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HomeMy WebLinkAbout2024-21 TPFA ResolutionRESOLUTION NO. TPFA 2024-21 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE TEMECULA PUBLIC FINANCING AUTHORITY AUTHORIZING THE LEVY OF A SPECIAL TAX IN COMMUNITY FACILITIES DISTRICT NO. 20-01 (HEIRLOOM FARMS - MUNICIPAL SERVICES) THE BOARD OF DIRECTORS OF THE TEMECULA PUBLIC FINANCING AUTHORITY OF THE CITY OF TEMECULA DOES HEREBY RESOLVE AS FOLLOWS: Section 1. The Temecula Public Financing Authority is the legislative body for Community Facilities District No. 20-01 (Heirloom Farms - Municipal Services) (the "CFD"), created pursuant to the Mello -Roos Community Facilities District Act of 1982, as amended (the "Act"). Section 2. The Board of Directors has enacted Ordinance No. TPFA 2021-01 in accordance with Government Code Section 53340 authorizing the levy of a special tax assessment on the property located within the CFD. Section 3. The Board of Directors has completed all steps necessary to levy a special tax assessment in accordance with the procedures set forth in the Act. Section 4. Pursuant to the provisions of Resolution No. TPFA 2021-03 and Ordinance No. TPFA 2021-01, there is to be levied an aggregate special tax of $167,017.86 on the taxable parcels located in the CFD for Fiscal Year 2024-25 to be provided by Webb Municipal Finance, LLC, to the Auditor -Controller of the County. Section 5. The Special Tax as set forth above does not exceed the amount previously authorized by Resolution No. TPFA 21-03 and Ordinance No. TPFA 2021-01 and is not in excess of that previously approved by the qualified electorate of the CFD. Section 6. The proceeds of the Special Tax shall be used in accordance with the Municipal Services listed on the attached Exhibit A. The proceeds of the special tax levy shall be used as set forth above and shal I not be used for any other purpose. Section 7. The Auditor -Controller of the County is hereby directed to enter the installment of the special tax for the exact rate and amount of the special tax levied in accordance with this resolution for each lot or parcel of land affected in a space marked "CFD No. 20-01 (Heirloom Farms — Municipal Services)" on the next County assessment roll on which taxes will become due. Section 8. The County Auditor -Controller shall, at the close of the tax collection period, promptly render to the CFD a detailed report showing the amounts of the special tax installments, penalties, interest and fees collected, and from which properties they have been collected. Any expenses to be paid to the Auditor -Controller for carrying out the foregoing responsibilities shall be in accordance with a contract entered into between the CFD and the Auditor, pursuant to Section 29304 of the Government Code. Section 9. The Authority Secretary shall certify adoption of the resolution. PASSED, APPROVED, AND ADOPTED by the Board of Directors of the Temecula Public Financing Authority this 23`d day of July, 2024. ATTEST: 7 Randi , ecretary [SEAL] 1 James Stewart, Chair 1 1 1 STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss CITY OF TEMECULA ) I, Randi Johl, Secretary of the Temecula Public Financing Authority, do hereby certify that the foregoing Resolution No. TPFA 2024-21 was duly and regularly adopted by the Board of Directors of the Temecula Public Financing Authority at a meeting thereof held on the 23`d day of July, 2024, by the following vote: AYES: 4 BOARD MEMBERS: NOES: 0 BOARD MEMBERS: ABSTAIN: 0 BOARD MEMBERS: ABSENT: 0 BOARD MEMBERS: Alexander, Kalfus, Schwank, Stewart None None None Randi Johl, Secretary EXHIBIT A TEMECULA PUBLIC FINANCING AUTHORITY COMMUNITY FACILITIES DISTRICT NO.20-01 (HEIRLOOM FARMS) DESCRIPTION OF FACILITIES AND SERVICES TO BE FUNDED BY THE DISTRICT It is proposed that the District be eligible to finance all or a portion of the costs of the following facilities: The acquisition and construction of: streets (including paving, aggregate base, striping and traffic marking, sidewalks, curbs, gutters and driveways), including Temecula Center Drive and Ynez Road within and in the vicinity of the District; stormwater drainage systems (including storm drain lines, inlets, outlets, channels, structures, junctions, manholes, catch basins and related dewatering); street light improvements (including light fixtures, substructures, conduits and service points of connection); and street signage (including traffic, stop and street name signs). The foregoing are to include the acquisition of any related right-of-way and other land needed for the installation of any such improvements, demolition of existing structures and site leveling needed for the installation of any such improvements, erosion control, and other appurtenances. • The acquisition and installation of traffic signal improvements, including traffic signal interconnection and video surveillance systems, at the intersection of Ynez Road and Temecula Center Drive. • Landscaping improvements in the public right of way along or in the vicinity of Temecula Center Drive, Date Street and Ynez Road, including related appurtenances. • Capital improvements included in the City of Temecula's adopted Capital Improvement Program for Fiscal Years 2021-2025. • School improvements to be designated by the Temecula Valley Unified School District, which may include construction of buildings, equipping of school facilities, and acquisition of support and other appurtenances with a useful life of five years or more. • Sewer system improvements to be designated by the Eastern Municipal Water District. The Facilities include the acquisition of right-of-way, the costs of design, engineering and planning, the costs of any environmental or traffic studies, surveys or other reports, the cost of any required environmental mitigation and any required noise mitigation measures, landscaping and irrigation, soils testing, permits, plan check and inspection fees, insurance, legal and related overhead costs, coordination and supervision and any other costs or appurtenances related to any of the foregoing. MUNICIPAL SERVICES It is proposed that the District be eligible to fund all or a portion of the costs of the following municipal services: • Public safety services, including police and fire protection. A-1 • Maintenance of parks, and landscaping in public areas, public easements and public right of way in or near the area of the District, such maintenance to include but not be limited to maintenance of planting areas, trees, bioretention filters, multipurpose trails, and the furnishing of water for irrigation. • Maintenance of public signage in or near the District. • Maintenance of storm drainage systems within or serving the area of the District, and including stone drain pipes, culverts, detention/desilting basins, manholes, catch basins • and drop inlets, cleanout of storm drains and catch basin cleaning and inspection. • Maintenance of sidewalks, streets and roadways within or in the vicinity of the area of the District, and including slurry, overlay, curbs and gutters, curb ramps, striping and street sweeping. • Maintenance of street lighting located within or in the vicinity of the District, and including decorative lighting and pull box assemblies. • Maintenance of traffic signals, and traffic interconnection and video surveillance systems, within and in the vicinity of the District, and including electrical, LED replacement, maintenance and replacement. • Graffiti removal from public improvements within and in the area of the District. The District may fund any of the following related to the services described above: the furnishing of services and materials for the ordinary and usual maintenance, operation and servicing of the improvements, including repair, removal or replacement of all or part of any of the improvements, the furnishing of water for the irrigation and the furnishing of electric current or energy, for any lights or irrigation facilities, obtaining, constructing, furnishing, 0perating and maintaining equipment, apparatus or facilities related to providing the services and / or equipment, apparatus, facilities or fixtures in areas to be maintained, obtaining supplies or appurtenant facilities necessary for such maintenance, paying the salaries and benefits of personnel necessary or convenient to provide the services, payment of insurance costs and other related expenses. The District may also provide for the reimbursement to the City of Temecula to the extent that the City of Temecula advances funds to pay for any of the foregoing services, and may fund reserves for repairs and replacements and for future expected costs of services. It is expected that the services will be provided by the City of Temecula, either with its own employees or by contract with third parties, or any combination thereof. The services to be financed by the District shall be in addition to those provided in the territory of the District before the date of creation of the District, and will not supplant services already available within that territory when the District is created. OTHER The District may also finance any of the following: 1. Bond related expenses, including underwriters discount, appraisal and price point study costs, reserve fund, capitalized interest, bond and disclosure counsel fees and expenses, landowner counsel fees and expenses, and all other incidental expenses related to any special tax bonds (the "Bonds") issued for the District. 2. Administrative fees of the Authority, the City of Temecula and the Bond trustee or fiscal agent related to the District and the Bonds. A-2 3. Reimbursement of costs related to the formation of the District advanced by the Authority, the City of Temecula, any landowner in the District, or any party related to any of the foregoing, as well as reimbursement of any costs advanced by the Authority, the City of Temecula, any landowner in the District or any party related to any of the foregoing, for facilities, fees or other purposes or costs of the District. A-3