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HomeMy WebLinkAboutStaff Report 276-07FROM:CITY MANAGER DEPARTMENT: PUBLIC WORKS 2 DATE: SUBJECT: JUNE 11, 2007 CMR:276:07 PUBLIC HEARING - ASSESSMENT FOR CALIFORNIA AVENUE AREA PARKING BONDS - PLAN G: FY 2007-2008 REPORT IN BRIEF This report requests that Council hold a public hearing and approve the annual assessment for the California Avenue area parking bonds Plan G for FY 2007-08. The assessment is levied on the basis of building square footage, with a credit given for the off-street parking provided by the property owner. This annual assessment is exempt from the requirements of Proposition 218 since it is used to pay the cost of pre-Proposition 218 bonds. Routine maintenance costs for the district are covered by parking permit fees. RECOMMENDATION Staff recommends that Council adopt the attached resolutions (Attachment A) confirming the Engineer’s Report and Assessment Roll for: California Avenue District, Project No. 86-01, California Avenue District, Project No. 92-! 3 BACKGROUND By virtue of the prior establishment of the assessment district and issuance of debt, Council action is required to levy assessments for the two active parking projects in the California Avenue area. These assessments will be utilized for the payment of principal and interest on bonds for capital improvements pursuant to the attached resolutions. These funds are separate and distinct from permit fees that are used to pay for operation and maintenance of parking facilities. The two projects which were funded by this district are listed and described as follows: California Avenue District, former Keystone Lot Parking, Project 86-01 : Surface parking lot on Cambridge Avenue, construction of interim improvements, and a feasibility study for a parking structure on the !ot. California Avenue District. Ted Thompson Parking Structure, Project 92-13: Construction of a two-level parking structure on Cambridge Avenue between Birch Street and Nogal Lane. CMR:XXX:07 Page 1 of 4 Parking bonds issued under Bond Plan G (Section 13.16.150, Palo Alto Municipal Code) require that a public hearing be held annually (the second Monday in June) on the assessments, which must be levied to pay principal and interest on the bonds. The purpose of the public hearing is to allow each property owner the opportunity to question the computation of his/her assessment and the elements which comprise it, that is, the square footage of each occupied building, the off-street parking requirements for the usage, and the off-street parking provided. Assessments are levied on the basis of building square footage, with a credit given for the off-street parking provided by the property owner. Additional details about the Parking Assessment District-Plan G bond capital improvement projects and rates can be found in Attachment s B and C. DISCUSSION The assessment rates for FY 2007-08 per square foot of adjusted building area and the amount levied for each project are: PROJECT California Avenue District, Keystone Lot Parking, Project 86-01 ASSESSMENT RATE PER ADJUSTED BLDG SOUARE FOOTAGE $0.76* $0.0041"* Total: DOLLARS LEVIED $8,349.16 $2,783.06 $11,1,~2._2 California Avenue District, Ted Thompson Parking Structure, Project 92-13 $10.79"$124,178.02 $0.0605**$4!,392.73 Total:$165,570.75 *Rate per weighted assessment factor. **Rate per land square footage. Approximately $341,000 in excess construction funds in the California Avenue District bond fund for the Ted Thompson parking garage, Project 92-13, was used to reduce the tax roll required to pay off the bonds sold to finance the project. To equalize assessments, the funds were spread uniformly over the duration of the bonds (20 years) beginning with the 1996 assessments. The estimated assessments for FY 07-08 reflect the final bond payment for Project 86-01, Keystone Lot Parking. This resulted in lowered assessments for the properties within the district. Due to the payoff of Project 86-01, the annua! assessment for FY 08-09 will show only the last remaining bond assessment, Project 92-13, which will be paid off in 2015. Attachment D lists changes made to the assessment rolls, if any. The estimated assessments were sent to property owners within the California Avenue district on March 2 !, 2007. Assessments were modified due to recent changes in business site conditions (square footage, vacancy, etc.), which were brought to staffs attention by property owners since the estimated assessments were prepared. Because the hearing itself is the legally prescribed process by which questions about the basis of assessment and the property owners’ individual circumstances may be heard, it may be necessary to have a second addendum available at the Council meeting that reflects changes brought to staff’s CMR:276:07 Page 2 of 4 attention since the Council packet was delivered. The public hearing for the assessment district may need to be continued if last minute information brought forward by property owners cannot be verified and included in the amended rolls prior to the hearing. RESOURCE IMPACT The projects are funded by the assessment district and no City General Fund monies are involved. Although assessments are generally subject to Proposition 218, these particular assessments are exempt from Proposition 218 since all of the assessment proceeds are pledged to repay bond indebtedness issued prior to enactment of Proposition 218. Capital work within the California Avenue Parking Assessment District is scheduled for FY 2007- 2008. The work will include drainage and lighting improvements for the Cambridge parking structure and will be funded through the parking district maintenance fund. Parking district maintenance costs, including sweeping, landscaping, signing and lighting are paid for by parking permit tees, which were last increased in 2005 in the California Avenue Parking District. POLICY IMPLICATIONS Approval of this action does not represent any change to existing City" policies. TIMELINE The assessments ~vill be sent to the Santa Clara County Tax Collector in July and will appear on the October property tax bills. ENVIRONMENTAL ASSESSMENT Approval of assessments is exempt by statute for purposes of the California Environmental Quality Act (CEQA). ATTACHMENTS Attachment A: Resolutions (2) Attachment B: Capital hnprovement Program Projects Attachment C: California Avenue Assessment Rates Attachment D: California Avenue District Amendments PREPARED BY: DEPARTMENT HEAD: Project Engineer GLENN S. ROBERTS Director of Public Works CITY MANAGER APPROVAL:~2..-~.~ EMILY HARRISON Assistant City Manager CMR:276:07 Page 3 of 4 cc:California Avenue Area Development Association Chamber of Commerce CMR:276:07 Page 4 of 4 ATTACHMENT A RESOLUTION NO. A RESOLUTION OF THE COUNCIL OF THE CITY OF PALO ALTO CONFIRMING ENGINEER’S REPORT AND ASSESSMENT ROLL CALIFORNIA AVENUE PARKING PROJECT NO. 92-13 (For Fiscal Year 2007-2008) THE COUNCIL OF THE CITY OF PALO ALTO DOES RESOLVE as follows: Section 1: After proceedings to that end duly had and taken pursuant to the Palo Alto Municipal Code, a public hearing has been duly held on the Engineer’s Report and assessment roll prepared for the above fiscal year to pay the principal and interest on bonds issued pursuant to Resolution of Intention No. 7230, adopted by the Council of the City of Palo Alto on August 9, 1993; Section 2: This Council has heard all persons having an interest in any real property within the parking assessment district; has heard all objections, protests, or other written communications from any persons interested in the real property within the district; has taken and received oral and documentary evidence pertaining to the matters contained in the report; has remedied and corrected any errors or informalities in the report and revised and corrected any of the acts or determinations of the various City officials as contained therein, and is fully inform, ed in the premises; Section 3: The Engineer’s Report and assessment roll, and each of the assessments therein as fully revised and corrected, is hereby approved and confirmed. Section 4: The report together with the certificate of the City Clerk as to the fact and date of approval by this Council, shall forthwith be delivered to the County of Santa Clara, and the proper County officer shall cause to be posted to the tax rolls, in the column provided therefor the amount of each of the assessments proposed to be levied and collected for the fiscal year as set forth in the report as confirmed. INTRODUCED AND PASSED: AYES: NOES: ABSENT: ABSTENTIONS: ATTEST: City Clerk APPROVED AS TO FORM: Jones Hall, A Professional Law Corporation By: APPROVED: Mayor bir~-~tor of Public Director, Administrative Services City Attorney -2- ATTACHNIENT A RESOLUTION NO. A RESOLUTION OF THE COUNCIL OF THE CITY OF PALO ALTO CONFIR[VIING ENGINEER’S REPORT AND ASSESSi~IENT ROLL CALIFORNIA AVENUE KEYSTONE LOT PARKING PROJECT NO. 86-01 (For Fiscal Year 2007-2008) THE COUNCIL OF THE CITY OF PALO ALTO DOES RESOLVE as follows: Section 1: After proceedings to that end duly had and taken pursuant to the Palo Alto Municipal Code, a public hearing has been duly held on the Engineer’s Report and assessment roll prepared for the above fiscal year to pay the principal and interest on bonds issued pursuant to Resolution of Intention No. 6485, adopted by the Council of the City of Palo Alto on January 20, 1986; Section 2: This Council has heard all persons having an interest in any real property within the parking assessment district; has heard all objections, protests, or other written communications from any persons interested in the real property within the district; has taken and received oral and documentary evidence pertaining to the matters contained in the report; has remedied and corrected any errors or informalities in the report and revised and corrected any of the acts or determinations of the various City officials as contained therein, and is fully informed in the premises; Section 3: The Engineer’s Report and assessment roll, and each of the assessments therein as fully revised and corrected, is hereby approved and confirmed. Section 4: The report together with the certificate of the City Clerk as to the fact and date of approval by this Council, shall forthwith be delivered to the County of Santa Clara, and the proper County officer shall cause to be posted to the tax rolls, in the column provided therefor the amount of each of the assessments proposed to be levied and collected for the fiscal year as set forth in the report as confirmed. !NTRODUCED AND PASSED: AYES: NOES: ABSENT: ABSTENTIONS: ATTEST: City Clerk APPROVED AS TO FORM: Jones Hall, A Professional Law Corporation APPROVED: Mayor City Manager Director of Public Works Director, Administrative Services City Attorney -2- 0 z~ ©z < zo ATTACHMENT B ATTACHMENT C California Avenue Area Parking District Annual Assessment Rates Project 86-01 ~ o.o8 0.06 ~004 0.02 Land Assessment cO Ob b--c.o cO ~D Ob,@ <4-~_LQ ~-UO .~_ r~.J Ob000~-0 -~-~"~-O~ Oq 000000000~0 cO 8~9 9___0 9_~1 9~2 9_~5 9~4 9__~5 9~6 9~7 9~8 9~9 0._~0 0~i 0~2 03 90 91 92 95 94 95 96 97 98 99 00 01 02 05 04 Year Od Od Oq Cq ~~C~CO UO UO LO bO UO ~-0 0 0 0 0 0qoooc;o o0 O4 O5 O6 O5 O6 07 08 4.0 Building Assessment *1995 base year weighting 0.76\ 8__9_99__00 9_~1 9~2 9__~5 9_~4 9_.55 9_~6 9_~7 9~8 9__89 0__0 0_~1 0~2 0_~5 0___4 05 06 07 90 91 92 95 94 95 96 97 98 99 00 0t 02 05 04 05 06 07 08 Year AB 115-2007 Page 1 of 2 ATTACHMENT C CALIFORNIA AVENUE AREA PARKING DISTRICT ANNUAL ASSESSMENT RATES Project 92-I 3 0.08 0.06 0.04 0.02 LAND ASSESSMENT 94 9~5 9~6 9~7 g~8 9~9 0~0 01 02 03 04 05 06 07 95 96 97 98 99 00 01 02 03 04 05 06 07 08 YEAR 15.0 12.0 11.0 10.0 9.0 8.0 7.0 6.0 BUILDING ASSESSMENT g~4 9___85 9__66 gii7 9__68 9__89 0__0 01 0 2 0 3 0 4 0~5 0 6 0 7 95 96 97 98 99 00 01 02 03 04 05 06 07 08 YEAR AB158-2007 Page 2 of 2 ATTACHMENT D CALIFORNIA AVENUE DISTRICT AMENDMENTS Address, Parcel Number PRELIMINARY ROLL Use Square Parking [ Parking Feet Reqd. Prov No amendments Assessments 92-13 86-01 IAddress, Parcel Number AMENDED ROLL Use Square Parking Parking ] Feet [ Reqd. { Prov Assessments 92-13 86-01 No amendments