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Agenda Item
ASR
Control 21-000964 |
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MEETING DATE: |
11/23/21 |
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legal entity taking action: |
Board of Supervisors and Community Facilities
District No. 2021-1 |
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board of supervisors
district(s): |
5 |
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SUBMITTING
Agency/Department: |
County Executive Office (Approved) |
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Department contact
person(s): |
Suzanne Luster (714) 834-3362 |
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Louis McClure (714) 834-5999 |
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Subject: Community Facilities
District No. 2021-1 (Rienda) Public Hearing
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ceo CONCUR |
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Clerk of the Board |
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Concur |
Approved Resolution to Form |
Public Hearing |
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3 Votes Board Majority |
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Budgeted: N/A |
Current Year Cost:
See Financial Impact Section |
Annual Cost:
See Financial Impact Section |
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Staffing Impact: |
No |
# of Positions:
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Sole Source:
N/A |
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Current Fiscal Year Revenue: N/A
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Prior Board Action: 10/19/2021
#22, 1/12/2021 #20 |
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RECOMMENDED ACTION(S):
Acting as the Board of Supervisors of the County of Orange, approve the following recommended actions:
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1. |
Open the public hearing on the establishment of Community Facilities District No. 2021-1 (Rienda) pursuant to Government Code Section 53325, the rate and method of apportionment of the special tax and the proposed issuance of the bonds. |
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2. |
Receive public testimony. |
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3. |
Close the public hearing. |
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4. |
Approve and file the Engineer's Report as submitted. |
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5. |
Adopt the attached Resolution of the Board of Supervisors of the County of Orange establishing Community Facilities District No. 2021-1 of the County of Orange (Rienda), authorizing the levy of a special tax therein, calling an election and approving and authorizing certain actions related thereto. |
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6. |
Approve the attached Joint Community Facilities Agreement among the County of Orange, Santa Margarita Water District and RMV PA 3 Development, LLC. |
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7. |
Approve the attached Joint Community Facilities Agreement among the County of Orange, Capistrano Unified School District and RMV PA 3 Development, LLC. |
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8. |
Approve the attached Joint Community Facilities Agreement among the County of Orange, Orange County Fire Authority and RMV PA 3 Development, LLC. |
Acting as the Legislative Body of Community Facilities District No. 2021-1 (Rienda), approve the following recommended action:
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Adopt the attached resolution of the Board of Supervisors of the County of Orange, acting as the legislative body of Community Facilities District No. 2021-1 of the County of Orange (Rienda), determining the necessity to incur bonded indebtedness in an amount not to exceed $165,000,000 within Community Facilities District No. 2021-1 of the County of Orange (Rienda) and calling an election therein. |
SUMMARY:
Approval of the formation of the Community Facilities District will provide the future community with an efficient financing mechanism by which facilities, roads and other infrastructure may be built.
BACKGROUND INFORMATION:
On October 19, 2021, your Board of Supervisors (Board) adopted Resolution No. 21-118, declaring its intent to establish Community Facilities District No. 2021-1 (District), authorizing the levy of special taxes and setting a public hearing for November 23, 2021, pursuant to Government Code Section 53325; and Resolution No. 21-119 declaring its intent to incur bonded indebtedness within the District in an amount not to exceed $165 million.
On November 3, 2021, a Notice of Public Hearing was published in The Orange County Register newspaper and mailed to all landowners proposed to be included within the District. The purpose of the public hearing is to ensure that all persons desiring to be heard on all matters pertaining to the formation of the District, the levy of the special tax within the District and the issuance of bonded indebtedness by the District are heard, and full and fair hearings are held. As evidenced by the Certificate of the Registrar of Voters, on file with the Clerk of the Board, there are no registered voters residing within the proposed District for the period of 90 days prior to November 23, 2021, and the qualified electors are the landowners within the District.
The County Executive Office requests your Board's approval of the attached Engineer's Report containing a description of the facilities necessary to meet the needs of the District and an estimate of the cost of such facilities. The Engineer's Report is to be filed at the public hearing and made a part of the record of the public hearing. The Engineer's Report is to be kept with the transcript of these proceedings and open for public inspection.
The County Executive Office requests your Board's adoption of the attached resolution establishing the District, authorizing the levy of a special tax, calling an election and approving and authorizing certain actions related thereto. By adopting this resolution, the Board will be approving the following actions:
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Establish the District. |
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Set forth the types of facilities and incidental expenses authorized and the cost estimates. |
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Declare the Board's intent to levy the proposed special tax at the rates set forth in Attachment A of the resolution (the Rate and Method of Apportionment of a Special Tax) for the District, subject to the approval of the eligible voters of the District. |
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Find, based on information provided by the Registrar of Voters, that there are fewer than 12 registered voters within the District, and that the proposed special tax has not been precluded by a majority protest pursuant to the Mello-Roos Community Facilities Act of 1982 (Act), as amended. |
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Call an election for the District on the propositions of levying the special tax on the property within the District and establishing an appropriations limit for the District for November 23, 2021, or such later date as is consented by the Registrar of Voters and the landowners within the District. |
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6. |
Approve the attached Engineer's Report as submitted. |
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Approve the Joint Community Facilities Agreements among the County of Orange, RMV PA 3 Development, LLC and the Santa Margarita Water District, Capistrano Unified School District and Orange County Fire Authority and execute the agreements. |
Additionally, acting as the legislative body of the District, the County Executive Office requests your Board's adoption of the attached resolution determining the necessity to incur bonded indebtedness within the District and calling an election. By adopting this resolution, your Board will be approving the following actions:
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1. |
Find that it is necessary to incur bonded indebtedness in a maximum aggregate principal amount not to exceed $165 million within the District. |
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2. |
Call and set the date of the special election for the District on the propositions of incurring the bonded indebtedness, authorizing the levy of the special tax and setting an appropriations limit within the District for November 23, 2021, or such later date as is consented to by the Registrar of Voters and the landowners within the District. |
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Establish the maximum term of the bonds issued to not exceed 30 years. |
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Provide that the bonds may bear a variable or fixed interest rate, provided such variable rate or fixed rate shall not exceed 8 percent per annum. |
The proposed voting procedure at the election will be a landowner vote, with each landowner who is the owner of record of the land within the District, or the authorized representative, having one vote for each acre or portion of an acre owned within the District. The County Executive Office will return to your Board for certification of the election results.
The next steps in the formation and financing of the District are the submittal of an ordinance authorizing the levy of a special tax within the District for your Board's consideration, followed by the request for approval of the financing by the Public Financing Advisory Committee and your Board. At that time, the Policy Compliance Report for the proposed financing of the District will be presented.
Prior Board Action
On January 12, 2021, the Board approved a Reimbursement Agreement, under which RMV PA 3 Development, LLC (Developer) is required to periodically advance funds to the County to cover all costs associated with retaining the financing professionals, as well as County staff time. On October 19, 2021, the Board adopted resolutions of intention to establish and incur bonded indebtedness within the District.
Compliance with CEQA
The proposed action is a necessarily included element of the project considered in Final Environmental Impact Report (FEIR) No. 589, which was certified by the Board on November 8, 2004; Addendum 1.0 to FEIR No. 589, approved on July 26, 2006, by the Planning Commission (PC) (PA06-0023); Addendum 1.1 to FEIR No. 589, approved on February 24, 2011, by the Interim Director, OC Public Works (PA11-0003 through PA110006); the Planning Area 2 Addendum to FEIR No. 589, approved on March 27, 2013, by the PC (PA130001 through PA130004 and PA130006); Addendum 3.1 to FEIR No. 589, approved February 25, 2015, by the PC (PA140072-81); and amendments and revisions to the Master Area Plans and Subarea Plans for Planning Areas 3 and 4 (PA180030) approved on September 11, 2019, by the PC. Collectively, these documents adequately address the effects of the proposed action. No subsequent changes have been made in the project, no substantial changes have occurred in the circumstances under which the project is being undertaken and no new information of substantial importance to the project, that was not known or could not have been known when FEIR No. 589, Addendum 1.0, Addendum 1.1, the Planning Area 2 Addendum, Addendum 3.1 and amendments and revisions for Planning Areas 3 and 4 (PA180030) were certified and approved have become known; therefore, no further environmental review is required.
FINANCIAL IMPACT:
All costs incurred by the County to undertake the analyses required to form the proposed District and finance the facilities and improvements are covered under a Reimbursement Agreement between the County of Orange and the Developer approved by your Board on January 12, 2021. Under the Reimbursement Agreement, the Developer is required to periodically advance funds to the County to cover all costs associated with retaining the financing professionals, as well as County staff time. If bonds are issued, there is no financial impact to the County as repayment of the bonds will be paid by the special tax of the District.
STAFFING IMPACT:
N/A
ATTACHMENT(S):
Attachment A - Resolution Establishing Community
Facilities District No. 2021-1
Attachment B - Resolution Determining the Necessity to Incur Bonded
Indebtedness
Attachment C - Engineer's Report
Attachment D - Joint Community Facilities Agreement among the County, Santa
Margarita Water District and RMV PA 3 Development, LLC
Attachment E - Joint Community Facilities Agreement among the County,
Capistrano Unified School District and RMV PA 3 Development, LLC
Attachment F - Joint Community Facilities Agreement among the County, Orange
County Fire Authority and RMV PA 3 Development, LLC
Attachment G - Government Code Section 53325