HomeMy WebLinkAboutCFD Report
TEMECULA PUBLIC FINANCING AUTHORITY COMMUNITY FACILITIES DISTRICT NO. 03-02 (RORIPAUGH RANCH) COMMUNITY FACILITIES DISTRICT REPORT CONTENTS Introduction A. Description of Facilities
and Prior Lien B. Proposed Boundaries of the Community Facilities District C. Cost Estimate Exhibit A -Description of the Proposed Facilities and Prior Lien Exhibit B -Cost Estimate
TEMECULA PUBLIC FINANCING AUTHORITY COMMUNITY FACILITIES DISTRICT NO. 03-02 (RORIPAUGH RANCH) INTRODUCTION. The Board of Directors (the "Board of Directors") of the Temecula Public Financing
Authority (the "Authority") did, pursuant to the provisions of the Mello-Roos Community Facilities Act of 1982 (the "Law"), on August 24, 2004, adopt Resolution No. TPFA 04-08 entitled,
"A Resolution of the Board of Directors of the Temecula Public Financing Authority Declaring Its Intention to Establish a Community Facilities District and to Authorize the Levy of Special
Taxes Therein -Roripaugh Ranch 03-02" (the "Resolution of Intention"). In the Resolution of Intention, the Board of Directors expressly ordered the preparation of a written Community
Facilities District Report (the "Report"), for the proposed Temecula Public Financing Authority Community Facilities District No. 03-02 (Roripaugh Ranch) (the "District"). The Resolution
of Intention ordering the Report did direct that the Report generally contain the following: 1. A brief description of the facilities eligible to be funded by the District, and of the
fixed special assessment lien to be eliminated by the District; and 2. An estimate of the fair and reasonable cost of providing the facilities, and of eliminating the fixed special assessment
lien, including the incidental expenses in connection therewith, including the costs of the proposed bond financing, any Authority or City of Temecula administrative costs and all other
related costs. For particulars, reference is made to the Resolution of Intention for the District, as previously adopted by the Board of Directors. NOW, THEREFORE, I, the Director of
Public Works of the City of Temecula, do hereby submit the following data: A. DESCRIPTION OF FACILITIES AND PRIOR LIEN. A general description of the facilities that the Authority has
determined to be eligible to be funded by the District, and of the fixed special assessment lien to be eliminated by the District, are as shown in Exhibit "A" attached hereto and hereby
made a part hereof. B. PROPOSED BOUNDARIES OF THE COMMUNITY FACILITIES DISTRICT. The proposed boundaries of the District are those properties and parcels in which special taxes may be
levied to pay for the costs and expenses of the facilities and of the elimination of the fixed special assessment lien. The proposed boundaries of the District are described in the map
of the District recorded on August 31, 2004, in Book 58 on Page 51 of Maps of Assessment and Community Facilities Districts in the office of the County Recorder for the County of Riverside
(instrument no. 2004-0691181), a copy of which map is on file with the Secretary. -1-
C. COST ESTIMATE. The cost estimate for the financing of the facilities and the defeasance of the bonds is set forth in Exhibit "B" attached hereto and hereby made a part hereof. Dated:
January 5, 2005 By:. Bill Hughes, Director of Public Works of the City of Temecula -2-
EXHIBIT A TEMECULA PUBLIC FINANCING AUTHORITY COMMUNITY FACILITIES DISTRICT NO. 03-02 (RORIPAUGH RANCH) DESCRIPTION OF FACILITIES ELIGIBLE TO BE FUNDED BY THE DISTRICT AND PRIOR LIEN
TO BE ELIMINATED BY THE DISTRICT FACILITIES The District may finance all or part of the costs of the following: 1. Murrieta Hot Springs Road Murrieta Hot Springs Road (MHSR) from the
Westerly Boundary Line of Tract 29661 (existing end of pavement) to Butterfield Stage Road: Improvements include grading for full right-of-way with 2:1 slopes, paving, curb and gutter,
median curb, sidewalk, street lights, signing and striping, traffic signal(s) landscaping, irrigation, storm drain, concrete slope protection, sewer and water pipelines, and other appurtenant
improvements necessary to complete MHSR. 2. Butterfield Stage Road Butterfield Stage Road (BSR) from the Northerly tract boundary to Rancho California Road: Improvements include grading
full right-of-way with 2:1 slopes, paving, curb and gutter, median curb, sidewalk, street lights, traffic signal(s), signing and striping, landscaping, irrigation, storm drain, concrete
slope protection, bridges over Santa Gertrudis Creek, and Long Valley Channel, sewer and water pipelines, and other appurtenant improvements necessary to complete Butterfield Stage Road.
3. Nicolas Road 3a Nicolas Road BSR to the Easterly Metropolitan Water District (MWD) R/W: Improvements include grading right-of-way with 2:1 slopes, paving, asphalt berms, curb and
gutter, sidewalk, asphalt path, split rail fence, street lights, landscaping, irrigation, storm drain, underground sewer and water pipelines, and other appurtenant improvements necessary
to complete Nicolas Road. 3b Nicolas Road from the Easterly MWD R/W to Liefer Road including construction of Calle Garisol realignment to Nicolas Road: Improvements include grading partial
right-of-way (40' travel way) with 2:1 slopes, paving, asphalt berms, curb and gutter, sidewalk, asphalt path, utility relocations, traffic detour, split rail fence, street lights, signing
and striping, landscaping, irrigation, sewer, storm drain, bridge over Santa Gertrudis Creek (including channel lining and transition structure to bridge), access road, exit structure
and other appurtenant improvements necessary to complete Nicolas Road. 3c Nicolas Road Sewer Pipeline from Liefer Road to Joseph Road: Improvements include installing a 15" main line
sewer including street re-pavement, traffic detour and other appurtenant improvements necessary to complete Nicolas Road Sewer pipeline. A-l
3d Nicolas Road and North General Kearny Road intersection signalization: Improvements include signalization of intersection, striping, traffic control and other appurtenant improvements
necessary to complete the signalization. 3e Nicolas Road and Winchester Road intersection widening and signal modification: Improvements include modifications to existing traffic signal,
storm drain, paving, curb and gutter, median curb, bus turn-out, striping, traffic control and other appurtenant improvements necessary to complete the intersection and signal modifications.
4. Calle Chapos Calle Chapos from BSR to Walcott Lane: Improvements include grading half right-of-way width plus twelve feet with 2:1 slopes, paving, AC dike, storm drain and other appurtenant
improvements necessary to complete Calle Chapos. 5. Long Valley Channel Long Valley Channel from the Westerly R/W of BSR to the Easterly Project Boundary: Improvements include grading
of channel, flow-by detention basin, construction of drop structures, trapezoidal channel lining, transition structures to Butterfield Stage Road Bridge, rip-rap, grading and paving
of access roads, fencing, and other appurtenant improvements necessary to complete Long Valley Channel. 6. Santa Gertrudis Creek Santa Gertrudis Creek from the Habitat Area to the exit
channel at MWD R/W: Improvements include a flow-by detention basin, headwalls, trapezoidal channel lining and transition structures; grading, fencing and paving for access roads; desilting
and detention basins, rip-rap protection, rip-rap dissipaters, berms, grading of exit structure and other appurtenant improvements necessary to complete Santa Gertrudis Creek. 7. Environmental
Mitigation Mitigation for the Long Valley Channel and Santa Gertrudis Creek improvements: Creation of 8.2 acres of habitat within open space to include grading, access road, electrical
service, irrigation, plant and seed installation and other appurtenant improvements necessary to complete resource agency conditioned environmental mitigation for the Long Valley Channel
and Santa Gertrudis Creek improvements. 8. Sports Park Sports Park at the SE corner of the intersection of North Loop Road and Butterfield Stage Road: Construct 20±-acre Sports Park
including grading, parking, building, lighting landscaping, irrigation, playing fields, basketball courts, children's play area, equipment with a useful life of five (5) years or more
and other appurtenant improvements necessary to complete the Sports Park. A-2
9. Fire Station Site Grading Roripaugh Ranch Fire Station site grading Improvements include site grading and other appurtenant improvements necessary to provide a rough graded fire station
site. 10. North Loop Road North Loop Road from BSR to Gate House East of BSR (Public Section only): Improvements include grading full right-of-way with 2:1 slopes, paving, curb and gutter,
median curb, sidewalk, street lights, signing and striping, landscaping, irrigation, storm drain, sewer and water pipelines, North Loop Road Bridge and other appurtenant improvements
necessary to complete the public segment of the North Loop Road East of BSR. 11. South Loop Road South Loop Road from BSR to Gate House East of BSR (Public Section only): Improvements
include grading full right-of-way with 2:1 slopes, paving, curb and gutter, median curb, sidewalk, street lights, signing and striping, landscaping, irrigation, storm drain, sewer and
water pipelines, and other appurtenant improvements necessary to complete the public segment of the South Loop Road East of BSR. 12. Roripaugh Valley Road ( A Street) Roripaugh Valley
Road Grading and Street Improvements from Murrieta Hot Springs Road to Butterfield Stage Road: Improvements include grading full right-of-way with 2:1 slopes, paving, curb and gutter,
median curb, sidewalk, street lights, signing and striping, landscaping, irrigation, storm drain, sewer and water pipelines, and other appurtenant improvements necessary to complete
Roripaugh Valley Road between Murrieta Hot Springs Road and Butterfield Stage Road. 13. Fiesta Ranch Road ( B Street) Fiesta Ranch Road Grading and Street Improvements from Roripaugh
Valley Road to Nicolas Road: Improvements include grading full right-of-way with 2:1 slopes, paving, curb and gutter, median curb, sidewalk, street lights, signing and striping, landscaping,
irrigation, storm drain, sewer and water pipelines, and other appurtenant improvements necessary to complete Fiesta Ranch Road between Roripaugh Valley Road and Nicolas Road. 14. Fire
Station and Fire Apparatus Fire Station Construction and Fire Truck Purchase: Improvements include the acquisition of land for and construction of a fire station to be located at the
Southeast corner of Butterfield Stage Road and the South Loop Road, and to consist of a building of approximately 9,100 square feet. Also, the equipping of the fire station, including
furniture and fixtures, and the acquisition of a fire truck and other fire fighting apparatus. A-3
15. Neighborhood Park Neighborhood Park at the SW corner of the intersection of Murrieta Hot Springs Road and Roripaugh Valley Road (A Street): Construct 5.1-acre Neighborhood Park including
grading, parking, restroom building, lighting, landscaping, irrigation, open grass area, basketball court, children's play area, equipment with a useful life of five (5) years or more
and other appurtenant improvements necessary to complete the Neighborhood Park. 16. SR-79 Improvements Improvements include right-of-way acquisition, grading to accommodate road widening,
paving, curb and gutter, median curb, sidewalk, street lights, traffic signal(s), signing and striping, landscaping, irrigation, storm drain, and other appurtenant improvements necessary
to complete improvements to SR-79 within the City of Temecula City limits. PRIOR LIEN The District may fund amounts necessary to eliminate all or a portion of the lien imposed by the
County of Riverside Assessment District No. 161 on the real property within the District. District. OTHER The District may also finance any of the following: 1. Bond related expenses,
including underwriter's discount, reserve fund, capitalized interest, bond and disclosure counsel and all other incidental expenses. 2. Administrative fees of the Authority, the City
of Temecula and the bond trustee or fiscal agent related to the District and any bonded indebtedness of the District. 3. Reimbursement of costs related to the formation of the District
advanced by the Authority, the City or any related entity, or any landowner or developer within the District, as well as reimbursement of any costs advanced by the Authority or any related
entity, or any landowner or developer within the District, for facilities, fees or other purposes or costs of the District A-4
EXHIBIT B TEMECULA PUBLIC FINANCING AUTHORITY COMMUNITY FACILITIES DISTRICT NO. 03-02 (RORIPAUGH RANCH) FACILITIES AND LIEN ELIMINATION COST ESTIMATE 1. ACQUISITION & CONSTRUCTION OF
FACILITIES 2. INCIDENTALS (a) Bond Reserve Fund (b) Bond Discount/Underwriter Compensation (c) Capitalized Interest (d) Other Costs of Issuance (e) First Year Administration Costs 3.
COST TO PREPAY FIXED ASSESSMENT LIEN 4. CONTINGENCIES TOTAL BOND AMOUNT NEEDED $ 45,108,591 3,647,182 1,046,600 1,952,627 515,000 60,000 1,000,000 1.670.000 $ 55,000,000 B-l