERSE CURVE THROUGH A CENTRAL ANGLE OF 8000'31" AN ARC LENGTH OF
11.95 FEET; THENCE NORTH 89055'01" WEST 1016.33 FEET; THENCE SOUTH.22004'33" EAST
26.70 FEET TO A POINT IN A NON-TANGENT CURVE CONCAVE WESTERLY HAVING A RADIUS OF
2572.00 FEET, SAID POINT ALSO BEING IN THE LAST LINE OF DAY CREEK BOULEVARD AS
SHOWN ON SAID PARCEL MAP NO. 15641, A RADIAL LINE THROUGH SAID POINT BEARS NORTH
88029'55" WEST; THENCE NORTHERLY ALONG LAST SAID NON-TANGENT CURVE AND ALONG
SAID EAST LINE THROUGH A CENTRAL ANGLE OF 4045'59" AN ARC LENGTH OF 213.97 FEET;
PARKING STRUCTURE PARCELS
THOSE CERTAIN PORTIONS OF PARCEL 1 OF PARCEL MAP NO, 7966 IN THE CITY OF RANCHO
CUCAMONGA, COUNTY OF SAN BERNARDINO, STATE OF CALIFORNIA, PER MAP RECORDED IN
BOOK 86 AT PAGES 1 THROUGH 3 INCLUSIVE OF PARCEL MAPS IN THE OFFICE OF THE
RECORDER OF SAID COUNTY, MORE PARTICULARLY DESCRIBED AS FOLLOWS:
PARCEL P1:
COMMENCING AT THE NORTHWEST CORNER OF SAID PARCEL MAP NO. 7966; THENCE ALONG
THE NORTH LINE OF LAST SAID PARCEL MAP, SOUTH 89055'01" EAST 707.59 FEET; THENCE
LEAVING SAID NORTH LINE, SOUTH 00004'59" WEST 283.20 FEET TO THE POINT OF BEGINNING
OF THE PARCEL TO BE HEREIN DESCRIBED; THENCE CONTINUING ALONG THE SAME
BEARING, SOUTH 00°04'59" WEST 325.20 FEET; THENCE NORTH 89055'01' WEST 331.99 FEET;
THENCE NORTH 00004'59" EAST 310.20 FEET TO THE BEGINNING OF A TANGENT CURVE
CONCAVE SOUTHEAST, HAVING A RADIUS OF 25.00 FEET; THENCE ALONG SAID TANGENT
CURVE THROUGH A CENTRAL ANGLE OF 36052'12" AN ARC LENGTH OF 16.09 FEET; THENCE
SOUTH 89055'01" EAST 326.99 FEET TO THE POINT OF BEGINNING.
CONTAINING 2.478 ACRES OF LAND, MORE OR LESS.
PARCEL P2:
COMMENCING AT THE NORTHWEST CORNER OF SAID PARCEL MAP NO. 7966; THENCE ALONG
SAID PARCEL MAP, SOUTH 89055'01" EAST 707.59 FEET; THENCE CONTINUING ALONG SAID
NORTH LINE, SOUTH 89055'01" EAST 407.93 FEET; THENCE LEAVING SAID NORTHERLY LINE,
SOUTH 00004'59" WEST 273.20 FEET TO THE POINT OF BEGINNING OF THE PARCEL TO BE
HEREIN DESCRIBED; THENCE CONTINUING ON LAST SAID BEARING, SOUTH 00004'59" WEST
10.00 FEET; THENCE NORTH 89°55'01"WEST 10.17 FEET; THENCE SOUTH 00°04'59"WEST 324.61
FEET;THENCE SOUTH 8955'01" EAST 236.00 FEET;THENCE NORTH 00°04'59"EAST 295.61 FEET
TO THE BEGINNING OF A TANGENT CURVE CONCAVE TO THE SOUTHWEST, HAVING A RADIUS
OF 25.00 FEET; THENCE ALONG SAID TANGENT CURVE THROUGH A CENTRAL ANGLE OF
90000'00" AN ARC LENGTH OF 39.27 FEET; THENCE.NORTH 89055'01" WEST 55.00 FEET TO THE
BEGINNING OF A TANGENT CURVE CONCAVE NORTHEASTERLY HAVING A RADIUS OF 84.57
FEET; THENCE ALONG LAST SAID TANGENT CURVE THROUGH A CENTRAL ANGLE OF 23°28'33"
AN ARC LENGTH OF 34.65 FEET TO THE BEGINNING OF A REVERSE CURVE CONCAVE
SOUTHWESTERLY HAVING A RADIUS OF 84.57 FEET;THENCE ALONG SAID CURVE THROUGH A
CENTRAL ANGLE OF 23°28'33"AN ARC LENGTH OF 34.65 FEET; THENCE NORTH 89°55'01" WEST
78.45 FEET TO THE POINT OF BEGINNING.
CONTAINING 1.771 ACRES OF LAND, MORE OR LESS.
PREPARED UNDER MY DIRECTION
STANLEY C. MORSE, L.S. 3640 DATE
LICENSE EXPIRES 6-30-04
GA4661061LEGALSTKG-STR.00C
EXHIBIT A-2
RATE AND METHOD OF APPORTIONMENT
IMPROVEMENT AREA 2
RATE AND METHOD OF APPORTIONMENT FOR
COMMUNITY FACILITIES DISTRICT NO. 2003-01
OF THE CITY OF RANCHO CUCAMONGA
IMPROVEMENT AREA NO. 2
A Special Tax as hereinafter defined shall be levied on all Assessor's Parcels in Community
Facilities District No. 2003-01 (Improvement Area No. 2) ("CFD No. 2003-01 (IA No. 2)") and
collected each Fiscal Year commencing in Fiscal Year 2003-04, in an amount determined by the
Council through the application of the appropriate Special Tax within each Zone for"Developed
Property" and "Undeveloped Property" as described below. All of the real property in CFD No.
2003-01 (IA No. 2), 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. DEFINITIONS
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 map, parcel map, condominium plan, or other map or plan
recorded with the County. The square footage of an Assessor's Parcel is equal to the
Acreage of such parcel multiplied by 43,560.
"Act"means the Mello-Roos Community Facilities Act of 1982,as amended,being Chapter
2.5, Division 2 of Title 5 of the Government Code of the State of Califomia.
"Administrative Expenses" means the following actual or reasonably estimated costs
directly related to the administration of CFD No.2003-01 (IA No.2):the costs of computing
the Special Taxes and preparing the annual Special Tax collection schedules(whetherby the
City, a designee thereof or both); the costs of collecting the Special Taxes (whether by the
County or otherwise);the costs of remitting the Special Taxes to the Trustee;the costs of the
Trustee (including its legal counsel) in the discharge of the duties required of it under the
Indenture; the costs to the City, CFD No. 2003-01 (IA No. 2) or any designee of either
thereof of complying with arbitrage rebate requirements; the costs to the City, CFD No.
2003-01 (IA No.2)or any designee of either thereof of complying with City,CFD No.2003-
01 (IA No: 2) or obligated persons disclosure requirements; the costs associated with
preparing Special Tax disclosure statements and responding to public inquiries regarding the
Special Taxes;the costs of the City,of CFD No.2003-01 (IA No.2)or any designee of either
thereof related to an appeal of the Special Tax;and the City's annual administration fees and
third party expenses. Administrative Expenses shall also include amounts estimated or
advanced by the City or CFD No.2003-01 (IA No. 2)for any other administrative purposes
of CFD No. 2003-01 (IA No. 2), including. attorney's fees and other costs related to
commencing and pursuing to completion any foreclosure of delinquent Special Taxes.
"Administrative Special Tax Requirement" means, for any Fiscal Year, that amount
estimated to be required to: (i)pay periodic costs on the CFD No.2003-01 (IA No.2)Bonds
City of Rancho Cucamonga December 9, 2002
CFD No. 2003-01 (IA No. 2) Page I
other than regularly scheduled debt service,including but not limited to,credit enhancement
and rebate payments on the CFD No.2003-01 (IA No.2)Bonds as described in the Indenture
and due in the calendar year beginning in said Fiscal Year; and (ii) pay Administrative
Expenses.
"Assessor's Parcel" means a lot or parcel shown in an Assessor's Parcel Map with an
assigned Assessor's parcel number.
"Assessor's Parcel Map" means an official map of the Assessor of the County designating
parcels by Assessor's Parcel number.
"Assigned Special Tax" means the Special Tax applicable to each Assessor's Parcel of
Developed Property, as determined in accordance with Section C below.
"Authorized Facilities" means those improvements, as listed on Exhibit "A" to the
Resolution of Formation.
"Backup Special Tax" means the Special Tax applicable to each Assessor's Parcel of
Developed Property, as determined in accordance with Section C below.
"CFD Administrator" means an official of the City, or designee thereof, responsible for
determining the Special Tax Requirement for each Zone and providing for the levy and
collection of the Special Taxes.
"CFD No.2003-01" means City of Rancho Cucamonga Community Facilities District No.
2003-01 (Victoria Gardens).
"CFD No. 2003-01 (IA.No.2)" means Improvement Area No. 2 of CFD No. 2003-01, as
identified on the boundary map for CFD No. 2003-01.
"CFD No.2003-01 (JA No.2)Bonds"means any bonds or other debt(as defined in Section
53317(d)of the.Act),whether in one or more series,issued by CFD No.2003-01 and secured
solely by Special Taxes levied on property within the boundaries of CFD No. 2003-01 (IA
No. 2)under the Act.
"City" means the City of Rancho Cucamonga.
"Council" means the City Council of the City of Rancho Cucamonga, acting as the
legislative body of CFD No. 2003-01 (IA No. 2).
"County" means the County of San Bernardino.
"Developed Property" means, for each Fiscal Year, all Taxable Property which (i) was
within a Final Map that was recorded prior to January 1 of the previous Fiscal Year, and(ii)
for which a building permit for new construction was issued after January 1, 2002 but prior
to January 1 of the previous Fiscal Year.
City of Rancho Cucamonga December 9, 2002
CFD No. 2003-01 (IA No. 2) Page 2
"Final 'Map" means a final map, lot line adjustment, or parcel map, or portion thereof,
approved by the City pursuant to the Subdivision Map Act (California Government Code
Section 66410 et seq.)and recorded with the County Recorder that creates individual lots for
which building permits may be issued. The term "Final Map" shall not include any
Assessor's Parcel Map or subdivision map or portion thereof,that does not create individual
lots for which a building permit may be issued, including Assessor's Parcels that are
designated as remainder parcels.
"Fiscal Year" means the period starting July 1 and ending on the following June 30.
"Indenture" means the indenture, fiscal agent agreement, resolution or other instrument
pursuant to which CFD No. 2003-01 (IA No. 2) Bonds are issued, as modified, amended
and/or supplemented from time to time.
"Maximum Special Tax"means the maximum Special Tax,determined in accordance with
Section C below, that can be levied in any Fiscal Year on any Assessor's Parcel.
"Outstanding Zone I Bonds"means(a)the product of(i)the original principal amount of
the CFD No.2003-01 (IA No.2)Bonds minus the principal amount of the CFD No.2003-01
(IA No.2)Bonds that have been paid at maturity, or been redeemed or defeased other than
from prepayments of Special Taxes; and(ii)the Zone 1 Allocation,minus(b) the principal
amount of the CFD No.2003-01 (IA No.2)Bonds that have been redeemed or defeased as a
result of the prepayment of Special Taxes by the owners of Assessor's Parcels located in
Zone 1.
"Outstanding Zone 2 Bonds"means(a)the product of(i)the original principal amount of
the CFD No.2003-01 (IA No.2)Bonds minus the principal amount of the CFD No.2003-01
(IA No. 2) Bonds that have been paid at maturity, or been redeemed or defeased other than
from prepayments of Special Taxes; and(ii)the Zone 2 Allocation,minus (b)the principal
amount of the CFD No. 2003-01 (IA No.2)Bonds that have been redeemed or defeased as a
result of the prepayment of Special Taxes by the owners of Assessor's Parcels located in
Zone 2.
"Proportionately" means for Developed Property in a particular Zone that the ratio of the
actual �'Y
Special Tax le in such Zone to the Assigned Special Tax for such Zone is equal for
P
all Assessor's Parcels of Developed Property within such Zone,or where the Backup Special
the ratio of the actual S in such Special Tax levy Tax is being levied in a particular Zone that p �'Y
Zone to the Maximum Special Tax for such Zone is equal for all Assessor's Parcels upon
which a Backup Special Tax is being levied within such Zone. For Undeveloped Property in
particular Zone "Proportionately"means that the ratio of the actual Special Tax levy per
apartP
Acre in such Zone to the Maximum Special Tax per Acre for such Zone is equal for all
Assessor's Parcels of Undeveloped Property within such Zone.
"Public Property"means any property within the boundaries of CFD No.2003-01 (IA No.
2)that is used for rights-of-way or any other purpose and is owned by or irrevocably offered
for dedication to the federal government, the State,the County, the City or any other public
City of Rancho Cucamonga December 9, 2002
CFD No. 2003-01 (IA No. 2) Page 3
agency,provided however that any property leased by a public agency to a private entity and
subject to taxation under Section 53340.1 of the Act shall be taxed and classified in
accordance with its use.
"Resolution of Formation"means the Resolution of Formation for CFD No.2003-01 (IA
No. 2).
"Special Tax" means the special tax to be levied in each Fiscal Year on each Assessor's
Parcel of Developed Property and Undeveloped Property to fund the Zone 1 Special Tax
Requirement or the Zone 2 Special Tax Requirement.
"State" means the State of California.
"Taxable Property"means all of the Assessor's Parcels within the boundaries of CFD No.
2003-01 (IA No. 2)which are not exempt from the Special Tax pursuant to law or Section E
below.
"Trustee" means the trustee or fiscal agent under the Indenture.
"Undeveloped Property"means,for each Fiscal Year,all Taxable Property not classified as
Developed Property.
"Zone" means Zone I or Zone 2, as applicable.
"Zone 1"means all Assessor's Parcels located within the boundaries of Zone 1 as delineated
in Attachment A to this Rate and Method of Apportionment.
"Zone 1 Allocation"means the percentage of CFD No.2003-01 (IA No.2)Bonds allocated
to Zone I based on Zone 1's share of the cost of the Authorized Facilities to be financed
from the proceeds of such bond issue(s). The Zone I Allocation is 37.80%.
"Zone 1 Delinquency Amount" means, for any Fiscal Year, the amount required to (i)
replenish any reserve funds for CFD No.2003-01 (IA No.2)Bonds in an amount equal to the
amount withdrawn therefrom as a result of delinquent Zone I Special Taxes, as reasonably
determined by the CFD Administrator, and (ii) pay for reasonably anticipated delinquent
Zone 1 Special Taxes based on the delinquency rate for Special Taxes levied in Zone I in the
previous Fiscal Year.
"Zone 1 Special Tax Requirement" means, for any Fiscal Year,the sum of(i)the Zone I
Allocation times the Administrative Special Tax Requirement;and (ii)the amount required
to (a) pay regularly scheduled debt service on all Outstanding Zone I Bonds due in the
calendar year beginning in said Fiscal Year, (b) accumulate funds to pay directly for the
construction of Authorized Facilities, and (c) pay the Zone I Delinquency Amount, if any;
(iii)less a credit for funds available to reduce the annual Special Tax levy within Zone 1,as
determined by the CFD Administrator pursuant to the Indenture.
City of Rancho Cucamonga December 9, 2002
CFD No. 2003-01 (/A No. 2) Page 4
"Zone 2"means all Assessor's Parcels located within the boundaries of Zone 2 as delineated
in Attachment A to this Rate and Method of Apportionment.
"Zone 2 Allocation"means the percentage of CFD No.2003-01 (IA No.2)Bonds allocated
to.Zone 2 based on Zone 2's share of the cost of the Authorized Facilities to be financed
from the proceeds of such bond issue(s). The Zone 2 Allocation is 62.20%.
"Zone 2 Delinquency Amount" means, for any Fiscal Year, the amount required to (i)
replenish any reserve funds for CFD No.2003-01 (IA No.2)Bonds in an amount equal to the
amount withdrawn therefrom as a result of delinquent Zone 2 Special Taxes, as reasonably
determined by the CFD Administrator, and (ii) pay for reasonably anticipated delinquent
Zone 2 Special Taxes based on the delinquency rate for Special Taxes levied in Zone 2 in the
previous Fiscal Year.
"Zone 2 Special Tax Requirement" means,for any Fiscal Year, the sum of(i)the Zone 2
Allocation times the Administrative Special Tax Requirement; and(ii)the amount required
to (a) pay regularly scheduled debt service on all Outstanding Zone 2 Bonds due in the
calendar year beginning in said Fiscal Year, (b) accumulate funds to pay directly for the
construction of Authorized Facilities, and (c)pay the Zone 2 Delinquency Amount, if any;
(iii)less a credit for funds available to reduce the annual Special Tax levy within Zone 2,as
determined by the CFD Administrator pursuant to the Indenture.
B. ASSIGNMENT TO LAND USE CATEGORIES
Each Fiscal Year, all Taxable Property within Zone 1 and Zone 2 of CFD No. 2003-01 (IA
No. 2) shall be classified as Developed Property or Undeveloped Property, and shall be
subject to Special Taxes in accordance with the rate and method of apportionment
determined pursuant to Sections C and D below.
C. MAXIMUM SPECIAL TAX RATE
1. ZONE 1
a. Zone 1 Developed Property
(i).. Maximum Special Tax
The Maximum Special Tax for each Assessor's Parcel in Zone I
classified as Developed Property shall be the greater of(i)the amount
derived by application of the Assigned Special Tax for Zone I or(ii)
the amount derived by application of the Backup Special Tax for
Zone 1.
City of Rancho Cucamonga December 9, 2002
CFD No. 2003-01 (1A No. 2) page 5
(ii). Assigned Special Tax
The Assigned Special Tax for each Assessor's Parcel of Developed
Property in Zone 1 of CFD No.2003-01 (IA No.2)shall equal$2,799
per Acre for Fiscal Year 2003-04, and shall increase thereafter,
commencing on July 1, 2004 and on July 1 of each Fiscal Year
thereafter, by an amount equal to two percent(2%) of the Assigned
Special Tax for the previous Fiscal Year.
(iii). Backup Special Tax
The Backup Special Tax for each Assessor's Parcel of Developed
Property in Zone 1 of CFD No.2003-01 (IA No.2)shall equal$3,110
per Acre for Fiscal Year 2003-04, and shall increase thereafter,
commencing on July 1, 2004 and on July 1 of each Fiscal Year
thereafter, by an amount equal to two percent (2%) of the Backup
Special Tax for the previous Fiscal Year.
b. Zone 1 Undeveloped Property
The Maximum Special Tax for Undeveloped Property in Zone 1 of CFD No.
2003-01 (IA No. 2) shall be $3,110 per Acre for Fiscal Year 2003-04, and
shall increase thereafter, commencing on July 1,2004 and on July 1 of each
Fiscal Year thereafter, by an amount equal to two percent (2%) of the
Maximum Special Tax for the previous Fiscal Year.
2. ZONE 2
a. Zone 2 Developed Property
(i). Maximum Special Tax
The Maximum Special Tax for each Assessor's Parcel in Zone 2
classified as Developed Property shall be the greater of(i)the amount
derived by application of the Assigned Special Tax for Zone 2 or(ii)
the amount derived by application of the Backup Special Tax for
Zone 2.
(ii). Assigned Special Tax
The Assigned Special Tax for each Assessor's Parcel of Developed
Property in Zone 2 of CFD No.2003-01 (IA No.2)shall equal$8,480
per Acre for Fiscal Year 2003-04, and shall increase thereafter,
commencing on July 1, 200.4 and on July 1 of each Fiscal Year
thereafter, by an amount equal to two percent (2%) of the Assigned
Special Tax for the previous Fiscal Year.
City of Rancho Cucamonga December 9, 2002
CFD No. 2003-01 (IA No. 2) Page 6
(iii). Backup Special Tax
The Backup Special Tax for each Assessor's Parcel of Developed
Property in Zone 2 of CFD No.2003-01 (IA No.2)shall equal$9,423
per Acre for Fiscal Year 2003-04, and shall increase thereafter,
commencing on July 1, 2004 and on July 1 of each Fiscal Year
thereafter, by an amount equal to two percent (2%) of the Backup
Special Tax for the previous Fiscal Year.
b. Zone 2 Undeveloped Property
The Maximum Special Tax for Undeveloped Property in Zone 2 of CFD No.
2003-01 (IA No. 2) shall be $9,423 per Acre for Fiscal Year 2003-04, and
shall increase thereafter, commencing on July 1, 2004 and on July I of each
Fiscal Year thereafter, by an amount equal to two percent (2%) of the
Maximum Special Tax for the previous Fiscal Year.
D. METHOD OF APPORTIONMENT OF THE SPECIAL TAX
1. ZONE 1
Commencing with Fiscal Year 2003-04 and for each following Fiscal Year, the
Council shall determine the Zone 1 Special Tax Requirement and levy the Special
Tax in Zone 1 until the amount of Special Taxes levied in Zone 1 is equal to the Zone
1 Special Tax Requirement. The Special Tax shall be levied in Zone 1 each Fiscal
Year as follows:
First: The Special Tax shall be levied on each Assessor's Parcel of Developed
Property in Zone 1 in an amount equal to 100% of the Assigned Special Tax for
Developed Property;
Second: If additional monies are needed to satisfy the Zone 1 Special Tax
Requirement after the first step has been completed,the Special Tax shall be levied
Proportionately on each Assessors Parcel of Undeveloped Property in Zone 1 at up to
100% of the Maximum Special Tax for Undeveloped Property;
Third: If additional monies are needed to satisfy the Zone 1 Special Tax
Requirement after the first two steps have been completed, then the levy of the
Special Tax on each Assessor's Parcel of Developed Property in Zone 1 whose
Maximum Special Tax is equal to the Backup Special Tax shall be increased
Proportionately from the Assigned Special Tax up to the Maximum Special Tax for
each such Assessor's Parcel.
Notwithstanding the above,the Council may in any Fiscal Year levy Proportionately
less than 100%of the Assigned Special Tax in step one(above)when the Council no
longer must levy a Special Tax in Zone 1 pursuant to steps two and three above,and
City of Rancho Cucamonga December 9, 2002
CFD No. 2003-0I (IA No. 2) Page 7
(i) all authorized CFD No. 2003-01 (IA No. 2) Bonds have already been issued, or
(ii)the Council has covenanted that it will not issue any additional CFD No.2003-01
(IA No. 2)Bonds(except refunding bonds)to be supported by Special Taxes levied
under this Rate and Method of Apportionment.
2. ZONE 2
Commencing with Fiscal Year 2003-04 and for each following Fiscal Year, the
Council shall determine the Zone 2 Special Tax Requirement and levy the Special
Tax in Zone 2 until the amount of Special Taxes levied in Zone 2 is equal to the Zone
2 Special Tax Requirement. The Special Tax shall be levied in Zone 2 each Fiscal
Year as follows:
First: The Special Tax shall be levied on each Assessor's Parcel of Developed
Property in Zone 2 in an amount equal to 100% of the Assigned Special Tax for
Developed Property;
Second: If additional monies are needed to satisfy the Zone 2 Special Tax
Requirement after the first step has been completed,the Special Tax shall be levied
Proportionately on each Assessor's Parcel of Undeveloped Property in Zone 2 at up to
100% of the Maximum Special Tax for Undeveloped Property;
Third: If additional monies are needed to satisfy the Zone 2 Special Tax
Requirement after the first two steps have been completed, then the levy of the
Special Tax on each Assessor's Parcel of Developed Property in Zone 2 whose
Maximum Special Tax is equal to the Backup Special Tax shall be increased
Proportionately from the Assigned Special Tax up to the Maximum Special Tax for
each such Assessor's Parcel.
Notwithstanding the above,the Council may in any Fiscal Year levy Proportionately
less than 100%of the Assigned Special Tax in step one.(above)when the Council no
longer must levy a Special Tax in Zone 2 pursuant to steps two and three above,and
(i) all authorized CFD No. 2003-01 (IA No. 2) Bonds have already been issued, or
(ii)the Council has covenanted that it will not issue any additional CFD No.2003-01
(IA No. 2)Bonds(except refunding bonds)to be supported by Special Taxes levied
under this Rate and Method of Apportionment.
E. EXEMPTIONS
1. ZONE 1
No Special Tax shall be levied on Public Property in Zone 1.
2. ZONE 2
No Special Tax shall be levied on Public Property in Zone 2.
City of Rancho Cacamonga December 9, 2002
CFD No. 2003-01 (IA No. 2) Page 8
F. REVIEW/APPEAL COMMITTEE
Any taxpayer may file a written appeal of the Special Tax on his/her property with the CFD
Administrator, provided that the appellant is current in his/her payments of Special Taxes.
During the pendency of an appeal, all Special Taxes previously levied must be paid on or
before the payment date established when the levy was made. The appeal must specify the
reasons why the appellant claims the Special Tax is in error. The CFD Administrator shall
review the appeal, meet with the appellant if the CFD Administrator deems necessary, and
advise the appellant of its determination. If the CFD Administrator agrees with the appellant,
the amount of the Special Tax shall be appropriately modified.
The Council may interpret this Rate and Method of Apportionment of Special Tax for
purposes of clarifying any ambiguity and make determinations relative to the annual
administration of the Special Tax and any landowner or resident appeals. Any decision of
the Council shall be final and binding as to all persons.
G. MANNER OF COLLECTION
The Special Tax shall be collected in the same manner and at the same time as ordinary ad
valorem property taxes;provided,however,that CFD No. 2003-01 (IA No. 2)may directly
bill the Special Tax,may collect Special Taxes at a different time or in a different manner if
necessary to meet its financial obligations,and may covenant to foreclose and may actually
foreclose on delinquent Assessor's Parcels as permitted by the Act.
H. PREPAYMENT OF SPECIAL TAX
1. Payment in Full
Only an Assessor's Parcel of Developed Property,or-Undeveloped Property for which
a building permit has been issued, may be prepaid. The Special Tax obligation
applicable to an Assessor's Parcel in CFD No. 2003-01 (IA No. 2) may only be
prepaid after all authorized CFD No. 2003-01 (IA No. 2) Bonds have already been
issued, or after the Council has covenanted that it will not issue any additional CFD
No. 2003-01 (IA No. 2)Bonds(except refunding bonds)to be supported by Special
Taxes levied under this Rate and Method of Apportionment. The obligation of the
Assessor's Parcel to pay any Special Tax may be permanently satisfied as described
herein, provided that a prepayment may be made with respect to a particular
Assessor's Parcel only if there are no delinquent Special Taxes with respect to such
Assessor's Parcel at the time of prepayment. An owner of an Assessor's Parcel
intending to prepay the Special Tax obligation shall provide the CFD Administrator
with written notice of intent to prepay. Within 30 days of receipt of such written
notice, the CFD Administrator shall notify such owner of the prepayment amount of
such Assessor's Parcel. Prepayment must be made not less than 45 days prior to any
redemption date for the CFD No.2003-01 (IA No. 2)Bonds to be redeemed with the
proceeds of such prepaid Special.Taxes.
City of Rancho Cucamonga December 9, 2002
CFD No. 2003-01 (IA No. 2) Page 9
The Prepayment Amount(defined below) shall be calculated as summarized below
(capitalized terms as defined below):
Bond Redemption Amount
plus Redemption Premium
plus Defeasance Amount
plus Administrative Fees and Expenses
less Reserve Fund Credit
less Capitalized Interest Credit
Total: equals Prepayment Amount
As of the proposed date of prepayment, the Prepayment Amount (defined below)
shall be calculated as follows:
Paraeraph No.:
1. Confirm that no Special Tax delinquencies apply to such Assessor's Parcel.
2. For Assessor's Parcels of Developed Property, compute the Maximum
Special Tax for the Assessor's Parcel to be prepaid. For Assessor's Parcels
of Undeveloped Property for which building permits have already been
issued, compute the Maximum Special Tax for the Assessor's Parcel to be
prepaid as though it were already designated as Developed Property,based
upon the building permit which has been issued for that Assessor's Parcel.
3. Divide the Maximum Special Tax computed pursuant to paragraph 2 by the
estimated Maximum Special Taxes for the entire Zone in which the
Assessor's Parcel is located based on the Developed Property Special Taxes
which could be charged in the current Fiscal Year on all expected
development in such Zone, excluding any Assessor's Parcels in such Zone
which have been prepaid; and
4. (a) For Assessor's Parcels in Zone 1, multiply the quotient computed
pursuant to paragraph 3 by the Outstanding Zone 1 Bonds to compute the
amount of Outstanding Zone 1 Bonds to be retired and prepaid; or
(b) For Assessor's Parcels in Zone 2, multiply the quotient computed
pursuant to paragraph 3 by the Outstanding Zone 2 Bonds to compute the
amount of Outstanding Zone 2 Bonds to be retired and prepaid(in either(a)
or(b)above, the "Bond Redemption Amount").
5. Multiply the Bond Redemption Amount for the appropriate Zone computed
pursuant to paragraph 4 by the applicable redemption premium (e.g., the
redemption price — 100%), if any, on the Outstanding Zone 1 or Zone 2
Bonds to be redeemed(the "Redemption Premium").
6. Compute the amount needed to pay interest on the Bond Redemption Amount
from the first bond interest and/or principal payment date following the
City of Rancho Cucamonga December 9, 2002
CFD No. 2003-0I (IA No. 2) Page 10
current Fiscal Year until the earliest redemption date for the Outstanding
Zone 1 or Zone 2 Bonds, as applicable.
7. Determine the Special Taxes levied on the Assessor's Parcel in the current
Fiscal Year which have not yet been paid.
8. Compute the amount the CFD Administrator reasonably expects to derive
from the reinvestment of the Prepayment Amount less the Administrative
Fees and Expenses from the date of prepayment until the redemption date for
the Outstanding Zone 1 or Zone 2 Bonds,as applicable,to be redeemed with
the prepayment.
9. Add the amounts computed pursuant to paragraphs 6 and 7 and subtract the
amount computed pursuant to paragraph 8.
10. Compute the net present value of the amount computed pursuant to
paragraph 9,using as a discount rate the rate of return reasonably assumed by
the CFD Administrator in paragraph 8 (the "Defeasance Amount").
11. The administrative fees and expenses of CFD No. 2003-01 (IA No.2)are as
calculated by the CFD Administrator and include the costs of computation of
the prepayment, the costs to invest the prepayment proceeds, the costs of
redeeming CFD No. 2003-01 (IA No. 2)Bonds, and the costs of recording
any notices to evidence the prepayment and the redemption (the
"Administrative Fees and Expenses").
12. The reserve fund credit(the "Reserve Fund Credit")shall equal the lesser of:
(a) the expected reduction in the reserve requirement (as defined in the
Indenture), if any,associated with the redemption of Outstanding Zone 1 or
Zone 2 Bonds as a result of the prepayment, or (b) the amount derived by
subtracting the new reserve requirement(as defined in the Indenture)in effect
after the redemption of Outstanding Zone 1 or Zone 2 Bonds, as applicable,
as a result of the prepayment from the balance in the reserve fund on the
prepayment date, but in no event shall such amount be less than zero. No
Reserve Fund Credit shall be granted if the amount then on deposit in the
reserve fund for the Outstanding Zone 1 or Zone 2 Bonds, as applicable, is
below 100% of the reserve requirement(as defined in the Indenture).
13. If any capitalized interest for the Outstanding Zone 1 or Zone 2 Bonds, as
applicable, will not have been expended as of the first bond interest and/or
principal payment date following the current Fiscal Year, a capitalized
interest credit shall be calculated by multiplying the quotient computed
pursuant to paragraph 3 by the expected balance in the capitalized interest
fund after such first interest and/or principal payment (the "Capitalized
Interest Credit")..
City of Rancho Cucamonga December 9, 2002
CFD No. 2003-01 (1A No. 2) Page 11
14. The Special Tax prepayment is equal to the sum of the amounts computed
pursuant to paragraphs 4, 5, 10,and 11,less the amounts computed pursuant
to paragraphs 12 and 13 (the "Prepayment Amount").
From the Prepayment Amount, the amounts computed pursuant to paragraphs 4, 5,
10, 12 and 13 shall be deposited into the appropriate fund as established under the
Indenture and be used to redeem Outstanding Zone I or Zone 2 Bonds,as applicable,
or make debt service payments. The amount computed pursuant to paragraph I 1
shall be retained by CFD No. 2003-01 (IA No. 2).
The Prepayment Amount may be sufficient to redeem other than a$5,000 increment
of CFD No.2003-01 (IA No.2)Bonds. In such cases,the increment above$5,000 or
integral multiple thereof will be retained in the appropriate fund established under the
Indenture to be used with the next prepayment of CFD No.2003-01 (IA No.2)Bonds
or to make debt service payments.
Upon confirmation of the payment of the current Fiscal Year's Special Tax levy as
determined under paragraph 7 (above), the CFD Administrator shall remove the
current Fiscal Year's Special Tax levy for such Assessor's Parcel from the County
tax rolls. With respect to any Assessor's Parcel for which the Special Tax obligation
is prepaid in full in accordance with this Section H.1., the Council shall cause a
suitable notice to be recorded in compliance with the Act,to indicate the prepayment
of Special Taxes and the release of the Special Tax lien on such Assessor's Parcel,
and the obligation of such Assessor's Parcel to pay the Special Tax shall cease. .
Notwithstanding the foregoing, no Special Tax prepayment shall be allowed unless
the amount of Maximum Special Taxes that may be levied within the entire Zone in
which the Assessor's Parcel's Special Tax obligation is prepaid both prior to and
after the proposed prepayment is at least 1.1 times the maximum annual debt service
on all Outstanding Zone 1 or Zone 2 Bonds, as applicable.
2. Prepayment in Part
The Special Tax on an Assessor's Parcel of Developed Property and an Assessor's
Parcel of Undeveloped Property for which a building permit has been issued may be
partially prepaid. The amount of the prepayment shall be calculated as in Section
H.1; except that a partial prepayment shall be calculated according to the following
formula:
PP= PEXF
These terms have the following meaning:
PP= the partial prepayment
PE = the Prepayment Amount calculated according to Section H.1
City of Rancho Cucamonga December 9, 2002
CFD No. 2003-01 (1A No. 2) Page 12-.
F= the percentage by which the owner of the Assessor's Parcel(s) is partially
prepaying the Special Tax.
The owner of any Assessor's Parcel who desires such prepayment shall notify the
CFD Administrator of(i)such owner's intent to partially prepay the Special Tax,and
(ii)the percentage by which the Special Tax shall be prepaid, and (iii)the company
or agency that will be acting as the escrow agent, if any. The CFD Administrator
shall provide the owner with a statement of the amount required for the partial
prepayment of the Special Tax for an Assessor's Parcel within thirty(30)days of the
request and may charge a reasonable fee for providing this service.
With respect to any Assessor's Parcel that is partially prepaid, the City shall (i)
distribute the funds remitted to it according to Section H.1, and (ii) indicate in the .
records of CFD No. 2003-01 (IA No. 2) that there has been a partial prepayment of
the Special Tax and that a portion of the Special Tax with respect to such Assessor's
Parcel, equal to the outstanding percentage (1.00 - F) of the remaining Maximum
Special Tax, shall continue to be levied on such Assessor's Parcel pursuant to
Section D.
I. TERM OF SPECIAL TAX
The Special Tax shall be levied for a period not to exceed 50 years commencing with Fiscal
Year 2003-04, provided however that Special Taxes will cease to be levied in an earlier
Fiscal Year if the CFD Administrator has determined (i) that all required interest and
principal payments on the CFD No. 2003-01 (IA No. 2) Bonds have been paid; and (ii) all
Authorized Facilities have been constructed.
K.ICUmu2lRanchoCucamongaI ricfnriaGardewUZMAUmprovemenUrea2_3.doc
Prepared.' 1219/02 _
City of Rancho Cucamonga December 9, 2002
CFD No. 2003-01 (IA No. 2) Page 13
ATTACHMENT A
MAP OF ZONE 1 AND ZONE 2
PROPOSED BOUNDARIES SHEET 7 OF 1 SHEETS
OF
CITY OF RANCHO CUCAMONGA
COMMUNITY FACILITIES DISTRICT NO. 2003-01
IMPROVEMENT AREA NO. 2, ZONE 1 & 2
CRY OF RANCHO CUCAMONGA,COUNTY OF SAN BERNARDINO,STATE OF CALIFORNIA
-------- ---
N".—_ -�
i NA➢.
NAP NA➢
1 NAP.
NAP. I NM.
A. ' p
NAP. ° \ NAP. NA➢.
I NAP.
\11 NAP.
1 I HAP
1 NAP.
MM I H:
E �
I I B NAY. HAP.
S xAP. a° x . L M.A.P. nuc
sg9APM IDa+W
Qp ___ _ __ _ 89K
FI NAP. r _, NAP
Y MN.I 1
NAP.
� i 1 ZONE Z
y N I I
CHU
}3g35 1 1
I I CXURCM OFN]LLC
ac
NAP NAP. 1 HAP. 1 APMRC'411J LLC
O b 1 CHURCH GARD
MM=J�ENSLLO 1 CWRA� ARM
LN ION➢EILt LLC
SP K
1
'4
A
W P. MAP NAP. MAP. 1
Y Y fS l I
L______'__---__— -
HN. I NAP.
IHAv. NAP. Y I °O
NAP.
i ZONE 1
I 1
i
i c°M•cExvArspx I I
APHPHOi1A r 1
os K
I 1 GRAPHIC SCALE
I L I
F F fico a P3S soB loon x000
ITT =
O I N FEET)
..CEAPNLSKN 2 IM.lO]M1
% ARMS 14,
I138K
�1
' flAC]AU]8L Spl ��Y FYEC 14 'E
fif
Iu -Uh 38396^ L
--._-----_—___— cmL
MgOW ROYf!
o-pLll
FkEDWEOFMEOPTHECmUEMMo ECMOPR,wCXOCUcwONOA Ms YMF Mm MDS CONSULTING
clrr aERc a THE aiv aF RAxcxo cDc.AICNrA
1 HEREBY CERTIFY THATTHE KITH.MAP SHOWING PROPOSEO BOUNDARIES OF CITY OF RANCHO CUCAMO4W COMMUNITY FAMMES 05TFnTIp.2Wb1.
IMPROVEMENTAREAN ..3.GTYOFRNICHOWV MON ,COUNTYOFSAN6E UMO.STALEOPCAIMOMN ,WMB PRO OBYT CITYCON CF
TMEGTY OF RWCXO CIICVAMIXIW AiA REQ4/.R MEETNG THEREOF.HEW CN MEQ DRY OFA 3M�6Y 1T5 PESOLVi1ON Ip.�
LT'0.ERK OF INE CRYCF RANCHO
FILED TMI$_WYOF _I Al THE HOUR OF OCLCCM µ.WOR OF MMS OFASSESSMENTAN]COMWN FACRRES
DISTRICTS AT PAGES N THE OFFICE OR THE COUNTY RECOROER N THE CCNIIV OF S.W SERNMOHp.STATE OFCNMORNLI
COUNTYRECMOEROFCOUNIYOFW1OERA4 HHO
COMMUNITY FACILITIES DISTRICT NO. 2003-01
IMPROVEMENT AREA NO.2
ZONE 1 ASSESSOR PARCEL NUMBERS
229-021-62
229-021-63
229-021-64
ZONE 2 ASSESSOR PARCEL NUMBERS
227-211-39
227-211-40
227-211-41
227-211-42
227-211-43
EXHIBIT B-1
Assigned Special Taxes for Developed Property
Community Facilities District No. 2003-01
Improvement Area 1
1 Developed Property $4,318 per Acre
2 Developed Property $36,294 per Acre
3 Developed Property $10,272 per Acre
*Assigned Special Tax escalates by 2%per year.
EXHIBIT B-2
Assigned Special Taxes for Developed Property
Community Facilities District No. 2003-01
Improvement Area 2
M�
r s8tg e�" ec►
1 Developed Property $2,799 per Acre
2 Developed Property $8,480 per Acre
'Assigned Special Tax escalates by 2%per year.
EXHIBIT C-1
Maximum Special Taxes for Undeveloped Property
Community Facilities District No. 2003-01
Improvement Area 1
VID
L.
r , ,
I Undeveloped Property $4,798 per Acre
2 Undeveloped Property $12,817 per Acre
3 Undeveloped Property. $11,413 per Acre
'Maximum Special Tax escalates by 2%per year.
EXHIBIT C-2
Maximum Special Taxes for Undeveloped Property
Community Facilities District No. 2003-01
Improvement Area 2
IZsea ea
a 'mnm,S" ;ci
e De cit a
1 Undeveloped Property $3,110 per Acre
2 Undeveloped Property $9,423 per Acre
*Maximum Special Tax escalates by 2%per year.
PROPOSED BOUNDARIES SHEET I OF I SHEETS
OF
CITY OF RANCHO CUCAMONGA
COMMUNITY FACILITIES DISTRICT NO. 2003-01
IMPROVEMENT AREA NO. 1
CITY OF RANCHO CUCAMONGA,COUNTY OF SAN BERNARDINO,STATE OF CALIFORNIA
j FAP.
jNAP. MAP
jj
1 MAP.
P. NAP WNS%e N3.154a 1MCr M0.1gN] I
I 1 I q I
MAP. 3 NAP. RAP.
I a \
MAP. A
S NAP.
NAP. I MAP. ;P. ♦ NAP. `
m1a1la a �Hl�f MN. j
HlO AC. .1]K. 0 OIE10. NAP. MAP.
M NMII]-1]tJ]
-------------------- ----
ggI NAP r ZONE?
M.P. I NAJ.
y I I 'r •e 1 MAP.
1APMW�q.. 1
YK
MAP.
j V I APRW.N] vAC' j MAP.
j I = ZONE Z
1 1 I
a 1 ,
NAP I MII'I<)3N.la .NM
NAP. I APRw 1DI4. r
I YN1f]3NN
Y Y Ib1IG
p
j I v I
i aroma
MAP. A.,18]SO,M
j IaIC.
NN NAP. IF �
j ZONE 3
rWi5 Y1MNAlVAYS
NAD. N.AP. 1 i I LEGEND.
jI NAP. 1 I NAP. NAP.
j 1 f] rviNA]F110WNCOIXFYIF
I 1 I I PAgOMf.PMP.IT'
1 1
I 1 I I
GRAPHIC SCALE
I
j I � I i ] em o m eao lana aax
1 I ] ]
I � i i i ISIYNi��W13 '
1 1
I — y � ItleD
--Y�i S1aaaYYY,,,
i rw.f-xros �
MOIOW RpIrC �?CIYII f`Y
rr//.m� NiNE(iiIfFCF rNeurr aFPRa*NearSS RAl.cxocvARlaxaArl.a�p.,wYo[ „Aoal MDS CONSULTING
ACr/.� �• /Arv.
cTr amN recra[PAvcSgcvrAlgrloA
I MelusviceMPY rISAr*IY NTIMN AtW SS,LWNa rRcroaeo.ollrq.PYao[cmpRucxocu[iuoraAcwNNmrAculNea Svsrmcr No.xomm. WIAYW�♦
NROVEMEM4IE/.HOt.CRYCi 0.Ygg1.7XIMbgA GIXNRi CF W1lEIiW1UNp.11A]E CP IfOPoaA WA91FggYm IY iSEpM1CQW.16 +Yonwav5.au+ u
m/nFn`oro[PAwocu//n�uwnSraArA Recwr5cer5w mF/rto[.Nm aN nc�l'ywras�j{„SmJ evrts l¢enul5oll w.,gt,ay"j aa+.+s:
tl�� � /l��J � tR—lle CutMONG'R
'um uuN uraF R.Mrin cllcunMw I..r[_ ":' S'^'.:[."
' 0.n_ rNSfIW r F
rAEp iM4�aAY CF��]W_Ar T1E 11dFCf OGCLR_N.IM BpJI( 'CF WPS C[AVESYEM NOLWa1Wr[Iµ1rIE4 F..S 7�
OISriSft9 AiPYf .NiME CFFNZ C[iME C(MMSY RECCYOERNTIE WUMr OFLJ1 BEibU1gWO.SiArEC[CJLiCAN 5„ P„
Maps
pr R356['[IYI CA%r
C..IRCCpiOEROPCO'J.IY SNIRMNANQ. 5-4 M lX
I�nmo�mremeNl-Nv�eq II;Ixrox '