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HomeMy WebLinkAbout02-302 - Resolutions RESOLUTION NO. 02-302 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO CUCAMONGA WAIVING CERTAIN POLICIES SET FORTH IN THE CITY'S STATEMENT OF GOALS AND POLICIES FOR THE USE OF THE MELLO-ROOS COMMUNITIES FACILITIES ACT OF 1982 IN CONNECTION WITH PROPOSED COMMUNITY FACILITIES DISTRICT NO. 2003-01 RECITALS: A. The City Council of the City of Rancho Cucamonga, California proposes to undertake proceedings pursuant to the Mello-Roos Community Facilities Act of 1982, as amended, commencing with Section 53311 of the California Government Code (the "Act") to form a community facilities district to be designated"City of Rancho Cucamonga Community Facilities District No.2003- 01" and to be located generally south of Church Street, east of Rochester Avenue, north of Arrow Route and west of Interstate 15 in the City of Rancho Cucamonga. B. The Act provides that the City Council may initiate proceedings to establish a community facilities district pursuant to the Act only if it has first considered and adopted local goals and policies concerning the use of the Act. C. Pursuant to its Resolution No.99-154,adopted on July 21, 1999,the City Council adopted the "Statement of Goals and Policies for the Use of the Mello-Roos Community Facilities Act of 1982" (the"Goals and Policies")which are on file in the office of the City Clerk and available for public inspection. D. The Goals and Policies provide that the City may find in limited and exceptional instances that a waiver to any of the policies stated in the Goals and Policies is reasonable given identified special City benefits to be derived from such waiver, with such waivers to be granted by action of the City Council based upon specific public purpose or health and safety findings. E. City Staff has recommended that the City Council waive certain policies set forth in the Goals and Policies in connection with proposed Community Facilities District No. 2003-01 and the City Council desires to waive such policies in accordance with the Staff's recommendation and based upon the special benefits identified by Staff to be derived from such waiver and the specific public purpose identified by Staff to be served by such waiver. NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF RANCHO CUCAMONGA DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS: SECTION 1: In connection with proposed Community Facilities District No. 2003- 01, the City Council hereby waives the requirement set forth in the third paragraph of Section IV of the Goals and Policies that all property not otherwise exempted by the Act from taxation shall be subject to the special tax. Such waiver will allow the major retail anchor pads of the planned Victoria Gardens Regional Shopping Center and privately-owned garages which are to be leased to the City to be exempted from the proposed special tax Resolution No. 02-302 Page 2 of 3 SECTION 2: In connection with proposed Community Facilities District No. 2003- 01, the City Council also hereby waives the requirement set forth in the eighth paragraph of Section IV of the Goals and Policies that the total maximum annual special taxes that can be collected from taxable property in a community facilities district,taking into account any potential changes in land use or development density or rate, and less all projected administrative expenses, must be equal to at least 110 percent of the gross annual debt service on any bonds issued by or on behalf of the district in each year that said bonds will remain outstanding. At the time of formation of proposed Community Facilities District No. 2003-01, the maximum special taxes will provide 110 percent coverage for the debt service on the proposed bonds for the District. However, a waiver of this requirement is necessary in that the proposed rate and method of apportionment of the special taxes provides that no special tax shall be levied on any public property, meaning that debt service coverage could fall below 110 percent depending on how much property, if any, is transferred to a public agency subsequent to the formation of the Community Facilities District No. 2003-01. SECTION 3: Based on the report and recommendation of City Staff presented to the City Council at this meeting and other information presented to the City Council, the City Council hereby finds that the waiver of certain policies set forth in the Goals and Policies as described herein is reasonable and serves a public purpose. Please see the following page for formal adoption,cerci(cation and signatures Resolution No. 02-302 Page 3 of 3 PASSED, APPROVED, AND ADOPTED this 201h day of November 2002. AYES: Alexander, Biane, Curatalo, Dutton, Williams NOES: None ABSENT: None ABSTAINED: None ca —Qo4j-- William J. Ale der, Mayor ATTEST: ebra J. Adams, CMC, City Clerk I,DEBRA J.ADAMS,CITY CLERK of the City of Rancho Cucamonga,California,do hereby certify that the foregoing Resolution was duly passed, approved and adopted by the City Council of the City of Rancho Cucamonga,California,ata Regular Meeting of said City Council held on the 20`h day of November 2002. Executed this 21 s`day of November 2002, at Rancho Cucamonga, California. Debra J. Adams, C , ity Clerk