The URL can be used to link to this page

Home My WebLink AboutAD 03-3 Memo RE Meeting Notes 03-12-04Wilson & Associates 7600 North Ingram Avenue, Suite 202 Fresno, California 93711 (559) 436-6644 T0: Steve DeBranch Corey Garberol~o Geoff Geddes Amanda Gomez Bruce Graham Tricia Harbison Don Judkins Judy Kindig Gregory Klimko Michael Launer MEMORANDUM Roger McIntosh DATE; March 15, 2004 ~~ '~ Marian ` S have, .. W Bob Sherfy Paula Simpson y Nelson Smith Sam Sperry John Stinson Laura Whitaker Bob Williams FRAM: , , Ed. Wi on / Deja Pavic . . SUB~T~~T: ~ Notes from Meetings held an,Mareh 12,; 200;4 - Re City of~Bakersfield~.Assessment . ;~ _ ~ ~ .. District No. 03,-3 ~~(Seven aaks,west III /~BrghtonPlaee II ,Fairway Qaks South) RE: ' Our No. 29-63G Two separate meeting were held: (1} starting at 10:00 AM with Don Judkins (the developer of the Fairway Oaks South Area), the representatives of his.: subdivision engineer, and the City staff and. its consultants, and (2) starting shortly before 11:00 AM with Castle & Cooke representatives (the developer of the Seven yaks west III Area and the Brighton Place II Area}, the representative of their subdivision engineer, and the City staff and its consultants. A copy of the list of participants in each meeting is enclosed. Mike Launer presented a brief summary of the valuation method he used in preparing the preliminary appraisal data for AD o3-3. Mike .,delivered a summary table at the meeting and. the full appraisal report will be available around May 1, with the appraised values effective as of April 15 (after all subdivision maps planned for recording are recorded no later than. Apri16}. If necessary, all developers will provide to Mike the updated costs of the improvements already constructed in each area, the updated lot sale prices, and recent -land sale data no later than . Wednesday, March 1,7. Afte g p ;; . , r l eveWin the, relminary~, appralsal~ data, -it was determined Ghat-,;gat this time,,, only tl1e~~"super" .lot t~e,.unsubdivided ; ,arc.el in the Fairwa ~0aks~~South Area ~.daes° not meet ~th~e Ct~~ -re ulred 3~:1' ~ ~ ., ~. ~ ~ ~ . y q~ ' ~ ~ vaaue-to-lien~ratio. ~ However, after Mike Launer receives and reviews the .above-describedupdated., Viand, and improvement cost data, he will prepare a new valuation summary for this parcel. After that, but not later than Friday, March 19, if necessary, a revised scope of improvements for the Fairway Oaks South Area will be submitted to the Assessment Engineer, in order to recalculate the AD 03-3 assessment. amounts sa that all AD 03-3 parcels will meet the minimum required 3 :1 value-to-lien ratio, and also keep the assessment amount equal for all recorded and future residential lots in the Fairway Oaks South Area. There were no requests by the developers for changes to the assessment spread/cost estimates and preliminary assessment amounts~as shown in the Preliminary Engineer's Report approved by the City Council on March 10, 2004. Dejan asked Castle & Cooke and their engineer to confirm whether the storm drain improvements in Allen Road (between Chamber Boulevard and white Lane} in the Seven Oaks West III Area are to remain in the AD 03-3 scope of improvements, since it was mentioned to him that they might not be necessary due to the changes in the final design of that portion of A11en Road. If those improvements are removed from the AD 03-3 scope of work, they will be replaced with some other assessment district approved improvements; in the same amount, so that the already calculated and approved preliminary assessment amounts are not changed. The following status of subdivision maps planned for recording prior to confirmation of the assessment was confirmed: - Tract No. 6086, Tract No. 6087 (Phases A through D) in the Seven Oaks West III Area: already recorded. ~~~ - Tract No. 6185 (all 8 units) in the Brighton Place II Area: all approved by the City Council on February 25, 2004; planned to record on March 16. - Tract No . 615 0 (Units 1 and 2), Tract No . 61 S 1(Units 1 and 2), Tract No . 6199, and Tract No. 6223 (Units 1 through 7) in the Seven Oaks West III Area: scheduled for approval by the. City Council on March 24 and are planned to record on March 30. - Tract No. 6079 Unit One in the Fairway Oaks South Area: scheduled for approval by the City Council on March 24 and is planned to record on March 30. Since the improvement plans for. Tract No. 6079 Unit One are not going to be finalized and approved by the City prior to the recordation of that map, Don Judkins and his engineer were advised of the procedure to 4process and record the Tract No. 6079 Unit One subdivision map as ~~ "paper znap" (made av~;~?~.ble by the Czty fcr recording :subdi`~sicn reaps fir bracts with improvements funded by assessment district proceedings). As soon as Tract No. 6079 Unit One, Tract No. 6150 (Units 1 and 2), Tract No. 6151(Units 1 and 2), and Tract No. 6199 are recorded, the Boundary Map for AD 03-3 can be submitted for recording after filling in the blanks for recordation data of those maps. Due. to recent changes in the landscape lots} layout, McIntosh and Associates will provide Wilson & Associates with the latest version of Tract No. 6223 Unit 1(and any other tract map in A.D 03-3 if changed since the beginning of February}. . -2- Laura Whitaker confirmed that Castle & Cooke will deposit with the City Finance Department no later than March 26, 2004, the amount necessary to payoff the AD 96-1 Assessment No. 4 (funded as a part of the AD ~3-1 proceedings, but affecting also the Brighton Place II Area of AI7 03-3), so that the City can release the AD 96-11ien on that parcel during the first week of April. Castle & Cooke will be reimbursed for this payoff amount from the AD 03-1 bond proceeds. Laura also confirmed that Castle & Cooke will deposit with the City Finance Department no later` than the first week of April 2004, the amounts necessary to payoff the AD 96-2 Assessments No.' 32 and No. 34 in the Seven Oaks West III Area, so that the City care release the AD 96-2 lien on ', those parcels during the second week of April. The payoff amounts for those parcels do not indude the 2003/2004 tax year shares of principal and interest, so the second installment of the 2003/2004 property taxes for the AD 9b-2 Assessments Nos. 32 and 34 have to be paid no later than Aprii 10 (preferably a little earlier so that the City Finance Department can receive the payment information from the County and provide it to the Assessment Engineer and the Disclosure Counsel). The revised AD 03 -3 schedule (transmitted to the entire proj ect team on February 11, 2004) is not changed. An updated copy is enclosed for reference. Bob Williams will prepare a detailed schedule for the preparation and approval of the Preliminary Official Statement, Official Statement, Bond sale, etc., and send it to the project team separately. -3- Updated Schedule for City of Bakersfield Assessment District No. 03-3 Activity Description: Activity Date.: 1. AD 03-3 Petitions filed with Public Works and accepted by the City Council completed 2. Resolution of Intention and Bounda Ma a roved b the Cit Council ~ p pp Y y com Ieted p 3 . Draft Assessment Spread/Cost Estimate sent for review and comments com leted p 4. Comments due on draft Assessment Spread/Cost Estimate completed 5. All necessary information from Assessment Eng, submitted to Appraiser com leted p , 6, File Draft Preliminary Engineer's Report with Public Works com lend p 7. Comments due on Draft Preliminary Engineer's Report com leted p 8. File draft resolutions and draft acquisition agreements with City Attorney (for March 10 action} completed 9. File- Final form Preliminary Eng ineer's Report, resolutions, , and ac uisitlon a reements with Gl 1 q g ty C erk (for March 10 action} completed 10. Draft Appraisal data provided to the project team completed 11. Approve Preliminary Engineer's Report and set hearing date; approve Acquisition Agreements as to form and substance completed 12. Proposed project team meeting to review appraisal data, subdivision ma status bond issuance data and set bond 1 p ssuance documents preparation schedule completed 13. Submit revised scope of improvements and cost estimate to 'S~vllson & Associates based on osslble chan e - p g s due to value to-lien requirements March 19, 20U4 } 14. Revised Asmt. Spread/Cost Estimate sent for review .and comments March 24 2004 15. Last Counci11V1eetin to~ ~~~pprove all subdivision ma~ps needed for recording the Boundary Map ~r A1~3 03-3 (6079-1, 6150-1&Z, 6151-1&2, 6199) March 24, 204 16. Comments due on Revised Assessment Spread/Cost Estimate March 29, 2004 17. Record all subdivision maps approved on March 24 March 30, 2004 18. Record BoundaryT Map for AD 03-3 April 6, 2004 19. File Dru ft Final Engineer's Report With Public Works April 8, 2004 20. File ~dra~ resolutions an~~lo~~ documer~t~ ~~lith City Attorney (for April 28 action} Apri19, 2004 21. Comments due on Draft Final Engineer's Report A ri112, 2004 p 22. ~ Last Council Meeting to a~ prove remainin subdivision maps planned for recordin rlor to ontir - c matron of AD ~~ 3 g p (if any} April 14, 2004 23 . File Final farm Final Engineer's Report, resolutions, and/or documents with City Clerk (for April 28 action} April 16, 20Q4 24. Record alt remainin subdivision maps planned for recording prior , to confirmation of ~ 03 -3 if an ( y} April 20, 2004 25. Hearing and confirmation. of assessment April 28, 2004 26. Record Notice of Assessment and Assessment Diagram .May 4, ~ 2004 27. First day to close escrow on individual residential lots May 5, 2004 28. Bond sale early June, 2004 ~j o3-3 ~u-o~e.f Teas,, /(.~e,h~ /o:co/n.t __ _ . R4~ . ~'•~. ~ wg '1i S ~. uL ~U "~ y ~ ~~{ ~y,~ 4 ~Y,~ r~~ ~ ,w+~' id ~ . r~ 9 4r~. ~ ~ '~ ~~ ~,.• ,+ rl`~ n~ ~~{rr a'e~ }{~ ~ G} ~ ~ ~ 1, ~th i.. f y *.~ ~4 ~ '~ n}~. 0^H'. ~ i^7.~ ~~~}}}~ v. 1~ 0.''F ;t t~ ~. ~i: Yl',., l° ?, ~F~' Tk}l:_.... ~ I ~~ , , o 4 ~ ~ x )y ~ ~ r'` i t r° iii a1 ~ (~( ~ f "" p ~ f"~~., ,I` f i yx~',.,~ +~ , 1 d. s r ~ 41 s` ~ a .r ti,rE ~ ~ ~' },, ~ t~ i.' ~ ' dyP ~ ~~ ~`'a. '}', ~ ' ~ j ' r .~ tr' F ~ j ~ 2 #{' 1t f a 4 !'°' ~~~ _ ~ ~~ ~~ 7~. ~ ~~ ~ . ~, }) f (JY~~ gf/ ~ f 0.1 CJ ~~.~ ~ . ~ty]`S X{}1~ ~ ~~ t~ P i, SS /' ~~ .,,. 1. f !: ,, --~ ~- ~- ~' r. -^~ ~. r ; .._ `~'1.~.` ~''t0~i 4 ~ S~ ~ ~ . _~C ___.... _.__._ ~~v~ ~ ~ ___ _ .d f R 6e +'~.`. ~ Vie., ~ l } ~ p~ } ~ ^~'fQ,,~{`y~~ ~,~"~ _... 1 __ _. .. .. ~ _ . _.~ ...._. . ~~.. .._ . ~r 1 j~+1/~ I* ~// ~' ~~ ~ ~c .r~~~ ~,