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Home My WebLink AboutAD 01-1 Memo RE Meeting Notes 01-30-01MUNICIPAL BOND FINANCING FOR LAND DEVELOPMENT AND COMMUNITY FACILITIES ~~ PROJECTS Wilson & Associate 4221 WEST SIERRA MADRE, SUITE 201 FRESNO, CALIFORNIA 93722 (559) 275-5445 MEMORANDUM E d '~'ilsan C1V1L ENGINEER CE 23269 FRANCES SQUIRE COMMUNITY RELATIONS SPECIALIST T0: Resource Team List (see attached list) DATE: February 13, 2001 FROM: Ed Wilson SUBJECT: City of Bakersfield Assessment District No. 01-1 (Ming at Allen/Mountain Vista Drive/Hampton Place) Notes on Meeting of January 3 0, 2001 RE: Our No. 29-460 A copy of the list of meeting attendees is enclosed for your reference and files. The meeting purpose was to initiate work on the Assessment District 01-1 proceedings by bringing the resource team together to: i) define the scope of improvements in each of the three community areas that are proposed to be financed; ii) present the City's bond financing criteria that will be applied to the AD 01-1 proceedings; iii) confirm the key dates for the conduct of the proceedings; and iv) answer questions on the proceedings posed by meeting participants. The meeting results, based solely on my contemporaneous meeting notes, are presented below, and I will make revisions to these notes that any of ou send me and distribute those revisions to all n Y o the most recent version of the Resource team List. Summary of January 30, 2001 Meeting Results 1. The following key activities dates were set for the AD 01-1 proceedings: A. Initial draft of the full engineer's report to be distributed by Wilson 3/30/01 B. Initial appraisal results to be distributed by Launer 3/30/01 C. Council Action for preliminary report approval and setting hearing date of June 13, 2001 4/25/01 D. Council Action to conduct hearing, confirm assessment, approve Preliminary Official Statement (POS) and Bond Purchase Contract (BPC) 6/13/01 E. Close bonds and complete assessment billing set up with County for 2001/02 property taxes 7/20/01 2. Greg Klimko defined value to lien criteria as 3:1 minimum per parcel and 4:1 minimum overall. 3. Coleman Homes, Inc., and Hampton Place will record initial phase final tract maps before the June 13 hearing and the lots for those recorded tract phases will be included in the assessment. 4. As of the January 30 meeting an underwriter had not bee selected for AD Ol-1 5. Council action on February 14 will include acceptance of developer petitions, approval of bond counsel and disclosure counsel, adopt resolutions as follows: A. Determining to proceed with AD 01-1 B. Approve Boundary Map C. Resolution of Intention No.1236 6. Nilson was asked to contact bond counsel Sam Sperry regarding when construction can be started by either Coleman Homes or Hampton Place of improvements they propose to have the City acquire using AD O l -1 bond funds. Pursuant to my February 1 telephone conversation with Sam, to be eligible for City acquisition, an improvement system must not have been completed and accepted by the City prior to the adoption by the Council of a resolution approving an acquisition agreement that describes the specific improvements planned to be acquired. The City cannot acquire or agree to acquire what it already owns. The Draft Activities Plan distributed on February 8 for review and comment shows in its Item IX that the Acquisition & Disclosure Agreements will be approved April 25. It is my understanding that none of the improvements planned for acquisition will have been completed and dedicated to the City by April 25. If this is not correct, we need to know so that the April 25 agreement approval date can be moved forward. 7. According to Mike Lauver, he plans to make June 1, 2001, the effective date of his appraisal and will provide a confirmation of those values, if needed, for the July 17 bond closin g proposed in the February 8 Draft Activities Plan. 8. June 13 is the last available City Council Meeting date for the hearing and confirmation of assessment in time to get the first assessment installment billin faced on the 2001/02 gp property tax bills for the AD 01-1 parcels. All present on January 3 0 agreed that the AD 01-1 first assessment installment should be on the 2001 /02 tax bills so capitalized interest is minimized. 9. Brian Alexander presented revised total acquisition amounts for the Coleman Homes Ming at Allen and Mountain Vista Drive Areas. Brian will confirm to John Stinson whether those revised costs include landscaping requirements and, if so, the landscaping will be deleted and replaced with other work. Don Judkins confirmed his Hampton Place acquisition amounts are good to go as shown. -2- RESOURCE TEAM LIST CITY OF BAKERSFIELD ASSESSMENT DISTRICT Ol-1 (MING AT ALLEN/MOUNTAIN VISTA ROAD/HAMPTON PLACE) Gregory Klimko, Finance Director City of Bakersfield 1501 Truxtun Avenue Bakersfield, CA 93301 (661) 326-3 03 0 Phone (661) 326-3760 Fax Ron Ray, President Coleman Homes 52510ffice Park Drive, Suite 200 Bakersfield, CA 93309 (661) 326-1441 (661)3 26-113 9 Corey Turner, Accountant City of Bakersfield 1501 Truxtun Avenue Bakersfield, CA 93301 (661) 326-3058 (661) 326-3760 Bob Sherfy Chief Assistant City Attorney City of Bakersfield 1501 Truxtun Avenue Bakersfield, CA 93301 (661) 326-3721 (661) 852-2024 Marian P. Shaw City of Bakersfield f~ Public works Department 15 01 Truxtun Avenue Bakersfield, CA 93301 (bb 1) 32b-3 5?9 (661) 324-7483 John Stinson Public Works Department City of Bakersfield 1501 Truxtun Avenue Bakersfield, CA 93301 (661) 326-3592 (661) 324-7483 Brian Alexander, Project Manager Coleman Homes 52510ffice Park Drive, Suite 200 Bakersfield, CA 93309 (661) 326-1441 (661)326-1139 Don Judkins Hampton Place, LLC 6851 McDivitt Drive, Suite B Bakersfield, CA 93313 (661) 396-8800 (661) 396-373? Bruce Graham Cox, Castle & Nicholson Attorneys at Law 2049 Century Park East, 29TH Floor Los Angeles, CA 90067 (310) 284-2274 ~31~j 2??-?~8 Samuel A. Sperry Orrick, Herrington & Sutcliffe Old Federal Reserve Bank Building 400 Sansome Sheet San Francisco, CA 94111 (415) 392-1122 (415) 773-5759 -1- Michael Launer Launer & Associates P. O. Box 564 Bakersfield, CA 93302 (661) 399-8019 (661) 399-0328 Bob Smith Smith Tech USA, Inc. 142417th Bakersfield, CA 93301 {661) 327-8492 {661) 327-8493 Ed Wilson/Dej an Pavic Wilson & Associates 4221 W. Sierra Madre, #201 Fresno, CA 93722 (559) 275-5445 {559) 275-6613 -2- ~~~ ~~ ~ C~ ~~9~ ~ ---.. y s v~ ~ s d~ s ~C.lla-~ ~~ J `'~ ~,~ ~ (,,.r~~ ~~ V f A ' r~ ~, i ~~l err .~ ~ r..- .. ~ ,~ ~ ~ ~~ ~~ ~~ ~ ~~jAN ~~ ~1C.~.~C~t~JDC.~~ Cot.,£.r~'V~rv ~or~l~,~ ,~~~- Jl~}~ r s ' f , ~' ~ ' . r^ / r ~ i ~ rn ~~~ J ~' ~ c ~+ ~r