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HomeMy WebLinkAboutAD 01-1 Continuing Disclosure #3 MemoMUNICIPAL BOND FINANCING FOR LAND DEVELOPMENT AND COMMUNITY FACILITIES PROJECTS January 19, 2004 Don Judkins Wilson & Associates 4221 WEST SIERRA MADRE, SUITE 201 FRESNO, CALIFORNIA 93722 OFFICE (559) 275-5445 FAX (559) 275-6613 Hampton Place, LLC 6$51 McDivitt Drive, Suite B Bakersfield, CA 93313 CIVIL ENGkNEER CE 23269 29-460B Re: Continuing Disclosure Report No. 3 for Fiscal Year 2002/2003 ("FY02/03") City of Bakersfield Assessment District No. 01.1(Ming at Al1enlMountain vista Drive/Hampton Place) Dear Don: My purpose in writing is to ask that you prepare the same scope of information and send it to Marian Shaw (with a copy to me) for the AD 01-1 Report No. 3 as you provided last year for Report No. 2, specifically: An update of the "Acquisition Schedule" that was attached as Exhibit A to the City/Hamptan Place Acquisition and Disclosure Agreement for the Hampton Place Area in AD 01-1, showing the current status of construction and acquisition of the improvements financed by AD 01-1 for that area. Copies of Exhibits A and B from the referenced agreement are enclosed. Also enclosed for your use in preparing the improvement status request are a copy of your letter dated March 24, 2003, and a copy of a letter and acquisition schedule prepared by McIntosh & Associates for Assessment District No. 97- l . A copy is also enclosed of page 17 from the final Official Statement ("0S")for the AD 01-1 Bonds. The City's Continuing Disclosure Report must include a summary of the current status of completion or progress toward completion of the public improvements described on the enclosed OS page under the subheading "THE ASSESSMENT DISTRICT AND THE IMPRQVEMENTS - Description of the Community Areas and the Improvements." Would you please also review the improvement descriptions on DS page 17 and send me your comments on any changes to the described "Improvements" and to their completion status as of June 30, 2003. This Continuing Disclosure Report No. 3 applies only to changes that occurred for the period July 1, 2002, through June 34, 2003. If convenient for you, I would like to receive the requested information by January 31. Please call if you have any questions on the requested data. Sincerely, ~W Ed Nilson Wilson & Associates EVV: s Enclosures cc: John Stinson. (without enclosures) MUNICIPAL BOND FINANCING FOR LAND DEVELOPMENT AND COMMUNITY FACILITIES PROJECTS January 19, 2004 Wilson & Associates 4221 WEST SIERRA MADRE, SUITE 201 FRESNO, CALIFORNIA 93722 OFFICE (559) 275-5445 FAX (559) 275-6613 Brian Alexander Lennar Bakersfield 5251 Office Park Drive, Suite 200 Bakersfield, CA 93309 ~[~ l~.sori C1V1L ENGINEER CE 23269 29-460B Re: Continuing Disclosure Report No. 3 for Fiscal Year 2002/2003 ("FY02I03") City of Bakersfield Assessment District No. 01-1(Ming at Allen/Mountain Vista DrivelHampton Place) Dear Brian: My purpose in writing is to ask that you prepare the same scope of information and send it to Marian Shaw (with a copy to me) for the AD 01-1 Report No. 3 as you provided last year for Report No. 2, specifically: ~~Updates of the "Acquisition Schedules" that were attached as Exhibit A to the City/Coleman Homes (now Lenar) Acquisition and Disclosure Agreement for the Hampton Place Area in AD 01-1, showing the current status of construction and acquisition of the improvements financed by AD 01-1 for that area. Copies of Exhibits A and B from the referenced agreement are enclosed. Also enclosed for your use in preparing the improvement status request are a copies of your letters dated March 13, and 1 S, 2003, covering. the Mountain Vista Drive Area and the Ming at Allen Area, respectively. Copies are also enclosed of pages 16 and 17 from the final Official Statement ("OS")for the AD 01-1 Bonds. The City's Continuing Disclosure Report must include a summary of the current status of completion or progress toward completion of the public improvements described on the enclosed OS page under the subheading "THE ASSESSMENT DISTRICT AND THE IMPROVEMENTS -Description of the Community Areas and the Improvements." Would you please also review the improvement descriptions on OS pages 17 and 18 and send me your comments on any changes to the described "Improvements" and to their completion status as of June 30, 2003. his Continuing Disclosure Report loo. 3 applies on?y to charges that occurs ed for the period July 1, 2002, through June 30, 2003. If convenient for you, I would like to receive the requested information by January 31. Please call if you have any questions on the requested data. Sincerely, . Ed Wilson Wilson & Associates EW.s Enclosures cc; John Stinson (without enclosures) March 2, 2004 John Stinson City of Bakersfield, Department of Public Works ,~ :{ ~ 1501 Truxtun Avenue ~. ~ Bakersfield, CA 93301 `~ r ~A gs ~~"~ ~~ Re: AD 01-1-Min at Allen Area Im rovements , g p Mr. Stinson Assessment District Ol-1 was formed for the purpose of financing the cost of acquisition and/or construction by the City of Bakersfield of certain street, water, sanitary sewer and miscellaneous improvements. Assessment District 01-1 is a collection of three separate community areas in west and southwest Bakersfield. The area that is available for billing at this time is identified as: 1. Ming at Allen Area, generally bounded by the Kern River levee on the north, Allen Road on the west, Ming Avenue and the Kern River Canal on the south, and Parcels A and C of Lot Line Adjustment No. P00-0690 on the east. At this time, all improvements on the Ming at Allen Area have been completed. Coleman Homes, Inc. will be requesting to be reimbursed for all cost incurred during the time of the improvements on the Ming at Allen Area. Coleman Homes, Inc. intends on submitting the request of payment for $926,113.00. We are in the process of preparing that billing. Attached you will find an Exhibit A showing the summary of the acquisition schedule. If you have any questions, please do not hesitate to contact our main office at (661) 326-1141. Respectfully submitted, COLEMAN HOMES, INC. ~~~~~~iJ Gloria A. Chacon Land Development Admin. cc: Ed Wilson Wilson & Associates Tony Hogg Brian Alexander ~~ LENNAR FAMILY 5251 Office Park Drive, Suite 200 • Bakersfield, CA 93309 • (bbl) 326-1141 • Fax (bbl) 32b-1139 • www.ColemanHomes.com Exhibit "A" Assessment District 01-1 Acquisition Schedule Ming at Allen Area River Run Boulevard Improvements A. Grading Improvements B. Storm Drain Improvements C. Water Improvements D. Street Improvements E. Miscellaneous Improvements F. Construction Contingency (10%) G. Incidental Cost H. Total River Run Boulevard Improvements TOTAL IMPROVEMENTS $49,858.00 $76,200.00 $36,000.00 $251,230.00 $306,960.00 $72,025.00 $133,840.00 $926,113.00 A. River Run Boulevard Improvements $926,113.00 EXHIBIT A CITY OF BAKERSFIELD ASSESSMENT DISTRICT NO, 01-1 ~MING AT ALLEN 1 MOUNTAIN VISTA DRIVE /HAMPTON PLACE ACQUISITION SCHEDULE MIND AT ALLEN AREA PROJECT TOTAL AREA ESTIMATED PHASED PHASED TOTAL COMPLETION ACQUISITION ACQUIS1T10N ACQUISITION DATE _ .. ___._.. IMPROVEMENTS _~ - ~ COSTS _ - COSTS CASTS __._.-~~-:- _ ~_:.~- :__:_~::~. _-_ _.:; ,_ __ _ .. __ ___- , _..--.. _ RIVER RUN BOULEVARD IMPROVEMENTS March-7.002 -Grading (acquired with completed Street Impr.) $64,109.00 October-2001 -Storm Drain $97,980.00 April-2002 -Water $46,290.00 June-2002 -Street $323,038.00 July-2002 - Miscellaneous Block Wall) $363,836.00 June-2002 -Miscellaneous (Street Lights} $30,860.00 -Total Improvements, Contingency, and Incidentals $926,113.00 TOTAL MING AT ALLEN AREA IMPROVEMENTS, CONTINGENCY, AND INCIDENTALS $926,113.00 Nate: s t. Each individual improvement item cost includes its share of the improvement contingency and incidental costs 29460AQ1 A-1 04118/2001 ~~ a ~~ w W p., z ~ ~"' Q+ U a ~a~~ W ~ `~' ~~Q` H ~~~Wa A ~a~~~ ~ U w 5 H ~ M ~ ~ ~q~Qo W H \ ~ w ~ Za ~ z ~W~,++ }-~i~"~ W ~ ~ ~ ~ "~ ~-+ O ~ C~ ~ ~ " ~' ~ U ~O ~a ~C ~ vti ~~ a ~, oQ ~~ ~~ w~ ~~ 0 0 z C~9 w J ~~ r } U rtC ~ Lt W .-~; ~~ ~ -~ a. ~. z ° i-- ~ cn ~ i,, ~ w w >^ w ~ F=~ -~ cn ;- ca ~L. ~ v ai Ul Q isJ l_I ,? W 7 ~ ro ~ a: ~ t ~ in ~ ~ ~\ I ~ ~ ~ ~., ~ I ,~ ~ ~~. ~~ ,\:~ G ~~~. M f ~- ~\; i W I L! l~ I C _ K ~: OVG ---.~... _. --1~ ~. _ J :13d_IG0 ._ . _. __.__._ :~_.. ~~ \ ! ~ ~-___.__....._...... ~ ~\i ~~ N ~~ I C7 dy, j ~ + + ~; ', -~ r______._._.._____ I ~, l ~ ~~ I ~ L_....._{ ~ ~ ~ I ~ ~ 1 i! ~ l ____. -L~_ -________ _ .._ _.~_ :. _ _.__~ ._ ~_~_~__. ~+ i ~( ~ ,~ ~ ~~~ d ~~ ~ l :L ~,,~ l' l~ J 1a W 1 a j ~~ t~, I -..._._..._. i ~ ~ ~ L. I ~~' ~' a; I ...1 ~O I l + ~~ f 1 ~t a 's sz ~ .J ~nr~3ny ~f! t:~;~ti:~r ` 1 o, i ~ ~ .._.._ ` 1 ~ ;,, i ' <r ; I ; N ~ ~:I N + ~ ! ~ ~~ ti _\ ~ ill w` w i ! .L i I ~\~~ I 1 m ,lo a n H f F- r ! I ~I ~ .__J ! . ~. -.. ~ ,~ ._J i1V'4u~51GS)1N3!' ! `'~ ~ ! I! ~ 1 ! i ___ __ _ . _____ _ __ ._._L__ __. _ __~...._ _.. _l__ nvo~ a~o.~so~~ IdOSiC1:~-- .c.) `i; `` `J ,,' \~ d~ ~, 0 wo ~ ~ ~" ~~ }~ ~' ~f ~q h ~~ ~~ ~~ ~~ ~~ 0 ! ~Q `~~h m ~ t L+~ .. ~Uj S ~ n; J `c ~, W ~ ~~ V 4. p p;, _ ~• n 7 ,4~ `~ /1~i'~ ` `~~ssf~3a /~~ ~ ~.~ ; ~ I N ~ ~ o ~ '~, ~ W~ ~ ~ a ~ ~'~ ~ a {+ ~ '`~I Fy j q rte-! WU ~"~U ~ W ~ '' `~ r ° L~ ~ r~/~~yy ~ H ~ ~.; ~ ~ l,l 1"' ~ i Q~ ~ A ~'' ~ ~ m ~ ~ H ~ t w ~ ~ ~ H W F...~ F'f"! ~ , r/~ i ~ ~ ~ N p ~ ~ , z a~ ! (~ ~, ~ ~ o ~ r~; ~ a d+ w ~\0 `~ ~~ ~z ~ Q ~ -+ w ~ G ~ Fj-I ~ ~ ~ o U ~ ~ o ~ ~ r v ~~ ~ I " is L~ i ~ O N ~ i+ O + ~ ~ 1.:.J ~ lt~i )I ~~: ~ c7 (\ ~ of m .L} ~ '~ I -. i .i +~, c. .. O -' f ! i ;~ ~. ~, G] ~:_ U 111 I l~I + L,.i u) i I ~; k; iIt I~> ~ n; W ~'I ~~~ <••i :V ~ C; V+ L;; i]_ tL 1 / , ? r ~~ ~ I .....__. ~~.~`/'~ ~ ` I + ~ i ~ rr~ 1~ '~ j ~ fi I <C ! ,i I +; ~~ I i !,, i ~! ! I ` ~ I f ,, Q 7 i `, ! ~ ll ,J I~ Ji ~ ,~ ~ ! .__..__..._____._..._.__ ... ~ f~, ~~~ 1 ' '~ i `` Q' ~ ~- ., . + ,~ i i ~,~ I•~. `II ~- I !i i~ avc~n vista vr,_mr~ ~ 3 ~z a 's os .~. ~ ~ or a 's ors f........~ ~ ~ '' ~ ,~u ~ l~ ;~ ~~ ~ /. tt - I r ' t ~~~~ ~~ ~ r,, ~( ~ •1 ~ .~' ,~ ! ~ ~.~A , ~ 1 I { ~ ~r f ~ o ~f, ~~ o ~~ AU ~~ ~q ~~ ~~ ~~ ~~ o ~~ ~i ~ ~' o March 2, 2004 John Stinson City of Bakersfield, Department of Public Works 1501 Truxtun Avenue Bakersfield, CA 93301 Re: AD 01-1-Mountain Vista Drive Area Improvements Mr. Stinson, ~. t ag ~ ~ ~ ~ t ~~~ ,~.r~ ~~ a ~ ~~`f t~~~~. gp ~~ -~ NF'~~ ~~~~~~ y(~~}' ~~.t.~% rRtt b:.~ 91 ~` Assessment District 01-1 was formed for the purpose of financing the cost of acquisition and/or construction by the City of Bakersfield of certain street, water, sanitary sewer and miscellaneous improvements. - Assessment District 01-1 is a collection of three separate community areas in west and southwest Bakersfield. The area that has been completed & billed for is identified as: 1. Mountain Vista Drive Area, surrounds the Panama-Buena Vista Union School District, Earl Warren Junior High School parcel at Mountain Vista Drive and is bounded by the right-of way for the Southern Pacific Railroad on the south and Mountain Vista Drive on the east. At this time, all improvements on the Mountain Vista Drive Area have been completed. Coleman Homes, Inc. has been paid in full for all improvements on the Mountain Vista Drive Area for $328,987.00 (in August 2003). Attached you will end the same Exhibit A submitted last year showing a summary of the acquisition schedule. If you have any questions, please do not hesitate to contact our main office at (661) 326-1141. Respectfully submitted, COLEMAN HOMES, INC. -a ~ ~ Gloria A. Charon Land Development Admin. cc: Ed Wilson Wilson & Associates Tony Hogg Brian Alexander ~ LENNAR FAMILY 5251 Office Park Drive, Suite 200 • Bakersfield, CA 93309 • (661) 326-1141 • Fax X661 i 326-1139 • vvww.ColemanHomes.com Exhibit "A" Assessment District 01-1 Acquisition Schedule Mountain Vista Drive Improvements A. Street Improvements $25,880.00 B. Miscellaneous Improvements $35,640.00 C. Construction Contingency (10%) $6,152.00 D. Incidental Cost $11,814.00 E. Total Mountain Vista Improvements $79,486.00 Tract No. 6008 On-Site Improvements A. Sewer Improvements $78,420.00 B. Water Improvements $31,500.00 C. Miscellaneous Improvements $78,375.00 D. Construction Contingency (10%) $18,830.00 E. Incidental Cost $42,376.00 F. Total Tract No. 6008 On-Site Improvements $249,501.00 TOTAL IMPROVEMENTS A. Mountain Vista Drive Improvements $79,486.00 B. Tract No. 6008 On-Site Improvements $249,501.00 C. Total Improvements $328,987.00 EXHIBIT A CITY OF BAKERSFIELD ASSESSMENT DISTRICT N0.01.1 (MING AT ALLEN /MOUNTAIN VISTA DRIVE 1 HAMPTON PLACE ACQUISITION SCHEDULE MOUNTAIN VISTA DRIVE AREA PROJECT TOTAL AREA ESTIMATED PHASED PHASED TOTAL COMPLETION ACQUISITION ACQUISITION ACQUISITION _..._.. DATE_ _.._... .__._._...-.------.--...._._._-_..__.IM~R4VEMENTS ______._._....._.___.._._-__..__._ _._.___COSTS,--~_ _____ COSTS ____._ -_.__ COSTS ._ _._._. MOUNTAIN VISTA DRI'~/E IMPROVEMENTS (Tract No. 600 8 Frontage) October-2001 -Street $33,438.00 October-2001 =Miscellaneous (~13iock Wall) ~ $46,~48.u0 -Total Improvements, Contingency, and Incidentals $79,486.00 TRACT N0.6008 ON-SITE IMPROVEMENTS October-2001 -Sewer $103,911.0 August-2001 -Water $41,739.00 July-2001 -Miscellaneous (.Block Wall; Tr 6008 southern bndry) - $103,851.00 -Total Improvements, Contingency, and Incidentals $249,501.00 TOTAL MOUNTAIN VISTA DRIVE AREA IMPROVEMENTS, CONTINGENCY, AND INCIDENTALS $328,987.00 Note: ,. 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I __-_ ~~ -~ I o aeob srdr~ml~r I ~' I I ~~ ` ~ ~ ~ I ~ ~ ( 1 1 ~~ 0 vNOQ a~~.~sa~ r~:~ ~i~sla3- :~,~ t: ~`v ~~~ ~1 ''~,~, 1~ t , ' \ 0 W~ /` ~ ./ ,i W ~ ~I i ~; ~~ hQ ~c ~ c~ ~~ ~ ~, ~~ ~~ 0 - I I i ~ t li; ,;~i ,/ ~ y //% , ~ `~_ ;1: /~/ ' .s' :~ - ~ - ~ j ~~ ' ._ 41 ~ ___ ____..__...._.._._ ___~._ -~ : I ~ ~~ a~ 1 % ~ ~~ i I i ~ C i `~ / ~~ ~ ~~ 1 1 ; ~ ._._~ _.___ _ _ __..... _ ___ _ .. -.-.~.- _ _ ._._.-- .- _ __-_ _ ._ .. ~ I I c, I~ I ~ iii I ~- , ~C '•,I ~ I I I l~ I ~ 7i711~Q H131'i i'!i4`?I'Vil~Ji~~ CJ IC ~ - - .V , - \ ~ ~ ;~ ~ ~ I r ~ ~ w . i ri. ~ ~ ~- . i ,~ .: ~~ ~. z ~ I~-; ( Q~t7?~' V~S!~t Y~ftS(..18 ~ .1 '_r. L' 'S 0: I {~. ! ' I I '~ rj I i ~• } ~~ I `~ 1 ~ I.~ ~ . I I I ~ ~ I ;~ ~ '' r ;,W ~ N •i 7 i I C) !, H I ~1 h r ,' +~ i I ~~ ~ % , y ~1` r , I %; ~! 1 I +,s ~, cC ! ~~ ~~ ' /; ~ ~ ~ o , %% AM ~~ ~~ ~q ~~ ~ ~' o~ ~~ W~ ~" o HAMPTON PLACE, LLC 6851 McDivitt Dr., Suite B Bakersfield, CA 93 313 661-396-8800 January 21, 2004 City of Bakersfield Public Works 1501 Truxtun Ave. Bakersfield, CA 93 3 O 1 Attention: Marion Shaw Reference: Assessment District O 1-1 Continuing Disclosure Dear Marian: The Allen Rd. improvements were completed in 2001 and Hampton Place, LLC was paid, in 2002, $322,036 which was the amount approved in the engineers report. There has been no additional improvements completed this past year in Tract 6007 or Tract 6033. We expect to complete the Palm Ave. improvements with in the next 30 days and the Jenkins Rd. improvements by the Spring of 2005.