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CITY COUNCIL AGENDA REPORT
City of Anaheim
DEPARTMENT OF PUBLIC WORKS
DATE: NOVEMBER 15, 2022
FROM: PUBLIC WORKS DEPARTMENT
SUBJECT: AGREEMENT WITH DAVID TAUSSIG & ASSOCIATES, INC.
DBA DTA FOR COMMUNITY FACILITIES DISTRICTS (CFD)
SPECIAL TAX CONSULTING SERVICES FOR OCV!BE
PROJECT
ATTACHMENT (Y/N): YES ITEM # 14
RECOMMENDATION:
That the City Council, by Motion, waive Council Policy 4.1 and approve an agreement with David Taussig & Associates, Inc. dba DTA (DTA), in the amount not to exceed $97,240, for Communities Facilities Districts (CFD) Special Tax Consulting Services for the ocV!BE Project and authorize the Public Works Director to execute and take actions necessary to implement and administer the Agreement.
DISCUSSION:
ocV!BE (the Project) is a $4 billion private investment within the Platinum Triangle that can generate more than $50 million dollars of future bonds through the current Community Facilities District (CFD No. 08-1), an annexation of the area to the existing CFD No 08-1, and a proposed overlay CFD to fund building infrastructure improvements.
DTA has provided Mello-Roos Special Tax Administration Services for the City’s CFDs since the inception of the City’s first districts in 1989 and supported the City through the dissolution of its first three districts 30 years later. Through their prior service to the City, DTA has distinguished itself as a reliable partner with extensive knowledge of the City’s needs in this area.
The administration services provided by DTA under this agreement includes professional and technical support to the City of Anaheim by providing analysis of maximum bonding capacity generated from the Project, preparation of CFD annexation process pursuant to the requirements of the Mello-Roos Act, and formation of a proposed CFD overlay. The work includes estimating the CFD revenues and expenses, determining supportable bonded indebtedness and the special tax rates required to fund desired public improvements, and estimating effective total property tax rates.
The administration services provided by DTA are essential to ensuring that all levies associated with the City’s CFDs are in compliance with current law and that the appropriate reporting is complete, accurate, and filed in a timely manner.
Agreement with David Taussig & Associates, Inc dba DTA for Community Facilities Districts (CFD) Special Tax Consulting Services for ocV!BE Project November 15, 2022
The compensation under this Agreement shall not exceed $97,240 including expenses.
IMPACT ON BUDGET:
Funds to support this agreement are provided by the developer and the Platinum Triangle CFD’s bond series and are included in the FY 2022/23 budget.
Respectfully submitted,
Rudy Emami
Director of Public Works
Attachment:
1. Agreement