Quint & Thimmig LLP 1/2/22 3/20/22
01019.32:J17592
CITY OF ALAMEDA COMMUNITY FACILITIES DISTRICT NO. 22-1 (ALAMEDA MARINA) COMMUNITY FACILITIES DISTRICT REPORT CONTENTS Introduction A. Description of Facilities B. Proposed Boundaries of the Community Facilities District C. Cost Estimate Exhibit A – Description of the Facilities Exhibit B – Cost Estimate -2-
CITY OF ALAMEDA COMMUNITY FACILITIES DISTRICT NO. 22-1 (ALAMEDA MARINA) INTRODUCTION. The City Council (the “City Council”) of the City of Alameda (the “City”) did, pursuant to the provisions of the City of Alameda Special Tax Financing Improvement Code (the “Law”), on March 15, 2022, adopt a resolution “Declaring Intention to Establish a Community Facilities District and to Authorize the Levy of Special Taxes Therein – Alameda Marina” (the “Resolution of Intention”). In the Resolution of Intention, the City Council expressly ordered the preparation of a written Community Facilities District Report (the “Report”), for the proposed City of Alameda Community Facilities District No. 22-1 (Alameda Marina) (the “District”). The Resolution of Intention ordering the Report did direct that the Report generally contain the following: 1. A brief description of the facilities by type proposed to be eligible to be financed by the District; and 2. An estimate of the cost of providing the facilities, including the costs of the proposed bond financing and of the City’s administration of the District. For particulars, reference is made to the Resolution of Intention for the District, as previously adopted by the City Council. NOW, THEREFORE, I, the Director of Public Works of the City of Alameda, do hereby submit the following data: A. DESCRIPTION OF FACILITIES. A general description of the facilities that the City Council has determined to be eligible to be funded by the District is as shown in Exhibit “A” attached hereto and by this reference made a part hereof. B. PROPOSED BOUNDARIES OF THE COMMUNITY FACILITIES DISTRICT. The proposed boundaries of the District are those properties and parcels on which special taxes may be levied to pay for the costs and expenses of the facilities. The proposed boundaries of the District are described on the map of the District recorded on March 18, 2022, in Book 19 at Page 33 of Maps of Assessment and Community Facilities Districts in the office of the County Recorder for the County of Alameda (instrument no. 2022057086), a copy of which map is on file with the City Clerk. -3-
C. COST ESTIMATE. The cost estimate for the facilities is set forth in Exhibit “B” attached hereto and by this reference made a part hereof. Dated: April 19, 2022 By: Erin Smith, Director of Public Works, City of Alameda A-1
EXHIBIT A CITY OF ALAMEDA COMMUNITY FACILITIES DISTRICT NO. 22-1 (ALAMEDA MARINA) DESCRIPTION OF FACILITIES ELIGIBLE TO BE FUNDED BY THE DISTRICT FACILITIES The District shall be eligible to finance all or a portion of the costs of the following facilities constructed or to be constructed in the vicinity of the District and the potential annexation area to the District: • Seawall Improvements, including but not limited to the reconstruction of approximately 4,009 linear feet of shoreline embankments, seawall, bulkheads and revetment slopes. The improvements include, but are not limited to overwater demolition of existing structural features, re-grading and installation of riprap (including earth removal and grading), removal of existing seawall and pile driving steel members along with backfill (including lava rock) and lagging installation, construction of cast-in-place concrete walls, placement of new cast-in-place deadman anchor, installation of tie rods, installation of interlocking steel sheets and including related appurtenances. • Outfall Construction, including but not limited to acquisition and installation of stormwater out-fall improvements consisting of reinforced concrete piping and related headwall and related appurtenances, as well as construction of temporary cofferdam to control seawater during construction (including a concrete headwall and storm drain piping). • Promenade Wharf Retrofit, including but not limited to structural retrofit of existing promenade, consisting of installation of precast concrete piles, steel girders, overwater demolition of deteriorated wood piles and seismic jacketing of wood piles, and related appurtenances. • Boat Hoist construction, including but not limited to pile driving precast concrete and steel piles, installation of an elevated cast-in-place concrete platform, and related appurtenances. • Graving Dock Construction, including but not limited to excavation, removal of deteriorated lagging, installation of steel sheets and precast concrete piles, backfill and compaction, and related appurtenances. • Clement Avenue Improvements, including but not limited to the reconstruction of approximately 4,450 linear feet of Clement Avenue for the frontage from Alameda Marina Drive to Willow Avenue and including but not limited to demolition of existing improvements, grinding and overlay of new asphalt paving, upgrading of underground conduits, upgrading of storm and sewer drain catch basins and manholes, removal of existing water service, installation of street lights, sidewalks, curb and gutter and landscaping and irrigation system, and fencing, construction of dedicated bike lane and striping and signage, and related appurtenances.
A-2
The Facilities eligible to be financed are to include the costs of design, engineering and planning, the costs of any environmental or other studies, surveys or reports, the cost of any required environmental mitigation, soils testing, permits, plan check and inspection fees, insurance, legal and related overhead costs, coordination and supervision, City of Alameda staff and consultant costs, and any other costs or appurtenances related to any of the public improvements to be financed. OTHER The District may also finance any of the following: • Bond related expenses, including underwriters discount, appraisal and absorption study costs, reserve fund, capitalized interest, financial advisor, special tax consultant, bond counsel and underwriters’ counsel fees and expenses, landowner counsel fees and expenses, official statement printing, and all other incidental expenses. • Administrative fees and expenses of the City and the Bond trustee or fiscal agent related to the District and the Bonds, and costs of the City or designee in complying with disclosure requirements of the California Government Code and federal securities laws. • Reimbursement of costs related to the formation of the District and the formation by the City of a community facilities district to fund maintenance of seawall and shoreline improvements, and adaptive measures related to the Seawall Improvements described under the heading “Facilities” above, in each case advanced by the City, any landowner or developer of property in the District, or any party related to any of the foregoing, as well as reimbursement of any costs advanced by the City, any landowner or developer of property in the District or any party related to any of the foregoing, for facilities or other purposes or costs of the District.
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EXHIBIT B CITY OF ALAMEDA COMMUNITY FACILITIES DISTRICT NO. 22-1 (ALAMEDA MARINA) COST ESTIMATE 1. ACQUISITION & CONSTRUCTION OF FACILITIES $ 32,190,000 2. INCIDENTALS (a) Bond Reserve Fund $ 3,700,000(1) (b) Bond Discount/Underwriter Compensation 740,000(2) (c) Other Costs of Issuance 370,000(3) Subtotal $ 4,810,000 TOTAL BOND AMOUNT NEEDED $ 37,000,000 (1) Estimated at 10% of Bond principal. (2) Estimated at 2% of Bond principal. (3) Estimated at 1% of Bond principal.