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Home My WebLink About23-Development Services CITY OF SAN BERNARDINO - REQUEST FOR COUNCIL ACTION From: MICHAEL E. HAYS, Director Subject: Authorization to Proceed- 1913 Act Acquisition Assessment District for off site improvements - Tract No. 10260 and Tentative Tract No. 14112 Dept: Development Services Date: February 14,2000 ~(Q)~W File No.14.40-118 MCC Date: 02-22-2000 Synopsis of Previous Council Action: 10-18-99 -- Authorized to proceed with the formation of an Assessment District pursuant to the Municipal Improvement Act of 1913 for water and sewer fees relative to the development of Tract Nos. 11261,13822 and 10260 was granted. 12-20-99 - Resolution authorizing execution of agreements for Investment Banker and Bond Counsel relative to the formation of proposed Assessment District No. 1026 was referred to the Ways and Means Committee. Recommended Motion: 1. That the Director of Development Services and the City Clerk be authorized to proceed with the formation of an Acquisition Assessment District No. 1026, pursuant to the Municipal Improvement Act of 1913 for off-site improvements relative to the development of Tract Nos. 10260 and Tentative Tract No. 14112. ~ 2. That the Director of Development Services be authorized and directed to prepare Agreements for Bond Counsel with the firm of Sabo and Green; for Investment Banking Services with the firm of Miller and Schroeder; and for Assessment Engineer with the firm of GBF -Friedrich & Associates relative to the formation of Assessment District No. 1026 -~~ Contact person: LASZLO uLes" FOGASSY Phone: 5026 Supporting data attached: Staff Report, Maps, Cost Ward: 4 hstunate Hrea!cdown FUNDING REQUIREMENTS: Amount: $162,690 (Formation & consultant fees to be plUa ror nom aeposlt oy penuoner) Source: (Acct. No.) N/A (Acct. Description) N/A Finance: Council Notes: Agenda Item No. 23 ;J.,/~ /)0 CITY OF SAN BERNARDINO - REQUEST FOR COUNCIL ACTION Staff Report-Continued It is proposed that bonds would be sold to provide the necessary funding. The assessments would be spread over 20 years at 6% interest. This would result in an annual assessment of approximately $1595 per single family lot. The formation costs (excluding Investment Bankers Bond Discount, which will be paid for from Bond proceeds, is estimated to be $162,690, which will be deposited by the developer. Thus, in the event the district fails, no City funds will be used for the formation proceedings. If the formation of the district is successful, these fees will be returned to the deVeloper and will be included in the total assessment. If authorization to proceed is given, staff will prepare Agreements for Bond Counsel, Assessment Engineer and Investment Banker. The Agreements will be presented at a future Council Meeting. Once the Agreements are in place, we can proceed with the necessary documents, including an Engineer's Report that will detail all aspects of the assessment district. Staff can send out new Request for Proposals, or the proposals submitted previously for the original proposed district can be updated and submitted for your action. FINANCIAL IMPACT: The $162,690 formation costs will be paid by the developer. RECOMMENDATION: Staff recommends that authorization be given to proceed with the formation of the assessmentcdistrict and that authorized be given to prepare Agreements for Bond Counsel with the firm of Sabo and Green; for Investment Banking Services with the firm of Miller and Schroeder; and for Assessment Engineer with the firm ofGBF-Friedrich & Associates relative to the formation of Assessment District No. 1026. ................\5BAD~~.. ESTIMATE OF COSTS AND EXPENSES FOR ASSESSMENT DISTRICT NO. CITY OF SAN BERNARDINO Description Zone 1 - 46 Loll; Sterling Heighll; at Northpark Tract No. 10260 Zone 2 -- S6 Loll; Sterling Heighll; at Del Rosa Tract No. 14112 I. CONSTRUCTlON COSTS A. Rouoh Gradino Pre Water Site $9,200.00 $11,200.00 Oear and Grub $12,000.00 $42,000.00 Import/Export $6,900.00 $0.00 Excavation and Over Excavation $149,309.00 $546,000.00 Soils Testing $10,000.00 $65,000.00 Survey and Staking $18,400.00 $48,720.00 B.~ Staking $0.00 $0.00 Fine Grade $0.00 $0.00 Paving $138,486.00 $350,485.00 Curb and Gutter $62,250.00 $134,600.00 Sidewalk $4S,OOO.00 $94,OSO.OO C. Sewer - Water Staking $0.00 $0.00 Mainline and Laterals $217,000.00 $326,000.00 Manholes and Oean-outl; $23,400.00 $66,000.00 Trenching $0.00 $0.00 Inspections $0.00 $0.00 D. Drainaoe Staking - Trenching $0.00 $0.00 Pipelines $131,916.00 $SS,600.00 Perimeter Landscape $0.00 $0.00 E. Landscaoe Perimeter Blocking $59,4S0.00 $12,950.00 Staking $0.00 $0.00 Perimeter Landscape $96,780.00 $0.00 F. Water & Sewer Fadlitv Fees $0.00 $0.00 Subtotal Construction $980,091.00 $1,752,605.00 10% Construction Contingendes $98,009.10 $175,260.50 TOTAL CONSTRUCTlON $1,078,100.10 $1,927,865.50 II. ENGINEERING I< RELATED CONST. COSTS Inspection $4,600.00 $5,600.00 TeSting $2,000.00 $2,500.00 Plan Check $4,600.00 $5,600.00 Contract Administration $37,000.00 $42,000.00 Surveying and Staking $37,000.00 $42,000.00 Design Engineering Subtotal Engineering $85,200.00 $97,700.00 10% Engineering Contingendes $8.520.00 $9,770.00 TOTAL ENGINEERING $93,720.00 $107,470.00 Cost and Expenses Preliminary Confirmed Cost and Expenses Preliminary Confirmed TOTAL CONSTRUCTION 1ft ENGINEERING $1,171,820.10 $2,035,335.50 111. CONTRIBUTION BY PROPERTY OWNER -$556.900.00 -$1.290.000.00 IV. PROCEDURAL AND FORMATION COSTS City Fonnation Expenses $11,500.00 $14,000.00 Trustee Fees $11,500.00 $14,000.00 Printing (Official Statemen~ and Advertising) $6,900.00 $8,400.00 Appraisal $6,900.00 $8,400.00 Financial Advisor $6,900.00 $8,400.00 Bond Counsel $11,500.00 $14,000.00 Assessment Engineer $11.500.00 $14.000.00 Sub-Total Procedural Expenses $66,700.00 $81,200.00 10% Procedural Contingendes $6,670.00 $8.120.00 TOTAL PROCEDURAL $73,370.00 $89,320.00 V. BOND ISSUANCE COSTS A. Capitalized Interest (12 mo's @ 6.5%) $54,892.50 $66,560.00 B. Bond Reserve (@ 10% $84,450.00 $102,400.00 C. Bond Discount (@ 2%) $16.890.00 $20,480.00 TOTAL BOND ISSUANCE COSTS $156,232.50 $189,440.00 RECAPITULATION I. CONSTRUC110N COSTS AND CONTINGENCIES $1,078,100.10 $1,927,865.50 n. ENGINEERING & RELATED CONSTRUCTION $93,720.00 $107,470.00 ill. LESS CONTRIBllTlON BY PROPERTY OWNER -$556,900.00 -$1,290,000.00 N. PROCEDURAL & FORMATION COSTS $73,370.00 $89,320.00 V. BOND ISSUANCE COSTS $156,232.50 $189,440.00 TOTAL AMOUNT OF ASSESSMENT $844,522.60 $1,024,095.50 Assessment Amount per Residential Lot $18,359.19 $18,287.42 Value of Finished Lot Per Century Estimate $60,434.00 $60,434.00 Uen to Value Ratio 3.29 to 1 3.30 to 1 TRACT NO. 10260 TENTATIVE TRACT NO. 14112. No Scale 5th 51. Mill 51. " . . o VICINITY MAP CITY OF SAN BERNARDINO DEVELOPMENT SERVICES DEPARTMENT REAL PROPERTY SECTION PROPOSED 1913 ACT ACQUISITION ASSESSMENT DISTRICT FOR OFF-SITE IMRPROVEMENTS ---TRACT NO. 10260 AND TENTATIVE TRACT NO. 14112. ~ indicates un-incorporated areas ~ within City's Sphere of Influence Created by: /.... Foqa~~y Date: 2/1"1-/2000