REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 41
689
Exhibit I-6
Summary of Selected Comparable New Home Communities
Dublin, CA
September 2023
HOMES PRICING
MAP
KEY BUILDER FLOORPLAN TOTAL
SOLD/
UC
SALES
PACE/ MO. BEDS BATHS STORIES BASE PRICE BASE $/SF (INCENT.) NET BASE OPTIONS PREM. TOTAL AVG. HOA TAX RATE TOTAL PMT
COMMUNITY/
ADDRESS HOME SIZE (SF) MORTGAGE AMT
MORTGAGE
PMT
1 Venice Lennar Average 91 78 5.2 2,375 $1,322,594 $557 $0 $1,322,594 $0 0.0% $1,322,594 $1,058,075 $5,680 $158 1.80% $7,822 Boulevard (Dublin Crossing)Attached Duets Plan 1 31 27 3 3.5 3 2,106 $1,251,880 $594 $0 $1,251,880 $0 0.0% $1,251,880 $1,001,504 $5,376 $158 1.80% $7,412 6005 Marble Street Plan 2 33 28 4 3.5 3 2,302 $1,320,880 $574 $0 $1,320,880 $0 0.0% $1,320,880 $1,056,704 $5,673 $158 1.80% $7,812 Dublin, CA 94568 Plan 3 27 23 4 4.5 3 2,773 $1,405,880 $507 $0 $1,405,880 $0 0.0% $1,405,880 $1,124,704 $6,038 $158 1.80% $8,304 2 Grove Toll Brothers Average 122 64 2.9 1,471 $1,177,495 $801 $0 $1,177,495 $0 0.0% $1,177,495 $941,996 $5,057 $210 1.25% $6,493 Twin Oaks Townhome Boxelder 30 2 2.5 3 1,354 $979,995 $724 $0 $979,995 $0 0.0% $979,995 $783,996 $4,209 $210 1.25% $5,439 200 Mateo Miller Circle Madalena 30 3 3.5 3 1,839 $1,199,995 $653 $0 $1,199,995 $0 0.0% $1,199,995 $959,996 $5,153 $210 1.25% $6,613 San Ramon, CA Hickory 12 4 3 3 1,711 $1,229,995 $719 $0 $1,229,995 $0 0.0% $1,229,995 $983,996 $5,282 $210 1.25% $6,773 Pampas 31 4 3.5 3 2,036 $1,299,995 $639 $0 $1,299,995 $0 0.0% $1,299,995 $1,039,996 $5,583 $210 1.25% $7,147 2 Arbor Toll Brothers 40 30 1.6 2,838 $1,888,495 $665 $0 $1,888,495 $59,465 5.0% $2,042,385 $1,633,908 $8,771 $114 1.25% $11,013 Twin Oaks SFD Sable 1 10 4 3.5 3 2,846 $1,852,995 $651 $0 $1,852,995 $61,240 5.0% $2,006,885 $1,605,508 $8,619 $114 1.25% $10,823 200 Mateo Miller Circle Sable 2 10 4 3.5 3 2,860 $1,868,995 $653 $0 $1,868,995 $60,440 5.0% $2,022,885 $1,618,308 $8,687 $114 1.25% $10,909 San Ramon, CA Victoria 1 10 4 4 3 2,813 $1,904,995 $677 $0 $1,904,995 $58,640 5.0% $2,058,885 $1,647,108 $8,842 $114 1.25% $11,101 Victoria 2 10 4 4 3 2,833 $1,926,995 $680 $0 $1,926,995 $57,540 5.0% $2,080,885 $1,664,708 $8,937 $114 1.25% $11,218 3 Hillcrest Lennar Average 104 100 2.7 2,228 $1,222,880 $552 $50,000 $1,172,880 $39,042 2.0% $1,235,380 $988,304 $5,305 $450 1.33% $7,125 The Preserve Townhome Plan 1 X 3 3.5 3 1,822 $1,060,880 $582 $50,000 $1,010,880 $42,282 2.0% $1,073,380 $858,704 $4,610 $450 1.37% $6,283 70101 Via Vicenza Plan 2X 4 3 3 2,134 $1,174,880 $551 $50,000 $1,124,880 $40,002 2.0% $1,187,380 $949,904 $5,099 $450 1.34% $6,875 San Ramon, CA 94583 Plan 3 4 3.5 3 2,269 $1,286,880 $567 $50,000 $1,236,880 $37,762 2.0% $1,299,380 $1,039,504 $5,580 $450 1.32% $7,458 Plan 4 4 3.5 3 2,687 $1,368,880 $509 $50,000 $1,318,880 $36,122 2.0% $1,381,380 $1,105,104 $5,932 $450 1.30% $7,884 4 The Towns SummerHill Homes Average 136 0 0.0 1,943 $1,193,750 $614 $0 $1,193,750 $0 0.0% $1,193,750 $955,000 $5,127 $200 1.250% $6,570 City Village Townhome Town Plan 4 4 3.5 2 2,250 $1,325,000 $589 $0 $1,325,000 $0 0% $1,325,000 $1,060,000 $5,690 $200 1.250% $7,271 2400 Camino Ramon Town Plan 3/3x 4 3.5 2 1,988 $1,200,000 $604 $0 $1,200,000 $0 0% $1,200,000 $960,000 $5,153 $200 1.250% $6,604 San Ramon, CA 94583 Town Plan 2 3 3.5 2 1,817 $1,150,000 $633 $0 $1,150,000 $0 0% $1,150,000 $920,000 $4,939 $200 1.250% $6,337 Town Plan 1 3 3.5 2 1,716 $1,100,000 $641 $0 $1,100,000 $0 0% $1,100,000 $880,000 $4,724 $200 1.250% $6,070 4 The Courts SummerHill Homes Average 154 0 0.0 2,516 $1,766,667 $708 $0 $1,766,667 $0 0.0% $1,766,667 $1,413,333 $7,587 $200 1.25% $9,628 City Village SFD Court Plan 4 4 3.5 2 3,083 $1,975,000 $641 $0 $1,975,000 $0 0% $1,975,000 $1,580,000 $8,482 $200 1.250% $10,739 2400 Camino Ramon Court Plan 3X 4 3.5 2 2,714 $1,850,000 $682 $0 $1,850,000 $0 0% $1,850,000 $1,480,000 $7,945 $200 1.250% $10,072 San Ramon, CA 94583 Court Plan 3 3 3.5 2 2,710 $1,850,000 $683 $0 $1,850,000 $0 0% $1,850,000 $1,480,000 $7,945 $200 1.250% $10,072 Court Plan 2 3 2.5 2 2,235 $1,675,000 $749 $0 $1,675,000 $0 0% $1,675,000 $1,340,000 $7,193 $200 1.250% $9,138 Court Plan 1 4 3.5 2 2,176 $1,625,000 $747 $0 $1,625,000 $0 0% $1,625,000 $1,300,000 $6,979 $200 1.250% $8,872 Court Plan 1X 4 3.5 2 2,176 $1,625,000 $747 $0 $1,625,000 $0 0% $1,625,000 $1,300,000 $6,979 $200 1.250% $8,872 5 Diamond Canyon Toll Brothers Average 43 27 1.3 4,320 $3,814,995 $883 $0 $3,814,995 $109,250 5.0% $4,114,995 $3,291,996 $17,672 $225 1.13% $21,770 Standalone SFD Fortuna 5 5.5 2 4,035 $3,494,995 $866 $0 $3,494,995 $125,250 5.0% $3,794,995 $3,035,996 $16,298 $225 1.13% $20,097 1189 Lund Ranch Rd Regent 5 5.5 2 4,327 $3,924,995 $907 $0 $3,924,995 $103,750 5.0% $4,224,995 $3,379,996 $18,145 $225 1.13% $22,345 Pleasanton, CA 94566 Dresden 5 5.5 2 4,598 $4,024,995 $875 $0 $4,024,995 $98,750 5.0% $4,324,995 $3,459,996 $18,574 $225 1.13% $22,869 SOURCE: Google; New Home Source; Individual Community Websites; Sales Agent Interview; RCLCO
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 42
690
Exhibit I-7
Planned and Proposed Residential Projects
Dublin, CA
September 2023
PROJECT/
LOCATION DEVELOPER STATUS DESCRIPTION
Branaugh Property BEX Development 97 Received city council approval on March 7, 2023
The property owner has requested approval of amendment to the existing development plan.
The proposed project would establish zoning regulations and development standard for future development of up to 97 single-family detached homes and approximately 527,773 square feet of industrial uses.
The Dublin Centre “The DC” (SCS Dublin)
SCS Development
Company; Landsea
Homes
650
Received city's approval at the end of 2022;
Landsea Homes is under contract to
purchase the residential portion of Dublin
Centre
A mixed-use development consisting of 265,000 square feet of commercial space and 650 residential units of various types of housing
Dublin Fallon 580 GH PacVest, LLC 240 Application under review The overall project purpose is to construct a mixed-use development within the Tri-Valley area that results in the development of approximately 1.5 million square feet of general commercial/campus office floor space and 240 medium high density residential dwelling units Righetti Property Milton Righetti 96 Application under review The application submitted in April 2021 proposes to subdivide the Righetti property into four parcels which includes a 10-acre residential parcel for 96 housing units East Ranch Property (Formerly Croak
Property) Trumark Homes 573
As of June 2023, Trumark Homes has
requested to form Community Facilities
Districts (CFDs) to finance the maintenance
of and construction of public improvements
within the East Ranch development project.
573-unit residential project within six neighborhoods, two neighborhood parks 11.5 acres, and a two-acre Semi-Public Site. The proposed development includes seven home programs, ranging from three to ten units per acre, and designed with four architecture styles: Traditional Farmhouse, Modern Farmhouse, California Revival, and Contemporary, as shown in the project plans.
SOURCE: City of Dublin Planning Department; Buzz Buzz Home; Community Websites; RCLCO TOTAL
MARKET RATE
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 43
691
II. DEMOGRAPHIC AND PERMIT TRENDS
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 44
692
Exhibit II-1
Map of Primary Market Area
Dublin city, Pleasanton city, Livermore city, San Ramon city, Danville town, Alameda County, Contra Costa County, and California September 2023
SUBJECT SITE
Source: Esri; RCLCO
Note: Primary Market Area includes the following locations: Dublin, Pleasanton, Livermore, San Ramon, and Danville, CA
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 45
693
Exhibit II-2
Comparative Socioeconomic Characteristics
Dublin city, Pleasanton city, Livermore city, San Ramon city, Danville town, Alameda County, Contra Costa County, and California 2010-2028
CHARACTERISTIC DUBLIN CITY PLEASANTON CITY LIVERMORE CITY SAN RAMON CITY DANVILLE TOWN ALAMEDA COUNTY
CONTRA COSTA
COUNTY CALIFORNIA
POPULATION
2010 46,036 70,285 80,968 72,148 42,039 1,510,271 1,049,025 37,253,956 2020 72,885 80,004 88,066 86,586 43,630 1,685,164 1,167,789 39,564,473 2023 74,337 79,795 87,549 88,992 43,553 1,687,539 1,180,881 39,877,642 2028 75,521 80,745 87,989 91,325 43,535 1,697,701 1,193,584 40,140,276 Growth Rate (2010-2020) 4.7% 1.3% 0.8% 1.8% 0.4% 1.1% 1.1% 0.6% Growth Rate (2020-2023) 0.7% -0.1% -0.2% 0.9% -0.1% 0.0% 0.4% 0.3% Growth Rate (2023-2028) 0.3% 0.2% 0.1% 0.5% 0.0% 0.1% 0.2% 0.1% Per Capita Income (2023) $69,767 $81,548 $67,952 $76,202 $91,672 $58,982 $58,428 $45,201
HOUSEHOLDS
2010 14,913 25,245 29,134 25,284 15,420 545,138 375,364 12,577,498 2020 23,599 28,564 31,632 29,111 15,643 592,420 407,547 13,486,305 2023 24,127 28,554 31,511 29,807 15,705 595,862 412,436 13,648,502 2028 24,656 28,992 31,865 30,478 15,686 603,003 416,384 13,819,199 Growth Rate (2010-2020) 4.7% 1.2% 0.8% 1.4% 0.1% 0.8% 0.8% 0.7% Growth Rate (2020-2023) 0.7% 0.0% -0.1% 0.8% 0.1% 0.2% 0.4% 0.4% Growth Rate (2023-2028) 0.4% 0.3% 0.2% 0.4% 0.0% 0.2% 0.2% 0.2% Average Household Size (2023) 3.08 2.79 2.78 2.99 2.77 2.83 2.86 2.92 Average Household Income (2023) $214,802 $227,843 $188,751 $227,505 $254,206 $166,447 $167,205 $131,660 HOUSEHOLDS AGE DISTRIBUTION (2023)
Under 35 17.1% 12.4% 14.7% 15.3% 6.8% 18.6% 15.3% 19.3% 35-54 50.8% 38.6% 38.5% 48.2% 34.6% 38.1% 36.4% 36.3%
Over 55 32.1% 49.0% 46.8% 36.6% 58.6% 43.3% 48.3% 44.4% HOUSEHOLDS INCOME DISTRIBUTION (2023)
Under $100,000 23.8% 26.5% 32.7% 23.3% 23.5% 43.2% 42.0% 54.4% $100,000-$149,999 17.5% 13.7% 17.1% 14.1% 13.6% 16.7% 18.5% 18.1% Over $150,000 58.7% 59.8% 50.2% 62.6% 62.9% 40.1% 39.6% 27.5%
HOUSEHOLD OWNER PROPENSITY
Owner Propensity (2023) 65.8% 66.9% 72.9% 71.2% 83.3% 53.4% 66.2% 44.3% Owner Propensity (2028) 64.9% 67.0% 72.8% 72.1% 83.9% 53.3% 66.6% 43.9% Owner Propensity of Growth (2023-2028) 23.3% 71.7% 66.7% 111.8% -378.9% 44.7% 116.8% 10.1% Owner Growth Rate (2023-2028) 0.2% 0.3% 0.2% 0.7% 0.1% 0.2% 0.3% 0.1% NOTE: Primary Market Area is defined in Exhibit II-1.
Source: Esri; RCLCO
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 46
694
Exhibit II-3
Map of Primary Market Area
Dublin city, Pleasanton city, Livermore city, San Ramon city, Danville town, Alameda County, Contra Costa County, and California September 2023
SUBJECT SITE
Source: Esri; RCLCO
2023 Househlod Income Ranges
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 47
695
Exhibit II-4A
Household Distribution by Income
Dublin city, Pleasanton city, Livermore city, San Ramon city, Danville town, Alameda County, Contra Costa County, and California 2023
Source: Esri; RCLCO
4.0%
1.4%
1.4%
3.8%
6.0%
7.3%
17.5%
13.9%
44.8%
4.2%
2.7%
2.3%
3.7%
6.3%
7.2%
13.7%
14.5%
45.3%
3.4%
2.6%
2.8%
4.7%
10.4%
8.8%
17.1%
15.8%
34.4%
4.8%
1.4%
1.6%
3.2%
5.7%
6.7%
14.1%
14.9%
47.6%
4.5%
2.3%
2.3%
3.3%
4.8%
6.3%
13.6%
12.3%
50.5%
7.2%
4.4%
4.2%
6.3%
11.0%
10.2%
16.7%
12.6%
27.5%
6.2%
3.5%
4.3%
6.6%
11.0%
10.4%
18.5%
13.9%
25.6%
8.4%
5.6%
5.7%
8.4%
14.2%
12.2%
18.1%
10.7%
16.8%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
<$15,000 $15,000-$24,999 $25,000-$34,999 $35,000-$49,999 $50,000-$74,999 $75,000-$99,999 $100,000-$149,999 $150,000-$199,999 $200,000+ Dublin city Pleasanton city Livermore city San Ramon city Danville town Alameda County Contra Costa County California
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 48
696
Exhibit II-4C
Households by Age and Income
Pleasanton city
2023
z
UNDER 25 25-34 35-44 45-54 55-64 65-74 75+ TOTAL
INCOME RANGE TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT Less than $15,000 67 15% 152 5% 187 4% 153 2% 221 3% 206 5% 218 7% 1,204 4% $15,000 - $24,999 33 7% 77 2% 78 2% 57 1% 130 2% 117 3% 283 9% 775 3% $25,000 - $34,999 32 7% 90 3% 93 2% 54 1% 103 2% 103 2% 195 7% 670 2% $35,000 - $49,999 32 7% 83 3% 104 2% 73 1% 114 2% 205 5% 442 15% 1,053 4% $50,000 - $74,999 54 12% 183 6% 184 4% 130 2% 169 3% 630 14% 457 15% 1,807 6% $75,000 - $99,999 58 13% 304 10% 330 7% 289 5% 277 4% 486 11% 322 11% 2,066 7% $100,000 - $149,999 73 17% 646 21% 690 15% 691 11% 672 10% 758 17% 380 13% 3,910 14% $150,000 - $199,999 41 9% 571 18% 867 19% 998 16% 927 14% 489 11% 248 8% 4,141 15% $200,000 and above 51 12% 995 32% 2,142 46% 3,892 61% 4,000 60% 1,413 32% 435 15% 12,928 45% TOTAL 441 100% 3,101 100% 4,675 100% 6,337 100% 6,613 100% 4,407 100% 2,980 100% 28,554 100% Percent of Total 2% 11% 16% 22% 23% 15% 10% 100%
Source: Esri; RCLCO
4% 3% 2% 4%
6% 7%
14% 15%
45%
Less than
$15,000
$15,000-
$24,999
$25,000-
$34,999
$35,000-
$49,999
$50,000-
$74,999
$75,000-
$99,999
$100,000-
$149,999
$150,000-
$199,999
$200,000
and above
Income Range
Distribution of Households by Income
2%
11%
16%
22%
23%
15%
10%
Under 25 25-34 35-44 45-54 55-64 65-74 75 and over
Age of Householder
Distribution of Householders by Age
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 49
697
Exhibit II-4B
Households by Age and Income
Dublin city
2023
UNDER 25 25-34 35-44 45-54 55-64 65-74 75+ TOTAL
INCOME RANGE TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT Less than $15,000 73 12% 144 4% 194 3% 179 3% 166 4% 108 5% 95 7% 959 4% $15,000 - $24,999 24 4% 42 1% 49 1% 39 1% 68 2% 52 2% 69 5% 343 1% $25,000 - $34,999 19 3% 57 2% 61 1% 35 1% 43 1% 41 2% 72 5% 328 1% $35,000 - $49,999 50 8% 108 3% 135 2% 102 2% 112 3% 143 6% 256 19% 906 4% $50,000 - $74,999 92 15% 200 6% 212 3% 137 2% 159 4% 394 17% 258 20% 1,452 6% $75,000 - $99,999 90 15% 345 10% 423 7% 295 5% 251 6% 228 10% 131 10% 1,763 7% $100,000 - $149,999 116 19% 804 23% 1,019 16% 921 16% 687 17% 505 22% 164 12% 4,216 17% $150,000 - $199,999 57 9% 526 15% 962 15% 909 16% 583 14% 225 10% 92 7% 3,354 14% $200,000 and above 88 14% 1,289 37% 3,401 53% 3,177 55% 2,021 49% 650 28% 180 14% 10,806 45% TOTAL 609 100% 3,515 100% 6,456 100% 5,794 100% 4,090 100% 2,346 100% 1,317 100% 24,127 100% Percent of Total 3% 15% 27% 24% 17% 10% 5% 100%
Source: Esri; RCLCO
4%
1% 1%
4%
6% 7%
17%
14%
45%
Less than
$15,000
$15,000-
$24,999
$25,000-
$34,999
$35,000-
$49,999
$50,000-
$74,999
$75,000-
$99,999
$100,000-
$149,999
$150,000-
$199,999
$200,000
and above
Income Range
Distribution of Households by Income
3%
15%
27%
24%
17%
10%
5%
Under 25 25-34 35-44 45-54 55-64 65-74 75 and over
Age of Householder
Distribution of Householders by Age
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 50
698
Exhibit II-4D
Households by Age and Income
Livermore city
2023
UNDER 25 25-34 35-44 45-54 55-64 65-74 75+ TOTAL
INCOME RANGE TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT Less than $15,000 71 12% 125 3% 126 2% 124 2% 215 3% 203 4% 207 6% 1,071 3% $15,000 - $24,999 36 6% 83 2% 88 2% 84 1% 158 2% 141 3% 235 7% 825 3% $25,000 - $34,999 29 5% 90 2% 71 1% 81 1% 143 2% 151 3% 310 10% 875 3% $35,000 - $49,999 71 12% 201 5% 191 3% 142 2% 178 3% 236 5% 470 15% 1,489 5% $50,000 - $74,999 119 20% 415 10% 394 7% 363 6% 467 7% 938 20% 574 18% 3,270 10% $75,000 - $99,999 85 14% 496 12% 481 8% 378 6% 458 7% 498 11% 366 11% 2,762 9% $100,000 - $149,999 87 15% 873 22% 1,034 18% 977 15% 1,121 16% 956 21% 355 11% 5,403 17% $150,000 - $199,999 43 7% 674 17% 1,093 19% 1,237 19% 1,196 17% 466 10% 260 8% 4,969 16% $200,000 and above 50 8% 1,094 27% 2,292 40% 2,969 47% 2,954 43% 1,063 23% 424 13% 10,846 34% TOTAL 591 100% 4,051 100% 5,770 100% 6,355 100% 6,890 100% 4,652 100% 3,201 100% 31,511 100% Percent of Total 2% 13% 18% 20% 22% 15% 10% 100%
Source: Esri; RCLCO
3% 3% 3%
5%
10%
9%
17%
16%
34%
Less than
$15,000
$15,000-
$24,999
$25,000-
$34,999
$35,000-
$49,999
$50,000-
$74,999
$75,000-
$99,999
$100,000-
$149,999
$150,000-
$199,999
$200,000
and above
Income Range
Distribution of Households by Income
2%
13%
18%
20%
22%
15%
10%
Under 25 25-34 35-44 45-54 55-64 65-74 75 and over
Age of Householder
Distribution of Householders by Age
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 51
699
Exhibit II-4E
Households by Age and Income
San Ramon city
2023
UNDER 25 25-34 35-44 45-54 55-64 65-74 75+ TOTAL
INCOME RANGE TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT Less than $15,000 128 19% 222 6% 248 3% 208 3% 227 4% 228 6% 181 10% 1,442 5% $15,000 - $24,999 31 5% 53 1% 61 1% 50 1% 83 2% 59 2% 77 4% 414 1% $25,000 - $34,999 22 3% 45 1% 52 1% 42 1% 64 1% 89 3% 149 8% 463 2% $35,000 - $49,999 63 10% 140 4% 171 2% 73 1% 79 1% 163 5% 261 14% 950 3% $50,000 - $74,999 122 19% 277 7% 273 4% 150 2% 137 3% 426 12% 303 16% 1,688 6% $75,000 - $99,999 88 13% 385 10% 466 6% 254 4% 207 4% 383 11% 214 11% 1,997 7% $100,000 - $149,999 82 12% 783 20% 981 13% 675 10% 652 12% 786 22% 248 13% 4,207 14% $150,000 - $199,999 53 8% 646 17% 1,213 16% 1,167 17% 867 16% 359 10% 140 7% 4,445 15% $200,000 and above 70 11% 1,340 34% 4,190 55% 4,081 61% 3,148 58% 1,051 30% 321 17% 14,201 48% TOTAL 659 100% 3,891 100% 7,655 100% 6,700 100% 5,464 100% 3,544 100% 1,894 100% 29,807 100% Percent of Total 2% 13% 26% 22% 18% 12% 6% 100%
Source: Esri; RCLCO
5%
1% 2% 3%
6% 7%
14% 15%
48%
Less than
$15,000
$15,000-
$24,999
$25,000-
$34,999
$35,000-
$49,999
$50,000-
$74,999
$75,000-
$99,999
$100,000-
$149,999
$150,000-
$199,999
$200,000
and above
Income Range
Distribution of Households by Income
2%
13%
26%
22%
18%
12%
6%
Under 25 25-34 35-44 45-54 55-64 65-74 75 and over
Age of Householder
Distribution of Householders by Age
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 52
700
Exhibit II-4F
Households by Age and Income
Danville town
2023
UNDER 25 25-34 35-44 45-54 55-64 65-74 75+ TOTAL
INCOME RANGE TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT Less than $15,000 24 24% 38 4% 37 2% 75 2% 156 4% 184 6% 192 9% 706 4% $15,000 - $24,999 7 7% 11 1% 15 1% 44 1% 96 2% 61 2% 120 6% 354 2% $25,000 - $34,999 0 0% 14 1% 14 1% 22 1% 57 1% 75 2% 187 9% 369 2% $35,000 - $49,999 11 11% 22 2% 34 2% 31 1% 49 1% 123 4% 252 12% 522 3% $50,000 - $74,999 5 5% 24 2% 23 1% 34 1% 42 1% 272 8% 347 17% 747 5% $75,000 - $99,999 14 14% 63 6% 89 4% 52 2% 115 3% 385 12% 274 13% 992 6% $100,000 - $149,999 19 19% 210 22% 307 14% 272 9% 396 10% 678 21% 257 12% 2,139 14% $150,000 - $199,999 7 7% 159 16% 353 16% 463 15% 536 14% 328 10% 93 4% 1,939 12% $200,000 and above 11 11% 433 44% 1,385 61% 2,187 69% 2,461 63% 1,100 34% 360 17% 7,937 51% TOTAL 98 100% 974 100% 2,257 100% 3,180 100% 3,908 100% 3,206 100% 2,082 100% 15,705 100% Percent of Total 1% 6% 14% 20% 25% 20% 13% 100%
Source: Esri; RCLCO
4%
2% 2% 3% 5% 6%
14% 12%
51%
Less than
$15,000
$15,000-
$24,999
$25,000-
$34,999
$35,000-
$49,999
$50,000-
$74,999
$75,000-
$99,999
$100,000-
$149,999
$150,000-
$199,999
$200,000
and above
Income Range
Distribution of Households by Income
1%
6%
14%
20%
25%
20%
13%
Under 25 25-34 35-44 45-54 55-64 65-74 75 and over
Age of Householder
Distribution of Householders by Age
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 53
701
Exhibit II-4G
Households by Age and Income
Alameda County
2023
UNDER 25 25-34 35-44 45-54 55-64 65-74 75+ TOTAL
INCOME RANGE TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT Less than $15,000 4,658 21% 5,499 6% 5,291 5% 4,397 4% 6,880 6% 7,820 9% 8,092 13% 42,638 7% $15,000 - $24,999 2,018 9% 3,098 3% 3,052 3% 2,263 2% 4,656 4% 4,772 5% 6,123 10% 25,982 4% $25,000 - $34,999 1,799 8% 3,822 4% 3,258 3% 2,519 2% 3,441 3% 4,342 5% 5,733 9% 24,914 4% $35,000 - $49,999 2,315 11% 5,239 6% 6,056 5% 4,131 4% 4,982 5% 6,375 7% 8,434 14% 37,533 6% $50,000 - $74,999 3,599 17% 10,259 12% 10,466 9% 8,675 8% 9,438 9% 14,335 16% 8,600 14% 65,373 11% $75,000 - $99,999 2,559 12% 11,595 13% 12,477 11% 10,003 9% 9,739 9% 9,164 10% 5,302 9% 60,840 10% $100,000 - $149,999 2,677 12% 18,949 21% 20,277 17% 18,668 17% 17,455 16% 14,822 17% 6,621 11% 99,470 17% $150,000 - $199,999 1,069 5% 12,352 14% 17,491 15% 16,704 15% 14,611 13% 8,118 9% 4,837 8% 75,183 13% $200,000 and above 1,057 5% 18,226 20% 38,558 33% 43,019 39% 38,666 35% 17,640 20% 6,764 11% 163,929 28% TOTAL 21,751 100% 89,040 100% 116,927 100% 110,379 100% 109,868 100% 87,389 100% 60,507 100% 595,862 100% Percent of Total 4% 15% 20% 19% 18% 15% 10% 100%
Source: Esri; RCLCO
7%
4% 4%
6%
11% 10%
17%
13%
28%
Less than
$15,000
$15,000-
$24,999
$25,000-
$34,999
$35,000-
$49,999
$50,000-
$74,999
$75,000-
$99,999
$100,000-
$149,999
$150,000-
$199,999
$200,000
and above
Income Range
Distribution of Households by Income
4%
15%
20%
19% 18%
15%
10%
Under 25 25-34 35-44 45-54 55-64 65-74 75 and over
Age of Householder
Distribution of Householders by Age
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 54
702
Exhibit II-4H
Households by Age and Income
Contra Costa County
2023
UNDER 25 25-34 35-44 45-54 55-64 65-74 75+ TOTAL
INCOME RANGE TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT TOTAL PCT Less than $15,000 1,700 18% 3,198 6% 3,083 4% 2,807 4% 4,619 6% 4,989 7% 5,043 10% 25,439 6% $15,000 - $24,999 689 7% 1,472 3% 1,415 2% 1,217 2% 2,526 3% 3,073 4% 4,135 9% 14,527 4% $25,000 - $34,999 700 7% 2,221 4% 1,971 3% 1,824 2% 2,451 3% 3,465 5% 5,106 11% 17,738 4% $35,000 - $49,999 1,135 12% 3,331 6% 3,856 5% 2,855 4% 3,601 4% 5,358 8% 7,060 15% 27,196 7% $50,000 - $74,999 1,713 18% 6,360 12% 6,589 9% 6,053 8% 6,982 9% 10,380 15% 7,310 15% 45,387 11% $75,000 - $99,999 1,316 14% 7,034 13% 7,770 10% 6,657 9% 7,084 9% 8,024 12% 4,933 10% 42,818 10% $100,000 - $149,999 1,329 14% 12,488 23% 14,514 20% 14,176 19% 14,700 18% 13,228 19% 5,739 12% 76,174 18% $150,000 - $199,999 536 6% 7,981 15% 12,791 17% 13,152 17% 12,492 15% 7,010 10% 3,537 7% 57,499 14% $200,000 and above 358 4% 9,414 18% 22,359 30% 27,037 36% 27,564 34% 13,485 20% 5,440 11% 105,657 26% TOTAL 9,476 100% 53,499 100% 74,348 100% 75,778 100% 82,019 100% 69,012 100% 48,303 100% 412,436 100% Percent of Total 2% 13% 18% 18% 20% 17% 12% 100%
Source: Esri; RCLCO
6%
4% 4%
7%
11% 10%
18%
14%
26%
Less than
$15,000
$15,000-
$24,999
$25,000-
$34,999
$35,000-
$49,999
$50,000-
$74,999
$75,000-
$99,999
$100,000-
$149,999
$150,000-
$199,999
$200,000
and above
Income Range
Distribution of Households by Income
2%
13%
18% 18%
20%
17%
12%
Under 25 25-34 35-44 45-54 55-64 65-74 75 and over
Age of Householder
Distribution of Householders by Age
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 55
703
Exhibit II-5A
Residential Permitting Activity
Dublin
California
1990-2023
ANNUAL AVERAGE
SINGLE-FAMILY MULTIFAMILY TOTAL % MULTIFAMILY
1990-1999 119 130 249 52%
2000-2009 246 394 639 62%
2010-2022 460 248 708 35%
1990-2022 266 265 531 50%
Note: Data for 2023 is preliminary and annualized.
Source: HUD
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Multifamily 66 69 0 0 0 0 115 36 901 109 114 515 243 552 845 804 761 80 2 19 116 543 328 16 279 379 5 231 171 96 350 669 43 347 Single-Family 0 0 35 1 0 4 64 405 109 575 753 154 376 214 327 171 163 38 139 122 228 276 756 665 816 529 606 966 615 145 146 101 127 232 % Multifamily 100%100% 0% 0% 0% 0% 64% 8% 89% 16% 13% 77% 39% 72% 72% 82% 82% 68% 1% 13% 34% 66% 30% 2% 25% 42% 1% 19% 22% 40% 71% 87% 25% 60% -20%
0%
20%
40%
60%
80%
100%
120%
0 200
400
600
800
1,000
1,200
1,400
% Multifamily
Permits
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 56
704
Exhibit II-5B
Residential Permitting Activity
Pleasanton
California
1990-2023
ANNUAL AVERAGE
SINGLE-FAMILY MULTIFAMILY TOTAL % MULTIFAMILY
1990-1999 363 66 429 15%
2000-2009 175 26 200 13%
2010-2022 75 224 299 75%
1990-2022 227 121 348 35%
Note: Data for 2023 is preliminary and annualized.
Source: HUD
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Multifamily 0 21 0 20 48 0 40 108 125 300 0 100 0 0 108 0 41 5 3 0 0 0 293 727 255 958 259 92 54 78 47 76 78 114 Single-Family 96 107 371 322 489 412 512 702 389 227 368 189 259 253 237 210 136 47 32 14 42 41 89 180 78 94 72 48 42 71 72 77 63 69 % Multifamily 0% 16% 0% 6% 9% 0% 7% 13% 24% 57% 0% 35% 0% 0% 31% 0% 23% 10% 9% 0% 0% 0% 77% 80% 77% 91% 78% 66% 56% 52% 39% 50% 55% 62% -20%
0%
20%
40%
60%
80%
100%
0 200
400
600
800
1,000
1,200
% Multifamily
Permits
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 57
705
Exhibit II-5C
Residential Permitting Activity
Livermore
California
1990-2023
ANNUAL AVERAGE
SINGLE-FAMILY MULTIFAMILY TOTAL % MULTIFAMILY
1990-1999 434 40 474 8%
2000-2009 274 96 370 26%
2010-2022 125 60 185 33%
1990-2022 301 65 367 18%
Note: Data for 2023 is preliminary and annualized.
Source: HUD
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Multifamily 18 2 0 49 66 0 0 151 44 70 55 17 259 107 226 182 44 49 8 16 17 38 114 64 15 86 69 82 193 49 43 0 13 0 Single-Family 254 176 317 301 414 549 548 829 632 316 456 386 529 324 327 258 163 142 62 93 78 60 102 112 71 334 261 308 124 53 56 36 25 5 % Multifamily 7% 1% 0% 14% 14% 0% 0% 15% 7% 18% 11% 4% 33% 25% 41% 41% 21% 26% 11% 15% 18% 39% 53% 36% 17% 20% 21% 21% 61% 48% 43% 0% 34% 0% -10%
0%
10%
20%
30%
40%
50%
60%
70%
0 200
400
600
800
1,000
1,200
% Multifamily
Permits
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 58
706
Exhibit II-5D
Residential Permitting Activity
San Ramon
California
1990-2023
ANNUAL AVERAGE
SINGLE-FAMILY MULTIFAMILY TOTAL % MULTIFAMILY
1990-1999 197 71 268 27%
2000-2009 47 4 51 8%
2010-2022 26 38 65 59%
1990-2022 94 34 128 26%
Note: Data for 2023 is preliminary and annualized.
Source: HUD
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Multifamily 0 44 206 131 39 85 0 0 114 95 0 0 0 39 0 0 0 0 0 0 0 0 0 28 48 53 27 33 0 20 40 67 183 237 Single-Family 0 97 161 178 281 370 289 370 120 104 241 80 14 0 0 33 27 76 1 0 0 0 3 0 0 7 2 2 160 74 30 22 40 20 % Multifamily 0% 31% 56% 42% 12% 19% 0% 0% 49% 48% 0% 0% 0% 100% 0% 0% 0% 0% 0% 0% 0% 0% 0% 100%100%88% 93% 94% 0% 21% 57% 75% 82% 92% -20%
0%
20%
40%
60%
80%
100%
120%
0 50
100
150
200
250
300
350
400
450
500
% Multifamily
Permits
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 59
707
Exhibit II-5E
Residential Permitting Activity
Danville
California
1990-2023
ANNUAL AVERAGE
SINGLE-FAMILY MULTIFAMILY TOTAL % MULTIFAMILY
1990-1999 53 4 57 8%
2000-2009 0 0 0 0%
2010-2022 0 0 0 0%
1990-2022 20 2 22 8%
Note: Data for 2023 is preliminary and annualized.
Source: HUD
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Multifamily 19 24 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Single-Family 360 168 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 % Multifamily 5% 13% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
2%
4%
6%
8%
10%
12%
14%
0 50
100
150
200
250
300
350
400
% Multifamily
Permits
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 60
708
Exhibit II-5F
Residential Permitting Activity
Alameda County
California
1990-2023
ANNUAL AVERAGE
SINGLE-FAMILY MULTIFAMILY TOTAL % MULTIFAMILY
1990-1999 2,703 1,164 3,867 30%
2000-2009 1,789 1,988 3,776 53%
2010-2022 1,603 3,139 4,741 66%
1990-2022 2,035 1,608 3,642 44%
Note: Data for 2023 is preliminary and annualized.
Source: HUD
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Multifamily 1,07 1,50 715 570 836 524 756 2,16 2,03 1,45 983 1,48 1,05 2,33 3,06 2,81 4,64 1,82 1,15 522 848 1,35 1,37 1,69 1,82 3,19 3,29 6,66 6,09 4,43 2,77 3,65 3,60 3,03 Single-Family 1,63 1,31 2,35 1,63 2,20 2,27 2,75 4,11 3,79 4,94 3,07 1,76 2,50 2,13 2,30 1,56 1,63 1,31 780 811 879 820 1,37 1,39 1,61 1,90 2,39 2,59 1,96 1,97 1,34 1,36 1,21 1,07 % Multifamily 40% 53% 23% 26% 27% 19% 22% 34% 35% 23% 24% 46% 30% 52% 57% 64% 74% 58% 60% 39% 49% 62% 50% 55% 53% 63% 58% 72% 76% 69% 67% 73% 75% 74% 0%
10%
20%
30%
40%
50%
60%
70%
80%
0 1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
% Multifamily
Permits
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 61
709
Exhibit II-5G
Residential Permitting Activity
Contra Costa County
California
1990-2023
ANNUAL AVERAGE
SINGLE-FAMILY MULTIFAMILY TOTAL % MULTIFAMILY
1990-1999 3,206 633 3,839 16%
2000-2009 3,651 979 4,630 21%
2010-2022 1,545 774 2,320 33%
1990-2022 2,950 737 3,688 20%
Note: Data for 2023 is preliminary and annualized.
Source: HUD
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Multifamily 1,14 1,26 614 441 228 312 446 368 998 504 1,29 776 693 1,85 1,24 951 854 947 1,02 159 786 132 883 218 498 538 997 301 1,28 1,13 1,25 1,68 356 1,10 Single-Family 3,13 2,68 3,27 3,01 3,68 3,05 3,07 3,07 3,14 3,90 4,18 4,14 5,07 5,03 4,34 5,51 3,36 2,75 1,02 1,07 890 729 1,26 1,68 1,50 2,07 1,92 1,68 1,62 1,54 1,55 2,21 1,39 1,59 % Multifamily 27% 32% 16% 13% 6% 9% 13% 11% 24% 11% 24% 16% 12% 27% 22% 15% 20% 26% 50% 13% 47% 15% 41% 11% 25% 21% 34% 15% 44% 42% 45% 43% 20% 41% 0%
10%
20%
30%
40%
50%
60%
0 1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
% Multifamily
Permits
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 62
710
Exhibit II-6A
Commute Patterns - Employment Locations of Dublin Residents Dublin
2020
COMMUTE DISTANCE OF DUBLIN RESIDENTS COUNT SHARE
Total Primary Jobs 30,162 100.0%
Less than 10 miles 7,891 26.2%
10 to 24 miles 11,983 39.7%
25 to 50 miles 7,240 24.0%
Greater than 50 miles 3,048 10.1%
TOP WORK DESTINATIONS COUNT SHARE
Top Cities 30,162 100.0%
San Francisco city, CA 3,077 10.2%
Pleasanton city, CA 2,984 9.9%
San Jose city, CA 2,183 7.2%
Dublin city, CA 2,005 6.6%
Oakland city, CA 1,324 4.4%
Livermore city, CA 1,312 4.3%
Fremont city, CA 1,307 4.3%
San Ramon city, CA 1,306 4.3%
Santa Clara city, CA 820 2.7%
Hayward city, CA 752 2.5%
All Other Locations 13,092 43.4%
SOURCE: US Census On the Map; RCLCO
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 63
711
Exhibit II-6B
Commute Patterns - Employment Locations of Dublin Employees Dublin
2020
INFLOW/OUTFLOW JOB COUNTS COUNT SHARE TOP PLACE OF RESIDENCE COUNT SHARE
Employed in the Selection Area 21,249 100.0% Top Cities 21,249 100.0% Employed in the Selection Area but Living Outside 19,244 90.6% Dublin city, CA 2,005 9.4% Employed and Living in the Selection Area 2,005 9.4% Livermore city, CA 1,231 5.8% Pleasanton city, CA 1,008 4.7%
Living in the Selection Area 30,162 100.0% San Ramon city, CA 918 4.3% Living in the Selection Area but Employed Outside 28,157 93.4% San Jose city, CA 834 3.9% Living and Employed in the Selection Area 2,005 6.6% Oakland city, CA 773 3.6% Fremont city, CA 704 3.3%
Hayward city, CA 654 3.1%
San Francisco city, CA 478 2.2%
Tracy city, CA 463 2.2%
All Other Locations 12,181 57.3%
SOURCE: US Census On the Map; RCLCO
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 64
712
Exhibit II-7A
Commute Patterns - Employment Locations of Oakland Residents Oakland
2020
COMMUTE DISTANCE OF OAKLAND RESIDENTS COUNT SHARE
Total Primary Jobs 174,950 100.0%
Less than 10 miles 93,582 53.5%
10 to 24 miles 50,573 28.9%
25 to 50 miles 13,522 7.7%
Greater than 50 miles 17,273 9.9%
TOP WORK DESTINATIONS COUNT SHARE
Top Cities 174,950 100.0%
Oakland city, CA 44,386 25.4%
San Francisco city, CA 42,644 24.4%
Berkeley city, CA 7,675 4.4%
San Leandro city, CA 5,342 3.1%
Hayward city, CA 4,457 2.5%
Alameda city, CA 3,676 2.1%
San Jose city, CA 3,288 1.9%
Emeryville city, CA 3,030 1.7%
Fremont city, CA 2,429 1.4%
South San Francisco city, CA 2,287 1.3%
All Other Locations 55,736 31.9%
SOURCE: US Census On the Map; RCLCO
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 65
713
Exhibit II-7B
Commute Patterns - Employment Locations of Oakland Employees Oakland
2020
INFLOW/OUTFLOW JOB COUNTS COUNT SHARE TOP PLACE OF RESIDENCE COUNT SHARE
Employed in the Selection Area 190,064 100.0% Top Cities 190,064 100.0% Employed in the Selection Area but Living Outside 145,678 76.6% Oakland city, CA 44,386 23.4% Employed and Living in the Selection Area 44,386 23.4% San Francisco city, CA 13,492 7.1% San Leandro city, CA 7,002 3.7%
Living in the Selection Area 174,950 100.0% Berkeley city, CA 6,064 3.2% Living in the Selection Area but Employed Outside 130,564 74.6% Alameda city, CA 5,944 3.1% Living and Employed in the Selection Area 44,386 25.4% Hayward city, CA 5,759 3.0% Richmond city, CA 4,459 2.3%
San Jose city, CA 4,213 2.2%
Castro Valley CDP, CA 3,642 1.9%
Concord city, CA 3,021 1.6%
All Other Locations 92,082 48.4%
SOURCE: US Census On the Map; RCLCO
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 66
714
Exhibit II-8A
Commute Patterns - Employment Locations of San Francisco Residents San Francisco
2020
COMMUTE DISTANCE OF SF RESIDENTS COUNT SHARE
Total Primary Jobs 396,873 100.0%
Less than 10 miles 271,576 68.4%
10 to 24 miles 49,174 12.4%
25 to 50 miles 46,880 11.8%
Greater than 50 miles 29,243 7.4%
TOP WORK DESTINATIONS COUNT SHARE
Top Cities 396,873 100.0%
San Francisco city, CA 241,410 60.8%
Oakland city, CA 13,492 3.4%
South San Francisco city, CA 10,417 2.6%
San Jose city, CA 7,247 1.8%
Palo Alto city, CA 6,692 1.7%
Menlo Park city, CA 6,138 1.5%
Mountain View city, CA 6,091 1.5%
San Mateo city, CA 5,338 1.3%
Redwood City city, CA 5,084 1.3%
Los Angeles city, CA 4,584 1.2%
All Other Locations 90,380 22.8%
SOURCE: US Census On the Map; RCLCO
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 67
715
Exhibit II-8B
Commute Patterns - Employment Locations of San Francisco Employees San Francisco
2020
INFLOW/OUTFLOW JOB COUNTS COUNT SHARE TOP PLACE OF RESIDENCE COUNT SHARE
Employed in the Selection Area 669,328 100.0% Top Cities 669,328 100.0% Employed in the Selection Area but Living Outside 427,918 63.9% San Francisco city, CA 241,410 36.1% Employed and Living in the Selection Area 241,410 36.1% Oakland city, CA 42,644 6.4% Daly City city, CA 20,148 3.0%
Living in the Selection Area 396,873 100.0% San Jose city, CA 17,353 2.6% Living in the Selection Area but Employed Outside 155,463 39.2% Berkeley city, CA 11,023 1.6% Living and Employed in the Selection Area 241,410 60.8% South San Francisco city, CA 10,446 1.6% San Mateo city, CA 10,093 1.5%
Los Angeles city, CA 9,639 1.4%
Richmond city, CA 8,572 1.3%
Alameda city, CA 8,152 1.2%
All Other Locations 289,848 43.3%
SOURCE: US Census On the Map; RCLCO
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 68
716
III. ECONOMIC TRENDS
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 69
717
Exhibit III-1A
Historical and Forecasted Non-Agricultural Employment, Households, and Population Oakland-Hayward-Berkeley, CA MD
1993-2027
(in Thousands)
EMPLOYMENT HOUSEHOLDS POPULATION
YEAR
TOTAL (IN
000'S)
ANNUAL
CHANGE
PERCENT
CHANGE
TOTAL (IN
000'S)
ANNUAL
CHANGE
PERCENT
CHANGE
TOTAL (IN
000'S)
ANNUAL
CHANGE
PERCENT
CHANGE JOBS/HH HH SIZE
1993 885 -- -- 812 -- -- 2,192 -- -- 1.1 2.70
1994 888 3 0.3% 818 6 0.7% 2,204 12 0.5% 1.1 2.69
1995 909 21 2.3% 825 7 0.8% 2,219 15 0.7% 1.1 2.69
1996 928 19 2.1% 832 8 0.9% 2,243 25 1.1% 1.1 2.70
1997 960 32 3.5% 843 11 1.3% 2,283 40 1.8% 1.1 2.71
1998 987 27 2.8% 856 12 1.5% 2,328 44 1.9% 1.2 2.72
1999 1,017 30 3.0% 865 9 1.1% 2,364 37 1.6% 1.2 2.73
2000 1,052 35 3.5% 873 8 0.9% 2,403 39 1.6% 1.2 2.75
2001 1,063 10 1.0% 884 11 1.2% 2,440 38 1.6% 1.2 2.76
2002 1,049 -14 -1.3% 885 2 0.2% 2,442 2 0.1% 1.2 2.76
2003 1,038 -11 -1.0% 886 0 0.0% 2,442 0 0.0% 1.2 2.76
2004 1,038 1 0.1% 885 0 0.0% 2,438 -4 -0.1% 1.2 2.75
2005 1,048 10 0.9% 890 5 0.5% 2,441 2 0.1% 1.2 2.74
2006 1,063 15 1.4% 893 4 0.4% 2,445 5 0.2% 1.2 2.74
2007 1,068 5 0.5% 904 10 1.1% 2,465 20 0.8% 1.2 2.73
2008 1,055 -13 -1.3% 916 12 1.3% 2,501 36 1.4% 1.2 2.73 2009 994 -60 -5.7% 922 6 0.7% 2,536 36 1.4% 1.1 2.75
2010 972 -23 -2.3% 924 2 0.2% 2,566 29 1.1% 1.1 2.78
2011 981 10 1.0% 935 11 1.2% 2,596 30 1.2% 1.1 2.78
2012 1,009 28 0 949 14 1.5% 2,632 36 1.4% 1.1 2.77
2013 1,037 28 2.7% 965 16 1.7% 2,674 42 1.6% 1.1 2.77
2014 1,062 25 2.4% 981 16 1.6% 2,716 42 1.6% 1.1 2.77
2015 1,097 34 3.2% 992 11 1.1% 2,757 41 1.5% 1.1 2.78
2016 1,134 37 3.4% 1,003 11 1.1% 2,789 32 1.2% 1.1 2.78 2017 1,161 27 2.4% 1,006 3 0.3% 2,811 22 0.8% 1.2 2.79
2018 1,180 20 1.7% 1,012 6 0.6% 2,831 20 0.7% 1.2 2.80
2019 1,189 9 0.8% 1,022 10 1.0% 2,846 16 0.6% 1.2 2.78
2020 1,097 -93 -7.8% 1,013 -9 -0.9% 2,846 -1 0.0% 1.1 2.81 2021 1,131 34 3.1% 995 -18 -1.8% 2,803 -42 -1.5% 1.1 2.82 2022 1,178 47 4.2% 1,006 11 1.1% 2,805 1 0.1% 1.2 2.79
2023 (f) 1,196 18 1.5% 1,011 5 0.5% 2,821 17 0.6% 1.2 2.79 2024 (f) 1,206 10 0.9% 1,018 7 0.7% 2,835 13 0.5% 1.2 2.79 2025 (f) 1,219 12 1.0% 1,025 7 0.7% 2,846 11 0.4% 1.2 2.78 2026 (f) 1,225 6 0.5% 1,030 6 0.5% 2,857 10 0.4% 1.2 2.77 2027 (f) 1,229 4 0.3% 1,035 5 0.5% 2,867 10 0.4% 1.2 2.77 Note: (f) denotes forecasted figure.
Source: Moody's Analytics; RCLCO
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 70
718
Exhibit III-1B
Historical and Forecasted Non-Agricultural Employment, Household, and Population Growth Rates Oakland-Hayward-Berkeley, CA MD
1994-2027
Note: (f) denotes forecasted figure.
Source: Moody's Analytics; RCLCO
-10%
-8%
-6%
-4%
-2%
0%
2%
4%
6%
Annual Growth Rate
Employment Households Population
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 71
719
Exhibit III-2
Historical and Forecasted Non-Agricultural Employment Growth Rates Oakland-Hayward-Berkeley, CA MD and United States
1994-2027
Note: (f) denotes forecasted figure.
Source: Moody's Analytics; RCLCO
-10%
-8%
-6%
-4%
-2%
0%
2%
4%
6%
Annual Growth Rate
Oakland-Hayward-Berkeley, CA MD United States
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 72
720
Exhibit III-3
Historical and Forecasted Non-Agricultural Employment
Oakland-Hayward-Berkeley, CA MD
1993-2027
(in Thousands)
Note: (f) denotes forecasted figure.
Source: Moody's Analytics; RCLCO
0 200
400
600
800
1,000
1,200
1,400
Employment (000s)
Total
Historical Moody's Projection
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 73
721
Exhibit III-3
Historical and Forecasted Non-Agricultural Employment
Oakland-Hayward-Berkeley, CA MD
1993-2027
(in Thousands)
Note: (f) denotes forecasted figure.
Source: Moody's Analytics; RCLCO
-100
-80
-60
-40
-20
0 20
40 60
Employment Growth (000s)
Growth
Historical Moody's Projection Historical Avg. Annual Moody's Avg. Projection
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 74
722
Exhibit III-3
Historical and Forecasted Non-Agricultural Employment
Oakland-Hayward-Berkeley, CA MD
1993-2027
(in Thousands)
Note: (f) denotes forecasted figure.
Source: Moody's Analytics; RCLCO
-10%
-8%
-6%
-4%
-2%
0%
2%
4%
6%
Employment Growth Rate
Growth Rate
Historical Moody's Projection Historical Avg. Moody's Projection Avg.
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 75
723
Exhibit III-4
Historical and Forecasted Non-Agricultural Employment by Industry Oakland-Hayward-Berkeley, CA MD
1993-2027
(in Thousands)
Note: (f) denotes forecasted figure.
Source: Moody's Analytics; RCLCO
0 50
100
150
200
250
Total Employment (000s)
Edu. & Health Services
Trade, Transp. & Utilities
Prof. & Business Services
Government
Leisure & Hospitality
Manufacturing
Construction
Financial Activities
Other Services
Information
Natural Resources
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 76
724
IV. FOR-SALE HOME SALES TRENDS
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 77
725
Exhibit IV-1A
Residential Listings and Sales by Size Range Built 2005 or Later City of Dublin
As of September 2023
DUBLIN LISTINGS
Single-Family
< 1,000 SF 0 0% 0 0%
1,000 - 1.500 SF 0 0% 0 0%
1,500 - 2,000 SF 0 0% 12 11%
2,000 - 2,500 SF 3 27% 28 27%
2,500 - 3,000 SF 4 36% 26 25%
3,000+ SF 4 36% 39 37%
Total 11 100% 105 100%
Average Size
Average Price
Average Price per SF
Attached/Condo
< 1,000 SF 0 0% 2 2%
1,000 - 1.500 SF 5 42% 27 20%
1,500 - 2,000 SF 2 17% 55 42%
2,000 - 2,500 SF 2 17% 42 32%
2,500 - 3,000 SF 2 17% 5 4%
3,000+ SF 1 8% 1 1%
Total 12 100% 132 100%
Average Size
Average Price
Average Price per SF
ALL
< 1,000 SF 0 0% 2 1%
1,000 - 1.500 SF 5 22% 27 11%
1,500 - 2,000 SF 2 9% 67 28%
2,000 - 2,500 SF 5 22% 70 30%
2,500 - 3,000 SF 6 26% 31 13%
3,000+ SF 5 22% 40 17%
Total 23 100% 237 100%
Average Size
Average Price
Average Price per SF
SOURCE: Redfin; RCLCO
NOTE: Listings data as of April 30, 2021; Sales data from April 30, 2020 to April 30, 2021 $1,503,993 $1,421,046
$594 $630
DUBLIN SALES (PAST 12 MONTHS)
2,490 2,206
3,097
$1,981,722
$640
2,705
$1,919,804
$710
1,935 1,809
$1,066,075 $1,024,307
$551 $566
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 78
726
Exhibit IV-1B
Residential Listings and Sales by Price Range Built 2005 or Later City of Dublin
As of September 2023
DUBLIN LISTINGS
Single-Family
< $600,000 0 0% 0 0%
$600K - $1M 0 0% 1 1%
$1M - $1.4M 1 9% 19 18%
$1.4M - $1.8M 5 45% 28 27%
$1.8M - $2.2M 2 18% 26 25%
$2.2M - $2.6M 1 9% 18 17%
$2.6M+ 2 18% 13 12%
Total 11 100% 105 100%
Average Size
Average Price
Average Price per SF
Attached/Condo
< $600,000 1 8% 3 2%
$600K - $1M 5 42% 46 35%
$1M - $1.4M 5 42% 82 62%
$1.4M - $1.8M 1 8% 1 1%
$1.8M - $2.2M 0 0% 0 0%
$2.2M - $2.6M 0 0% 0 0%
$2.6M+ 0 0% 0 0%
Total 12 100% 132 100%
Average Size
Average Price
Average Price per SF
ALL
< $600,000 1 4% 3 1%
$600K - $1M 5 22% 47 20%
$1M - $1.4M 6 26% 101 43%
$1.4M - $1.8M 6 26% 29 12%
$1.8M - $2.2M 2 9% 26 11%
$2.2M - $2.6M 1 4% 18 8%
$2.6M+ 2 9% 13 5%
Total 23 100% 237 100%
Average Size
Average Price
Average Price per SF
SOURCE: Redfin; RCLCO
DUBLIN SALES (PAST 12 MONTHS)
3,097 2,705
$1,981,722 $1,919,804
$640 $710
1,935 1,809
$1,066,075 $1,024,307
NOTE: Listings data as of April 30, 2021; Sales data from April 30, 2020 to April 30, 2021 $594 $630
$551 $566
2,490 2,206
$1,503,993 $1,421,046
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 79
727
Exhibit IV-1C
Residential Listings and Sales by Size Range Built 2005 or Later Tri-Valley Area
As of September 2023
TRI-VALLEY LISTINGS
Single-Family
< 1,000 SF 0 0% 1 0%
1,000 - 1.500 SF 0 0% 3 1%
1,500 - 3,000 SF 5 8% 45 13%
3,000 - 3,500 SF 5 8% 71 21%
3,500 - 4,000 SF 9 15% 62 18%
4,000+ SF 40 68% 160 47%
Total 59 100% 342 100%
Average Size
Average Price
Average Price per SF
Attached/Condo
< 1,000 SF 1 4% 7 3%
1,000 - 1.500 SF 8 30% 46 19%
1,500 - 3,000 SF 7 26% 107 45%
3,000 - 3,500 SF 4 15% 71 30%
3,500 - 4,000 SF 6 22% 5 2%
4,000+ SF 1 4% 1 0%
Total 27 100% 237 100%
Average Size
Average Price
Average Price per SF
ALL
< 1,000 SF 1 1% 8 1%
1,000 - 1.500 SF 8 9% 49 8%
1,500 - 3,000 SF 12 14% 152 26%
3,000 - 3,500 SF 9 10% 142 25%
3,500 - 4,000 SF 15 17% 67 12%
4,000+ SF 41 48% 161 28%
Total 86 100% 579 100%
Average Size
Average Price
Average Price per SF
SOURCE: Redfin; RCLCO
NOTE: Listings data as of April 30, 2021; Sales data from April 30, 2020 to April 30, 2021 3,466 2,570
$2,785,125 $1,712,455
$770 $649
1,915 1,784
$1,163,546 $1,009,360
$608 $566
$845 $706
TRI-VALLEY SALES (PAST 12 MONTHS)
4,176 3,114
$3,527,204 $2,199,688
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 80
728
Exhibit IV-1D
Residential Listings and Sales by Price Range Built 2005 or Later Tri-Valley Area
As of September 2023
TRI-VALLEY LISTINGS
Single-Family
< $600,000 0 0% 0 0%
$600K - $1M 1 2% 9 3%
$1M - $1.4M 4 7% 45 13%
$1.4M - $1.8M 8 13% 74 22%
$1.8M - $2.2M 9 15% 78 23%
$2.2M - $2.6M 4 7% 62 18%
$2.6M+ 34 57% 74 22%
Total 60 100% 342 100%
Average Size
Average Price
Average Price per SF
Attached/Condo
< $600,000 1 4% 4 2%
$600K - $1M 11 41% 98 41%
$1M - $1.4M 10 37% 131 55%
$1.4M - $1.8M 2 7% 4 2%
$1.8M - $2.2M 2 7% 0 0%
$2.2M - $2.6M 1 4% 0 0%
$2.6M+ 0 0% 0 0%
Total 27 100% 237 100%
Average Size
Average Price
Average Price per SF
ALL
< $600,000 1 1% 4 1%
$600K - $1M 12 14% 107 18%
$1M - $1.4M 14 16% 176 30%
$1.4M - $1.8M 10 11% 78 13%
$1.8M - $2.2M 11 13% 78 13%
$2.2M - $2.6M 5 6% 62 11%
$2.6M+ 34 39% 74 13%
Total 87 100% 579 100%
Average Size
Average Price
Average Price per SF
SOURCE: Redfin; RCLCO
NOTE: Listings data as of April 30, 2021; Sales data from April 30, 2020 to April 30, 2021 3,474 2,570
$2,793,655 $1,712,455
$771 $649
1,915 1,784
$1,163,546 $1,009,360
$608 $566
$845 $706
TRI-VALLEY SALES (PAST 12 MONTHS)
4,176 3,114
$3,527,204 $2,199,688
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 81
729
Exhibit IV-2
Residential Home Sale Capture Rates
City of Dublin in Relation to the Tri-Valley Area
Homes Built Since 2005
September 2022 - September 2023
CITY OF DUBLIN TRI-VALLEY
DUBLIN CAPTURE OF TRI-
VALLEY
< $600,000 3 4 75.0%
$600K - $1M 47 107 43.9%
$1M - $1.4M 101 176 57.4%
$1.4M - $1.8M 29 78 37.2%
$1.8M - $2.2M 26 78 33.3%
$2.2M - $2.6M 18 62 29.0%
$2.6M+ 13 74 17.6%
Total 237 579 40.9%
SOURCE: Redfin; RCLCO
3 47
101
29 26
18 13
4 107
176
78 78
62 74
0 20
40 60
80 100
120
140
160
180
200
< $600,000 $600K - $1M $1M - $1.4M $1.4M - $1.8M $1.8M - $2.2M $2.2M - $2.6M $2.6M+ Dublin Tri-Valley
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 82
730
Exhibit IV-3
Single-Family Home/Condo/Townhome Resales Built 2005 or Later Tri-Valley Area
September 2022 - September 2023
SOURCE: Redfin; RCLCO
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
500 1,500 2,500 3,500 4,500 5,500
Sale Price
Unit Size (SF)
Dublin
Pleasanton
San Ramon
Livermore
Danville
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 83
731
Exhibit IV-4A
Monthly Median Home Price
Existing Single-Family Detached Homes
Contra Costa County, Alameda County, and California
January 1990-August 2023
SOURCE: California Association of Realtors; RCLCO
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
California
Contra Costa
Alameda County
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 84
732
Exhibit IV-4B
Home Value
Cities in Tri-Valley Area
January 2010-August 2023
SOURCE: Zillow; RCLCO
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000Home Value
Dublin
Pleasanton
Livermore
San Ramon
Danville
Tri-Valley PMA Average
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 85
733
V. SITE ANALYSIS
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 86
734
Exhibit V-1A
Regional Map
Boulevard (Dublin Crossing)
Dublin, CA and San Francisco Bay Area
September 2023
SUBJECT SITE -- Dublin Crossing Master-Planned Community, Dublin, California SOURCE: Google; RCLCO
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 87
735
Exhibit V-1B
Map of Subject Site Area
Boulevard (Dublin Crossing)
Dublin, CA
September 2023
SOURCE: Google; RCLCO
Subject Site:
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 88
736
Exhibit V-1C
Map of Surrounding Uses
Boulevard (Dublin Crossing)
Dublin, CA
September 2023
SOURCE: Google; RCLCO
Dublin Station
Dublin
Elementary
Frederiksen
Elementary
Dublin High
School
Dublin
Place/Retail
Uses
Fire Station
Office/
Hostpitality
Stoneridge
Shopping
Center
Pleasanton Medical
Offices (Kaiser
Permanente)
Fairlands
Elementary
Dublin San
Ramon
Services
District
Val Vista
Park
Retail
Retail/
Hostpitality
Kaiser
Permanente
Oracle
Office/
Industrial
Retail
Office
Metro
580
Retail
Retail
Rosewood
Commons
Business
Center
Thomas S. Hart
Middle School
Fire Station
Owens
Plaza
Park
Misc. Retail
Stoneridge
Business
Center
Stanford Health Care:
Valley Care Medical
Center
Car
Dealerships
Sutter
Health
Subject Site:
Boulevard (Dublin
Crossing)
Alameda County Jail
Office/
Hostpitality
Camp Parks Army
Facility
Federal
Correctional
Insitution
Public Works
Equipment
Repair
County Sheriffs
Dept./Highway
Patrol & Fire Station
Emerald Glen
Park
James Dougherty
Elementary
Retail
Dublin
Corporate
Center
Hacienda
Crossings
Persimmon
Place
Industrial/
Office Uses
Sports
Grounds
Library/
Public
Retail Uses
Valley High
School
Wells MIddle
School
Superior Court of
Alameda County
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 89
737
Exhibit V-2
Site Assessment
Boulevard (Dublin Crossing)
Dublin, CA
September 2023
FACTOR NOTES
Community Execution
Amenities
Surrounding Uses
Visibility/Access
Commute
Retail
Schools
Topography/Aesthetics
SOURCE: RCLCO
The site is flat, featuring no discernible changes in view or topography. The site will, however, have to mitigate the negative perception of being located in close proximity to the Federal Correctional Institution.
The community is located along Dublin Boulevard, the primary East-West road in the city, and is located between two freeway on-/off-ramps from I-580.
Phase 5 of Boulevard is expected to maintain a high level of execution consistent with what has been delivered thus far inprevious phases, and similar, if not superior, to other top-performing planned communities in the area. Moreover, Phase5 benefits from an amenity package including a 30 net-acre Community Park, five net-acres of Neighborhood Parks, and a school site.
Phase 5 is the fifth development phase of the overall multi-phased master-planned community of Boulevard. Phase 5 is planned to comprise 244 units built by Brookfield and Lennar, with 182 attached units and 62 detached units. Phase 1, 2, 3, and 4 of Boulevard comprises 1,514 units, and as of July 2022, all of the units from Phase 1 and Phase 2 have been sold. Phase 3 has 113 units remaining to be sold and Phase 4 has 62 units remaining.
In 2026, local public schools within Boulevard’s school district will include Dublin High School as well as a new TK-8 school that will be developed within the community. The existing schools in Dublin Unified School District generally achieve above average GreatSchools ratings than the schools in Alameda County and the Oakland MD as a whole, and achieve relatively similar scores to the schools in surrounding cities, such as Pleasanton and San Ramon.
Boulevard is located in the center of Dublin. To the south is Dublin Station, a high-density, low-rise residential community featuring both rental and for-sale products. To the east and west is residential and commercial development.
The site is located within half a mile of the Dublin/Pleasanton BART station which connects the area to the broader San Francisco Bay Area. The site is also conveniently located approximately one mile from two on-/off-ramps to Interstate-580 which provides access to the East Bay and the broader region. On-/off-Ramps to Interstate-680, which provides access north to Walnut Creek and south to San Jose, are accessible within 2 miles of the site.
The site is located within a mile of Hacienda Crossings, a power center featuring a variety of entertainment, restaurants, and shopping destinations such as and IMAX and Bed Bath & Beyond. Persimmon Place, a relatively new retail shopping center, is located adjacent to Hacienda Crossings and is anchored by Whole Foods, Nordstrom Rack, and Home Goods. More neighborhood and community retail centers are located within two miles of the community, including Tivoli Plaza which is expected to deliver in August 2022. In addition, Stoneridge Shopping Center, a Class A regional mall with 1.3 million square feet of retail, is located approximately 2.5 miles away. Several power centers anchored by a Wal-Mart or a Target are also located both to the east and west. Additionally, IKEA has been approved for building a 317,000 square foot store just south of Boulevard in 2018. However, the plan remains in limbo and the project is on hold as retail environments have changed in light of the COVID-19 pandemic. The City of Dublin is yet to provide an update on IKEAS’s plans going forward.
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 90
738
Exhibit V-3A
Map of Local Schools
Dublin, CA
September 2023
MAP GREAT SCHOOLS
KEY SCHOOL RATING1
1 James Dougherty 8
2 John Green 8
3 Dublin 7
4 Frederiksen 8
5 Harold William Kolb 7
6 Murray 7
7 J.M. Amador 8
8 Cottonwood Creek 8
9 Eleanor Murray Fallon 7
10 Wells 5
11 Dublin 9
12 Emerald NA
Elementary School
Middle School
High School
SUBJECT SITE -- Dublin Crossing
1 Great Schools Rating is a 10-point ranking systme; API Score is a 1,000-point ranking system.
SOURCE: Greatschools.org; RCLCO
NOTE: GreatSchools is a non-profit organization with profiles of more than 200,000 preK-12 schools – public, public charter and private – and over one million reviews from parents, teachers and students sharing information about the schools.
1 2
3 4
5 6
9 10
7 8
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 91
739
Exhibit V-3B
Aggregate School Rankings by City
Dublin, Livermore, Pleasanton, San Ramon, and Danville
September 2023
DUBLIN LIVERMORE PLEASANTON SAN RAMON DANVILLE
GREAT SCHOOLS
RATING 1
GREAT SCHOOLS
RATING 1
GREAT SCHOOLS
RATING 1
GREAT SCHOOLS
RATING 1
GREAT SCHOOLS
RATING 1
Elementary School 7.6 6.2 6.3 7.3 7.4
Middle School 7.5 4.7 6.7 6.3 7.3
High School 7.0 7.0 7.0 9.5 9.0
Average 7.4 5.9 6.7 7.7 7.9
1 Great Schools Rating is out of 10
SOURCE: Greatschools.org; RCLCO
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 92
740
Exhibit V-3C
School Rankings by City
Dublin, Livermore, Pleasanton, and San Ramon
September 2023
DUBLIN LIVERMORE PLEASANTON SAN RAMON DANVILLE
SCHOOL
GREAT
SCHOOLS
RATING 1 SCHOOL
GREAT
SCHOOLS
RATING 1 SCHOOL
GREAT
SCHOOLS
RATING 1 SCHOOL
GREAT
SCHOOLS
RATING 1 SCHOOL
GREAT
SCHOOLS
RATING 1
ELEMENTARY SCHOOL
John Green 8 Sunset 8 Vintage Hills 7 Bollinger Canyon 9 John Baldwin 8 Harold William Kolb 7 Emma C. Smith 8 Henry P. Mohr 7 Golden View 8 Sycamore Valley 8 J.M. Amador 8 Lawrence 9 Phoebe Apperson Hearst 6 Coyote Creek 8 Tassajara Hills 7 Dublin 7 Jackson Avenue 7 Fairlands 6 Hidden Hills 8 Montair 9 James Dougherty 8 Joe Michell 2 5 Walnut Grove 7 Live Oak 6 Vista Grande 8 Frederiksen 8 Rancho Los Positas 7 Donlon 5 Country Club 7 Creekside 6 Murray 7 Altamont Creek 6 Lydiksen 7 Walt Disney 9 Green Valley 5 Marylin Avenue 4 Valley View 8 Montevideo 7 Greenbrook 8 Arroyo Seco 6 Alisal 4 Quail Run 6
Leo R. Croce 4 Neil A. Armstrong 7
Junction Avenue 2 4 Bella Vista 6
Twin Creeks 7
AVERAGE 7.6 6.2 6.3 7.3 7.4
MIDDLE SCHOOL
Eleanor Murray Fallon 7 William Mendenhall 5 Thomas S. Hart 7 Pine Valley 3 Los Cerros 8 Cottonwood Creek 8 Andrew N. Christensen 5 Harvest Park 7 Windemere Ranch 8 Charlotte Wood 6 East Avenue 4 Pleasanton 6 Gale Ranch 7 Diablo Vista 8
Iron Horse 7
AVERAGE 7.5 4.7 6.7 6.3 7.3
HIGH SCHOOL
Dublin 9 Granada 6 Foothill 7 Dougherty Valley 10 Monte Vista 8 Wells 5 Livermore 8 Amador Valley 7 California 9 San Ramon Valley 10 AVERAGE 7.0 7.0 7.0 9.5 9.0
1 Great Schools Rating is out of 10.
2 Includes grades K-8.
SOURCE: Greatschools.org; RCLCO
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 93
741
VI. DEMAND ANALYSIS
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 94
742
Exhibit VI-1
Boulevard (Dublin Crossing)
Absorption Potential
2023-2028
UNDER $1,000,000 $1,400,000 $1,800,000
- - -
$1,000,000 $1,400,000 $1,800,000 $2,200,000 $2,200,000+ TOTAL Oakland Metropolitan Division Annual For-Sale Demand Potential 23,362 5,911 3,207 1,378 2,791 36,649 Tri-Valley Capture of Oakland MD Homes 1 17% 17% 17% 17% 17% 17% Tri-Valley Annual Home Demand Potential 3,981 1,007 546 235 476 6,245 Dublin Capture of Tri-Valley Home Demand Potential 2 45% 57% 37% 33% 20% 44% Dublin Annual Home Demand Potential 1,793 578 203 78 95 2,748 Secondary Demand Potential 3 10% 10% 10% 10% 10% 10%
Dublin Annual Demand Potential, Including Secondary Demand 1,992 642 226 87 106 3,053 Dublin Distribution of Annual Demand Potential 65% 21% 7% 3% 3% 100% SCENARIO 1
Boulevard (Dublin Crossing) Capture of Dublin 4 0.0% 10.0% 17.5% 7.5% 0.0% 3.6% Boulevard (Dublin Crossing) Annual Absorption Potential 0 64 40 7 0 110 SCENARIO 2
Boulevard (Dublin Crossing) Capture of Dublin 4 0.0% 12.5% 20.0% 12.5% 0.0% 4.6% Boulevard (Dublin Crossing) Annual Absorption Potential 0 80 45 11 0 142 1 See Exhibit VI-2.
2 See Exhibit IV-2.
3 Represents potential demand from home buyers that fall outside of the parameters in Exhibit VI-3A.
SOURCE: Real Estate Economics; RCLCO
4 Capture rates are based on the estimated relationship between product offered in Boulveard (Dublin Crossing) and number of competitive projects in Dublin. Scenario 2 assumes that Boulevard (Dublin Crossing) can capture a slightly higher share of the market depth as all uses in the master plan stabilize.
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 95
743
Exhibit VI-2
Boulevard (Dublin Crossing)
Capture Rate Analysis
Tri-Valley Area and Oakland Metropolitan Division
FACTORS TRI-VALLEY AREA
OAKLAND METRO
DIVISION WEIGHT
TOTAL HOUSEHOLDS, 2023
Total 129,704 1,008,298
Percent Tri-Valley Capture 12.9% 100% 25%
HOUSEHOLD GROWTH, 2010-2023
Total 19,432 87,796
Percent Tri-Valley Capture 22.1% 100% 25%
PROJECTED HOUSEHOLD GROWTH, 2023-2028
Total 1,973 11,089
Percent Tri-Valley Capture 17.8% 100% 25%
OWNER HOUSEHOLDS, 2023
Total 92,265 591,195
Percent Tri-Valley Capture 15.6% 100% 15%
SINGLE-FAMILY PERMITS, 2017-2022
Total 3,075 20,478
Percent Tri-Valley Capture 15.0% 100% 10%
WEIGHTED AVERAGE CAPTURE 17.0%
SOURCE: ESRI Business Analyst; HUD; RCLCO
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 96
744
Exhibit VI-3A
Boulevard (Dublin Crossing)
Annual For-Sale Demand Potential
2023-2028
PMA HOUSEHOLDS TARGET
TARGET MARKET GROUPS TOTAL UNDER AGE 55 TOTAL
2023 Total Households 1
1,008,298 1,008,289
2028 Total Households 1
1,019,387 1,019,378
Average Annual Household Growth 2023-2028 1
2,218 2,218
$0K $231K $319K $406K $494K $581K $0K $199K $273K $348K $422K $496K QUALIFYING INCOME RANGE $231K $319K $406K $494K $581K + $199K $273K $348K $422K $496K + $0K $1M $1.4M $1.8M $2.2M $2.6M+ $0K $1M $1.4M $1.8M $2.2M $2.6M+ AFFORDABLE MORTGAGE 2
$1M $1.4M $1.8M $2.2M $2.6M $1M $1.4M $1.8M $2.2M $2.6M EXISTING HOUSEHOLD TURNOVER 1,008,298 551,194 1,008,289 Income Qualified Households 1
% of Total 76% 12% 6% 2% 1% 4% 76% 11% 5% 3% 1% 4% 100% Income Qualified Households 417,125 64,113 32,372 12,668 4,652 20,264 348,894 49,916 23,165 12,369 6,561 16,189 1,008,289 Owner Households 3
% of Income Qualified Households 39% 71% 79% 81% 86% 86% 67% 88% 93% 94% 94% 94% 59% Income Qualified Owner Households 162,465 45,819 25,574 10,260 4,018 17,436 234,398 44,018 21,542 11,639 6,146 15,225 598,541 Annualized Potential 3
% Annual Turnover 10% 10% 10% 10% 10% 10% 3% 3% 3% 3% 3% 3% 6% Annual Income and HH Size Qualified Renter Households 16,257 4,585 2,559 1,027 402 1,745 5,907 1,109 543 293 155 384 34,966 ANNUAL HOUSEHOLD GROWTH 2,218 0 2,218
Income Qualified Household Growth 1
% of Total 76% 12% 6% 2% 1% 4% 76% 11% 5% 3% 1% 4% 100% Income Qualified Households From Growth -208 -32 -16 -6 -2 -10 1,903 272 126 67 36 88 2,218 Owner Households 3
% of Income Qualified Households 39% 71% 79% 81% 86% 86% 67% 88% 93% 94% 94% 94% 76% Income Qualified Owner Households From Growth -81 -23 -13 -5 -2 -9 1,278 240 117 63 34 83 1,683
TOTAL ANNUAL QUALIFIED HOUSEHOLDS
Annualized Potential from Existing Households 16,257 4,585 2,559 1,027 402 1,745 5,907 1,109 543 293 155 384 34,966 Potential from Annual Household Growth -81 -23 -13 -5 -2 -9 1,278 240 117 63 34 83 1,683 Total Annual Potential, Primary Market 16,176 4,562 2,546 1,022 400 1,736 7,185 1,349 660 357 188 467 36,649 1 Per U.S. Census and ESRI Business Analyst.
2 Assumes mortgage-income ratio of 35%, a downpayment ranging from 20% to 35% depending on age, interest of 6.5%, a total tax rate of 1.8%, and HOA fees plus insurance averaging $375 per month. 3 Per 2021 Census PUMS for PUMA area equivalent to Oakland Metropolitan Division, applied to 2023 ESRI household figures.
SOURCE: U.S. Census Bureau; ESRI Business Analyst; RCLCO 2,493
HOUSEHOLDS
AGE 55-74
457,095
551,194
549,820
-275
457,095
469,558
2,493
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 97
745
Exhibit VI-3B
Boulevard (Dublin Crossing)
Housing Affordability
Dublin, CA
September 2023
ASSUMPTIONS
Mortgage Rate 6.5%
Mortgage Term 30
PMI 2.00%
Taxes 1.58%
Monthly HOA and Insurance $375
Payment as % of Gross Income 35.00%
SAMPLE CALCULATION - INCOME HOUSING AFFORDABILITY - INCOME REQUIREMENTS Home cost $1,800,000 Home Cost
Downpayment 20% $406,000 $1,000,000 $1,400,000 $1,800,000 $2,200,000 $2,600,000 Mortgage Amount $1,440,000 10% $304,000 $421,000 $538,000 $654,000 $771,000 Mortgage PMT $109,221 15% $291,000 $402,000 $513,000 $624,000 $735,000 Property Taxes $28,440 20% $231,000 $319,000 $406,000 $494,000 $581,000 PMI $0 25% $221,000 $304,000 $387,000 $470,000 $553,000 HOA $4,500 30% $210,000 $288,000 $367,000 $446,000 $525,000 Total Housing-Related Payments $142,161 35% $199,000 $273,000 $348,000 $422,000 $496,000 Minimum Annual Income $406,000 40% $188,000 $258,000 $328,000 $398,000 $468,000 45% $177,000 $243,000 $309,000 $374,000 $440,000
50% $166,000 $228,000 $289,000 $351,000 $412,000
SOURCE: RCLCO
Down Payment
REAL ESTATE CONSULTING
EXHIBITS
City of Dublin | Market Pricing and Absorption Analysis | Proposed CFD for Boulevard (Dublin Crossing) Phase 5 R1-11558.09 | October 6, 2023 | 98
746
A U S T I N
501 C o n g r e s s A v e n u e , S u i t e 1 5 0
A u s t i n , T X 7 8 7 0 1
L O S A N G E L E S
1 1 6 0 1 W i l s h i r e B o u l e v a r d , S u i t e 1 6 5 0 L o s A n g e l e s , C A 9 0 0 2 5
O R L A N D O
9 6 4 L a k e B a l d w i n L a n e , S u i t e 1 0 0 O r l a n d o , F L 3 2 8 1 4
WA S H I N G TO N , D C
7 2 0 0 W i s c o n s i n A v e n u e , S u i t e 1 1 1 0 B e t h e s d a , M D 2 0 8 1 4
747
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APPENDIX F FORM OF OPINION OF BOND COUNSEL [Closing Date] City Council City of Dublin 100 Civic Plaza Dublin, California 94568 OPINION: $__________ City of Dublin Community Facilities District No. 2015-1 (Dublin Crossing) Improvement Area No. 5 Special Tax Bonds, Series 2023 Members of the City Council: We have acted as bond counsel in connection with the issuance by the City of Dublin (the “City”) of $__________ City of Dublin Community Facilities District No. 2015-1 (Dublin Crossing) Improvement Area No. 5 Special Tax Bonds, Series 2023 (the “Bonds”), pursuant to the Mello-Roos Community Facilities Act of 1982, as amended, constituting Section 53311, et seq. of the California Government Code (the “Act”) and a Fiscal Agent Agreement dated as of _______, 2023 (the “Fiscal Agent Agreement”) by and between the City for and on behalf of the City of Dublin Community Facilities District No. 2015-1 (Dublin Crossing) for its Improvement Area No. 5, and U.S. Bank Trust Company, National Association, as fiscal agent. We have examined the law and such certified proceedings and other papers as we deem necessary to render this opinion. As to questions of fact material to our opinion, we have relied upon representations of the City contained in the Fiscal Agent Agreement, and in the certified proceedings and other certifications of public officials furnished to us, without undertaking to verify the same by independent investigation. Based upon the foregoing, we are of the opinion, under existing law, as follows: 1. The City is duly created and validly existing as a public body, corporate and politic, with the power to adopt the resolution authorizing the issuance of the Bonds (the “Resolution”), enter into the Fiscal Agent Agreement, and perform the agreements on its part contained therein, and issue the Bonds. 2. The Bonds have been duly authorized, executed and delivered by the City and are valid and binding limited obligations of the City, payable solely from the sources provided therefor in the Fiscal Agent Agreement. 3. The Fiscal Agent Agreement has been duly entered into by the City and constitutes a valid and binding obligation of the City enforceable upon the City. 4. Pursuant to the Act, the Fiscal Agent Agreement creates a valid lien on the funds pledged by the Fiscal Agent Agreement. 748
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5. The interest on the Bonds is excluded from gross income for federal income tax purposes and is not an item of tax preference for purposes of the federal alternative minimum tax. It should be noted however that for tax years beginning after December 31, 2022, interest on the Bonds may be subject to the corporate alternative minimum tax. The opinions set forth in the preceding sentences are subject to the condition that the City comply with all requirements of the Internal Revenue Code of 1986, as amended, relating to the exclusion from gross income for federal income tax purposes of interest on obligations such as the Bonds. The City has made certain representations and covenants in order to comply with each such requirement. Inaccuracy of those representations, or failure to comply with certain of those covenants, may cause the inclusion of such interest in gross income for federal income tax purposes, which may be retroactive to the date of issuance of the Bonds 6. The interest on the Bonds is exempt from personal income taxation imposed by the State of California. We express no opinion regarding any other tax consequences arising with respect to the ownership, sale or disposition of, or the amount, accrual or receipt of interest on, the Bonds. The rights of the owners of the Bonds and the enforceability of the Bonds, the Resolution and the Fiscal Agent Agreement may be subject to bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting creditors’ rights heretofore or hereafter enacted and may also be subject to the exercise of judicial discretion in appropriate cases. This opinion is given as of the date hereof, and we assume no obligation to revise or supplement this opinion to reflect any facts or circumstances that may hereafter come to our attention, or any changes in law that may hereafter occur. Our engagement with respect to this matter has terminated as of the date hereof. Respectfully submitted, A Professional Law Corporation 749
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APPENDIX G FORM OF CONTINUING DISCLOSURE UNDERTAKINGS
750
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APPENDIX G-1 CONTINUING DISCLOSURE AGREEMENT (City) $___________ CITY OF DUBLIN COMMUNITY FACILITIES DISTRICT NO. 2015-1 (DUBLIN CROSSING) IMPROVEMENT AREA NO. 5 SPECIAL TAX BONDS, SERIES 2023 This CONTINUING DISCLOSURE AGREEMENT (this “Disclosure Agreement”), dated as of ______ 1, 2023 is entered into by the CITY OF DUBLIN (the “City”), for and on behalf of the City of Dublin Community Facilities District No. 2015-1 (Dublin Crossing) (the “District”) for its Improvement Area No. 5 (“Improvement Area No. 5), and Goodwin Consulting Group Inc., as initial dissemination agent, in connection with the execution and delivery by the City of its City of Dublin Community Facilities District No. 2015-1 (Dublin Crossing) Improvement Area No. 5 Special Tax Bonds, Series 2023 (the “Bonds”). The Bonds are being executed and delivered pursuant to a Fiscal Agent Agreement, dated as of _______, 2023 (the “Fiscal Agent Agreement”), by and between the City and U.S. Bank Trust Company, National Association, as fiscal agent (the “Fiscal Agent”). The City covenants and agrees, for and on behalf of the District, as follows: Section 1. Purpose of the Disclosure Agreement. This Disclosure Agreement is being executed and delivered by the City for the benefit of the holders and beneficial owners of the Bonds and in order to assist the Participating Underwriter in complying with the Rule. Section 2. Definitions. In addition to the definitions set forth above and in the Fiscal Agent Agreement, which apply to any capitalized term used in this Disclosure Agreement unless otherwise defined herein, the following capitalized terms shall have the following meanings: “Annual Report” means any Annual Report provided by the City pursuant to, and as described in, Sections 3 and 4 of this Disclosure Agreement. “Annual Report Date” means January 15th of each year that an Annual Report is due. “Dissemination Agent” means, initially, Goodwin Consulting Group, Inc., or any successor Dissemination Agent designated in writing by the City and which has filed with the City a written acceptance of such designation in accordance with Section 8 of this Disclosure Agreement. “Listed Events” means any of the events listed in Section 5(a) of this Disclosure Agreement. “MSRB” means the Municipal Securities Rulemaking Board, which has been designated by the Securities and Exchange Commission as the sole repository of disclosure information for purposes of the Rule, or any other repository of disclosure information that may be designated by the Securities and Exchange Commission as such for purposes of the Rule in the future. 751
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“Official Statement” means the final official statement executed by the City in connection with the issuance of the Bonds. “Participating Underwriter” means __________, as the original underwriter of the Bonds. “Rule” means Rule 15c2-12(b)(5) adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as it may be amended from time to time. “Special Taxes” means the special taxes of the District levied on taxable property within the District. Section 3. Provision of Annual Reports. (a) The City shall, or shall cause the Dissemination Agent to, not later than the Annual Report Date, commencing January 15, 2024, with the report for Fiscal Year 2022-23 (provided that the first Annual Report may consist solely of the Official Statement), provide to the MSRB, in an electronic format as prescribed by the MSRB, an Annual Report that is consistent with the requirements of Section 4 of this Disclosure Agreement. Not later than 15 Business Days prior to the Annual Report Date, the City shall provide the Annual Report to the Dissemination Agent (if other than the City). If by 15 Business Days prior to the Annual Report Date the Dissemination Agent (if other than the City) has not received a copy of the Annual Report, the Dissemination Agent shall contact the City to determine if the City is in compliance with the previous sentence. The Annual Report may be submitted as a single document or as separate documents comprising a package, and may include by reference other information as provided in Section 4 of this Disclosure Agreement; provided, that the audited financial statements of the City may be submitted separately from the balance of the Annual Report, and later than the Annual Report Date, if not available by that date. If the City’s Fiscal Year changes, it shall give notice of such change in the same manner as for a Listed Event. The City shall provide a written certification with each Annual Report furnished to the Dissemination Agent to the effect that such Annual Report constitutes the Annual Report required to be furnished by the City hereunder. (b) If the City does not provide (or cause the Dissemination Agent to provide) an Annual Report by the Annual Report Date, the City shall provide (or cause the Dissemination Agent to provide) to the MSRB in a timely manner, in an electronic format as prescribed by the MSRB, a notice in substantially the form prescribed by the MSRB. (c) With respect to each Annual Report, the Dissemination Agent shall: (i) determine prior to each Annual Report Date the then-applicable rules and electronic format prescribed by the MSRB for the filing of annual continuing disclosure reports; and (ii) if the Dissemination Agent is other than the City, file a report with the City certifying that the Annual Report has been provided pursuant to this Disclosure Agreement, and stating the date it was provided. Section 4. Content of Annual Reports. The City’s Annual Report shall contain or incorporate by reference the following:
752
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(a) The City’s audited financial statements prepared in accordance with generally accepted accounting principles as promulgated to apply to governmental entities from time to time by the Governmental Accounting Standards Board. If the City’s audited financial statements are not available by the Annual Report Date, the audited financial statements shall be filed in the same manner as the Annual Report when they become available. (b) The following information: (i) Principal amount of all outstanding bonds of Improvement Area No. 5. (ii) Balance in the improvement fund or construction account. (iii) Balance in debt service reserve fund, and statement of the reserve fund requirement. Statement of projected reserve fund draw, if any. (iv) Balance in other funds and accounts held by the City or Fiscal Agent related to the Bonds. (v) Additional debt authorized by the City and payable from or secured by special taxes with respect to property within Improvement Area No. 5. (vi) The Special Tax levy, collections, the delinquency rate, total amount of delinquencies, number of parcels delinquent in payment for the five most recent Fiscal Years. (vii) The identity of each delinquent taxpayer responsible for 5% or more of total special tax/assessment levied, and for each such taxpayer, the applicable assessor parcel number, assessed value of applicable properties, amount of Special Tax levied, amount delinquent by parcel number and status of foreclosure proceedings. If any foreclosure has been completed, a summary of results of foreclosure sales or transfers shall be provided. (viii) Most recently available total assessed value of all parcels subject to the Special Tax (in total, not by individual APNs). (ix) Value-to-lien ratios of top taxpayers (substantially in the form of Table 2 to the Official Statement, but excluding any appraised values, overlapping debt information and special tax-related projections). (x) To the extent not already provided pursuant to (ix) above, list of landowners subject to 5% or more of the Special Tax levy, including the following information: development status to the extent shown in City records, land use classification, and assessed value. The reporting of development status shall coincide with cut-off dates applicable to the latest special tax levy. (xi) Building permits issued within Improvement Area No. 5 during the reporting period. (c) In addition to any of the information expressly required to be provided under this Disclosure Agreement, the City shall provide such further material information, if any, as may be 753
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necessary to make the specifically required statements, in the light of the circumstances under which they are made, not misleading. (d) Any or all of the items listed above may be included by specific reference to other documents, including official statements of debt issues of the City or related public entities, which are available to the public on the MSRB’s internet web site or filed with the Securities and Exchange Commission. The City shall clearly identify each such other document so included by reference. Section 5. Reporting of Listed Events. (a) The City shall give, or cause to be given, notice of the occurrence of any of the following Listed Events with respect to the Bonds: (1) Principal and interest payment delinquencies. (2) Non-payment related defaults, if material. (3) Unscheduled draws on debt service reserves reflecting financial difficulties. (4) Unscheduled draws on credit enhancements reflecting financial difficulties. (5) Substitution of credit or liquidity providers, or their failure to perform. (6) Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701-TEB) or other material notices or determinations with respect to the tax status of the security, or other material events affecting the tax status of the security. (7) Modifications to rights of security holders, if material. (8) Bond calls, if material, and tender offers. (9) Defeasances. (10) Release, substitution, or sale of property securing repayment of the securities, if material. (11) Rating changes. (12) Bankruptcy, insolvency, receivership or similar event of the City or other obligated person. (13) The consummation of a merger, consolidation, or acquisition involving the City or an obligated person, or the sale of all or substantially all of the assets of the City or an obligated person (other than in the ordinary course of business), the entry into a definitive agreement to undertake such an action, or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms, if material. 754
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(14) Appointment of a successor or additional fiscal agent or the change of name of the fiscal agent, if material. (15) Incurrence of a financial obligation of the City, if material, or agreement to covenants, events of default, remedies, priority rights, or other similar terms of a financial obligation of the City, any of which affect security holders, if material (for the definition of “financial obligation,” see clause (e)). (16) Default, event of acceleration, termination event, modification of terms, or other similar events under the terms of a financial obligation of the City, any of which reflect financial difficulties (for the definition of “financial obligation,” see clause (e)). (b) Whenever the City obtains knowledge of the occurrence of a Listed Event, the City shall, or shall cause the Dissemination Agent (if not the City) to, file a notice of such occurrence with the MSRB, in an electronic format as prescribed by the MSRB, in a timely manner not in excess of 10 business days after the occurrence of the Listed Event. (c) The City acknowledges that the events described in subparagraphs (a)(2), (a)(7), (a)(8) (if the event is a bond call), (a)(10), (a)(13), (a)(14) and (a)(15) of this Section 5 contain the qualifier “if material” and that subparagraph (a)(6) also contains the qualifier “material” with respect to certain notices, determinations or other events affecting the tax status of the Bonds. The City shall cause a notice to be filed as set forth in paragraph (b) above with respect to any such event only to the extent that it determines the event’s occurrence is material for purposes of U.S. federal securities law. Whenever the City obtains knowledge of the occurrence of any of these Listed Events, the City will as soon as possible determine if such event would be material under applicable federal securities law. If such event is determined to be material, the City will cause a notice to be filed as set forth in paragraph (b) above. (d) For purposes of this Disclosure Agreement, any event described in paragraph (a)(12) above is considered to occur when any of the following occur: the appointment of a receiver, fiscal agent, or similar officer for the City in a proceeding under the United States Bankruptcy Code or in any other proceeding under state or federal law in which a court or governmental authority has assumed jurisdiction over substantially all of the assets or business of the City, or if such jurisdiction has been assumed by leaving the existing governing body and officials or officers in possession but subject to the supervision and orders of a court or governmental authority, or the entry of an order confirming a plan of reorganization, arrangement, or liquidation by a court or governmental authority having supervision or jurisdiction over substantially all of the assets or business of the City. (e) For purposes of Section 5(a)(15) and (16), “financial obligation” means a (i) debt obligation; (ii) derivative instrument entered into in connection with, or pledged as security or a source of payment for, an existing or planned debt obligation; or (iii) guarantee of (i) or (ii). The term financial obligation shall not include municipal securities as to which a final official statement has been provided to the MSRB consistent with the Rule. Section 6. Identifying Information for Filings with the MSRB. All documents provided to the MSRB pursuant to this Disclosure Agreement shall be accompanied by identifying information as prescribed by the MSRB. 755
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Section 7. Termination of Reporting Obligation. The City’s obligations under this Disclosure Agreement shall terminate upon the legal defeasance, prior redemption or payment in full of all of the Bonds. If such termination occurs prior to the final maturity of the Bonds, the City shall give notice of such termination in the same manner as for a Listed Event under Section 5(c). Section 8. Dissemination Agent. The City may, from time to time, appoint or engage a Dissemination Agent to assist it in carrying out its obligations under this Disclosure Agreement, and may discharge any Dissemination Agent, with or without appointing a successor Dissemination Agent. Any Dissemination Agent may resign by providing 30 days’ written notice to the City. The initial Dissemination Agent shall be the City. Section 9. Amendment; Waiver. Notwithstanding any other provision of this Disclosure Agreement, the City may amend this Disclosure Agreement, and any provision of this Disclosure Agreement may be waived, provided that the following conditions are satisfied: (a) if the amendment or waiver relates to the provisions of Sections 3(a), 4 or 5(a), it may only be made in connection with a change in circumstances that arises from a change in legal requirements, change in law, or change in the identity, nature, or status of an obligated person with respect to the Bonds, or type of business conducted; and (b) the proposed amendment or waiver either (i) is approved by holders of the Bonds in the manner provided in the Fiscal Agent Agreement for amendments to the Fiscal Agent Agreement with the consent of holders, or (ii) does not, in the opinion of nationally recognized bond counsel, materially impair the interests of the holders or beneficial owners of the Bonds. If the annual financial information or operating data to be provided in the Annual Report is amended pursuant to the provisions hereof, the first Annual Report filed pursuant hereto containing the amended operating data or financial information shall explain, in narrative form, the reasons for the amendment and the impact of the change in the type of operating data or financial information being provided. If an amendment is made to this Disclosure Agreement modifying the accounting principles to be followed in preparing financial statements, the Annual Report for the year in which the change is made shall present a comparison between the financial statements or information prepared on the basis of the new accounting principles and those prepared on the basis of the former accounting principles. The comparison shall include a qualitative discussion of the differences in the accounting principles and the impact of the change in the accounting principles on the presentation of the financial information, in order to provide information to investors to enable them to evaluate the ability of the City to meet its obligations. To the extent reasonably feasible, the comparison shall be quantitative. A notice of any amendment made pursuant to this Section 9 shall be filed in the same manner as for a Listed Event under Section 5(b). Section 10. Additional Information. Nothing in this Disclosure Agreement shall be deemed to prevent the City from disseminating any other information, using the means of dissemination set forth in this Disclosure Agreement or any other means of communication, or including any other information in any Annual Report or notice of occurrence of a Listed Event, in addition to that which is required by this Disclosure Agreement. If the City chooses to include any information in any Annual Report or notice of occurrence of a Listed Event in addition to that which is 756
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specifically required by this Disclosure Agreement, the City shall have no obligation under this Disclosure Agreement to update such information or include it in any future Annual Report or notice of occurrence of a Listed Event. Section 11. Default. If the City fails to comply with any provision of this Disclosure Agreement, the Participating Underwriter or any holder or beneficial owner of the Bonds may take such actions as may be necessary and appropriate, including seeking mandate or specific performance by court order, to cause the City to comply with its obligations under this Disclosure Agreement. A default under this Disclosure Agreement shall not be deemed an Event of Default under the Fiscal Agent Agreement, and the sole remedy under this Disclosure Agreement in the event of any failure of the City to comply with this Disclosure Agreement shall be an action to compel performance. Section 12. Duties, Immunities and Liabilities of Dissemination Agent. (a) The Dissemination Agent shall have only such duties as are specifically set forth in this Disclosure Agreement, and the City agrees to indemnify and save harmless the Dissemination Agent, its officers, directors, employees and agents (each, an “Indemnified Party”), against any loss, expense and liability which it may incur arising out of or in the exercise or performance of its powers and duties hereunder, including the reasonable costs and expenses (including reasonable attorneys’ fees) of defending against any claim of liability, but excluding losses, liabilities, costs and expenses due to an Indemnified Party’s negligence, willful misconduct or failure to perform its duties hereunder. The Dissemination Agent shall have no duty or obligation to review any information provided to it by the City hereunder, and shall not be deemed to be acting in any fiduciary capacity for the City, the holders and beneficial owners from time to time of the Bonds or any other party. The obligations of the City under this Section shall survive resignation or removal of the Dissemination Agent and payment of the Bonds. (b) The Dissemination Agent shall be paid compensation by the City for its services provided hereunder in accordance with its schedule of fees as amended from time to time, and shall be reimbursed for all reasonable and documented expenses, legal fees and advances made or incurred by the Dissemination Agent in the performance of its duties hereunder. Section 13. Beneficiaries. This Disclosure Agreement shall inure solely to the benefit of the City, the Dissemination Agent, the Participating Underwriter and the holders and beneficial owners from time to time of the Bonds, and shall create no rights in any other person or entity. Section 14. Counterparts. This Disclosure Agreement may be executed in several counterparts, each of which shall be regarded as an original, and all of which shall constitute one and the same instrument. 757
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IN WITNESS WHEREOF, the parties hereto have executed this Disclosure Agreement as of the date first above written. CITY OF DUBLIN, for and on behalf of City of Dublin Community Facilities District No. 2015-1 (Dublin Crossing) for its Improvement Area No. 5 By: Authorized Officer GOODWIN CONSULTING GROUP, INC., as Dissemination Agent By: Authorized Officer 758
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APPENDIX G-2 DEVELOPER CONTINUING DISCLOSURE AGREEMENT (Developer - Brookfield Bay Area Holdings LLC) This Developer Continuing Disclosure Agreement (the “Disclosure Agreement”), dated as of _______, 2023, is executed and delivered by Brookfield Bay Area Holdings LLC, a Delaware limited liability company (the “Landowner”), in connection with the issuance by the City of Dublin (the “City”) with respect to the $_________ City of Dublin Community Facilities District No. 2015-1 (Dublin Crossing), Improvement Area No. 5, Special Tax Bonds, Series 2023 (the “Bonds”). The Bonds are being issued under a Fiscal Agent Agreement, dated as of _______, 2023 (the “Fiscal Agent Agreement”), between the City and U.S. Bank Trust Company, National Association, as Fiscal Agent (the “Fiscal Agent”). The Landowner covenants and agrees as follows: SECTION 1. Purpose of the Disclosure Agreement. This Disclosure Agreement is being executed and delivered by the Landowner to assist the Underwriter in the marketing of the Bonds. SECTION 2. Definitions. Unless otherwise defined in this Section, the following capitalized terms shall have the following meanings: “Affiliate” shall mean, with respect to the Landowner, (a) each Person that, directly or indirectly, owns or controls, whether beneficially or as an agent, guardian or other fiduciary, fifty percent (50%) or more of the outstanding voting securities of the Landowner, or (b) each Person that controls, is controlled by or is under common control with the Landowner; provided, however, that in no case shall any of the following be deemed to be an Affiliate of the Landowner for purposes of this Disclosure Agreement: (i) the City; (ii) Dublin Crossing, LLC; (iii) CalAtlantic Group, LLC, or any entity directly or indirectly, owned or controlled by CalAtlantic Group, LLC; or (iv) Lennar Homes of California, LLC, or any entity directly or indirectly, owned or controlled by Lennar Homes of California, LLC. For the purpose of this definition, “control” of a Person shall mean the possession, directly or indirectly, of the power to direct or cause the direction of its management or policies, unless such waiver is solely the result of an official position with such Person. “Beneficial Owner” shall mean any person which has or shares the power, directly or indirectly, to make investment decisions concerning ownership of the Bonds (including persons holding Bonds through nominees, depositories or other intermediaries). “Dissemination Agent” shall mean a Person serving as Dissemination Agent hereunder, or any successor Dissemination Agent designated in writing by the Landowner and which has filed with the Landowner and the City a written acceptance of such designation. Initially, the Landowner is the Dissemination Agent. “District” shall mean City of Dublin Community Facilities District No. 2015-1 (Dublin Crossing). “EMMA” shall mean the Electronic Municipal Market Access system of the MSRB. “Improvement Area No. 5” means Improvement Area No. 5 of the District. 759
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“Listed Event” shall mean any of the events listed in Section 5(a) of this Disclosure Agreement. “MSRB” shall mean the Municipal Securities Rulemaking Board. “Official Statement” shall mean the final Official Statement relating to the Bonds. “Person” shall mean any individual, corporation, partnership, association, limited liability company, joint stock company, trust, unincorporated organization, or government or political subdivision thereof. “Property” shall mean, at the date of determination, any property owned by the Landowner or its Affiliates within Improvement Area No. 5 of the District. Property acquired by the Landowner subsequent to the date of this Disclosure Agreement shall automatically be covered by this Disclosure Agreement without the need for execution of any assumption agreement. “Repository” shall mean the MSRB or any other entity designated or authorized by the Securities and Exchange Commission to receive continuing disclosure reports. Unless otherwise designated by the MSRB or the Securities and Exchange Commission, filings with the MSRB are to be made through the EMMA website of the MSRB, currently located at http://emma.msrb.org. “Semiannual Report” shall mean any report to be provided by the Landowner on or prior to June 15 and December 15 of each year pursuant to, and as described in, Sections 3 and 4 of this Disclosure Agreement. “Underwriter” shall mean the original underwriter of the Bonds, ____________. SECTION 3. Provision of Semiannual Reports. (a) Until such time as the Landowner’s reporting requirements terminate pursuant to Section 6 below, the Landowner shall, or upon receipt of the Semiannual Report from the Landowner the Dissemination Agent shall, not later than June 15 and December 15 of each year, commencing June 15, 2024, provide to the Repository a Semiannual Report which is consistent with the requirements of Section 4 of this Disclosure Agreement. If, in any year, June 15 or December 15 falls on a Saturday, Sunday, or a holiday, such deadline shall be extended to the next following day that is not a Saturday, Sunday, or holiday. The Semiannual Report may be submitted as a single document or as separate documents comprising a package, and may include by reference other information as provided in Section 4 of this Disclosure Agreement. (b) Not later than fifteen (15) calendar days prior to the date specified in subsection (a) for providing the Semiannual Report to the Repository, the Landowner (i) shall provide the Semiannual Report to the Dissemination Agent or (ii) shall provide notification to the Dissemination Agent that the Landowner is preparing, or causing to be prepared, the Semiannual Report and the date which the Semiannual Report is expected to be filed. If by such date, the Dissemination Agent has not received a copy of the Semiannual Report or notification as described in the preceding sentence, the Dissemination Agent shall notify the Landowner of such failure to receive the report. (c) If the Dissemination Agent is unable to provide a Semiannual Report to the Repository by the applicable June 15th or December 15th or to verify that a Semiannual Report has been provided to the Repository by the Landowner by the applicable June 15th or December 760
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15th, the Dissemination Agent shall send a notice to the Repository in the form required by the Repository. (d) The Dissemination Agent shall: (i) determine each year prior to the date for providing the Semiannual Report the name and address of the Repository; and (ii) promptly after receipt of the Semiannual Report file a report with the Landowner and the City certifying that the Semiannual Report has been provided pursuant to this Disclosure Agreement, stating the date it was provided to the Repository. (e) Notwithstanding any other provision of this Disclosure Agreement, any of the required filings hereunder shall be made in accordance with the MSRB’s EMMA system. SECTION 4. Content of Semiannual Reports. (a) The Landowner’s Semiannual Report shall contain or include by reference the information which is updated through a date which shall not be more than 60 days prior to the date of the filing of the Semiannual Report relating to the following: 1. An update (if any) to the information relating to the Landowner and its Affiliates under the captions in the Official Statement entitled “IMPROVEMENT AREA NO. 5 – Improvement Area No. 5 Ownership,” “– The Merchant Builders," “– The Development Plan – Melrose Neighborhood,” and “– Financing Plan – Merchant Builders – Brookfield Merchant Builder Financing Plan”. 2. A description of the number of building permits issued during the reporting period with respect to the Property in Improvement Area No. 5 owned by the Landowner and any Affiliate. 3. Any significant amendments to land use entitlements that are known to the Landowner with respect to parcels owned by the Landowner or its Affiliates within Improvement Area No. 5. 4. Any significant changes in the ownership structure of the Landowner described in the Official Statement under the caption “OWNERSHIP OF PROPERTY WITHIN IMPROVEMENT AREA NO. 5 – The Developer, Brookfield and Lennar Homes - Brookfield BAH." 5. Any sale of Property within Improvement Area No. 5 by the Landowner or an Affiliate to an unrelated merchant builder. 6. An update of the status of any previously reported Listed Event described in Section 5 hereof. (b) Any and all of the items listed above may be included by specific reference to other documents, including official statements of debt issues which have been submitted to the Repository or the Securities and Exchange Commission. If the document included by reference is a final official statement, it must be available from the MSRB. The Landowner shall clearly identify each such other document so included by reference. 761
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SECTION 5. Reporting of Significant Events. (a) Until such time as the Landowner’s reporting requirements terminate pursuant to Section 6 below, pursuant to the provisions of this Section 5, the Landowner shall give, or cause to be given, notice of the occurrence of any of the following events, if material under clauses (b) and (c) as soon as practicable after the Landowner obtains knowledge of any of the following events: 1. Failure to pay any real property taxes, special taxes or assessments levied within Improvement Area No. 5 on a parcel of Property owned by the Landowner or any Affiliate that was not promptly cured upon discovery; 2. Material default by the Landowner or any Affiliate on any loan with respect to the construction or permanent financing of improvements to Improvement Area No. 5 to which the Landowner or any Affiliate has been provided a notice of default; 3. Material default by the Landowner or any Affiliate on any loan secured by Property within Improvement Area No. 5 owned by the Landowner or any Affiliate to which the Landowner or any Affiliate has been provided a notice of default; 4. Payment default by the Landowner or any Affiliate on any loan of the Landowner or any Affiliate (whether or not such loan is secured by Property within Improvement Area No. 5) which is beyond any applicable cure period in such loan and, in the reasonable judgment of the Landowner, such payment default will adversely affect the completion of the development of parcels owned by the Landowner or its Affiliates within Improvement Area No. 5, or would materially adversely affect the financial condition of the Landowner or its Affiliates or their respective ability to pay special taxes levied within Improvement Area No. 5; 5. The filing of any proceedings with respect to the Landowner or any Affiliate that owns Property within Improvement Area No. 5 in which the Landowner may be adjudicated as bankrupt or discharged from any or all of its debts or obligations or granted an extension of time to pay debts or a reorganization or readjustment of its debts; 6. The filing of any proceedings with respect to an Affiliate that does not own Property in Improvement Area No. 5 in which such Affiliate may be adjudicated as bankrupt or discharged from any or all of its debts or obligations or granted an extension of time to pay its debts or a reorganization or readjustment of its debts, if such adjudication will adversely affect the completion of the development of parcels of Property owned by the Landowner or its Affiliates that own Property within Improvement Area No. 5, or would materially adversely affect the financial condition of the Landowner or its Affiliates that own Property within Improvement Area No. 5 and their respective ability to pay special taxes levied on Property within Improvement Area No. 5; and 7. The filing of any lawsuit against the Landowner or any of its Affiliates (for which Landowner or Affiliate is in receipt of service of process) which, in the reasonable judgment of the Landowner, will adversely affect the completion of the development of parcels of Property owned by the Landowner or its Affiliates within Improvement Area No. 5, or litigation which if decided against the Landowner, or any such Affiliates, in the reasonable judgment of the Landowner, would materially adversely affect the financial 762
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condition of the Landowner or its Affiliates and their respective ability to pay special taxes levied on Property within Improvement Area No. 5. (b) Whenever the Landowner obtains knowledge of the occurrence of a Listed Event, the Landowner shall as soon as possible determine if such event would be material under applicable federal securities laws. The Dissemination Agent shall have no responsibility to determine the materiality of any of the Listed Events. (c) If the Landowner determines that knowledge of the occurrence of a Listed Event would be material under applicable federal securities laws, the Landowner shall promptly (i) file a notice of such occurrence with the Dissemination Agent which shall then distribute such notice to the Repository, with a copy to the City or (ii) file a notice of such occurrence with the Repository, with a copy to the Dissemination Agent and the City. SECTION 6. Termination of Reporting Obligation. The Landowner’s obligations under this Disclosure Agreement shall terminate upon the earlier to occur of the following events: (a) the legal defeasance, prior redemption or payment in full of all of the Bonds, or (b) at any time that the Landowner and its Affiliates own Property in Improvement Area No. 5 that is responsible for less than 20% of the special tax levy in Improvement Area No. 5. If such termination occurs prior to the final maturity of the Bonds, the Landowner shall give notice of such termination in the same manner as for a Listed Event. SECTION 7. Dissemination Agent. The Landowner may from time to time, appoint or engage a Dissemination Agent to assist it in carrying out its obligations under this Disclosure Agreement, and may discharge any such Dissemination Agent, with or without appointing a successor Dissemination Agent. If the Dissemination Agent is not the Landowner, the Dissemination Agent shall not be responsible in any manner for the form or content of any notice or report prepared by the Landowner pursuant to this Disclosure Agreement. The Dissemination Agent may resign by providing (i) thirty days written notice to the Landowner and the Dissemination Agent and (ii) upon appointment of a new Dissemination Agent hereunder. SECTION 8. Amendment; Waiver. Notwithstanding any other provision of this Disclosure Agreement, the Landowner may amend this Disclosure Agreement, and any provision of this Disclosure Agreement may be waived, provided that the following conditions are satisfied: (a) If the amendment or waiver relates to the provisions of Sections 3(a), 4 or 5, it may only be made in connection with a change in circumstances that arises from a change in legal requirements or a change in law; (b) The amendment or waiver either (i) is approved by the owners of the Bonds in the same manner as provided in the Fiscal Agent Agreement with the consent of owners of the Bonds, or (ii) does not, in the opinion of nationally recognized bond counsel addressed to the City and the Dissemination Agent, materially impair the interests of the owners or Beneficial Owners of the Bonds; and (c) The Landowner, or the Dissemination Agent, shall have delivered copies of the amendment and any opinions delivered under (b) above to the City and the Fiscal Agent. 763
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In the event of any amendment or waiver of a provision of this Disclosure Agreement, the Landowner shall describe such amendment in the next Semiannual Report, and shall include, as applicable, a narrative explanation of the reason for the amendment or waiver. SECTION 9. Additional Information. Nothing in this Disclosure Agreement shall be deemed to prevent the Landowner from disseminating any other information, using the means of dissemination set forth in this Disclosure Agreement or any other means of communication, or including any other information in any Semiannual Report, or notice of occurrence of a Listed Event, in addition to that which is required by this Disclosure Agreement. If the Landowner chooses to include any information in any Semiannual Report, or notice of occurrence of a Listed Event in addition to that which is specifically required by this Disclosure Agreement, the Landowner shall have no obligation under this Disclosure Agreement to update such information or include it in any future Semiannual Report, or notice of occurrence of a Listed Event. The Landowner acknowledges and understands that other state and federal laws, including but not limited to the Securities Act of 1933 and Rule 10b-5 promulgated under the Securities Exchange Act of 1934, may apply to the Landowner, and that under some circumstances compliance with this Disclosure Agreement, without additional disclosures or other action, may not fully discharge all duties and obligations of the Landowner under such laws. SECTION 10. Default. In the event of a failure of the Landowner or the Dissemination Agent to comply with any provision of this Disclosure Agreement, the Underwriter or any owner or Beneficial Owner of the Bonds may, take such actions as may be necessary and appropriate, including seeking mandate or specific performance by court order, to cause the Landowner or the Dissemination Agent to comply with its obligations under this Disclosure Agreement. A default under this Disclosure Agreement shall not be deemed an Event of Default under the Fiscal Agent Agreement (as such term is defined therein), and the sole remedy under this Disclosure Agreement in the event of any failure of the Landowner to comply with this Disclosure Agreement shall be an action to compel performance. Neither the Landowner nor the Dissemination Agent shall have any liability to the Beneficial Owners of the Bonds or any other party for monetary damages or financial liability of any kind whatsoever arising from or relating to this Disclosure Agreement. SECTION 11. Duties, Immunities and Liabilities of Dissemination Agent. The Dissemination Agent shall not be deemed to be acting in any fiduciary capacity for the Landowner, the Underwriter, owners of the Bonds or Beneficial Owners or any other party. The Dissemination Agent may rely and shall be protected in acting or refraining from acting upon a direction from the Landowner or an opinion of nationally recognized bond counsel. No person shall have any right to commence any action against the Dissemination Agent seeking any remedy other than to compel specific performance of this Disclosure Agreement. The Dissemination Agent may conclusively rely upon the Semiannual Report provided to it by the Landowner as constituting the Semiannual Report required of the Landowner in accordance with this Disclosure Agreement and shall have no duty or obligation to review such Semiannual Report. The Dissemination Agent shall have no duty to prepare the Semiannual Report nor shall the Dissemination Agent be responsible for filing any Semiannual Report not provided to it by the Landowner in a timely manner in a form suitable for filing with the Repository. Any company succeeding to all or substantially all of the Dissemination Agent’s corporate trust business shall be the successor to the Dissemination Agent hereunder without the execution or filing of any paper or any further act. 764
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SECTION 12. Landowner as Independent Contractor. In performing under this Disclosure Agreement, it is understood that the Landowner is an independent contractor and not an agent of the City. SECTION 13. Notices. Notices should be sent in writing by electronic mail, overnight mail, or regular mail to the following addresses. The following information may be conclusively relied upon until changed in writing. Landowner: Brookfield Bay Area Holdings LLC 500 La Gonda Way, Suite 100 Danville, CA 94526 [email protected] Underwriter: Piper Sandler & Co. 3626 Fair Oaks Blvd., Suite 100 Sacramento, CA 95864 Phone: (916) 361-6520 Email: [email protected] City: City of Dublin 100 Civic Plaza Dublin, CA 94568 Email: [email protected] SECTION 14. Beneficiaries. This Disclosure Agreement shall inure solely to the benefit of the Landowner, the City, the Dissemination Agent, the Underwriter and owners of the Bonds and Beneficial Owners from time to time of the Bonds, and shall create no rights in any other person or entity. SECTION 15. California Law. The validity, interpretation and performance of this Disclosure Agreement shall be governed by the laws of the State of California. 765
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SECTION 16. Counterparts. This Disclosure Agreement may be executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument. BROOKFIELD BAY AREA HOLDINGS LLC, A Delaware limited liability company By: Name: __________________________________ Title: ___________________________________ 766
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APPENDIX G-3 DEVELOPER CONTINUING DISCLOSURE AGREEMENT (Lennar Homes of California, LLC) This Developer Continuing Disclosure Agreement (the “Disclosure Agreement”), dated as of _______, 2023, is executed and delivered by Lennar Homes of California, LLC, a California limited liability company (the “Landowner”), in connection with the issuance by the City of Dublin (the “City”) with respect to the $___________ City of Dublin Community Facilities District No. 2015-1 (Dublin Crossing), Improvement Area No. 5, Special Tax Bonds, Series 2023 (the “Bonds”). The Bonds are being issued under a Fiscal Agent Agreement, dated as of _______, 2023 (the “Fiscal Agent Agreement”), between the City and U.S. Bank Trust Company, National Association, as Fiscal Agent (the “Fiscal Agent”). The Landowner covenants and agrees as follows: SECTION 1. Purpose of the Disclosure Agreement. This Disclosure Agreement is being executed and delivered by the Landowner to assist the Underwriter in the marketing of the Bonds. SECTION 2. Definitions. Unless otherwise defined in this Section, the following capitalized terms shall have the following meanings: “Affiliate” shall mean, with respect to the Landowner, (a) each Person that, directly or indirectly, owns or controls, whether beneficially or as an agent, guardian or other fiduciary, fifty percent (50%) or more of the outstanding voting securities of the Landowner, or (b) each Person that controls, is controlled by or is under common control with the Landowner; provided, however, that in no case shall any of the following be deemed to be an Affiliate of the Landowner for purposes of this Disclosure Agreement: (i) the City; (ii) Dublin Crossing, LLC; and (iii) Brookfield Bay Area Holdings LLC. For the purpose of this definition, “control” of a Person shall mean the possession, directly or indirectly, of the power to direct or cause the direction of its management or policies, unless such waiver is solely the result of an official position with such Person. “Beneficial Owner” shall mean any person which has or shares the power, directly or indirectly, to make investment decisions concerning ownership of the Bonds (including persons holding Bonds through nominees, depositories or other intermediaries). “Dissemination Agent” shall mean a Person serving as Dissemination Agent hereunder, or any successor Dissemination Agent designated in writing by the Landowner and which has filed with the Landowner and the City a written acceptance of such designation. Initially, the Landowner is the Dissemination Agent. “District” shall mean City of Dublin Community Facilities District No. 2015-1 (Dublin Crossing). “EMMA” shall mean the Electronic Municipal Market Access system of the MSRB. “Improvement Area No. 5” means Improvement Area No. 5 of the District. “Listed Event” shall mean any of the events listed in Section 5(a) of this Disclosure Agreement. “MSRB” shall mean the Municipal Securities Rulemaking Board. 767
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“Official Statement” shall mean the final Official Statement, dated __________, relating to the Bonds. “Person” shall mean any individual, corporation, partnership, association, limited liability company, joint stock company, trust, unincorporated organization, or government or political subdivision thereof. “Property” shall mean, at the date of determination, any property owned by the Landowner or its Affiliates within Improvement Area No. 5 of the District. Property in Improvement Area No. 5 acquired by the Landowner or an Affiliate (specifically including Lennar Homes of California, LLC) subsequent to the date of this Disclosure Agreement shall automatically be covered by this Disclosure Agreement without the need for execution of any assumption agreement. “Repository” shall mean the MSRB or any other entity designated or authorized by the Securities and Exchange Commission to receive continuing disclosure reports. Unless otherwise designated by the MSRB or the Securities and Exchange Commission, filings with the MSRB are to be made through the EMMA website of the MSRB, currently located at http://emma.msrb.org. “Semiannual Report” shall mean any report to be provided by the Landowner on or prior to June 15 and December 15 of each year pursuant to, and as described in, Sections 3 and 4 of this Disclosure Agreement. “Underwriter” shall mean the original underwriter of the Bonds, _____________. SECTION 3. Provision of Semiannual Reports. (a) Until such time as the Landowner’s reporting requirements terminate pursuant to Section 6 below, the Landowner shall, or upon receipt of the Semiannual Report from the Landowner the Dissemination Agent shall, not later than June 15 and December 15 of each year, commencing June 15, 2024, provide to the Repository a Semiannual Report which is consistent with the requirements of Section 4 of this Disclosure Agreement. If, in any year, June 15 or December 15 falls on a Saturday, Sunday, or a holiday, such deadline shall be extended to the next following day that is not a Saturday, Sunday, or holiday. The Semiannual Report may be submitted as a single document or as separate documents comprising a package, and may include by reference other information as provided in Section 4 of this Disclosure Agreement. (b) Not later than fifteen (15) calendar days prior to the date specified in subsection (a) for providing the Semiannual Report to the Repository, the Landowner (i) shall provide the Semiannual Report to the Dissemination Agent or (ii) shall provide notification to the Dissemination Agent that the Landowner is preparing, or causing to be prepared, the Semiannual Report and the date which the Semiannual Report is expected to be filed. If by such date, the Dissemination Agent has not received a copy of the Semiannual Report or notification as described in the preceding sentence, the Dissemination Agent shall notify the Landowner of such failure to receive the report. (c) If the Dissemination Agent is unable to provide a Semiannual Report to the Repository by the applicable June 15th or December 15th or to verify that a Semiannual Report has been provided to the Repository by the Landowner by the applicable June 15th or December 15th, the Dissemination Agent shall send a notice to the Repository in the form required by the Repository. 768
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(d) The Dissemination Agent shall: (i) determine each year prior to the date for providing the Semiannual Report the name and address of the Repository; and (ii) promptly after receipt of the Semiannual Report file a report with the Landowner and the City certifying that the Semiannual Report has been provided pursuant to this Disclosure Agreement, stating the date it was provided to the Repository. (e) Notwithstanding any other provision of this Disclosure Agreement, any of the required filings hereunder shall be made in accordance with the MSRB’s EMMA system. SECTION 4. Content of Semiannual Report. (a) The Landowner’s Semiannual Report shall contain or include by reference the information which is updated through a date which shall not be more than 60 days prior to the date of the filing of the Semiannual Report relating to the following: 1. An update (if any) to the information relating to the Landowner and its Affiliates under the captions in the Official Statement entitled “IMPROVEMENT AREA NO. 5 – Improvement Area No. 5 Ownership,” “– The Merchant Builders,” “–The Development Plan – Avalon Neighborhood,” and “– Financing Plan – Merchant Builders – Lennar Homes Financing Plan”. 2. A description of the number of building permits issued during the reporting period with respect to the Property in Improvement Area No. 5 owned by the Landowner and any Affiliate. 3. Any significant amendments to land use entitlements that are known to the Landowner with respect to parcels owned by the Landowner or its Affiliates within Improvement Area No. 5. 4. Any significant changes in the ownership structure of the Landowner described in the Official Statement under the caption “OWNERSHIP OF PROPERTY WITHIN IMPROVEMENT AREA NO. 5 – The Developer, Brookfield and Lennar Homes - Lennar Homes” and “– Lennar Corporation." 5. Any sale of Property within Improvement Area No. 5 by the Landowner or an Affiliate to an unrelated merchant builder. 6. An update of the status of any previously reported Listed Event described in Section 5 hereof. (b) Any and all of the items listed above may be included by specific reference to other documents, including official statements of debt issues which have been submitted to the Repository or the Securities and Exchange Commission. If the document included by reference is a final official statement, it must be available from the MSRB. The Landowner shall clearly identify each such other document so included by reference. 769
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SECTION 5. Reporting of Significant Events. (a) Until such time as the Landowner’s reporting requirements terminate pursuant to Section 6 below, pursuant to the provisions of this Section 5, the Landowner shall give, or cause to be given, notice of the occurrence of any of the following events, if material under clauses (b) and (c) as soon as practicable after the Landowner obtains knowledge of any of the following events: 1. Failure to pay any real property taxes, special taxes or assessments levied within Improvement Area No. 5 on a parcel of Property owned by the Landowner or any Affiliate that was not promptly cured upon discovery; 2. Material default by the Landowner or any Affiliate on any loan with respect to the construction or permanent financing of improvements to Improvement Area No. 5 to which the Landowner or any Affiliate has been provided a notice of default; 3. Material default by the Landowner or any Affiliate on any loan secured by Property within Improvement Area No. 5 owned by the Landowner or any Affiliate to which the Landowner or any Affiliate has been provided a notice of default; 4. Payment default by the Landowner or any Affiliate on any loan of the Landowner or any Affiliate (whether or not such loan is secured by Property within Improvement Area No. 5) which is beyond any applicable cure period in such loan and, in the reasonable judgment of the Landowner, such payment default will adversely affect the completion of the development of parcels owned by the Landowner or its Affiliates within Improvement Area No. 5, or would materially adversely affect the financial condition of the Landowner or its Affiliates or their respective ability to pay special taxes levied within Improvement Area No. 5; 5. The filing of any proceedings with respect to the Landowner or any Affiliate that owns Property within Improvement Area No. 5 in which the Landowner may be adjudicated as bankrupt or discharged from any or all of its debts or obligations or granted an extension of time to pay debts or a reorganization or readjustment of its debts; 6. The filing of any proceedings with respect to an Affiliate that does not own Property in Improvement Area No. 5 in which such Affiliate may be adjudicated as bankrupt or discharged from any or all of its debts or obligations or granted an extension of time to pay its debts or a reorganization or readjustment of its debts, if such adjudication will adversely affect the completion of the development of parcels owned by the Landowner or its Affiliates that own Property within Improvement Area No. 5, or would materially adversely affect the financial condition of the Landowner or its Affiliates that own Property within Improvement Area No. 5 and their respective ability to pay special taxes levied within Improvement Area No. 5; and 7. The filing of any lawsuit against the Landowner or any of its Affiliates (for which Landowner or Affiliate is in receipt of service of process) which, in the reasonable judgment of the Landowner, will adversely affect the completion of the development of parcels owned by the Landowner or its Affiliates within Improvement Area No. 5, or litigation which if decided against the Landowner, or any such Affiliates, in the reasonable judgment of the Landowner, would materially adversely affect the financial condition of the 770
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Landowner or its Affiliates and their respective ability to pay special taxes levied within Improvement Area No. 5. (b) Whenever the Landowner obtains knowledge of the occurrence of a Listed Event, the Landowner shall as soon as possible determine if such event would be material under applicable federal securities laws. The Dissemination Agent shall have no responsibility to determine the materiality of any of the Listed Events. (c) If the Landowner determines that knowledge of the occurrence of a Listed Event would be material under applicable federal securities laws, the Landowner shall promptly (i) file a notice of such occurrence with the Dissemination Agent which shall then distribute such notice to the Repository, with a copy to the City or (ii) file a notice of such occurrence with the Repository, with a copy to the Dissemination Agent and the City. SECTION 6. Termination of Reporting Obligation. The Landowner’s obligations under this Disclosure Agreement shall terminate upon the earlier to occur of the following events: (a) the legal defeasance, prior redemption or payment in full of all of the Bonds, or (b) at any time that the Landowner and its Affiliates own Property in Improvement Area No. 5 that is responsible for less than 20% of the special tax levy in Improvement Area No. 5. If such termination occurs prior to the final maturity of the Bonds, the Landowner shall give notice of such termination in the same manner as for a Listed Event. SECTION 7. Dissemination Agent. The Landowner may from time to time, appoint or engage a Dissemination Agent to assist it in carrying out its obligations under this Disclosure Agreement, and may discharge any such Dissemination Agent, with or without appointing a successor Dissemination Agent. If the Dissemination Agent is not the Landowner, the Dissemination Agent shall not be responsible in any manner for the form or content of any notice or report prepared by the Landowner pursuant to this Disclosure Agreement. The Dissemination Agent may resign by providing (i) thirty days written notice to the Landowner and the Dissemination Agent and (ii) upon appointment of a new Dissemination Agent hereunder. SECTION 8. Amendment; Waiver. Notwithstanding any other provision of this Disclosure Agreement, the Landowner may amend this Disclosure Agreement, and any provision of this Disclosure Agreement may be waived, provided that the following conditions are satisfied: (a) If the amendment or waiver relates to the provisions of Sections 3(a), 4 or 5, it may only be made in connection with a change in circumstances that arises from a change in legal requirements or a change in law; (b) The amendment or waiver either (i) is approved by the owners of the Bonds in the same manner as provided in the Fiscal Agent Agreement with the consent of owners of the Bonds, or (ii) does not, in the opinion of nationally recognized bond counsel addressed to the City and the Dissemination Agent, materially impair the interests of the owners or Beneficial Owners of the Bonds; and (c) The Landowner, or the Dissemination Agent, shall have delivered copies of the amendment and any opinions delivered under (b) above to the City and the Fiscal Agent. 771
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In the event of any amendment or waiver of a provision of this Disclosure Agreement, the Landowner shall describe such amendment in the next Semiannual Report, and shall include, as applicable, a narrative explanation of the reason for the amendment or waiver. SECTION 9. Additional Information. Nothing in this Disclosure Agreement shall be deemed to prevent the Landowner from disseminating any other information, using the means of dissemination set forth in this Disclosure Agreement or any other means of communication, or including any other information in any Semiannual Report or notice of occurrence of a Listed Event, in addition to that which is required by this Disclosure Agreement. If the Landowner chooses to include any information in any Semiannual Report or notice of occurrence of a Listed Event in addition to that which is specifically required by this Disclosure Agreement, the Landowner shall have no obligation under this Disclosure Agreement to update such information or include it in any future Semiannual Report or notice of occurrence of a Listed Event. The Landowner acknowledges and understands that other state and federal laws, including but not limited to the Securities Act of 1933 and Rule 10b-5 promulgated under the Securities Exchange Act of 1934, may apply to the Landowner, and that under some circumstances compliance with this Disclosure Agreement, without additional disclosures or other action, may not fully discharge all duties and obligations of the Landowner under such laws. SECTION 10. Default. In the event of a failure of the Landowner or the Dissemination Agent to comply with any provision of this Disclosure Agreement, the Underwriter or any owner or Beneficial Owner of the Bonds may, take such actions as may be necessary and appropriate, including seeking mandate or specific performance by court order, to cause the Landowner or the Dissemination Agent to comply with its obligations under this Disclosure Agreement. A default under this Disclosure Agreement shall not be deemed an Event of Default under the Fiscal Agent Agreement (as such term is defined therein), and the sole remedy under this Disclosure Agreement in the event of any failure of the Landowner to comply with this Disclosure Agreement shall be an action to compel performance. Neither the Landowner nor the Dissemination Agent shall have any liability to the Beneficial Owners of the Bonds or any other party for monetary damages or financial liability of any kind whatsoever arising from or relating to this Disclosure Agreement. SECTION 11. Duties, Immunities and Liabilities of Dissemination Agent. The Dissemination Agent shall not be deemed to be acting in any fiduciary capacity for the Landowner, the Underwriter, owners of the Bonds or Beneficial Owners or any other party. The Dissemination Agent may rely and shall be protected in acting or refraining from acting upon a direction from the Landowner or an opinion of nationally recognized bond counsel. No person shall have any right to commence any action against the Dissemination Agent seeking any remedy other than to compel specific performance of this Disclosure Agreement. The Dissemination Agent may conclusively rely upon the Semiannual Report provided to it by the Landowner as constituting the Semiannual Report required of the Landowner in accordance with this Disclosure Agreement and shall have no duty or obligation to review such Semiannual Report. The Dissemination Agent shall have no duty to prepare the Semiannual Report nor shall the Dissemination Agent be responsible for filing any Semiannual Report not provided to it by the Landowner in a timely manner in a form suitable for filing with the Repository. Any company succeeding to all or substantially all of the Dissemination Agent’s corporate trust business shall be the successor to the Dissemination Agent hereunder without the execution or filing of any paper or any further act. 772
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SECTION 12. Landowner as Independent Contractor. In performing under this Disclosure Agreement, it is understood that the Landowner is an independent contractor and not an agent of the City. SECTION 13. Notices. As of the date hereof, notices should be sent in writing by electronic mail, overnight mail, or regular mail to the following addresses. Landowner: Lennar Homes of California, LLC 2603 Camino Ramon, Suite 525 San Ramon, CA 94583 Attention: Bridgit Koller, Vice President Forward Planning, Bay Area Division Phone: (925) 847-8700 Email: [email protected] Underwriter: Piper Sandler & Co. 3626 Fair Oaks Blvd., Suite 100 Sacramento, CA 95864 Phone: (916) 361-6520 Email: [email protected] City: City of Dublin 100 Civic Plaza Dublin, CA 94568 Phone: (925) 833-6654 Email: [email protected] SECTION 14. Beneficiaries. This Disclosure Agreement shall inure solely to the benefit of the Landowner, the City, the Dissemination Agent, the Underwriter and owners of the Bonds and Beneficial Owners from time to time of the Bonds, and shall create no rights in any other person or entity. SECTION 15. California Law. The validity, interpretation and performance of this Disclosure Agreement shall be governed by the laws of the State of California. SECTION 16. Counterparts. This Disclosure Agreement may be executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument. LENNAR HOMES OF CALIFORNIA, LLC, a California limited liability company By: Bridgit Koller Vice President 773
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APPENDIX G-4 DEVELOPER CONTINUING DISCLOSURE AGREEMENT (Developer – Dublin Crossing, LLC) This Developer Continuing Disclosure Agreement (the “Disclosure Agreement”), dated as of _______, 2023, is executed and delivered by Dublin Crossing, LLC, a Delaware limited liability company (the “Developer”), in connection with the issuance by the City of Dublin (the “City”) with respect to the $_________ City of Dublin Community Facilities District No. 2015-1 (Dublin Crossing), Improvement Area No. 5, Special Tax Bonds, Series 2023 (the “Bonds”). The Bonds are being issued under a Fiscal Agent Agreement, dated as of _______, 2023 (the “Fiscal Agent Agreement”), between the City and U.S. Bank Trust Company, National Association, as Fiscal Agent (the “Fiscal Agent”). The Developer covenants and agrees as follows: SECTION 1. Purpose of the Disclosure Agreement. This Disclosure Agreement is being executed and delivered by the Developer to assist the Underwriter in the marketing of the Bonds. SECTION 2. Definitions. Unless otherwise defined in this Section, the following capitalized terms shall have the following meanings: “Affiliate” shall mean, with respect to the Developer, (a) each Person that, directly or indirectly, owns or controls, whether beneficially or as an agent, guardian or other fiduciary, fifty percent (50%) or more of the outstanding voting securities of the Developer, or (b) each Person that controls, is controlled by or is under common control with the Developer; provided, however, that in no case shall any of the following be deemed to be an Affiliate of the Developer for purposes of this Disclosure Agreement: (i) the City; (ii) Brookfield Bay Area Holdings LLC.; or (iii) Lennar Homes of California, LLC, or any entity directly or indirectly, owned or controlled by Lennar Homes of California, LLC. For the purpose of this definition, “control” of a Person shall mean the possession, directly or indirectly, of the power to direct or cause the direction of its management or policies, unless such waiver is solely the result of an official position with such Person. “Beneficial Owner” shall mean any person which has or shares the power, directly or indirectly, to make investment decisions concerning ownership of the Bonds (including persons holding Bonds through nominees, depositories or other intermediaries). “Dissemination Agent” shall mean a Person serving as Dissemination Agent hereunder, or any successor Dissemination Agent designated in writing by the Developer and which has filed with the Developer and the City a written acceptance of such designation. Initially, the Developer is the Dissemination Agent. “District” shall mean City of Dublin Community Facilities District No. 2015-1 (Dublin Crossing). “EMMA” shall mean the Electronic Municipal Market Access system of the MSRB. “Improvement Area No. 5” means Improvement Area No. 5 of the District. “Listed Event” shall mean any of the events listed in Section 5(a) of this Disclosure Agreement. “MSRB” shall mean the Municipal Securities Rulemaking Board. 774
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“Official Statement” shall mean the final Official Statement relating to the Bonds. “Person” shall mean any individual, corporation, partnership, association, limited liability company, joint stock company, trust, unincorporated organization, or government or political subdivision thereof. “Property” shall mean, at the date of determination, (i) any property owned by the Developer or its Affiliates within Improvement Area No. 5 of the District and (ii) any property within Improvement Area No. 5 of the District that is conveyed to a builder that was required to enter into an assumption agreement pursuant to Section 6 but did not. “Repository” shall mean the MSRB or any other entity designated or authorized by the Securities and Exchange Commission to receive continuing disclosure reports. Unless otherwise designated by the MSRB or the Securities and Exchange Commission, filings with the MSRB are to be made through the EMMA website of the MSRB, currently located at http://emma.msrb.org. “Semiannual Report” shall mean any report to be provided by the Developer on or prior to June 15 and December 15 of each year pursuant to, and as described in, Sections 3 and 4 of this Disclosure Agreement. “Underwriter” shall mean the original underwriter of the Bonds, __________. SECTION 3. Provision of Semiannual Reports. (a) Until such time as the Developer’s reporting requirements terminate pursuant to Section 6 below, the Developer shall, or upon receipt of the Semiannual Report from the Developer the Dissemination Agent shall, not later than June 15 and December 15 of each year, commencing June 15, 2024, provide to the Repository a Semiannual Report which is consistent with the requirements of Section 4 of this Disclosure Agreement. If, in any year, June 15 or December 15 falls on a Saturday, Sunday, or a holiday, such deadline shall be extended to the next following day that is not a Saturday, Sunday, or holiday. The Semiannual Report may be submitted as a single document or as separate documents comprising a package, and may include by reference other information as provided in Section 4 of this Disclosure Agreement. (b) Not later than fifteen (15) calendar days prior to the date specified in subsection (a) for providing the Semiannual Report to the Repository, the Developer (i) shall provide the Semiannual Report to the Dissemination Agent or (ii) shall provide notification to the Dissemination Agent that the Developer is preparing, or causing to be prepared, the Semiannual Report and the date which the Semiannual Report is expected to be filed. If by such date, the Dissemination Agent has not received a copy of the Semiannual Report or notification as described in the preceding sentence, the Dissemination Agent shall notify the Developer of such failure to receive the report. (c) If the Dissemination Agent is unable to provide a Semiannual Report to the Repository by the applicable June 15th or December 15th or to verify that a Semiannual Report has been provided to the Repository by the Developer by the applicable June 15th or December 15th, the Dissemination Agent shall send a notice to the Repository in the form required by the Repository. 775
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(d) The Dissemination Agent shall: (i) determine each year prior to the date for providing the Semiannual Report the name and address of the Repository; and (ii) promptly after receipt of the Semiannual Report file a report with the Developer and the City certifying that the Semiannual Report has been provided pursuant to this Disclosure Agreement, stating the date it was provided to the Repository. (e) Notwithstanding any other provision of this Disclosure Agreement, any of the required filings hereunder shall be made in accordance with the MSRB’s EMMA system. SECTION 4. Content of Semiannual Reports. (a) The Developer’s Semiannual Report shall contain or include by reference the information which is updated through a date which shall not be more than 60 days prior to the date of the filing of the Semiannual Report relating to the following: 1. An update (if any) to the information relating to the Developer and its Affiliates under the captions in the Official Statement entitled “THE BOULEVARD PROJECT” (other than under the caption “– Market Pricing and Absorption Analysis" for which no update will be provided), “IMPROVEMENT AREA NO. 5" (other than under the captions “– The Merchant Builders,” “– The Development Plan," and “– Financing Plan – Merchant Builders” for which no update will be provided), and “OWNERSHIP OF PROPERTY WITHIN IMPROVEMENT AREA NO. 5 – The Developer, Brookfield, and Lennar Homes – Developer” and “– BrookCal”. 2. A description of the number of building permits issued during the reporting period with respect to the Property. 3. Any significant amendments to land use entitlements that are known to the Developer with respect to the Property. 4. Any significant changes in the ownership structure of the Developer or its Affiliates. 5. Any sale of Property by the Developer or an Affiliate to a merchant builder. 6. An update of the status of any previously reported Listed Event described in Section 5 hereof. (b) Any and all of the items listed above may be included by specific reference to other documents, including official statements of debt issues which have been submitted to the Repository or the Securities and Exchange Commission. If the document included by reference is a final official statement, it must be available from the MSRB. The Developer shall clearly identify each such other document so included by reference. SECTION 5. Reporting of Significant Events. (a) Until such time as the Developer’s reporting requirements terminate pursuant to Section 6 below, pursuant to the provisions of this Section 5, the Developer shall give, or cause 776
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to be given, notice of the occurrence of any of the following events, if material under clauses (b) and (c) as soon as practicable after the Developer obtains knowledge of any of the following events: 1. Failure to pay any real property taxes, special taxes or assessments levied within Improvement Area No. 5 on a parcel of Property that was not promptly cured upon discovery; 2. Material default by the Developer or any Affiliate on any loan with respect to the construction or permanent financing of improvements to Improvement Area No. 5 to which the Developer or any Affiliate has been provided a notice of default; 3. Material default by the Developer or any Affiliate on any loan secured by Property to which the Developer or any Affiliate has been provided a notice of default; 4. Payment default by the Developer or any Affiliate on any loan of the Developer or any Affiliate (whether or not such loan is secured by Property) which is beyond any applicable cure period in such loan and, in the reasonable judgment of the Developer, such payment default will adversely affect the completion of the development of the Property, or would materially adversely affect the financial condition of the Developer or its Affiliates or their respective ability to pay special taxes levied on the Property prior to delinquency; 5. The filing of any proceedings with respect to the Developer or any Affiliate that owns Property in which the Developer may be adjudicated as bankrupt or discharged from any or all of its debts or obligations or granted an extension of time to pay debts or a reorganization or readjustment of its debts; 6. The filing of any proceedings with respect to an Affiliate that does not own Property in which such Affiliate may be adjudicated as bankrupt or discharged from any or all of its debts or obligations or granted an extension of time to pay its debts or a reorganization or readjustment of its debts, if such adjudication will adversely affect the completion of the development of parcels of Property, or would materially adversely affect the financial condition of the Developer or its Affiliates that own Property and their respective ability to pay special taxes levied on Property prior to delinquency; and 7. The filing of any lawsuit against the Developer or any of its Affiliates (for which Developer or Affiliate is in receipt of service of process) which, in the reasonable judgment of the Developer, will adversely affect the completion of the development of parcels of Property, or litigation which if decided against the Developer, or any such Affiliates, in the reasonable judgment of the Developer, would materially adversely affect the financial condition of the Developer or its Affiliates and their respective ability to pay special taxes levied on Property prior to delinquency. (b) Whenever the Developer obtains knowledge of the occurrence of a Listed Event, the Developer shall as soon as possible determine if such event would be material under applicable federal securities laws. The Dissemination Agent shall have no responsibility to determine the materiality of any of the Listed Events. (c) If the Developer determines that knowledge of the occurrence of a Listed Event would be material under applicable federal securities laws, the Developer shall promptly (i) file a 777
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notice of such occurrence with the Dissemination Agent which shall then distribute such notice to the Repository, with a copy to the City or (ii) file a notice of such occurrence with the Repository, with a copy to the Dissemination Agent and the City. SECTION 6. Termination of Reporting Obligation. The Developer’s obligations under this Disclosure Agreement shall terminate upon the earlier to occur of the following events: (a) the legal defeasance, prior redemption or payment in full of all of the Bonds, or (b) with respect to Neighborhood 19 (Venice), upon the conveyance of such property to a merchant builder and (i) if the buyer of the property is subject to a continuing disclosure certificate such that all newly-acquired property automatically becomes subject to such continuing disclosure certificate, then termination may occur upon the conveyance of the property without an assumption agreement, (ii) if the buyer of the property is not subject to a continuing disclosure certificate such that all newly-acquired property automatically becomes subject to such continuing disclosure certificate and if the property conveyed is responsible for less than 20% of the special tax levy in Improvement Area No. 5, then termination may occur upon the conveyance of the property without an assumption agreement, or (iii) if the buyer of the property is not subject to a continuing disclosure certificate such that all newly-acquired property automatically becomes subject to such continuing disclosure certificate and if the property conveyed is responsible for 20% or more of the special tax levy in Improvement Area No. 5, then termination may occur only upon execution of an assumption agreement such that the new owner agrees to provide continuing disclosure in the same manner as this Disclosure Agreement; or (c) with respect to Neighborhood 20 (Melrose), upon the conveyance of such property to a merchant builder and (i) if the buyer of the property is subject to a continuing disclosure certificate such that all newly-acquired property automatically becomes subject to such continuing disclosure certificate, then termination may occur upon the conveyance of the property without an assumption agreement, (ii) if the buyer of the property is not subject to a continuing disclosure certificate such that all newly-acquired property automatically becomes subject to such continuing disclosure certificate and if the property conveyed is responsible for less than 20% of the special tax levy in Improvement Area No. 5, then termination may occur upon the conveyance of the property without an assumption agreement, or (iii) if the buyer of the property is not subject to a continuing disclosure certificate such that all newly-acquired property automatically becomes subject to such continuing disclosure certificate and if the property conveyed is responsible for 20% or more of the special tax levy in Improvement Area No. 5, then termination may occur only upon execution of an assumption agreement such that the new owner agrees to provide continuing disclosure in the same manner as this Disclosure Agreement; or d) with respect to Neighborhood 24 (Lombard), upon the conveyance of such property to a merchant builder and (i) if the buyer of the property is subject to a continuing disclosure certificate such that all newly-acquired property automatically becomes subject to such continuing disclosure certificate, then termination may occur upon the conveyance of the property without an assumption agreement, (ii) if the buyer of the property is not subject to a continuing disclosure certificate such that all newly-acquired property automatically becomes subject to such continuing disclosure certificate and if the property conveyed is responsible for less than 20% of the special tax levy in Improvement Area No. 5, then termination may occur upon the conveyance of the property without an assumption agreement, or (iii) if the buyer of the property is not subject to a continuing disclosure certificate such that all newly-acquired property automatically becomes subject to such continuing disclosure certificate and if the property conveyed is responsible for 20% or more of the special tax levy in Improvement Area No. 5, then termination may occur only 778
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upon execution of an assumption agreement such that the new owner agrees to provide continuing disclosure in the same manner as this Disclosure Agreement; or (e) subject to (b), (c), and (d) above, at such time as the Developer no longer owns any taxable property in Improvement Area No. 5 of the District. For each termination that occurs prior to the final maturity of the Bonds, the Developer shall give notice of such termination in the same manner as for a Listed Event. SECTION 7. Dissemination Agent. The Developer may from time to time, appoint or engage a Dissemination Agent to assist it in carrying out its obligations under this Disclosure Agreement, and may discharge any such Dissemination Agent, with or without appointing a successor Dissemination Agent. If the Dissemination Agent is not the Developer, the Dissemination Agent shall not be responsible in any manner for the form or content of any notice or report prepared by the Developer pursuant to this Disclosure Agreement. The Dissemination Agent may resign by providing (i) thirty days written notice to the Developer and the Dissemination Agent and (ii) upon appointment of a new Dissemination Agent hereunder. SECTION 8. Amendment; Waiver. Notwithstanding any other provision of this Disclosure Agreement, the Developer may amend this Disclosure Agreement, and any provision of this Disclosure Agreement may be waived, provided that the following conditions are satisfied: (a) If the amendment or waiver relates to the provisions of Sections 3(a), 4 or 5, it may only be made in connection with a change in circumstances that arises from a change in legal requirements or a change in law; (b) The amendment or waiver either (i) is approved by the owners of the Bonds in the same manner as provided in the Fiscal Agent Agreement with the consent of owners of the Bonds, or (ii) does not, in the opinion of nationally recognized bond counsel addressed to the City and the Dissemination Agent, materially impair the interests of the owners or Beneficial Owners of the Bonds; and (c) The Developer, or the Dissemination Agent, shall have delivered copies of the amendment and any opinions delivered under (b) above to the City and the Fiscal Agent. In the event of any amendment or waiver of a provision of this Disclosure Agreement, the Developer shall describe such amendment in the next Semiannual Report, and shall include, as applicable, a narrative explanation of the reason for the amendment or waiver. SECTION 9. Additional Information. Nothing in this Disclosure Agreement shall be deemed to prevent the Developer from disseminating any other information, using the means of dissemination set forth in this Disclosure Agreement or any other means of communication, or including any other information in any Semiannual Report, or notice of occurrence of a Listed Event, in addition to that which is required by this Disclosure Agreement. If the Developer chooses to include any information in any Semiannual Report, or notice of occurrence of a Listed Event in addition to that which is specifically required by this Disclosure Agreement, the Developer shall have no obligation under this Disclosure Agreement to update such information or include it in any future Semiannual Report, or notice of occurrence of a Listed Event. The Developer acknowledges and understands that other state and federal laws, including but not limited to the Securities Act of 1933 and Rule 10b-5 promulgated under the Securities 779
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Exchange Act of 1934, may apply to the Developer, and that under some circumstances compliance with this Disclosure Agreement, without additional disclosures or other action, may not fully discharge all duties and obligations of the Developer under such laws. SECTION 10. Default. In the event of a failure of the Developer or the Dissemination Agent to comply with any provision of this Disclosure Agreement, the Underwriter or any owner or Beneficial Owner of the Bonds may, take such actions as may be necessary and appropriate, including seeking mandate or specific performance by court order, to cause the Developer or the Dissemination Agent to comply with its obligations under this Disclosure Agreement. A default under this Disclosure Agreement shall not be deemed an Event of Default under the Fiscal Agent Agreement (as such term is defined therein), and the sole remedy under this Disclosure Agreement in the event of any failure of the Developer to comply with this Disclosure Agreement shall be an action to compel performance. Neither the Developer nor the Dissemination Agent shall have any liability to the Beneficial Owners of the Bonds or any other party for monetary damages or financial liability of any kind whatsoever arising from or relating to this Disclosure Agreement. SECTION 11. Duties, Immunities and Liabilities of Dissemination Agent. The Dissemination Agent shall not be deemed to be acting in any fiduciary capacity for the Developer, the Underwriter, owners of the Bonds or Beneficial Owners or any other party. The Dissemination Agent may rely and shall be protected in acting or refraining from acting upon a direction from the Developer or an opinion of nationally recognized bond counsel. No person shall have any right to commence any action against the Dissemination Agent seeking any remedy other than to compel specific performance of this Disclosure Agreement. The Dissemination Agent may conclusively rely upon the Semiannual Report provided to it by the Developer as constituting the Semiannual Report required of the Developer in accordance with this Disclosure Agreement and shall have no duty or obligation to review such Semiannual Report. The Dissemination Agent shall have no duty to prepare the Semiannual Report nor shall the Dissemination Agent be responsible for filing any Semiannual Report not provided to it by the Developer in a timely manner in a form suitable for filing with the Repository. Any company succeeding to all or substantially all of the Dissemination Agent’s corporate trust business shall be the successor to the Dissemination Agent hereunder without the execution or filing of any paper or any further act. SECTION 12. Developer as Independent Contractor. In performing under this Disclosure Agreement, it is understood that the Developer is an independent contractor and not an agent of the City. SECTION 13. Notices. Notices should be sent in writing by electronic mail, overnight mail, or regular mail to the following addresses. The following information may be conclusively relied upon until changed in writing. Developer: Dublin Crossing, LLC 12657 Alcosta Blvd., Suite 250 San Ramon, CA 94583 [email protected] Underwriter: Piper Sandler & Co. 3626 Fair Oaks Blvd., Suite 100 Sacramento, CA 95864 780
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Phone: (916) 361-6520 Email: [email protected] City: City of Dublin 100 Civic Plaza Dublin, CA 94568 [email protected] SECTION 14. Beneficiaries. This Disclosure Agreement shall inure solely to the benefit of the Developer, the City, the Dissemination Agent, the Underwriter and owners of the Bonds and Beneficial Owners from time to time of the Bonds, and shall create no rights in any other person or entity. SECTION 15. California Law. The validity, interpretation and performance of this Disclosure Agreement shall be governed by the laws of the State of California. SECTION 16. Counterparts. This Disclosure Agreement may be executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument. DUBLIN CROSSING, LLC, a Delaware limited liability company By: BrookCal Dublin LLC, a Delaware limited liability company Its: Member By: __________________________ Name: ________________________ Title: _________________________ By: __________________________ Name: ________________________ Title: _________________________ By: SPIC Dublin LLC, a Delaware limited liability company Its: Member By: Standard Pacific Investment, LLC, a Delaware limited liability company Its: Member By: _______________________ Name: _____________________ Title: ______________________ 781
H-1
APPENDIX H BOOK ENTRY SYSTEM The following description of the Depository Trust Company (“DTC”), the procedures and record keeping with respect to beneficial ownership interests in the Bonds, payment of principal, interest and other payments on the Bonds (herein, the “Securities”) to DTC Participants or Beneficial Owners, confirmation and transfer of beneficial ownership interest in the Securities and other related transactions by and between DTC, the DTC Participants and the Beneficial Owners is based solely on information provided by DTC. Accordingly, no representations can be made concerning these matters and neither the DTC Participants nor the Beneficial Owners should rely on the foregoing information with respect to such matters, but should instead confirm the same with DTC or the DTC Participants, as the case may be. Neither the issuer of the Securities (the “Issuer”) nor the trustee, fiscal agent or paying agent appointed with respect to the Securities (the “Agent”) takes any responsibility for the information contained in this Appendix. No assurances can be given that DTC, DTC Participants or Indirect Participants will distribute to the Beneficial Owners (a) payments of interest, principal or premium, if any, with respect to the Securities, (b) certificates representing ownership interest in or other confirmation or ownership interest in the Securities, or (c) redemption or other notices sent to DTC or Cede & Co., its nominee, as the registered owner of the Securities, or that they will so do on a timely basis, or that DTC, DTC Participants or DTC Indirect Participants will act in the manner described in this Appendix. The current “Rules” applicable to DTC are on file with the Securities and Exchange Commission and the current “Procedures” of DTC to be followed in dealing with DTC Participants are on file with DTC. 1. The Depository Trust Company (“DTC”) will act as securities depository for the securities (the “Securities”). The Securities will be issued as fully-registered securities registered in the name of Cede & Co. (DTC’s partnership nominee) or such other name as may be requested by an authorized representative of DTC. One fully-registered Security certificate will be issued for each issue of the Securities, each in the aggregate principal amount of such issue, and will be deposited with DTC. If, however, the aggregate principal amount of any issue exceeds $500 million, one certificate will be issued with respect to each $500 million of principal amount, and an additional certificate will be issued with respect to any remaining principal amount of such issue. 2. DTC, the world’s largest securities depository, is a limited-purpose trust company organized under the New York Banking Law, a “banking organization” within the meaning of the New York Banking Law, a member of the Federal Reserve System, a “clearing corporation” within the meaning of the New York Uniform Commercial Code, and a “clearing agency” registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934. DTC holds and provides asset servicing for over 3.5 million issues of U.S. and non-U.S. equity issues, corporate and municipal debt issues, and money market instruments (from over 100 countries) that DTC’s participants (“Direct Participants”) deposit with DTC. DTC also facilitates the post-trade settlement among Direct Participants of sales and other securities transactions in deposited securities, through electronic computerized book-entry transfers and pledges between Direct Participants’ accounts. This eliminates the need for physical movement of securities certificates. Direct Participants include both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, clearing corporations, and certain other organizations. DTC is a wholly-owned subsidiary of The Depository Trust & Clearing Corporation (“DTCC”). DTCC is the holding 782
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company for DTC, National Securities Clearing Corporation and Fixed Income Clearing Corporation, all of which are registered clearing agencies. DTCC is owned by the users of its regulated subsidiaries. Access to the DTC system is also available to others such as both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, and clearing corporations that clear through or maintain a custodial relationship with a Direct Participant, either directly or indirectly (“Indirect Participants”). DTC has a Standard & Poor’s rating of AA+. The DTC Rules applicable to its Participants are on file with the Securities and Exchange Commission. More information about DTC can be found at www.dtcc.com. The information contained on this internet site is not incorporated herein by reference. 3. Purchases of Securities under the DTC system must be made by or through Direct Participants, which will receive a credit for the Securities on DTC’s records. The ownership interest of each actual purchaser of each Security (“Beneficial Owner”) is in turn to be recorded on the Direct and Indirect Participants’ records. Beneficial Owners will not receive written confirmation from DTC of their purchase. Beneficial Owners are, however, expected to receive written confirmations providing details of the transaction, as well as periodic statements of their holdings, from the Direct or Indirect Participant through which the Beneficial Owner entered into the transaction. Transfers of ownership interests in the Securities are to be accomplished by entries made on the books of Direct and Indirect Participants acting on behalf of Beneficial Owners. Beneficial Owners will not receive certificates representing their ownership interests in Securities, except in the event that use of the book-entry system for the Securities is discontinued. 4. To facilitate subsequent transfers, all Securities deposited by Direct Participants with DTC are registered in the name of DTC’s partnership nominee, Cede & Co., or such other name as may be requested by an authorized representative of DTC. The deposit of Securities with DTC and their registration in the name of Cede & Co. or such other DTC nominee do not effect any change in beneficial ownership. DTC has no knowledge of the actual Beneficial Owners of the Securities; DTC’s records reflect only the identity of the Direct Participants to whose accounts such Securities are credited, which may or may not be the Beneficial Owners. The Direct and Indirect Participants will remain responsible for keeping account of their holdings on behalf of their customers. 5. Conveyance of notices and other communications by DTC to Direct Participants, by Direct Participants to Indirect Participants, and by Direct Participants and Indirect Participants to Beneficial Owners will be governed by arrangements among them, subject to any statutory or regulatory requirements as may be in effect from time to time. Beneficial Owners of Securities may wish to take certain steps to augment the transmission to them of notices of significant events with respect to the Securities, such as redemptions, tenders, defaults, and proposed amendments to the Security documents. For example, Beneficial Owners of Securities may wish to ascertain that the nominee holding the Securities for their benefit has agreed to obtain and transmit notices to Beneficial Owners. In the alternative, Beneficial Owners may wish to provide their names and addresses to the registrar and request that copies of notices be provided directly to them. 6. Redemption notices shall be sent to DTC. If less than all of the Securities within an issue are being redeemed, DTC’s practice is to determine by lot the amount of the interest of each Direct Participant in such issue to be redeemed. 7. Neither DTC nor Cede & Co. (nor any other DTC nominee) will consent or vote with respect to Securities unless authorized by a Direct Participant in accordance with DTC’s MMI Procedures. Under its usual procedures, DTC mails an Omnibus Proxy to Issuer as soon as possible after the record date. The Omnibus Proxy assigns Cede & Co.’s consenting or voting 783
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rights to those Direct Participants to whose accounts Securities are credited on the record date (identified in a listing attached to the Omnibus Proxy). 8. Redemption proceeds, distributions, and dividend payments on the Securities will be made to Cede & Co., or such other nominee as may be requested by an authorized representative of DTC. DTC’s practice is to credit Direct Participants’ accounts upon DTC’s receipt of funds and corresponding detail information from Issuer or Agent, on payable date in accordance with their respective holdings shown on DTC’s records. Payments by Participants to Beneficial Owners will be governed by standing instructions and customary practices, as is the case with securities held for the accounts of customers in bearer form or registered in “street name,” and will be the responsibility of such Participant and not of DTC, Agent, or Issuer, subject to any statutory or regulatory requirements as may be in effect from time to time. Payment of redemption proceeds, distributions, and dividend payments to Cede & Co. (or such other nominee as may be requested by an authorized representative of DTC) is the responsibility of Issuer or Agent, disbursement of such payments to Direct Participants will be the responsibility of DTC, and disbursement of such payments to the Beneficial Owners will be the responsibility of Direct and Indirect Participants. 9. DTC may discontinue providing its services as depository with respect to the Securities at any time by giving reasonable notice to Issuer or Agent. Under such circumstances, in the event that a successor depository is not obtained, Security certificates are required to be printed and delivered. 10. Issuer may decide to discontinue use of the system of book-entry-only transfers through DTC (or a successor securities depository). In that event, Security certificates will be printed and delivered to DTC. 11. The information in this section concerning DTC and DTC’s book-entry system has been obtained from sources that Issuer believes to be reliable, but Issuer takes no responsibility for the accuracy thereof. 784
Dublin Crossing CFD No.
2015-1 -Improvement Area #5
785
Overview of Presentation
• Overview of CFD No. 2015-1
• Status of CFD No.2015-1
• Prior City Council Actions
• Review of recommended actions
• Discussion of Proposed Bonds
786
Overview of CFD No. 2015-1
• Dublin Crossing Specific Plan includes a maximum
of 1,995 residential units, a 30-acre Community
Park, two acres of open space, and a school site
• Project consists of approximately 190 acres
• Development Agreement provided for the
formation of a Community Facilities District to
fund certain improvements
787
Status of CFD No. 2015-1
• Improvement Area No. 1 (33 acres)
– 469 residential units (all units sold)
– Bonds have been sold/ Proceeds spent
• Improvement Area No. 2 (39 acres)
– 492 residential units (all units sold)
– Bonds have been sold/ Proceeds spent
• Improvement Area No. 3 (48.5 acres)
– 287 residential units (143 sold to homeowners)
– Bonds have been sold/ Proceeds spent
788
Status of CFD No. 2015-1
• Improvement Area No. 4 (15.2 acres)
– 266 residential units (153 sold to homeowners)
– Bonds have been sold/ $50,319 remain
• Improvement Area No. 5 (16.7 acres)
– 244 residential units (3 sold to homeowners)
• 86 lots sold to builders. 155 lots held by master developer. • As of October 1, 2023 – 104 building Permits issued and 5 model homes open (Lennar 3 and Brookfield 2).
789
Prior City Council Actions
• June 15, 2015 - adopted the Resolution of Formation
authorizing the financing of the public improvements via the levy of the special taxes upon the taxable property within the five improvement areas of the CFD
• July 18, 2017 - adopted Resolution No. 101-17 approving the issuance of $32,740,000 of Special Tax Bonds for Improvement Area No.1
• November 18, 2018 - adopted Resolution No. 118-18
approving the issuance of $37,745,000 of Special Tax Bonds for Improvement Area No. 2
790
Prior City Council Actions
• July 20, 2021- adopted Resolution No. 96-21 approving the issuance of $26,000,000 of Special Tax Bonds for Improvement Area No. 3
• September 20, 2022 - adopted Resolution No. 116-22
approving the issuance of $28,000,000 of Special Tax Bonds for Improvement Area No. 4
791
T onight’s Action
• Resolution authorizes the issuance of Special Tax Bonds for and on behalf of CFD 2015-1 (IA #5) and approves the following documents:
– Payable solely from special taxes levied on property within Improvement Area No. 5 of the CFD.
• Fiscal Agent Agreement with US Bank
– Provides the form of bonds and the administration of both the bond sale proceeds as well as the special tax from which bonds will be repaid. • Purchase Contract with Piper Sandler & Co., as underwriter – Provides for the sale of bonds to underwriter for resale to bond markets. 792
T onight’s Action (Con’t)
• Preliminary Official Statement provides certain information to enable prospective purchasers to make an informed investment decision. – Update version of POS document provided to the City Council • Updated development information
• Included Appendix (A,B,C)
• Corrected information – (Please note the City is current on all Continuing Disclosure Requirements and Filings)
• Continuing Disclosure Certificate provides for annual disclosure reports and notices of certain listed events related to the CFD and the bonds for the benefit of the bond holders.
793
Proposed Bonds
• Non-rated bonds, secured by liens recorded against property in Improvement Area No. 5.
• Bonds will have a debt service reserve fund equal to approximately one year of debt service.
• Bonds will fund capitalized interest through September 1, 2024. • Estimated Value to Lien of 6.53:1 based on estimated par size of $17.05M. • Bonds will mature on September 1, 2051, debt service will escalate by 2% each year.
• Par size of Bonds will not exceed $18.75M.
• True interest cost will not exceed 7.20%.
• Underwriter’s Discount will not exceed 0.95%.
794
Bond Proceeds
• Bond Proceeds will be used to:
– Finance the cost of acquiring and constructing
certain public infrastructure and/or financing
fees paid for capital improvements
– Pay Cost of Issuance
– Fund the Reserve Fund
– Fund Capitalized Interest
795
Finance T eam Members
• Appraiser – Integra Reality Resources
• Bond/Disclosure Counsel – Jones Hall
• Fiscal Agent – US Bank
• Market Absorption Consultant – RCLCO/Real Estate
Advisors
• Municipal Advisor – Fieldman, Rolapp & Associates
• Special Tax Consultant – Goodwin Consulting
• Underwriter – Piper Sandler & Co.
796
Recommendation
• Adopt the Resolution Authorizing the Issuance
of Special Tax Bonds For and On Behalf of the
City of Dublin Community Facilities District
No. 2015-1 (Dublin Crossing), Improvement
Area No. 5; and Approving the Form and
Authorizing the Execution of related
documents.
797
Questions?
798
STAFF REPORT
CITY COUNCIL
Agenda Item 7.2
DATE: November 7, 2023
TO: Honorable Mayor and City Councilmembers
FROM: Linda Smith, City Manager
SUBJECT: Potential Ballot Measures for March or November 2024 Prepared by: Linda Smith, City Manager, and John Bakker, City Attorney EXECUTIVE SUMMARY:
Based on direction given at the June 6, 2023 and August 15, 2023 City Council meetings, Staff was tasked with presenting proposed ballot measures for the March 5, 2024 Presidential Primary Election. Those proposed measures include a potential amendment to the Open Space Initiative of 2014 (the OSI) and to Mayor and City Council term limits. The owner of the property that would be the subject of the proposed amendment to the OSI desires additional time for outreach and planning on such a ballot measure, and therefore Staff is not presenting a proposed measure to amend the OSI. Several proposed term limits measures are presented for the City Council’s consideration, which could be placed on either the March 5, 2024 or November 5, 2024 statewide elections.
STAFF RECOMMENDATION:
Deliberate and consider (a) doing nothing or (b) adopting, after determining whether to place the matter on the ballot for the March 5, 2024 Presidential Primary Election or the November 5, 2024 General Election, one of the six proposed resolutions calling an election.
FINANCIAL IMPACT:
The exact costs of the election are unknown. The Alameda County Registrar of Voters (ROV) indicates that the costs of a March 5, 2024 primary election would be in the range of $244,328– $314,136 based on the City’s current voter registration of 34,904. Consolidation with elections held by other agencies could potentially reduce the costs further, but the ROV estimates that the costs would remain in the lower end of the range. There are also limited costs associated with printing the ballot materials, which Staff estimates to be approximately $5,000. Because the City is holding a municipal election on November 5, 2024, the additional costs associated with adding a ballot measure would be limited to the costs of printing the ballot materials.
The Fiscal Year 2023-2024 budget included $206,000 for a March 2024 primary election. 799
DESCRIPTION:
At the August 15, 2023 Study Session, the City Council discussed two potential ballot measures for consideration at this meeting — one related to the Open Space Initiative of 2014 and another related to term limits. At that meeting, Staff was directed to bring back ballot language for both measures for discussion on November 7.
Open Space Initiative (OSI)
The Dublin OSI, in general, limits the City’s ability to consider development outside of its existing City limits, but it required the City Council to study whether to place a measure on the ballot to change the City’s General Plan and allow development along the proposed Dublin Boulevard extension between Dublin and Livermore (the Crosby property) and no more than 1,200 feet north of I-580.
Following the Study Session, Staff, as directed by the City Council, consulted with the owner of the Crosby property (Crosby). Crosby conferred with various professionals and informed the City that Crosby desires to proceed with planning for an election in November 2024. Crosby indicated that it desires more time for community and stakeholder engagement and outreach, including discussions with the City of Livermore, and that a discussion about ballot placement at tonight’s meeting is premature and unnecessary. Given this feedback, Staff determined that it would not be prudent to bring back ballot language at this time for the City Council’s consideration.
Term Limits
On June 6, 2023, the City Council received a report from Staff which included a review of the current Municipal Code provision (shown below), which was approved by the Dublin voters in 1996.
“No person shall serve as Councilmember for more than two (2) consecutive terms, nor shall any person serve as Mayor for more than four (4) consecutive terms. In addition: (A) no person who has served as a Councilmember for one (1) term shall serve more than two (2) terms as Mayor if the terms as Councilmember and Mayor are consecutive; (B) no person who has served as Councilmember for two (2) consecutive terms shall serve a consecutive term as Mayor; (C) no person who has served as Mayor for three (3) or four (4) consecutive terms shall serve a consecutive term as a Councilmember; (D) no person who has served as Mayor for two (2) consecutive terms shall serve more than one (1) succeeding consecutive term as Councilmember; (E) no person who has served consecutive terms as Mayor and Councilmember shall serve more than one (1) more consecutive term as Mayor; and (F) no person who has served consecutive terms as Mayor and Councilmember shall serve another consecutive term as Councilmember. As used herein, a person shall be considered to have served a term of office as a Councilmember if such person has served as a Councilmember for two (2) years plus one (1) day and a person shall be considered to have served a term of office as Mayor if such person has served as Mayor for one (1) year plus one (1) day.”
In addition, the City Council received a report on the term limits in neighboring jurisdictions and 800
the report showed that the City of Dublin had the strictest term limit regulations among the cities in Alameda County and the Tri-Valley. As part of the discussion, concerns were raised about moving from at-large elections to district-based elections and whether having such stringent term limits would ultimately affect the continued strong governance structure in the community.
At that meeting, the City Council, by consensus, directed Staff to return with draft Ordinance language for the November 2024 General Municipal Election ballot that would ask the voters to limit Mayor and Council terms to 12 years, exclude councilmembers elected prior to the change in term limits, and clean up the current language around defining a term.
Then, at its August 15 Study Session, the City Council reviewed the most recent biennial survey and discussed potential ballot measures. At that meeting, the City Council, by a majority, directed Staff to prepare materials for two ballot measures for March 2024, one regarding term limits and the other regarding a potential annexation at the City’s eastern edge. As noted previously, the ballot measure for the OSI will not proceed based on a lack of support from the property owner until November 2024.
Because of the expressed desires at the June 6 meeting and August 15 Study Session, Staff has brought back various options for the City Council’s consideration regarding potential amendments to the term limits ordinance. As a reminder, any amendments to the term limits ordinance require voter approval.
Given the various viewpoints and our research on measures that amend term limits (Attachment 1), Staff has produced six different options for the City Council’s consideration. Although Staff’s judgments about the likelihood of success are unsupported by scientific polling, we have numbered the options on a spectrum from least (Option 1A) to most (Option 3B) likely to succeed based on our research.
The following summarizes each of the options and includes the proposed ballot question. The proposed legislation and ballot questions are based on the rationales offered by the City Council at the June 6, 2023 meeting and Staff’s review of successful term limits measures. Attachment 2 includes the spectrum of ballot questions in tabular format.
Option 1A: Option 1A (Attachment 3) is based on the direction given at the June 6, 2023 City Council meeting, with one exception. It would amend the existing term limits ordinance to (a) increase the number of terms from the equivalent of two city council terms (eight years) to the equivalent of three (12 years) and (b) clarify partial terms language to make clear that half of a term or less is not counted toward the term limit. It also includes some additional non-substantive changes proposed by the City Attorney to eliminate ambiguities in the existing ordinance and/or created by changes in state law. Unlike the direction at the June 6 meeting, Option 1A would apply to the current Mayor and Councilmembers.
Proposed ballot question for Option 1A:
For the purpose of retaining expertise as the City transitions to electing City Councilmembers from districts and eliminating an existing loophole that allows a 801
person to serve consecutive terms that exceed 10 years, shall the Dublin Municipal Code be amended to impose a consecutive term limit of 12 years for the Mayor and/or City Councilmembers?
Option 1B: Option 1B (Attachment 4) is identical to Option 1A, except that the amendments would not apply to current Mayor and Councilmembers. The only changes are the addition of text to the ballot question and proposed ordinance reflecting that policy difference.
Proposed ballot question for Option 1B:
For the purpose of retaining expertise as the City transitions to electing City Councilmembers from districts and eliminating an existing loophole that allows a person to serve additional terms after a break in service, shall the Dublin Municipal Code be amended to impose a lifetime term limit of 12 years for the Mayor and/or City Councilmembers while retaining existing term limits for the current Mayor and City Councilmembers?
Option 2A: Option 2A (Attachment 5) makes a significant change to the structure of the City’s term limits. Presently, the ordinance limits consecutive terms. Thus, under the existing term limits, a person, after hitting the limit, can take a period of time off and run again. Option 2A establishes a lifetime 12-year term limit (see Exhibit A to Attachment 5). Thus, once a person served 12 years, they would no longer be eligible to run for Mayor or City Council. This structure avoids the need for the ordinance to address partial terms. It is Staff’s judgment, based on our unscientific research, that such a change would tend to be viewed more favorably by the electorate. Like Option 1A, it applies to the existing Mayor and Councilmembers.
Proposed ballot question for Option 2A:
For the purpose of retaining expertise as the City transitions to electing City Councilmembers from districts and eliminating an existing loophole that allows a person to serve additional terms after a break in service, shall the Dublin Municipal Code be amended to impose a lifetime term limit of 12 years for the Mayor and/or City Councilmembers?
Option 2B: Option 2B (Attachment 6) is identical to Option 2A, except that the amendments would not apply to the current Mayor and Councilmembers. The only changes are the addition of text to the ballot question and proposed ordinance reflecting that policy difference.
Proposed ballot question for Option 2B:
For the purpose of retaining expertise as the City transitions to electing City Councilmembers from districts and eliminating an existing loophole that allows a person to serve additional terms after a break in service, shall the Dublin Municipal Code be amended to impose a lifetime term limit of 12 years for the Mayor and/or City Councilmembers while retaining existing term limits for the current Mayor and City Councilmembers?
802
Option 3A: Option 3A (Attachment 7) takes a different approach. It is based on successful measures in Oxnard and Temple City. To increase the chances of success, the term limits changes are part of a larger package of reforms, labeled the Dublin Government Accountability Act. The reforms includes (a) the term limits amendments proposed in Option 1A, (b) a prohibition on councilmembers and commissioners accepting gifts from lobbyists and city contractors, (c) a prohibition on lobbyists sitting on City commissions, and (d) a requirement to post all City contracts on the City’s website for public review. Like Options 1A and 2A, it applies to the existing Mayor and Councilmembers.
Proposed ballot question for Option 3A:
GOVERNMENT ACCOUNTABILITY ACT.Shall the Dublin Municipal Code be amended to prohibit councilmembers and commissioners from accepting gifts from lobbyists and city contractors; prohibit lobbyists from sitting on City commissions; impose a combined term limit of 12 years for the Mayor and/or City Councilmembers; and require posting of all City contracts on the City’s website for public review? Option 3B: Option 3B (Attachment 8) is identical to Option 3A, except that the amendments would not apply to the current Mayor and Councilmembers.
Proposed ballot question for Option 3B:
GOVERNMENT ACCOUNTABILITY ACT.Shall the Dublin Municipal Code be amended to prohibit councilmembers and commissioners from accepting gifts from lobbyists and city contractors; prohibit lobbyists from sitting on City commissions; impose a combined term limit of 12 years for the Mayor and/or City Councilmembers, while retaining existing term limits for the current Mayor and City Councilmembers; and require posting of all City contracts on the City’s website for public review? The City Council will also need to determine at what election the measures would be considered by the electorate. There are upcoming elections on March 5, 2024 and November 5, 2024. For March 5, 2024, arguments and rebuttal arguments need to be submitted by, respectively, December 7, 2023 and December 18, 2023. For November 5, 2024, arguments and rebuttals must be submitted by August 2 and August 13, 2024 respectively. Areas where the dates need to be included are highlighted in the attachments, and the highlighting would be removed from the executed version of the resolution.
STRATEGIC PLAN INITIATIVE:
None.
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
The City Council Agenda was posted.
803
ENVIRONMENTAL REVIEW:
Placing a City Council and Mayoral term limits measure on the ballot is not a project under CEQA because the proposed changes are, under CEQA Guidelines section 15378(b)(5), an organizational or administrative activity of the City that will not result in direct or indirect physical changes in the environment.
ATTACHMENTS:
1) Research on Term Limits Measures
2) Spectrum of Ballot Questions
3) Resolution Calling Election on Option 1A (with proposed ordinance attached as Exhibit A) 4) Resolution Calling Election on Option 1B (with proposed ordinance attached as Exhibit A) 5) Resolution Calling Election on Option 2A (with proposed ordinance attached as Exhibit A) 6) Resolution Calling Election on Option 2B (with proposed ordinance attached as Exhibit A) 7) Resolution Calling Election on Option 3A (with proposed ordinance attached as Exhibit A) 8) Resolution Calling Election on Option 3B (with proposed ordinance attached as Exhibit A) 804
Date City Ballot Question Results Yes No
11/8/2016 Albany Shall the Albany City Charter be amended to remove term limits for the Albany Unified School District School Board of Education Members, this provision to take effect on January 1, 2023? Defeated 34.28% 65.72%
11/8/2016 Temple City Shall the Temple City Charter be amended to do the following, none of which grant the City new powers: prohibit
Councilmembers and Commissioners from accepting City
contractor or lobbyist gifts without full reimbursement; establish stricter Councilmember contribution and gift
restrictions; impose overall limit of four terms for
Councilmembers; prohibit City contractors, lobbyists, and employees from serving on City commissions; prohibit Council candidates from accepting City contractor or lobbyist
contributions?
Approved 86.35% 13.65%
6/5/2018 Pinole Shall the City’s ordinance limiting the number of successive terms of members of the Pinole City Council be eliminated? A “yes” vote will eliminate the City’s existing term limits for Council members. A “no” vote will keep the City’s existing term limits for Council members in effect.
Defeated 21.14% 78.86%
11/6/2018 Menifee Shall Ordinance 2018-XXX, eliminating term limits applicable to the City Council members of the City of Menifee, and to the Mayor of the City of Menifee, be adopted?
Defeated 28.56% 71.44%
11/6/2018 El Dorado County Shall the measure be adopted to amend the El Dorado County Charter Section 202 regarding Term Limits for Board of
Supervisors to provide that one additional four year term of office be added to extend allowed terms to three, such that Board members shall be limited to three consecutive terms, with no other changes to this Charter Section?
Defeated 23.40% 76.60%
3/3/2020 Oxnard To increase fiscal accountability, prevent special interest influence/political conflicts of interest, improve City ethics, governance, transparency without new City powers, shall Oxnard City Code be amended to prohibit elected officials from accepting gifts from lobbyists/City contractors; impose contribution limits on candidates for all elected office; limit Mayor/Councilmembers to three consecutive four-year terms, require posting monthly financial reports and all expensive City contracts on City’s website for public review?
Approved 82.48% 17.52%
Total 6
Success of Ballot Measures Increasing Term Limits
Information from: https://ballotpedia.org/Local_term_limits_on_the_ballot and https://ballotpedia.org/Temple_City,_California,_Contractor_and_Lobbyist_Gifts_Charter_Amendment,_Measure_AA_(November_201 6)
Attachment 1
805
Spectrum of Ballot Measure Ques�ons
Least Likely Most Likely
Op�on 1A Op�on 1B Op�on 2A Op�on 2B Op�on 3A Op�on 3B
For the purpose of
retaining expertise as the
City transitions to electing
City Councilmembers from
districts and eliminating
an existing loophole that
allows a person to serve
consecutive terms that
exceed 10 years, shall the
Dublin Municipal Code be
amended to impose a
consecutive term limit of
12 years for the Mayor
and/or City
Councilmembers?
For the purpose of
retaining expertise as the
City transitions to electing
City Councilmembers from
districts and eliminating
an existing loophole that
allows a person to serve
additional terms after a
break in service, shall the
Dublin Municipal Code be
amended to impose a
lifetime term limit of 12
years for the Mayor
and/or City
Councilmembers while
retaining existing term
limits for the current
Mayor and City
Councilmembers?
For the purpose of
retaining expertise as the
City transitions to electing
City Councilmembers from
districts and eliminating an
existing loophole that
allows a person to serve
additional terms after a
break in service, shall the
Dublin Municipal Code be
amended to impose a
lifetime term limit of 12
years for the Mayor and/or
City Councilmembers?
For the purpose of
retaining expertise as the
City transitions to electing
City Councilmembers from
districts and eliminating an
existing loophole that
allows a person to serve
additional terms after a
break in service, shall the
Dublin Municipal Code be
amended to impose a
lifetime term limit of 12
years for the Mayor and/or
City Councilmembers while
retaining existing term
limits for the current
Mayor and City
Councilmembers?
GOVERNMENT
ACCOUNTABILITY ACT.
Shall the Dublin Municipal
Code be amended to
prohibit councilmembers
and commissioners from
accepting gifts from
lobbyists and city
contractors; prohibit
lobbyists from sitting on
City commissions; impose a
combined term limit of 12
years for the Mayor and/or
City Councilmembers; and
require posting of all City
contracts on the City’s
website for public review?
GOVERNMENT
ACCOUNTABILITY ACT.
Shall the Dublin Municipal
Code be amended to
prohibit councilmembers
and commissioners from
accepting gifts from
lobbyists and city
contractors; prohibit
lobbyists from sitting on
City commissions; impose a
combined term limit of 12
years for the Mayor and/or
City Councilmembers, while
retaining existing term
limits for the current
Mayor and City
Councilmembers; and
require posting of all City
contracts on the City’s
website for public review?
550
8366.1
Attachment 2
806
Attachment 3
RESOLUTION NO. XX - 23
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN
ORDERING THE SUBMISSION TO THE QUALIFIED ELECTORS OF THE CITY OF
DUBLIN AN ORDINANCE TO AMEND THE TERM LIMITS FOR MAYOR AND CITY COUNCIL; CALLING FOR AN ELECTION TO BE CONSOLIDATED WITH THE STATEWIDE ELECTION TO BE HELD ON _______ 5, 2024; FIXING THE DATE
AND MANNER OF THE ELECTION AND THE PROCEDURE FOR VOTING THEREIN; AND PROVIDING FOR NOTICE THEREFOR
WHEREAS, in November 1996 regulations governing Mayor and City Council term limits were approved by Dublin voters and as a result set the maximum consecutive terms for Mayor and Council at, respectively, four terms and two terms for a total of 8 years, subject to an exception for a partial term that is less than 1 or 2 years, respectively, for the Mayor and City Council; and
WHEREAS, the City’s term limits are among the shortest in Alameda County and the Tri-Valley region; and
WHEREAS, in 2024 the City of Dublin will transition to district-based elections; and
WHEREAS, adding an additional 4 years to the limit on consecutive terms will contribute to the continuity on the City Council that is required with the transition to district- based elections; and
WHEREAS, due to the changes in state law since the 1996 enactment of the term limits that effect the length of Mayor and City Council, a loophole exists in the existing term limits that can allow a person to serve consecutive terms that exceeds 10 years; and
WHEREAS, the measure proposed by this resolution would impose a consecutive term limit of 12 years for the Mayor and/or City Councilmembers and close the existing loophole in the City’s term limits; and
WHEREAS, only the voters can change or amend term limits of the Mayor and City Council; and
WHEREAS, provisions of the Elections Code set forth the procedures and requirements for the submission of measures to the voters, including: consolidation of 807
municipal and statewide elections, placement on the ballot, amendment and withdrawal, submission of ballot arguments, preparation of impartial analysis and rebuttal arguments.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DUBLIN DOES HEREBY RESOLVE AND ORDER AS FOLLOWS:
Section 1. That pursuant to the requirements of the Elections Code of the State of California and other applicable law, there is called and ordered to be held in the City of Dublin, California, on ______ 5, 2024, and the measure that would adopt an ordinance amending the term limits of the Mayor and City Council shall be included on this ballot.
Section 2. The ballot question for the proposed ordinance shall be as follows:
“For the purpose of retaining expertise as the City transitions to electing City Councilmembers from districts and eliminating an existing loophole that allows a person to serve consecutive terms that exceed 10 years, shall the Dublin Municipal Code be amended to impose a consecutive term limit of 12 years for the Mayor and/or City Councilmembers?”
Section 3. The Ordinance to be considered by the voters pursuant to Section 2 of this Resolution is as set forth in Exhibit A.
Section 4. (a) An election on the measure set forth in Section 2 shall be held in consolidation with the statewide election to be held on ________ 5, 2024 and shall be held and conducted in the manner prescribed in section 10418 of the Elections Code of the State of California.
(b) The election on the measure set forth in Section 2 shall be held and conducted, the votes canvassed and the returns made, and the results ascertained and determined as provided for herein and within the Elections Code. (c) The election for the measure set forth Section 2 shall be held as required by law, and the Alameda County Registrar of Voters is authorized to canvas the returns of that election with respect to the votes cast in the City of Dublin. (d) At the next regular meeting of the City Council of the City of Dublin occurring after the returns of the election for the measure set forth in Section 2 have been canvassed and the certification of the results provided to the City Council, the City Council shall cause to be entered in its minutes a statement of the results of the election.
Section 5. (a) In accordance with Elections Code sections 9282 and 9283, arguments submitted for or against the measure shall not exceed 300 words in length, and shall be printed upon the same sheet of paper and mailed to each voter with the sample ballot for the election and may be signed by not more than five persons. 808
(b) In accordance with Elections Code section 9282, the following headings, as appropriate, shall precede the arguments' wording, but shall not be counted in the 300 word maximum: "Argument Against Measure " or "Argument In Favor of Measure " (the blank spaces being filled only with the letter or number, if any, designating the measure).
(c) In accordance with Elections Code section 9283, printed arguments submitted to voters in accordance with section 9282 of the Elections Code shall be filed with the City Clerk, accompanied by the printed name(s) and signature(s) of the author(s) submitting it or, if submitted on behalf of an organization, the name of the organization and the printed name and signature of at least one of its principal officers. Arguments are due in the office of the City Clerk prior to 4:00 p.m., on _____ __, ____. (d) The City Council may authorize, by motion, a member or members to prepare a draft argument against the measure and to return the draft for consideration and adoption by the City Council at a duly noticed meeting of the City Council. In accordance with Elections Code section 9282, any councilmembers authorized by the City Council to do so may sign the argument against the measure. (e) Alternatively, pursuant to Elections Code section Elections Code section 9282(b), the City Council may authorize, by motion, a member or members of the City Council to cooperate with members of the community and/or interested parties and/or organizations to prepare a draft argument against the measure.
Section 6. (a) Pursuant to Elections Code section 9285, when the City Clerk has selected the arguments for and against the measure, that will be printed and distributed to the voters, the City Clerk shall send copies of the argument in favor of the measure to the authors of the argument against, and copies of the argument against to the authors of the argument in favor. Rebuttal arguments shall be printed in the same manner as the direct arguments. Each rebuttal argument shall immediately follow the direct argument that it seeks to rebut.
(b) Rebuttal arguments shall not exceed 250 words and shall not be signed by more than five persons. The persons that sign the rebuttal arguments may be different persons than the persons that signed the direct arguments. (c) The last day for submission of rebuttal arguments for or against the measure shall be by 4:00 p.m. on _____ __, ____.
Section 7. In accordance with Elections Code section 9280, the City Attorney is directed to file with the City Clerk an impartial analysis of the measure, not to exceed 500 words, showing the effect of the measure on the existing law and the operation of the measure.
Section 8. The City of Dublin recognizes that additional costs may be incurred by the 809
County by reason of the measure and agrees to reimburse the County for such costs.
The City Manager is hereby authorized and directed to appropriate the necessary funds to pay for the City's cost of placing the measure on the election ballot.
Section 9. (a) The City Clerk is directed to file a certified copy of this resolution with the Board of Supervisors of Alameda County and the Alameda County Elections Department. The City Clerk is hereby authorized and directed to take all steps necessary to place the measure on the ballot and to cause a synopsis of the measure attached as Section 10 to be published once in a newspaper of general circulation in accordance with California Elections Code. A copy of the measure shall be made available to any voter upon request. The City Clerk is authorized and directed to give further additional notice of the measure in the time, form, and manner required by law. (b) In all particulars not recited in this Resolution, the election shall be held and conducted as provided by law for holding municipal elections.
PASSED, APPROVED AND ADOPTED this , by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Mayor
ATTEST:
City Clerk
5509955.4
810
Exhibit A
AN ORDINANCE OF THE CITY OF DUBLIN
AMENDING SECTION 2.08.050 OF THE DUBLIN MUNICIPAL CODE RELATED TO
TERM LIMITS FOR MAYOR AND CITY COUNCIL
The People of the City of Dublin do ordain as follows:
Section 1. Section 2.08.050 of the Dublin Municipal Code, entitled Term Limits, is amended to read as follows:
“No person shall serve consecutive terms as Councilmember, Mayor, or any combination of Councilmember or Mayor that would exceed 12 years. For the exclusive purpose of measuring duration under this provision and for no other purpose, the terms of Mayor and Councilmembers shall be deemed to start and end on December 1 following the general municipal election at which such office, as the case may be, is regularly filled. Notwithstanding the foregoing, (a) any partial term served by a Councilmember or Mayor shall not be considered a consecutive term if it commenced on or after the first (with respect to the Mayor) or second (with respect to a Councilmember) anniversary of the date on which the former incumbent’s term commenced, and in such cases the initial consecutive term shall be deemed to have commenced under this Section when the Councilmember or Mayor commences his or her subsequent term.” 811
Attachment 4
RESOLUTION NO. XX - 23
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN
ORDERING THE SUBMISSION TO THE QUALIFIED ELECTORS OF THE CITY OF
DUBLIN AN ORDINANCE TO AMEND THE TERM LIMITS FOR MAYOR AND CITY COUNCIL; CALLING FOR AN ELECTION TO BE CONSOLIDATED WITH THE STATEWIDE ELECTION TO BE HELD ON ________ 5, 2024; FIXING THE DATE
AND MANNER OF THE ELECTION AND THE PROCEDURE FOR VOTING THEREIN; AND PROVIDING FOR NOTICE THEREFOR
WHEREAS, in November 1996 regulations governing Mayor and City Council term limits were approved by Dublin voters and as a result set the maximum consecutive terms for Mayor and Council at, respectively, four terms and two terms for a total of 8 years, subject to an exception for a partial term that is less than 1 or 2 years, respectively, for the Mayor and City Council; and
WHEREAS, the City’s term limits are among the shortest in Alameda County and the Tri-Valley region; and
WHEREAS, in 2024 the City of Dublin will transition to district-based elections; and
WHEREAS, adding an additional 4 years to the limit on consecutive terms will contribute to the continuity on the City Council that is required with the transition to district- based elections; and
WHEREAS, due to the changes in state law since the 1996 enactment of the term limits that effect the length of Mayor and City Council, a loophole exists in the existing term limits that can allow a person to serve consecutive terms that exceeds 10 years; and
WHEREAS, the measure proposed by this resolution would impose a consecutive term limit of 12 years for the Mayor and/or City Councilmembers and close the existing loophole in the City’s term limits; and
WHEREAS, only the voters can change or amend term limits of the Mayor and City Council; and
WHEREAS, provisions of the Elections Code set forth the procedures and requirements for the submission of measures to the voters, including: consolidation of 812
municipal and statewide elections, placement on the ballot, amendment and withdrawal, submission of ballot arguments, preparation of impartial analysis and rebuttal arguments.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DUBLIN DOES HEREBY RESOLVE AND ORDER AS FOLLOWS:
Section 1. That pursuant to the requirements of the Elections Code of the State of California and other applicable law, there is called and ordered to be held in the City of Dublin, California, on _______ 5, 2024, and the measure that would adopt an ordinance amending the term limits of the Mayor and City Council shall be included on this ballot.
Section 2. The ballot question for the proposed ordinance shall be as follows:
“For the purpose of retaining expertise as the City transitions to electing City Councilmembers from districts and eliminating an existing loophole that allows a person to serve consecutive terms that exceed 10 years, shall the Dublin Municipal Code be amended to impose a consecutive term limit of 12 years for the Mayor and/or City Councilmembers while retaining existing term limits for current members of the City Council?”
Section 3. The Ordinance to be considered by the voters pursuant to Section 2 of this Resolution is as set forth in Exhibit A.
Section 4. (a) An election on the measure set forth in Section 2 shall be held in consolidation with the statewide election to be held on _______ 5, 2024 and shall be held and conducted in the manner prescribed in section 10418 of the Elections Code of the State of California.
(b) The election on the measure set forth in Section 2 shall be held and conducted, the votes canvassed and the returns made, and the results ascertained and determined as provided for herein and within the Elections Code. (c) The election for the measure set forth Section 2 shall be held as required by law, and the Alameda County Registrar of Voters is authorized to canvas the returns of that election with respect to the votes cast in the City of Dublin. (d) At the next regular meeting of the City Council of the City of Dublin occurring after the returns of the election for the measure set forth in Section 2 have been canvassed and the certification of the results provided to the City Council, the City Council shall cause to be entered in its minutes a statement of the results of the election.
Section 5. (a) In accordance with Elections Code sections 9282 and 9283, arguments submitted for or against the measure shall not exceed 300 words in length, and shall be printed upon the same sheet of paper and mailed to each voter with the sample ballot for the election and may be signed by not more than five persons. 813
(b) In accordance with Elections Code section 9282, the following headings, as appropriate, shall precede the arguments' wording, but shall not be counted in the 300 word maximum: "Argument Against Measure " or "Argument In Favor of Measure " (the blank spaces being filled only with the letter or number, if any, designating the measure).
(c) In accordance with Elections Code section 9283, printed arguments submitted to voters in accordance with section 9282 of the Elections Code shall be filed with the City Clerk, accompanied by the printed name(s) and signature(s) of the author(s) submitting it or, if submitted on behalf of an organization, the name of the organization and the printed name and signature of at least one of its principal officers. Arguments are due in the office of the City Clerk prior to 4:00 p.m., on ______ __, ____. (d) The City Council may authorize, by motion, a member or members to prepare a draft argument against the measure and to return the draft for consideration and adoption by the City Council at a duly noticed meeting of the City Council. In accordance with Elections Code section 9282, any councilmembers authorized by the City Council to do so may sign the argument against the measure. (e) Alternatively, pursuant to Elections Code section Elections Code section 9282(b), the City Council may authorize, by motion, a member or members of the City Council to cooperate with members of the community and/or interested parties and/or organizations to prepare a draft argument against the measure.
Section 6. (a) Pursuant to Elections Code section 9285, when the City Clerk has selected the arguments for and against the measure, that will be printed and distributed to the voters, the City Clerk shall send copies of the argument in favor of the measure to the authors of the argument against, and copies of the argument against to the authors of the argument in favor. Rebuttal arguments shall be printed in the same manner as the direct arguments. Each rebuttal argument shall immediately follow the direct argument that it seeks to rebut.
(b) Rebuttal arguments shall not exceed 250 words and shall not be signed by more than five persons. The persons that sign the rebuttal arguments may be different persons than the persons that signed the direct arguments. (c) The last day for submission of rebuttal arguments for or against the measure shall be by 4:00 p.m. on _______ __, ____.
Section 7. In accordance with Elections Code section 9280, the City Attorney is directed to file with the City Clerk an impartial analysis of the measure, not to exceed 500 words, showing the effect of the measure on the existing law and the operation of the measure.
Section 8. The City of Dublin recognizes that additional costs may be incurred by the 814
County by reason of the measure and agrees to reimburse the County for such costs.
The City Manager is hereby authorized and directed to appropriate the necessary funds to pay for the City's cost of placing the measure on the election ballot.
Section 9. (a) The City Clerk is directed to file a certified copy of this resolution with the Board of Supervisors of Alameda County and the Alameda County Elections Department. The City Clerk is hereby authorized and directed to take all steps necessary to place the measure on the ballot and to cause a synopsis of the measure attached as Section 10 to be published once in a newspaper of general circulation in accordance with California Elections Code. A copy of the measure shall be made available to any voter upon request. The City Clerk is authorized and directed to give further additional notice of the measure in the time, form, and manner required by law. (b) In all particulars not recited in this Resolution, the election shall be held and conducted as provided by law for holding municipal elections.
PASSED, APPROVED AND ADOPTED this , by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Mayor
ATTEST:
City Clerk
5510523.2
815
Exhibit A
AN ORDINANCE OF THE CITY OF DUBLIN
AMENDING SECTION 2.08.050 OF THE DUBLIN MUNICIPAL CODE RELATED TO
TERM LIMITS FOR MAYOR AND CITY COUNCIL
The People of the City of Dublin do ordain as follows:
Section 1. Section 2.08.050 of the Dublin Municipal Code, entitled Term Limits, is amended to read as follows:
“No person shall serve consecutive terms as Councilmember, Mayor, or any combination of Councilmember or Mayor that would exceed 12 years. For the exclusive purpose of measuring duration under this provision and for no other purpose, the terms of Mayor and Councilmembers shall be deemed to start and end on December 1 following the general municipal election at which such office, as the case may be, is regularly filled. Notwithstanding the foregoing, (a) any partial term served by a Councilmember or Mayor shall not be considered a consecutive term if it commenced on or after the first (with respect to the Mayor) or second (with respect to a Councilmember) anniversary of the date on which the former incumbent’s term commenced, and in such cases the initial consecutive term shall be deemed to have commenced under this Section when the Councilmember or Mayor commences his or her subsequent term. Mayors and Councilmembers who were in office on the effective date of this subdivision may serve only the number of terms allowed at the time of the last election before this provision was enacted.”
816
Attachment 5
RESOLUTION NO. XX - 23
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN
ORDERING THE SUBMISSION TO THE QUALIFIED ELECTORS OF THE CITY OF
DUBLIN AN ORDINANCE TO AMEND THE TERM LIMITS FOR MAYOR AND CITY COUNCIL; CALLING FOR AN ELECTION TO BE CONSOLIDATED WITH THE STATEWIDE ELECTION TO BE HELD ON _______ 5, 2024; FIXING THE DATE
AND MANNER OF THE ELECTION AND THE PROCEDURE FOR VOTING THEREIN; AND PROVIDING FOR NOTICE THEREFOR
WHEREAS, in November 1996 regulations governing Mayor and City Council term limits were approved by Dublin voters and as a result set the maximum consecutive terms for Mayor and Council at, respectively, four terms and two terms for a total of 8 years, subject to an exception for a partial term that is less than 1 or 2 years, respectively, for the Mayor and City Council; and
WHEREAS, the City’s term limits are among the shortest in Alameda County and the Tri-Valley region; and
WHEREAS, in 2024 the City of Dublin will transition to district-based elections; and
WHEREAS, adding an additional 4 years to the limit on consecutive terms will contribute to the continuity on the City Council that is required with the transition to district- based elections; and
WHEREAS, due to the changes in state law since the 1996 enactment of the term limits that effect the length of Mayor and City Council, a loophole exists in the existing term limits that can allow a person to serve consecutive terms that exceeds 10 years; and
WHEREAS, the measure proposed by this resolution would impose a consecutive term limit of 12 years for the Mayor and/or City Councilmembers and close the existing loophole in the City’s term limits; and
WHEREAS, only the voters can change or amend term limits of the Mayor and City Council; and
WHEREAS, provisions of the Elections Code set forth the procedures and requirements for the submission of measures to the voters, including: consolidation of 817
municipal and statewide elections, placement on the ballot, amendment and withdrawal, submission of ballot arguments, preparation of impartial analysis and rebuttal arguments.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DUBLIN DOES HEREBY RESOLVE AND ORDER AS FOLLOWS:
Section 1. That pursuant to the requirements of the Elections Code of the State of California and other applicable law, there is called and ordered to be held in the City of Dublin, California, on _______ 5, 2024, and the measure that would adopt an ordinance amending the term limits of the Mayor and City Council shall be included on this ballot.
Section 2. The ballot question for the proposed ordinance shall be as follows:
“For the purpose of retaining expertise as the City transitions to electing City Councilmembers from districts and eliminating an existing loophole that allows a person to serve additional terms after a break in service, shall the Dublin Municipal Code be amended to impose a lifetime term limit of 12 years for the Mayor and/or City Councilmembers?”
Section 3. The Ordinance to be considered by the voters pursuant to Section 2 of this Resolution is as set forth in Exhibit A.
Section 4. (a) An election on the measure set forth in Section 2 shall be held in consolidation with the statewide election to be held on ________ 5, 2024 and shall be held and conducted in the manner prescribed in section 10418 of the Elections Code of the State of California.
(b) The election on the measure set forth in Section 2 shall be held and conducted, the votes canvassed and the returns made, and the results ascertained and determined as provided for herein and within the Elections Code. (c) The election for the measure set forth Section 2 shall be held as required by law, and the Alameda County Registrar of Voters is authorized to canvas the returns of that election with respect to the votes cast in the City of Dublin. (d) At the next regular meeting of the City Council of the City of Dublin occurring after the returns of the election for the measure set forth in Section 2 have been canvassed and the certification of the results provided to the City Council, the City Council shall cause to be entered in its minutes a statement of the results of the election.
Section 5. (a) In accordance with Elections Code sections 9282 and 9283, arguments submitted for or against the measure shall not exceed 300 words in length, and shall be printed upon the same sheet of paper and mailed to each voter with the sample ballot for the election and may be signed by not more than five persons. 818
(b) In accordance with Elections Code section 9282, the following headings, as appropriate, shall precede the arguments' wording, but shall not be counted in the 300 word maximum: "Argument Against Measure " or "Argument In Favor of Measure " (the blank spaces being filled only with the letter or number, if any, designating the measure).
(c) In accordance with Elections Code section 9283, printed arguments submitted to voters in accordance with section 9282 of the Elections Code shall be filed with the City Clerk, accompanied by the printed name(s) and signature(s) of the author(s) submitting it or, if submitted on behalf of an organization, the name of the organization and the printed name and signature of at least one of its principal officers. Arguments are due in the office of the City Clerk prior to 4:00 p.m., on ______ __, ____. (d) The City Council may authorize, by motion, a member or members to prepare a draft argument against the measure and to return the draft for consideration and adoption by the City Council at a duly noticed meeting of the City Council. In accordance with Elections Code section 9282, any councilmembers authorized by the City Council to do so may sign the argument against the measure. (e) Alternatively, pursuant to Elections Code section Elections Code section 9282(b), the City Council may authorize, by motion, a member or members of the City Council to cooperate with members of the community and/or interested parties and/or organizations to prepare a draft argument against the measure.
Section 6. (a) Pursuant to Elections Code section 9285, when the City Clerk has selected the arguments for and against the measure, that will be printed and distributed to the voters, the City Clerk shall send copies of the argument in favor of the measure to the authors of the argument against, and copies of the argument against to the authors of the argument in favor. Rebuttal arguments shall be printed in the same manner as the direct arguments. Each rebuttal argument shall immediately follow the direct argument that it seeks to rebut.
(b) Rebuttal arguments shall not exceed 250 words and shall not be signed by more than five persons. The persons that sign the rebuttal arguments may be different persons than the persons that signed the direct arguments. (c) The last day for submission of rebuttal arguments for or against the measure shall be by 4:00 p.m. on _______ __, ____.
Section 7. In accordance with Elections Code section 9280, the City Attorney is directed to file with the City Clerk an impartial analysis of the measure, not to exceed 500 words, showing the effect of the measure on the existing law and the operation of the measure.
Section 8. The City of Dublin recognizes that additional costs may be incurred by the 819
County by reason of the measure and agrees to reimburse the County for such costs.
The City Manager is hereby authorized and directed to appropriate the necessary funds to pay for the City's cost of placing the measure on the election ballot.
Section 9. (a) The City Clerk is directed to file a certified copy of this resolution with the Board of Supervisors of Alameda County and the Alameda County Elections Department. The City Clerk is hereby authorized and directed to take all steps necessary to place the measure on the ballot and to cause a synopsis of the measure attached as Section 10 to be published once in a newspaper of general circulation in accordance with California Elections Code. A copy of the measure shall be made available to any voter upon request. The City Clerk is authorized and directed to give further additional notice of the measure in the time, form, and manner required by law. (b) In all particulars not recited in this Resolution, the election shall be held and conducted as provided by law for holding municipal elections.
PASSED, APPROVED AND ADOPTED this , by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Mayor
ATTEST:
City Clerk
5510544.2
820
Exhibit A
AN ORDINANCE OF THE CITY OF DUBLIN
AMENDING SECTION 2.08.050 OF THE DUBLIN MUNICIPAL CODE RELATED TO
TERM LIMITS FOR MAYOR AND CITY COUNCIL
The People of the City of Dublin do ordain as follows:
Section 1. Section 2.08.050 of the Dublin Municipal Code, entitled Term Limits, is amended to read as follows:
“During her or his lifetime a person may serve no more than 12 years as Mayor, Councilmember, or both, in any combination of terms. For the exclusive purpose of measuring duration under this provision and for no other purpose, the terms of Mayor and Councilmembers shall be deemed to start and end on December 1 following the general municipal election at which such office, as the case may be, is regularly filled.”
5510544.2
821
822
Attachment 6
RESOLUTION NO. XX - 23
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN
ORDERING THE SUBMISSION TO THE QUALIFIED ELECTORS OF THE CITY OF
DUBLIN AN ORDINANCE TO AMEND THE TERM LIMITS FOR MAYOR AND CITY COUNCIL; CALLING FOR AN ELECTION TO BE CONSOLIDATED WITH THE STATEWIDE ELECTION TO BE HELD ON ______ 5, 2024; FIXING THE DATE AND MANNER OF THE ELECTION AND THE PROCEDURE FOR VOTING THEREIN;
AND PROVIDING FOR NOTICE THEREFOR
WHEREAS, in November 1996 regulations governing Mayor and City Council term limits were approved by Dublin voters and as a result set the maximum consecutive terms for Mayor and Council at, respectively, four terms and two terms for a total of 8 years, subject to an exception for a partial term that is less than 1 or 2 years, respectively, for the Mayor and City Council; and
WHEREAS, the City’s term limits are among the shortest in Alameda County and the Tri-Valley region; and
WHEREAS, in 2024 the City of Dublin will transition to district-based elections; and
WHEREAS, adding an additional 4 years to the limit on consecutive terms will contribute to the continuity on the City Council that is required with the transition to district- based elections; and
WHEREAS, due to the changes in state law since the 1996 enactment of the term limits that effect the length of Mayor and City Council, a loophole exists in the existing term limits that can allow a person to serve a consecutive terms that exceeds 10 years; and
WHEREAS, the measure proposed by this resolution would impose a consecutive term limit of 12 years for the Mayor and/or City Councilmembers and close the existing loophole in the City’s term limits; and
WHEREAS, only the voters can change or amend term limits of the Mayor and City Council; and
WHEREAS, provisions of the Elections Code set forth the procedures and requirements for the submission of measures to the voters, including: consolidation of 823
municipal and statewide elections, placement on the ballot, amendment and withdrawal, submission of ballot arguments, preparation of impartial analysis and rebuttal arguments.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DUBLIN DOES HEREBY RESOLVE AND ORDER AS FOLLOWS:
Section 1. That pursuant to the requirements of the Elections Code of the State of California and other applicable law, there is called and ordered to be held in the City of Dublin, California, on ________ 5, 2024, and the measure that would adopt an ordinance amending the term limits of the Mayor and City Council shall be included on this ballot.
Section 2. The ballot question for the proposed ordinance shall be as follows:
“For the purpose of retaining expertise as the City transitions to electing City Councilmembers from districts and eliminating an existing loophole that allows a person to serve additional terms after a break in service, shall the Dublin Municipal Code be amended to impose a lifetime term limit of 12 years for the Mayor and/or City Councilmembers while retaining existing term limits for the current Mayor and City Councilmembers?”
Section 3. The Ordinance to be considered by the voters pursuant to Section 2 of this Resolution is as set forth in Exhibit A.
Section 4. (a) An election on the measure set forth in Section 2 shall be held in consolidation with the statewide election to be held on _______ 5, 2024 and shall be held and conducted in the manner prescribed in section 10418 of the Elections Code of the State of California.
(b) The election on the measure set forth in Section 2 shall be held and conducted, the votes canvassed and the returns made, and the results ascertained and determined as provided for herein and within the Elections Code. (c) The election for the measure set forth Section 2 shall be held as required by law, and the Alameda County Registrar of Voters is authorized to canvas the returns of that election with respect to the votes cast in the City of Dublin. (d) At the next regular meeting of the City Council of the City of Dublin occurring after the returns of the election for the measure set forth in Section 2 have been canvassed and the certification of the results provided to the City Council, the City Council shall cause to be entered in its minutes a statement of the results of the election.
Section 5. (a) In accordance with Elections Code sections 9282 and 9283, arguments submitted for or against the measure shall not exceed 300 words in length, and shall be printed upon the same sheet of paper and mailed to each voter with the sample ballot for the election and may be signed by not more than five persons. 824
(b) In accordance with Elections Code section 9282, the following headings, as appropriate, shall precede the arguments' wording, but shall not be counted in the 300 word maximum: "Argument Against Measure " or "Argument In Favor of Measure " (the blank spaces being filled only with the letter or number, if any, designating the measure).
(c) In accordance with Elections Code section 9283, printed arguments submitted to voters in accordance with section 9282 of the Elections Code shall be filed with the City Clerk, accompanied by the printed name(s) and signature(s) of the author(s) submitting it or, if submitted on behalf of an organization, the name of the organization and the printed name and signature of at least one of its principal officers. Arguments are due in the office of the City Clerk prior to 4:00 p.m., on ________ ___, ____. (d) The City Council may authorize, by motion, a member or members to prepare a draft argument against the measure and to return the draft for consideration and adoption by the City Council at a duly noticed meeting of the City Council. In accordance with Elections Code section 9282, any councilmembers authorized by the City Council to do so may sign the argument against the measure. (e) Alternatively, pursuant to Elections Code section Elections Code section 9282(b), the City Council may authorize, by motion, a member or members of the City Council to cooperate with members of the community and/or interested parties and/or organizations to prepare a draft argument against the measure.
Section 6. (a) Pursuant to Elections Code section 9285, when the City Clerk has selected the arguments for and against the measure, that will be printed and distributed to the voters, the City Clerk shall send copies of the argument in favor of the measure to the authors of the argument against, and copies of the argument against to the authors of the argument in favor. Rebuttal arguments shall be printed in the same manner as the direct arguments. Each rebuttal argument shall immediately follow the direct argument that it seeks to rebut.
(b) Rebuttal arguments shall not exceed 250 words and shall not be signed by more than five persons. The persons that sign the rebuttal arguments may be different persons than the persons that signed the direct arguments. (c) The last day for submission of rebuttal arguments for or against the measure shall be by 4:00 p.m. on __________ __, ____.
Section 7. In accordance with Elections Code section 9280, the City Attorney is directed to file with the City Clerk an impartial analysis of the measure, not to exceed 500 words, showing the effect of the measure on the existing law and the operation of the measure.
Section 8. The City of Dublin recognizes that additional costs may be incurred by the 825
County by reason of the measure and agrees to reimburse the County for such costs.
The City Manager is hereby authorized and directed to appropriate the necessary funds to pay for the City's cost of placing the measure on the election ballot.
Section 9. (a) The City Clerk is directed to file a certified copy of this resolution with the Board of Supervisors of Alameda County and the Alameda County Elections Department. The City Clerk is hereby authorized and directed to take all steps necessary to place the measure on the ballot and to cause a synopsis of the measure attached as Section 10 to be published once in a newspaper of general circulation in accordance with California Elections Code. A copy of the measure shall be made available to any voter upon request. The City Clerk is authorized and directed to give further additional notice of the measure in the time, form, and manner required by law. (b) In all particulars not recited in this Resolution, the election shall be held and conducted as provided by law for holding municipal elections.
PASSED, APPROVED AND ADOPTED this , by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Mayor
ATTEST:
City Clerk
826
Exhibit A
AN ORDINANCE OF THE CITY OF DUBLIN
AMENDING SECTION 2.08.050 OF THE DUBLIN MUNICIPAL CODE RELATED TO
TERM LIMITS FOR MAYOR AND CITY COUNCIL
The People of the City of Dublin do ordain as follows:
Section 1. Section 2.08.050 of the Dublin Municipal Code, entitled Term Limits, is amended to read as follows:
“During her or his lifetime a person may serve no more than 12 years as Mayor, Councilmember, or both, in any combination of terms. For the exclusive purpose of measuring duration under this provision and for no other purpose, the terms of Mayor and Councilmembers shall be deemed to start and end on December 1 following the general municipal election at which such office, as the case may be, is regularly filled. Mayors and Councilmembers who were in office on the effective date of this subdivision may serve only the number of consecutive terms allowed at the time of the last election before this provision was enacted.” 5510674.2
827
Attachment 7
RESOLUTION NO. XX - 23
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN
ORDERING THE SUBMISSION TO THE QUALIFIED ELECTORS OF THE CITY OF DUBLIN AN ORDINANCE ENTITLED “GOVERNMENT ACCOUNTABILITY ACT” TO 1) PROHIBIT COUNCILMEMBERS AND COMMISSIONERS FROM ACCEPTING GIFTS FROM LOBBYISTS AND CITY CONTRACTORS, 2) PROHIBIT LOBBYISTS FROM SITTING ON CITY COMMISSIONS, 3) AMEND THE TERM LIMITS FOR MAYOR AND CITY COUNCIL, 4) REQUIRE POSTING OF CITY CONTRACTS ON THE CITY’S WEBSITE, 5) CALLING FOR AN ELECTION TO BE CONSOLIDATED WITH THE STATEWIDE ELECTION TO BE HELD ON ______ 5, 2024; 6) FIXING
THE DATE AND MANNER OF THE ELECTION AND THE PROCEDURE FOR VOTING THEREIN; AND 7) PROVIDING FOR NOTICE THEREFOR
WHEREAS, the City of Dublin prioritizes the community’s trust and confidence in City practices, including institutionalizing good government provisions related to fiscal accountability, ethics, and transparency; and
WHEREAS, the City of Dublin is committed to building confidence in its efforts to maintain public accountability and transparency; and
WHEREAS, the Government Accountability Act would prohibit the Dublin Mayor, members of the City Council, City Clerk, City Treasurer, and Planning Commissioners from accepting gifts from lobbyists or City contractors, eliminating related conflicts of interests; and
WHEREAS, the Government Accountability Act would prohibit lobbyists from sitting on City commissions; and
WHEREAS, in November 1996 regulations governing Mayor and City Council term limits were approved by Dublin voters and as a result set the maximum consecutive terms for Mayor and Council at, respectively, four terms and two terms for a total of 8 years, subject to an exception for a partial term that is less than 1 or 2 years, respectively, for the Mayor and City Council; and
WHEREAS, the City’s term limits are among the shortest in Alameda County and the Tri-Valley region; and
WHEREAS, in 2024 the City of Dublin will transition to district-based elections; and
828
WHEREAS, adding an additional 4 years to the limit on consecutive terms will contribute to the continuity on the City Council that is required with the transition to district- based elections; and
WHEREAS, due to the changes in state law since the 1996 enactment of the term limits that effect the length of Mayor and City Council, a loophole exists in the existing term limits that can allow a person to serve a consecutive terms that exceeds 10 years; and
WHEREAS, the measure proposed by this resolution would impose a consecutive term limit of 12 years for the Mayor and/or City Councilmembers and close the existing loophole in the City’s term limits; and
WHEREAS, the Government Accountability Act would require the City to post all City contracts on the City’s website for public review, expanding transparency and the public’s ability to view these types of financial materials; and WHEREAS, the City Council desires to submit a measure entitled the Government Accountability Act to the voters of the City at a Presidential Election to be held on November 5, 2023, and to be consolidated with any other election to be held on that date; and
WHEREAS, provisions of the Elections Code set forth the procedures and requirements for the submission of measures to the voters, including: consolidation of municipal and statewide elections, placement on the ballot, amendment and withdrawal, submission of ballot arguments, preparation of impartial analysis and rebuttal arguments.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DUBLIN DOES HEREBY RESOLVE AND ORDER AS FOLLOWS:
Section 1. That pursuant to the requirements of the Elections Code of the State of California and other applicable law, there is called and ordered to be held in the City of Dublin, California, on _______ 5, 2024, and the measure that would adopt an ordinance amending the term limits of the Mayor and City Council shall be included on this ballot.
Section 2. The ballot question for the proposed ordinance shall be as follows:
“GOVERNMENT ACCOUNTABILITY ACT. Shall the Dublin Municipal Code be amended to prohibit councilmembers and commissioners from accepting gifts from lobbyists and city contractors; prohibit lobbyists from sitting on City commissions; impose a combined term limit of 12 years for the Mayor and/or City Councilmembers; and require posting of all City contracts on the City’s website for public review?”
Section 3. The Ordinance to be considered by the voters pursuant to Section 2 of this Resolution is as set forth in Exhibit A.
829
Section 4. (a) An election on the measure set forth in Section 2 shall be held in consolidation with the statewide election to be held on ________ 5, 2024 and shall be held and conducted in the manner prescribed in section 10418 of the Elections Code of the State of California.
(b) The election on the measure set forth in Section 2 shall be held and conducted, the votes canvassed and the returns made, and the results ascertained and determined as provided for herein and within the Elections Code. (c) The election for the measure set forth Section 2 shall be held as required by law, and the Alameda County Registrar of Voters is authorized to canvas the returns of that election with respect to the votes cast in the City of Dublin. (d) At the next regular meeting of the City Council of the City of Dublin occurring after the returns of the election for the measure set forth in Section 2 have been canvassed and the certification of the results provided to the City Council, the City Council shall cause to be entered in its minutes a statement of the results of the election.
Section 5. (a) In accordance with Elections Code sections 9282 and 9283, arguments submitted for or against the measure shall not exceed 300 words in length, and shall be printed upon the same sheet of paper and mailed to each voter with the sample ballot for the election and may be signed by not more than five persons. (b) In accordance with Elections Code section 9282, the following headings, as appropriate, shall precede the arguments' wording, but shall not be counted in the 300 word maximum: "Argument Against Measure " or "Argument In Favor of Measure " (the blank spaces being filled only with the letter or number, if any, designating the measure).
(c) In accordance with Elections Code section 9283, printed arguments submitted to voters in accordance with section 9282 of the Elections Code shall be filed with the City Clerk, accompanied by the printed name(s) and signature(s) of the author(s) submitting it or, if submitted on behalf of an organization, the name of the organization and the printed name and signature of at least one of its principal officers. Arguments are due in the office of the City Clerk prior to 4:00 p.m., on ______ __, ____. (d) The City Council may authorize, by motion, a member or members to prepare a draft argument against the measure and to return the draft for consideration and adoption by the City Council at a duly noticed meeting of the City Council. In accordance with Elections Code section 9282, any councilmembers authorized by the City Council to do so may sign the argument against the measure. (e) Alternatively, pursuant to Elections Code section Elections Code section 9282(b), the City Council may authorize, by motion, a member or members of the City 830
Council to cooperate with members of the community and/or interested parties and/or organizations to prepare a draft argument against the measure.
Section 6. (a) Pursuant to Elections Code section 9285, when the City Clerk has selected the arguments for and against the measure, that will be printed and distributed to the voters, the City Clerk shall send copies of the argument in favor of the measure to the authors of the argument against, and copies of the argument against to the authors of the argument in favor. Rebuttal arguments shall be printed in the same manner as the direct arguments. Each rebuttal argument shall immediately follow the direct argument that it seeks to rebut.
(b) Rebuttal arguments shall not exceed 250 words and shall not be signed by more than five persons. The persons that sign the rebuttal arguments may be different persons than the persons that signed the direct arguments. (c) The last day for submission of rebuttal arguments for or against the measure shall be by 4:00 p.m. on ______ __, ____.
Section 7. In accordance with Elections Code section 9280, the City Attorney is directed to file with the City Clerk an impartial analysis of the measure, not to exceed 500 words, showing the effect of the measure on the existing law and the operation of the measure.
Section 8. The City of Dublin recognizes that additional costs may be incurred by the County by reason of the measure and agrees to reimburse the County for such costs.
The City Manager is hereby authorized and directed to appropriate the necessary funds to pay for the City's cost of placing the measure on the election ballot.
Section 9. (a) The City Clerk is directed to file a certified copy of this resolution with the Board of Supervisors of Alameda County and the Alameda County Elections Department. The City Clerk is hereby authorized and directed to take all steps necessary to place the measure on the ballot and to cause a synopsis of the measure attached as Section 10 to be published once in a newspaper of general circulation in accordance with California Elections Code. A copy of the measure shall be made available to any voter upon request. The City Clerk is authorized and directed to give further additional notice of the measure in the time, form, and manner required by law. (b) In all particulars not recited in this Resolution, the election shall be held and conducted as provided by law for holding municipal elections. 831
PASSED, APPROVED AND ADOPTED this , by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Mayor
ATTEST:
City Clerk
5510695.2
832
Exhibit A
AN ORDINANCE OF THE CITY OF DUBLIN
ADOPTING THE DUBLIN GOVERNMENT ACCOUNTABILITY ACT
The People of the City of Dublin do ordain as follows:
Section 1. Chapter 2.50 is added to Title 2 of the Dublin Municipal Code to read as follows:
“Chapter 2.50
PROHIBITION ON ACCEPTANCE OF GIFTS FROM AND SERVICE ON
CITY COMMISSIONS BY CITY CONTRACTORS AND LOBBYISTS
Section 2.50.010 Prohibition on Acceptance of Gifts.
No elected City official or member of a City commission may receive any gift from a City contractor or lobbyist.
No person may make, and no elected City official or member of a City commission accept, any gift with the intent to influence an elected City official or members of a City commission in the performance of any official act.
No elected City official or members of a City commission may accept or receive any gift from anyone other than the City for the performance of a specific service or act that the elected City official or members of a City commission is expected to render in the regular course of his or her City duties, or for advice about City processes.
Section 2.50.020 Prohibition from Serving on Commissions.
Lobbyists are not eligible for membership on commissions created by the City Council. A commissioner shall be deemed to have forfeited his or her office upon becoming a lobbyist.
Section 2.50.030 Definitions.
For purposes of this Chapter,
“City contractor” is any person or entity that contracts or is seeking to contract 833
with the City.
“Elected City official” shall mean the Mayor or a member of the City Council. “Gift” is any payment or other benefit that confers a personal benefit for which an elected City official or a member of a City commission does not provide payment or services of equal or greater value. A gift includes a rebate or discount in the price of anything of value unless the rebate or discount is made in the regular course of business to members of the public. An elected City official or a member of a City commission has received or accepted a gift when he or she has actual possession of the gift or when he or she takes any action exercising direction or control over the gift, including discarding the gift or turning it over to another person. This includes gifts that are accepted by someone else on the official’s behalf and gifts made to others at the direction of the official. A “gift” does not include items that are returned (unused) to the donor, for which the official reimburses the donor within 30 days of receipt, or that are donated unused to a non-profit, tax- exempt (501(c)(3)) organization in which the official or immediate family member does not hold a position, or to a government agency within 30 days of receipt without claiming a deduction for tax purposes. “Lobbyist” is any person who during the prior 12 months knowingly attempted to influence an elected City official or members of a City commission in any legislative or administrative action.
A “member of a City commission” is a commissioner of the Planning Commission, the Human Services Commission, the Parks and Community Services Commission, the Heritage and Cultural Arts Commission, and any other Commission that is created by the City Council of the City of Dublin.” Section 2. Chapter 2.52 is added to Title 2 of the Dublin Municipal Code to read as follows:
“Chapter 2.52
TRANSPARENCY IN PUBLIC CONTRACTS AND FINANCIAL
REPORTING
2.52.010 Posting of City Contracts on City Website for Public Review All agreements requiring City Council approval must be posted on the City’s website and be made available to the public prior to City Council 834
action unless the City Attorney determines that to do so would not be in the City’s interest.
2.52.020 Posting of Monthly Financial Statements on City Website.
To help ensure transparency, the City shall timely post on its website monthly financial reporting including budget to actual results for revenues and expenditures for major funds within the City’s annual budget.” Section 4. Section 2.08.050 of the Dublin Municipal Code, entitled Term Limits, is amended to read as follows:
“2.08.050 Term limits.
No person shall serve consecutive terms as Councilmember, Mayor, or any combination of Councilmember or Mayor that would exceed 12 years.
For the exclusive purpose of measuring duration under this provision and for no other purpose, the terms of Mayor and Councilmembers shall be deemed to start and end on December 1 following the general municipal election at which such office, as the case may be, is regularly filled.
Notwithstanding the foregoing, any partial term served by a Councilmember or Mayor shall not be considered a consecutive term if it commenced on or after the first (with respect to the Mayor) or second (with respect to a Councilmember) anniversary of the date on which the former incumbent’s term commenced, and in such cases the initial consecutive term shall be deemed to have commenced under this Section when the Councilmember or Mayor commences his or her subsequent term.”
Section 6. Severability . If any section, subsection, sentence, clause or phrase of this ordinance is for any reason held to be invalid, such decision shall not affect the validity of the remaining portions of this ordinance. The voters of the City of Dublin hereby declares that they would have passed this ordinance and each section, subsection, sentence, clause and phrase thereof, irrespective of the fact that any one or more sections, subsections, sentences, clauses, or phrases be declared invalid. 5510695.2
835
Attachment 8
RESOLUTION NO. XX - 23
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN
ORDERING THE SUBMISSION TO THE QUALIFIED ELECTORS OF THE CITY OF DUBLIN AN ORDINANCE ENTITLED “GOVERNMENT ACCOUNTABILITY ACT” TO 1) PROHIBIT COUNCILMEMBERS AND COMMISSIONERS FROM ACCEPTING GIFTS FROM LOBBYISTS AND CITY CONTRACTORS, 2) PROHIBIT LOBBYISTS FROM SITTING ON CITY COMMISSIONS, 3) AMEND THE TERM LIMITS FOR MAYOR AND CITY COUNCIL, 4) REQUIRE POSTING OF CITY CONTRACTS ON THE CITY’S WEBSITE, 5) CALLING FOR AN ELECTION TO BE CONSOLIDATED WITH THE STATEWIDE ELECTION TO BE HELD ON _______ 5, 2024; 6) FIXING
THE DATE AND MANNER OF THE ELECTION AND THE PROCEDURE FOR VOTING THEREIN; AND 7) PROVIDING FOR NOTICE THEREFOR
WHEREAS, the City of Dublin prioritizes the community’s trust and confidence in City practices, including institutionalizing good government provisions related to fiscal accountability, ethics, and transparency; and
WHEREAS, the City of Dublin is committed to building confidence in its efforts to maintain public accountability and transparency; and
WHEREAS, the Government Accountability Act would prohibit the Dublin Mayor, members of the City Council, City Clerk, City Treasurer, and Planning Commissioners from accepting gifts from lobbyists or City contractors, eliminating related conflicts of interests; and
WHEREAS, the Government Accountability Act would prohibit lobbyists from sitting on City commissions; and
WHEREAS, in November 1996 regulations governing Mayor and City Council term limits were approved by Dublin voters and as a result set the maximum consecutive terms for Mayor and Council at, respectively, four terms and two terms for a total of 8 years, subject to an exception for a partial term that is less than 1 or 2 years, respectively, for the Mayor and City Council; and
WHEREAS, the City’s term limits are among the shortest in Alameda County and the Tri-Valley region; and
WHEREAS, in 2024 the City of Dublin will transition to district-based elections; and
836
WHEREAS, adding an additional 4 years to the limit on consecutive terms will contribute to the continuity on the City Council that is required with the transition to district- based elections; and
WHEREAS, due to the changes in state law since the 1996 enactment of the term limits that effect the length of Mayor and City Council, a loophole exists in the existing term limits that can allow a person to serve consecutive terms that exceeds 10 years; and
WHEREAS, the measure proposed by this resolution would impose a consecutive term limit of 12 years for the Mayor and/or City Councilmembers and close the existing loophole in the City’s term limits; and
WHEREAS, the Government Accountability Act would require the City to post all City contracts on the City’s website for public review, expanding transparency and the public’s ability to view these types of financial materials; and WHEREAS, the City Council desires to submit a measure entitled the Government Accountability Act to the voters of the City at a Presidential Election to be held on ______ 5, 2024, and to be consolidated with any other election to be held on that date; and
WHEREAS, provisions of the Elections Code set forth the procedures and requirements for the submission of measures to the voters, including: consolidation of municipal and statewide elections, placement on the ballot, amendment and withdrawal, submission of ballot arguments, preparation of impartial analysis and rebuttal arguments.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DUBLIN DOES HEREBY RESOLVE AND ORDER AS FOLLOWS:
Section 1. That pursuant to the requirements of the Elections Code of the State of California and other applicable law, there is called and ordered to be held in the City of Dublin, California, on _______ 5, 2024, and the measure that would adopt an ordinance amending the term limits of the Mayor and City Council shall be included on this ballot.
Section 2. The ballot question for the proposed ordinance shall be as follows:
“GOVERNMENT ACCOUNTABILITY ACT. Shall the Dublin Municipal Code be amended to prohibit councilmembers and commissioners from accepting gifts from lobbyists and city contractors; prohibit lobbyists from sitting on City commissions; impose a combined term limit of 12 years for the Mayor and/or City Councilmembers, while retaining existing term limits for current members of the City Council; and require posting of all City contracts on the City’s website for public review?”
837
Section 3. The Ordinance to be considered by the voters pursuant to Section 2 of this Resolution is as set forth in Exhibit A.
Section 4. (a) An election on the measure set forth in Section 2 shall be held in consolidation with the statewide election to be held on ________ 5, 2024 and shall be held and conducted in the manner prescribed in section 10418 of the Elections Code of the State of California.
(b) The election on the measure set forth in Section 2 shall be held and conducted, the votes canvassed and the returns made, and the results ascertained and determined as provided for herein and within the Elections Code. (c) The election for the measure set forth Section 2 shall be held as required by law, and the Alameda County Registrar of Voters is authorized to canvas the returns of that election with respect to the votes cast in the City of Dublin. (d) At the next regular meeting of the City Council of the City of Dublin occurring after the returns of the election for the measure set forth in Section 2 have been canvassed and the certification of the results provided to the City Council, the City Council shall cause to be entered in its minutes a statement of the results of the election.
Section 5. (a) In accordance with Elections Code sections 9282 and 9283, arguments submitted for or against the measure shall not exceed 300 words in length, and shall be printed upon the same sheet of paper and mailed to each voter with the sample ballot for the election and may be signed by not more than five persons. (b) In accordance with Elections Code section 9282, the following headings, as appropriate, shall precede the arguments' wording, but shall not be counted in the 300 word maximum: "Argument Against Measure " or "Argument In Favor of Measure " (the blank spaces being filled only with the letter or number, if any, designating the measure).
(c) In accordance with Elections Code section 9283, printed arguments submitted to voters in accordance with section 9282 of the Elections Code shall be filed with the City Clerk, accompanied by the printed name(s) and signature(s) of the author(s) submitting it or, if submitted on behalf of an organization, the name of the organization and the printed name and signature of at least one of its principal officers. Arguments are due in the office of the City Clerk prior to 4:00 p.m., on ______ __, ____. (d) The City Council may authorize, by motion, a member or members to prepare a draft argument against the measure and to return the draft for consideration and adoption by the City Council at a duly noticed meeting of the City Council. In accordance with Elections Code section 9282, any councilmembers authorized by the City Council to do so may sign the argument against the measure. 838
(e) Alternatively, pursuant to Elections Code section Elections Code section 9282(b), the City Council may authorize, by motion, a member or members of the City Council to cooperate with members of the community and/or interested parties and/or organizations to prepare a draft argument against the measure.
Section 6. (a) Pursuant to Elections Code section 9285, when the City Clerk has selected the arguments for and against the measure, that will be printed and distributed to the voters, the City Clerk shall send copies of the argument in favor of the measure to the authors of the argument against, and copies of the argument against to the authors of the argument in favor. Rebuttal arguments shall be printed in the same manner as the direct arguments. Each rebuttal argument shall immediately follow the direct argument that it seeks to rebut.
(b) Rebuttal arguments shall not exceed 250 words and shall not be signed by more than five persons. The persons that sign the rebuttal arguments may be different persons than the persons that signed the direct arguments. (c) The last day for submission of rebuttal arguments for or against the measure shall be by 4:00 p.m. on ________ __, ____.
Section 7. In accordance with Elections Code section 9280, the City Attorney is directed to file with the City Clerk an impartial analysis of the measure, not to exceed 500 words, showing the effect of the measure on the existing law and the operation of the measure.
Section 8. The City of Dublin recognizes that additional costs may be incurred by the County by reason of the measure and agrees to reimburse the County for such costs.
The City Manager is hereby authorized and directed to appropriate the necessary funds to pay for the City's cost of placing the measure on the election ballot.
Section 9. (a) The City Clerk is directed to file a certified copy of this resolution with the Board of Supervisors of Alameda County and the Alameda County Elections Department. The City Clerk is hereby authorized and directed to take all steps necessary to place the measure on the ballot and to cause a synopsis of the measure attached as Section 10 to be published once in a newspaper of general circulation in accordance with California Elections Code. A copy of the measure shall be made available to any voter upon request. The City Clerk is authorized and directed to give further additional notice of the measure in the time, form, and manner required by law. (b) In all particulars not recited in this Resolution, the election shall be held and conducted as provided by law for holding municipal elections. 839
PASSED, APPROVED AND ADOPTEDthis , by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Mayor
ATTEST:
City Clerk
5510750.2
840
Exhibit A
AN ORDINANCE OF THE CITY OF DUBLIN
ADOPTING THE DUBLIN GOVERNMENT ACCOUNTABILITY ACT
The People of the City of Dublin do ordain as follows:
Section 1. Chapter 2.50 is added to Title 2 of the Dublin Municipal Code to read as follows:
“Chapter 2.50
PROHIBITION ON ACCEPTANCE OF GIFTS FROM AND SERVICE ON
CITY COMMISSIONS BY CITY CONTRACTORS AND LOBBYISTS
Section 2.50.010 Prohibition on Acceptance of Gifts.
No elected City official or member of a City commission may receive any gift from a City contractor or lobbyist.
No person may make, and no elected City official or member of a City commission accept, any gift with the intent to influence an elected City official or members of a City commission in the performance of any official act.
No elected City official or members of a City commission may accept or receive any gift from anyone other than the City for the performance of a specific service or act that the elected City official or members of a City commission is expected to render in the regular course of his or her City duties, or for advice about City processes.
Section 2.50.020 Prohibition from Serving on Commissions.
Lobbyists are not eligible for membership on commissions created by the City Council. A commissioner shall be deemed to have forfeited his or her office upon becoming a lobbyist.
Section 2.50.030 Definitions.
For purposes of this Chapter,
“City contractor” is any person or entity that contracts or is seeking to contract with the City.
841
“Elected City official” shall mean the Mayor or a member of the City Council. “Gift” is any payment or other benefit that confers a personal benefit for which an elected City official or a member of a City commission does not provide payment or services of equal or greater value. A gift includes a rebate or discount in the price of anything of value unless the rebate or discount is made in the regular course of business to members of the public. An elected City official or a member of a City commission has received or accepted a gift when he or she has actual possession of the gift or when he or she takes any action exercising direction or control over the gift, including discarding the gift or turning it over to another person. This includes gifts that are accepted by someone else on the official’s behalf and gifts made to others at the direction of the official. A “gift” does not include items that are returned (unused) to the donor, for which the official reimburses the donor within 30 days of receipt, or that are donated unused to a non-profit, tax- exempt (501(c)(3)) organization in which the official or immediate family member does not hold a position, or to a government agency within 30 days of receipt without claiming a deduction for tax purposes. “Lobbyist” is any person who during the prior 12 months knowingly attempted to influence an elected City official or members of a City commission in any legislative or administrative action.
A “member of a City commission” is a commissioner of the Planning Commission, the Human Services Commission, the Parks and Community Services Commission, the Heritage and Cultural Arts Commission, and any other Commission that is created by the City Council of the City of Dublin.” Section 2. Chapter 2.52 is added to Title 2 of the Dublin Municipal Code to read as follows:
“Chapter 2.52
TRANSPARENCY IN PUBLIC CONTRACTS AND FINANCIAL
REPORTING
2.52.010 Posting of City Contracts on City Website for Public Review All agreements requiring City Council approval must be posted on the City’s website and be made available to the public prior to City Council action unless the City Attorney determines that to do so would not be in the City’s interest.
842
2.52.020 Posting of Monthly Financial Statements on City Website.
To help ensure transparency, the City shall timely post on its website monthly financial reporting including budget to actual results for revenues and expenditures for major funds within the City’s annual budget.” Section 4. Section 2.08.050 of the Dublin Municipal Code, entitled Term Limits, is amended to read as follows:
“2.08.050 Term limits.
No person shall serve consecutive terms as Councilmember, Mayor, or any combination of Councilmember or Mayor that would exceed 12 years. For the exclusive purpose of measuring duration under this provision and for no other purpose, the terms of Mayor and Councilmembers shall be deemed to start and end on December 1 following the general municipal election at which such office, as the case may be, is regularly filled. Notwithstanding the foregoing, any partial term served by a Councilmember or Mayor shall not be considered a consecutive term if it commenced on or after the first (with respect to the Mayor) or second (with respect to a Councilmember) anniversary of the date on which the former incumbent’s term commenced, and in such cases the initial consecutive term shall be deemed to have commenced under this Section when the Councilmember or Mayor commences his or her subsequent term. Mayors and Councilmembers who were in office on the effective date of this subdivision may serve only the number of terms allowed at the time of the last election before this provision was enacted.” Section 6. Severability . If any section, subsection, sentence, clause or phrase of this ordinance is for any reason held to be invalid, such decision shall not affect the validity of the remaining portions of this ordinance. The voters of the City of Dublin hereby declares that they would have passed this ordinance and each section, subsection, sentence, clause and phrase thereof, irrespective of the fact that any one or more sections, subsections, sentences, clauses, or phrases be declared invalid. 5510750.2
843
November 7, 2023
SB 343
Senate Bill 343 mandates supplemental materials
that have been received by the City Clerk’s office that relate to an agenda item after the agenda packets
have been distributed to the City Council be available
to the public.
The attached documents were received in the City
Clerk’s office after distribution of the November 7 ,
2023, Regular City Council meeting agenda packet.
Item 7.2
844
CITY MANAGER’S OFFICE
MEMORANDUM
DATE: November 7, 2023
TO: Honorable Mayor and City Councilmembers
FROM: Linda Smith, City Manager
SUBJECT: Item 7.2 Potential Ballot Measure for March or December 2024
The November 7, 2023, City Council Meeting includes an item to consider a potential ballot measure regarding term limits for the March or December 2024 statewide elections.
The Staff Report, Attachment 2, Attachment 4, and Attachment 8 have been updated to correct errors.
The following are the changes made:
Staff Report (page 4)
Option 1B: Option 1B (Attachment 4) is identical to Option 1A, except that the amendments would not apply to current Mayor and Councilmembers. The only changes are the addition of text to the ballot question and proposed ordinance reflecting that policy difference.
Proposed ballot question for Option 1B:
“For the purpose of retaining expertise as the City transitions to electing City Councilmembers from districts and eliminating an existing loophole that allows a person to serve additional consecutive terms after a break in service that exceed 10 years, shall the Dublin Municipal Code be amended to impose a lifetime consecutive term limit of 12 years for the Mayor and/or City Councilmembers while retaining existing term limits for the current Mayor and City Councilmembers?”
Attachment 2 – Option 1B
For the purpose of retaining expertise as the City transitions to electing City Councilmembers from districts and eliminating an existing loophole that allows a person to serve additional consecutive terms after a break in service that exceed 10 years, shall the Dublin Municipal Code be amended to impose a lifetime consecutive term limit of 12 years for the Mayor and/or City Councilmembers while retaining existing term limits for the current Mayor and City Councilmembers?
845
Attachment 4 – Resolution Calling Election on Option 1B Section 2. The ballot question for the proposed ordinance shall be as follows:
“For the purpose of retaining expertise as the City transitions to electing City Councilmembers from districts and eliminating an existing loophole that allows a person to serve consecutive terms that exceed 10 years, shall the Dublin Municipal Code be amended to impose a consecutive term limit of 12 years for the Mayor and/or City Councilmembers while retaining existing term limits for the current members of the City Council Mayor and Councilmembers?”
Attachment 8 – Resolution Calling Election on Option 3B Section 2. The ballot question for the proposed ordinance shall be as follows:
“GOVERNMENT ACCOUNTABILITY ACT. Shall the Dublin Municipal Code be amended to prohibit councilmembers and commissioners from accepting gifts from lobbyists and city contractors; prohibit lobbyists from sitting on City commissions; impose a combined term limit of 12 years for the Mayor and/or City Councilmembers, while retaining existing term limits for the current members of the City Council Mayor and City Councilmembers; and require posting of all City contracts on the City’s website for public review?”
846
STAFF REPORT
CITY COUNCIL
Agenda Item 7.2
DATE: November 7, 2023
TO: Honorable Mayor and City Councilmembers
FROM: Linda Smith, City Manager
SUBJECT:
Potential Ballot Measures for March or November 2024
Prepared by: Linda Smith, City Manager, and John Bakker, City Attorney
EXECUTIVE SUMMARY:
Based on direction given at the June 6, 2023 and August 15, 2023 City Council meetings, Staff was tasked with presenting proposed ballot measures for the March 5, 2024 Presidential Primary Election. Those proposed measures include a potential amendment to the Open Space Initiative of 2014 (the OSI) and to Mayor and City Council term limits. The owner of the property that would be the subject of the proposed amendment to the OSI desires additional time for outreach and planning on such a ballot measure, and therefore Staff is not presenting a proposed measure to amend the OSI. Several proposed term limits measures are presented for the City Council’s consideration, which could be placed on either the March 5, 2024 or November 5, 2024 statewide elections.
STAFF RECOMMENDATION:
Deliberate and consider (a) doing nothing or (b) adopting, after determining whether to place the matter on the ballot for the March 5, 2024 Presidential Primary Election or the November 5, 2024 General Election, one of the six proposed resolutions calling an election.
FINANCIAL IMPACT:
The exact costs of the election are unknown. The Alameda County Registrar of Voters (ROV) indicates that the costs of a March 5, 2024 primary election would be in the range of $244,328– $314,136 based on the City’s current voter registration of 34,904. Consolidation with elections held by other agencies could potentially reduce the costs further, but the ROV estimates that the costs would remain in the lower end of the range. There are also limited costs associated with printing the ballot materials, which Staff estimates to be approximately $5,000. Because the City is holding a municipal election on November 5, 2024, the additional costs associated with adding a ballot measure would be limited to the costs of printing the ballot materials. 847
The Fiscal Year 2023-2024 budget included $206,000 for a March 2024 primary election.
DESCRIPTION:
At the August 15, 2023 Study Session, the City Council discussed two potential ballot measures for consideration at this meeting — one related to the Open Space Initiative of 2014 and another related to term limits. At that meeting, Staff was directed to bring back ballot language for both measures for discussion on November 7.
Open Space Initiative (OSI)
The Dublin OSI, in general, limits the City’s ability to consider development outside of its existing City limits, but it required the City Council to study whether to place a measure on the ballot to change the City’s General Plan and allow development along the proposed Dublin Boulevard extension between Dublin and Livermore (the Crosby property) and no more than 1,200 feet north of I-580.
Following the Study Session, Staff, as directed by the City Council, consulted with the owner of the Crosby property (Crosby). Crosby conferred with various professionals and informed the City that Crosby desires to proceed with planning for an election in November 2024.
Crosby indicated that it desires more time for community and stakeholder engagement and outreach, including discussions with the City of Livermore, and that a discussion about ballot placement at tonight’s meeting is premature and unnecessary. Given this feedback, Staff determined that it would not be prudent to bring back ballot language at this time for the City Council’s consideration.
Term Limits
On June 6, 2023, the City Council received a report from Staff which included a review of the current Municipal Code provision (shown below), which was approved by the Dublin voters in 1996.
“No person shall serve as Councilmember for more than two (2) consecutive terms, nor shall any person serve as Mayor for more than four (4) consecutive terms. In addition: (A) no person who has served as a Councilmember for one (1) term shall serve more than two (2) terms as Mayor if the terms as Councilmember and Mayor are consecutive; (B) no person who has served as Councilmember for two (2) consecutive terms shall serve a consecutive term as Mayor; (C) no person who has served as Mayor for three (3) or four (4) consecutive terms shall serve a consecutive term as a Councilmember; (D) no person who has served as Mayor for two (2) consecutive terms shall serve more than one (1) succeeding consecutive term as Councilmember; (E) no person who has served consecutive terms as Mayor and Councilmember shall serve more than one (1) more consecutive term as Mayor; and (F) no person who has served consecutive terms as Mayor and Councilmember shall serve another consecutive term as Councilmember. As used herein, a person shall be considered to have 848
served a term of office as a Councilmember if such person has served as a Councilmember for two (2) years plus one (1) day and a person shall be considered to have served a term of office as Mayor if such person has served as Mayor for one (1) year plus one (1) day.”
In addition, the City Council received a report on the term limits in neighboring jurisdictions and the report showed that the City of Dublin had the strictest term limit regulations among the cities in Alameda County and the Tri-Valley. As part of the discussion, concerns were raised about moving from at-large elections to district-based elections and whether having such stringent term limits would ultimately affect the continued strong governance structure in the community.
At that meeting, the City Council, by consensus, directed Staff to return with draft Ordinance language for the November 2024 General Municipal Election ballot that would ask the voters to limit Mayor and Council terms to 12 years, exclude councilmembers elected prior to the change in term limits, and clean up the current language around defining a term.
Then, at its August 15 Study Session, the City Council reviewed the most recent biennial survey and discussed potential ballot measures. At that meeting, the City Council, by a majority, directed Staff to prepare materials for two ballot measures for March 2024, one regarding term limits and the other regarding a potential annexation at the City’s eastern edge. As noted previously, the ballot measure for the OSI will not proceed based on a lack of support from the property owner until November 2024.
Because of the expressed desires at the June 6 meeting and August 15 Study Session, Staff has brought back various options for the City Council’s consideration regarding potential amendments to the term limits ordinance. As a reminder, any amendments to the term limits ordinance require voter approval.
Given the various viewpoints and our research on measures that amend term limits (Attachment 1), Staff has produced six different options for the City Council’s consideration.
Although Staff’s judgments about the likelihood of success are unsupported by scientific polling, we have numbered the options on a spectrum from least (Option 1A) to most (Option 3B) likely to succeed based on our research.
The following summarizes each of the options and includes the proposed ballot question. The proposed legislation and ballot questions are based on the rationales offered by the City Council at the June 6, 2023 meeting and Staff’s review of successful term limits measures.
Attachment 2 includes the spectrum of ballot questions in tabular format.
Option 1A: Option 1A (Attachment 3) is based on the direction given at the June 6, 2023 City Council meeting, with one exception. It would amend the existing term limits ordinance to (a) increase the number of terms from the equivalent of two city council terms (eight years) to the equivalent of three (12 years) and (b) clarify partial terms language to make clear that half 849
of a term or less is not counted toward the term limit. It also includes some additional non- substantive changes proposed by the City Attorney to eliminate ambiguities in the existing ordinance and/or created by changes in state law. Unlike the direction at the June 6 meeting, Option 1A would apply to the current Mayor and Councilmembers.
Proposed ballot question for Option 1A:
For the purpose of retaining expertise as the City transitions to electing City Councilmembers from districts and eliminating an existing loophole that allows a person to serve consecutive terms that exceed 10 years, shall the Dublin Municipal Code be amended to impose a consecutive term limit of 12 years for the Mayor and/or City Councilmembers?
Option 1B: Option 1B (Attachment 4) is identical to Option 1A, except that the amendments would not apply to current Mayor and Councilmembers. The only changes are the addition of text to the ballot question and proposed ordinance reflecting that policy difference.
Proposed ballot question for Option 1B:
“For the purpose of retaining expertise as the City transitions to electing City Councilmembers from districts and eliminating an existing loophole that allows a person to serve additional consecutive terms after a break in service that exceed 10 years, shall the Dublin Municipal Code be amended to impose a lifetime consecutive term limit of 12 years for the Mayor and/or City Councilmembers while retaining existing term limits for the current Mayor and City Councilmembers?”
Option 2A: Option 2A (Attachment 5) makes a significant change to the structure of the City’s term limits. Presently, the ordinance limits consecutive terms. Thus, under the existing term limits, a person, after hitting the limit, can take a period of time off and run again. Option 2A establishes a lifetime 12-year term limit (see Exhibit A to Attachment 5). Thus, once a person served 12 years, they would no longer be eligible to run for Mayor or City Council. This structure avoids the need for the ordinance to address partial terms. It is Staff’s judgment, based on our unscientific research, that such a change would tend to be viewed more favorably by the electorate. Like Option 1A, it applies to the existing Mayor and Councilmembers.
Proposed ballot question for Option 2A:
For the purpose of retaining expertise as the City transitions to electing City Councilmembers from districts and eliminating an existing loophole that allows a person to serve additional terms after a break in service, shall the Dublin Municipal Code be amended to impose a lifetime term limit of 12 years for the Mayor and/or City Councilmembers?
850
Option 2B: Option 2B (Attachment 6) is identical to Option 2A, except that the amendments would not apply to the current Mayor and Councilmembers. The only changes are the addition of text to the ballot question and proposed ordinance reflecting that policy difference.
Proposed ballot question for Option 2B:
For the purpose of retaining expertise as the City transitions to electing City Councilmembers from districts and eliminating an existing loophole that allows a person to serve additional terms after a break in service, shall the Dublin Municipal Code be amended to impose a lifetime term limit of 12 years for the Mayor and/or City Councilmembers while retaining existing term limits for the current Mayor and City Councilmembers?
Option 3A: Option 3A (Attachment 7) takes a different approach. It is based on successful measures in Oxnard and Temple City. To increase the chances of success, the term limits changes are part of a larger package of reforms, labeled the Dublin Government Accountability Act. The reforms includes (a) the term limits amendments proposed in Option 1A, (b) a prohibition on councilmembers and commissioners accepting gifts from lobbyists and city contractors, (c) a prohibition on lobbyists sitting on City commissions, and (d) a requirement to post all City contracts on the City’s website for public review. Like Options 1A and 2A, it applies to the existing Mayor and Councilmembers.
Proposed ballot question for Option 3A:
GOVERNMENT ACCOUNTABILITY ACT. Shall the Dublin Municipal Code be amended to prohibit councilmembers and commissioners from accepting gifts from lobbyists and city contractors; prohibit lobbyists from sitting on City commissions; impose a combined term limit of 12 years for the Mayor and/or City Councilmembers; and require posting of all City contracts on the City’s website for public review? Option 3B: Option 3B (Attachment 8) is identical to Option 3A, except that the amendments would not apply to the current Mayor and Councilmembers.
Proposed ballot question for Option 3B:
GOVERNMENT ACCOUNTABILITY ACT. Shall the Dublin Municipal Code be amended to prohibit councilmembers and commissioners from accepting gifts from lobbyists and city contractors; prohibit lobbyists from sitting on City commissions; impose a combined term limit of 12 years for the Mayor and/or City Councilmembers, while retaining existing term limits for the current Mayor and City Councilmembers; and require posting of all City contracts on the City’s website for public review? 851
The City Council will also need to determine at what election the measures would be considered by the electorate. There are upcoming elections on March 5, 2024 and November 5, 2024. For March 5, 2024, arguments and rebuttal arguments need to be submitted by, respectively, December 7, 2023 and December 18, 2023. For November 5, 2024, arguments and rebuttals must be submitted by August 2 and August 13, 2024 respectively. Areas where the dates need to be included are highlighted in the attachments, and the highlighting would be removed from the executed version of the resolution.
STRATEGIC PLAN INITIATIVE:
None.
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
The City Council Agenda was posted.
ENVIRONMENTAL REVIEW:
Placing a City Council and Mayoral term limits measure on the ballot is not a project under CEQA because the proposed changes are, under CEQA Guidelines section 15378(b)(5), an organizational or administrative activity of the City that will not result in direct or indirect physical changes in the environment.
ATTACHMENTS:
1) Research on Term Limits Measures
2) Spectrum of Ballot Questions
3) Resolution Calling Election on Option 1A (with proposed ordinance attached as Exhibit A) 4) Resolution Calling Election on Option 1B (with proposed ordinance attached as Exhibit A) 5) Resolution Calling Election on Option 2A (with proposed ordinance attached as Exhibit A) 6) Resolution Calling Election on Option 2B (with proposed ordinance attached as Exhibit A) 7) Resolution Calling Election on Option 3A (with proposed ordinance attached as Exhibit A) 8) Resolution Calling Election on Option 3B (with proposed ordinance attached as Exhibit A)
852
Spectrum of Ballot Measure Ques�ons
Least Likely Most Likely
Op�on 1A Op�on 1B Op�on 2A Op�on 2B Op�on 3A Op�on 3B
For the purpose of
retaining expertise as the
City transitions to electing
City Councilmembers from
districts and eliminating
an existing loophole that
allows a person to serve
consecutive terms that
exceed 10 years, shall the
Dublin Municipal Code be
amended to impose a
consecutive term limit of
12 years for the Mayor
and/or City
Councilmembers?
For the purpose of
retaining expertise as the
City transitions to electing
City Councilmembers from
districts and eliminating
an existing loophole that
allows a person to serve
additional consecutive
terms after a break in
service that exceed 10
years, shall the Dublin
Municipal Code be
amended to impose a
lifetime consecutive term
limit of 12 years for the
Mayor and/or City
Councilmembers while
retaining existing term
limits for the current
Mayor and City
Councilmembers?
For the purpose of
retaining expertise as the
City transitions to electing
City Councilmembers from
districts and eliminating an
existing loophole that
allows a person to serve
additional terms after a
break in service, shall the
Dublin Municipal Code be
amended to impose a
lifetime term limit of 12
years for the Mayor and/or
City Councilmembers?
For the purpose of
retaining expertise as the
City transitions to electing
City Councilmembers from
districts and eliminating an
existing loophole that
allows a person to serve
additional terms after a
break in service, shall the
Dublin Municipal Code be
amended to impose a
lifetime term limit of 12
years for the Mayor and/or
City Councilmembers while
retaining existing term
limits for the current
Mayor and City
Councilmembers?
GOVERNMENT
ACCOUNTABILITY ACT.
Shall the Dublin Municipal
Code be amended to
prohibit councilmembers
and commissioners from
accepting gifts from
lobbyists and city
contractors; prohibit
lobbyists from sitting on
City commissions; impose a
combined term limit of 12
years for the Mayor and/or
City Councilmembers; and
require posting of all City
contracts on the City’s
website for public review?
GOVERNMENT
ACCOUNTABILITY ACT.
Shall the Dublin Municipal
Code be amended to
prohibit councilmembers
and commissioners from
accepting gifts from
lobbyists and city
contractors; prohibit
lobbyists from sitting on
City commissions; impose a
combined term limit of 12
years for the Mayor and/or
City Councilmembers, while
retaining existing term
limits for the current
Mayor and City
Councilmembers; and
require posting of all City
contracts on the City’s
website for public review?
550
8366.3
Attachment 2
853
Attachment 4
RESOLUTION NO. XX - 23
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN
ORDERING THE SUBMISSION TO THE QUALIFIED ELECTORS OF THE CITY OF
DUBLIN AN ORDINANCE TO AMEND THE TERM LIMITS FOR MAYOR AND CITY COUNCIL; CALLING FOR AN ELECTION TO BE CONSOLIDATED WITH THE STATEWIDE ELECTION TO BE HELD ON ________ 5, 2024; FIXING THE DATE
AND MANNER OF THE ELECTION AND THE PROCEDURE FOR VOTING THEREIN; AND PROVIDING FOR NOTICE THEREFOR
WHEREAS, in November 1996 regulations governing Mayor and City Council term limits were approved by Dublin voters and as a result set the maximum consecutive terms for Mayor and Council at, respectively, four terms and two terms for a total of 8 years, subject to an exception for a partial term that is less than 1 or 2 years, respectively, for the Mayor and City Council; and
WHEREAS, the City’s term limits are among the shortest in Alameda County and the Tri-Valley region; and
WHEREAS, in 2024 the City of Dublin will transition to district-based elections; and
WHEREAS, adding an additional 4 years to the limit on consecutive terms will contribute to the continuity on the City Council that is required with the transition to district- based elections; and
WHEREAS, due to the changes in state law since the 1996 enactment of the term limits that effect the length of Mayor and City Council, a loophole exists in the existing term limits that can allow a person to serve consecutive terms that exceeds 10 years; and
WHEREAS, the measure proposed by this resolution would impose a consecutive term limit of 12 years for the Mayor and/or City Councilmembers and close the existing loophole in the City’s term limits; and
WHEREAS, only the voters can change or amend term limits of the Mayor and City Council; and
WHEREAS, provisions of the Elections Code set forth the procedures and requirements for the submission of measures to the voters, including: consolidation of 854
municipal and statewide elections, placement on the ballot, amendment and withdrawal, submission of ballot arguments, preparation of impartial analysis and rebuttal arguments.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DUBLIN DOES HEREBY RESOLVE AND ORDER AS FOLLOWS:
Section 1. That pursuant to the requirements of the Elections Code of the State of California and other applicable law, there is called and ordered to be held in the City of Dublin, California, on _______ 5, 2024, and the measure that would adopt an ordinance amending the term limits of the Mayor and City Council shall be included on this ballot.
Section 2. The ballot question for the proposed ordinance shall be as follows:
“For the purpose of retaining expertise as the City transitions to electing City Councilmembers from districts and eliminating an existing loophole that allows a person to serve consecutive terms that exceed 10 years, shall the Dublin Municipal Code be amended to impose a consecutive term limit of 12 years for the Mayor and/or City Councilmembers while retaining existing term limits for the current members of the City Council Mayor and Councilmembers?”
Section 3. The Ordinance to be considered by the voters pursuant to Section 2 of this Resolution is as set forth in Exhibit A.
Section 4. (a) An election on the measure set forth in Section 2 shall be held in consolidation with the statewide election to be held on _______ 5, 2024 and shall be held and conducted in the manner prescribed in section 10418 of the Elections Code of the State of California.
(b) The election on the measure set forth in Section 2 shall be held and conducted, the votes canvassed and the returns made, and the results ascertained and determined as provided for herein and within the Elections Code.
(c) The election for the measure set forth Section 2 shall be held as required by law, and the Alameda County Registrar of Voters is authorized to canvas the returns of that election with respect to the votes cast in the City of Dublin.
(d) At the next regular meeting of the City Council of the City of Dublin occurring after the returns of the election for the measure set forth in Section 2 have been canvassed and the certification of the results provided to the City Council, the City Council shall cause to be entered in its minutes a statement of the results of the election.
Section 5. (a) In accordance with Elections Code sections 9282 and 9283, arguments submitted for or against the measure shall not exceed 300 words in length, and shall be printed upon the same sheet of paper and mailed to each voter with the sample ballot for the election and may be signed by not more than five persons. 855
(b) In accordance with Elections Code section 9282, the following headings, as appropriate, shall precede the arguments' wording, but shall not be counted in the 300 word maximum: "Argument Against Measure " or "Argument In Favor of Measure " (the blank spaces being filled only with the letter or number, if any, designating the measure).
(c) In accordance with Elections Code section 9283, printed arguments submitted to voters in accordance with section 9282 of the Elections Code shall be filed with the City Clerk, accompanied by the printed name(s) and signature(s) of the author(s) submitting it or, if submitted on behalf of an organization, the name of the organization and the printed name and signature of at least one of its principal officers. Arguments are due in the office of the City Clerk prior to 4:00 p.m., on ______ __, ____.
(d) The City Council may authorize, by motion, a member or members to prepare a draft argument against the measure and to return the draft for consideration and adoption by the City Council at a duly noticed meeting of the City Council. In accordance with Elections Code section 9282, any councilmembers authorized by the City Council to do so may sign the argument against the measure.
(e) Alternatively, pursuant to Elections Code section Elections Code section 9282(b), the City Council may authorize, by motion, a member or members of the City Council to cooperate with members of the community and/or interested parties and/or organizations to prepare a draft argument against the measure.
Section 6.
(a) Pursuant to Elections Code section 9285, when the City Clerk has selected the arguments for and against the measure, that will be printed and distributed to the voters, the City Clerk shall send copies of the argument in favor of the measure to the authors of the argument against, and copies of the argument against to the authors of the argument in favor. Rebuttal arguments shall be printed in the same manner as the direct arguments. Each rebuttal argument shall immediately follow the direct argument that it seeks to rebut.
(b) Rebuttal arguments shall not exceed 250 words and shall not be signed by more than five persons. The persons that sign the rebuttal arguments may be different persons than the persons that signed the direct arguments.
(c) The last day for submission of rebuttal arguments for or against the measure shall be by 4:00 p.m. on _______ __, ____.
Section 7. In accordance with Elections Code section 9280, the City Attorney is directed to file with the City Clerk an impartial analysis of the measure, not to exceed 500 words, showing the effect of the measure on the existing law and the operation of the measure.
Section 8. The City of Dublin recognizes that additional costs may be incurred by the 856
County by reason of the measure and agrees to reimburse the County for such costs.
The City Manager is hereby authorized and directed to appropriate the necessary funds to pay for the City's cost of placing the measure on the election ballot.
Section 9. (a) The City Clerk is directed to file a certified copy of this resolution with the Board of Supervisors of Alameda County and the Alameda County Elections Department.
The City Clerk is hereby authorized and directed to take all steps necessary to place the measure on the ballot and to cause a synopsis of the measure attached as Section 10 to be published once in a newspaper of general circulation in accordance with California Elections Code. A copy of the measure shall be made available to any voter upon request.
The City Clerk is authorized and directed to give further additional notice of the measure in the time, form, and manner required by law.
(b) In all particulars not recited in this Resolution, the election shall be held and conducted as provided by law for holding municipal elections.
PASSED, APPROVED AND ADOPTED this , by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Mayor
ATTEST:
City Clerk
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Exhibit A
AN ORDINANCE OF THE CITY OF DUBLIN
AMENDING SECTION 2.08.050 OF THE DUBLIN MUNICIPAL CODE RELATED TO
TERM LIMITS FOR MAYOR AND CITY COUNCIL
The People of the City of Dublin do ordain as follows:
Section 1. Section 2.08.050 of the Dublin Municipal Code, entitled Term Limits, is amended to read as follows:
“No person shall serve consecutive terms as Councilmember, Mayor, or any combination of Councilmember or Mayor that would exceed 12 years. For the exclusive purpose of measuring duration under this provision and for no other purpose, the terms of Mayor and Councilmembers shall be deemed to start and end on December 1 following the general municipal election at which such office, as the case may be, is regularly filled. Notwithstanding the foregoing, (a) any partial term served by a Councilmember or Mayor shall not be considered a consecutive term if it commenced on or after the first (with respect to the Mayor) or second (with respect to a Councilmember) anniversary of the date on which the former incumbent’s term commenced, and in such cases the initial consecutive term shall be deemed to have commenced under this Section when the Councilmember or Mayor commences his or her subsequent term. Mayors and Councilmembers who were in office on the effective date of this subdivision may serve only the number of terms allowed at the time of the last election before this provision was enacted.”
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Attachment 8
RESOLUTION NO. XX - 23
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN
ORDERING THE SUBMISSION TO THE QUALIFIED ELECTORS OF THE CITY OF DUBLIN AN ORDINANCE ENTITLED “GOVERNMENT ACCOUNTABILITY ACT” TO 1) PROHIBIT COUNCILMEMBERS AND COMMISSIONERS FROM ACCEPTING GIFTS FROM LOBBYISTS AND CITY CONTRACTORS, 2) PROHIBIT LOBBYISTS FROM SITTING ON CITY COMMISSIONS, 3) AMEND THE TERM LIMITS FOR MAYOR AND CITY COUNCIL, 4) REQUIRE POSTING OF CITY CONTRACTS ON THE CITY’S WEBSITE, 5) CALLING FOR AN ELECTION TO BE CONSOLIDATED WITH THE STATEWIDE ELECTION TO BE HELD ON _______ 5, 2024; 6) FIXING
THE DATE AND MANNER OF THE ELECTION AND THE PROCEDURE FOR VOTING THEREIN; AND 7) PROVIDING FOR NOTICE THEREFOR
WHEREAS, the City of Dublin prioritizes the community’s trust and confidence in City practices, including institutionalizing good government provisions related to fiscal accountability, ethics, and transparency; and
WHEREAS, the City of Dublin is committed to building confidence in its efforts to maintain public accountability and transparency; and
WHEREAS, the Government Accountability Act would prohibit the Dublin Mayor, members of the City Council, City Clerk, City Treasurer, and Planning Commissioners from accepting gifts from lobbyists or City contractors, eliminating related conflicts of interests; and
WHEREAS, the Government Accountability Act would prohibit lobbyists from sitting on City commissions; and
WHEREAS, in November 1996 regulations governing Mayor and City Council term limits were approved by Dublin voters and as a result set the maximum consecutive terms for Mayor and Council at, respectively, four terms and two terms for a total of 8 years, subject to an exception for a partial term that is less than 1 or 2 years, respectively, for the Mayor and City Council; and
WHEREAS, the City’s term limits are among the shortest in Alameda County and the Tri-Valley region; and
WHEREAS, in 2024 the City of Dublin will transition to district-based elections; and
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WHEREAS, adding an additional 4 years to the limit on consecutive terms will contribute to the continuity on the City Council that is required with the transition to district- based elections; and
WHEREAS, due to the changes in state law since the 1996 enactment of the term limits that effect the length of Mayor and City Council, a loophole exists in the existing term limits that can allow a person to serve consecutive terms that exceeds 10 years; and
WHEREAS, the measure proposed by this resolution would impose a consecutive term limit of 12 years for the Mayor and/or City Councilmembers and close the existing loophole in the City’s term limits; and
WHEREAS, the Government Accountability Act would require the City to post all City contracts on the City’s website for public review, expanding transparency and the public’s ability to view these types of financial materials; and
WHEREAS, the City Council desires to submit a measure entitled the Government Accountability Act to the voters of the City at a Presidential Election to be held on ______ 5, 2024, and to be consolidated with any other election to be held on that date; and
WHEREAS, provisions of the Elections Code set forth the procedures and requirements for the submission of measures to the voters, including: consolidation of municipal and statewide elections, placement on the ballot, amendment and withdrawal, submission of ballot arguments, preparation of impartial analysis and rebuttal arguments.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DUBLIN DOES HEREBY RESOLVE AND ORDER AS FOLLOWS:
Section 1. That pursuant to the requirements of the Elections Code of the State of California and other applicable law, there is called and ordered to be held in the City of Dublin, California, on _______ 5, 2024, and the measure that would adopt an ordinance amending the term limits of the Mayor and City Council shall be included on this ballot.
Section 2. The ballot question for the proposed ordinance shall be as follows:
“GOVERNMENT ACCOUNTABILITY ACT. Shall the Dublin Municipal Code be amended to prohibit councilmembers and commissioners from accepting gifts from lobbyists and city contractors; prohibit lobbyists from sitting on City commissions; impose a combined term limit of 12 years for the Mayor and/or City Councilmembers, while retaining existing term limits for the current members of the City Council Mayor and City Councilmembers ; and require posting of all City contracts on the City’s website for public review?” 860
Section 3. The Ordinance to be considered by the voters pursuant to Section 2 of this Resolution is as set forth in Exhibit A.
Section 4. (a) An election on the measure set forth in Section 2 shall be held in consolidation with the statewide election to be held on ________ 5, 2024 and shall be held and conducted in the manner prescribed in section 10418 of the Elections Code of the State of California.
(b) The election on the measure set forth in Section 2 shall be held and conducted, the votes canvassed and the returns made, and the results ascertained and determined as provided for herein and within the Elections Code.
(c) The election for the measure set forth Section 2 shall be held as required by law, and the Alameda County Registrar of Voters is authorized to canvas the returns of that election with respect to the votes cast in the City of Dublin.
(d) At the next regular meeting of the City Council of the City of Dublin occurring after the returns of the election for the measure set forth in Section 2 have been canvassed and the certification of the results provided to the City Council, the City Council shall cause to be entered in its minutes a statement of the results of the election.
Section 5. (a) In accordance with Elections Code sections 9282 and 9283, arguments submitted for or against the measure shall not exceed 300 words in length, and shall be printed upon the same sheet of paper and mailed to each voter with the sample ballot for the election and may be signed by not more than five persons.
(b) In accordance with Elections Code section 9282, the following headings, as appropriate, shall precede the arguments' wording, but shall not be counted in the 300 word maximum: "Argument Against Measure " or "Argument In Favor of Measure " (the blank spaces being filled only with the letter or number, if any, designating the measure).
(c) In accordance with Elections Code section 9283, printed arguments submitted to voters in accordance with section 9282 of the Elections Code shall be filed with the City Clerk, accompanied by the printed name(s) and signature(s) of the author(s) submitting it or, if submitted on behalf of an organization, the name of the organization and the printed name and signature of at least one of its principal officers. Arguments are due in the office of the City Clerk prior to 4:00 p.m., on ______ __, ____.
(d) The City Council may authorize, by motion, a member or members to prepare a draft argument against the measure and to return the draft for consideration and adoption by the City Council at a duly noticed meeting of the City Council. In accordance with Elections Code section 9282, any councilmembers authorized by the City Council to do so may sign the argument against the measure. 861
(e) Alternatively, pursuant to Elections Code section Elections Code section 9282(b), the City Council may authorize, by motion, a member or members of the City Council to cooperate with members of the community and/or interested parties and/or organizations to prepare a draft argument against the measure.
Section 6. (a) Pursuant to Elections Code section 9285, when the City Clerk has selected the arguments for and against the measure, that will be printed and distributed to the voters, the City Clerk shall send copies of the argument in favor of the measure to the authors of the argument against, and copies of the argument against to the authors of the argument in favor. Rebuttal arguments shall be printed in the same manner as the direct arguments. Each rebuttal argument shall immediately follow the direct argument that it seeks to rebut.
(b) Rebuttal arguments shall not exceed 250 words and shall not be signed by more than five persons. The persons that sign the rebuttal arguments may be different persons than the persons that signed the direct arguments.
(c) The last day for submission of rebuttal arguments for or against the measure shall be by 4:00 p.m. on ________ __, ____.
Section 7. In accordance with Elections Code section 9280, the City Attorney is directed to file with the City Clerk an impartial analysis of the measure, not to exceed 500 words, showing the effect of the measure on the existing law and the operation of the measure.
Section 8. The City of Dublin recognizes that additional costs may be incurred by the County by reason of the measure and agrees to reimburse the County for such costs.
The City Manager is hereby authorized and directed to appropriate the necessary funds to pay for the City's cost of placing the measure on the election ballot.
Section 9. (a) The City Clerk is directed to file a certified copy of this resolution with the Board of Supervisors of Alameda County and the Alameda County Elections Department.
The City Clerk is hereby authorized and directed to take all steps necessary to place the measure on the ballot and to cause a synopsis of the measure attached as Section 10 to be published once in a newspaper of general circulation in accordance with California Elections Code. A copy of the measure shall be made available to any voter upon request.
The City Clerk is authorized and directed to give further additional notice of the measure in the time, form, and manner required by law.
(b) In all particulars not recited in this Resolution, the election shall be held and conducted as provided by law for holding municipal elections.
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PASSED, APPROVED AND ADOPTED this , by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Mayor
ATTEST:
City Clerk
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Exhibit A
AN ORDINANCE OF THE CITY OF DUBLIN
ADOPTING THE DUBLIN GOVERNMENT ACCOUNTABILITY ACT
The People of the City of Dublin do ordain as follows:
Section 1. Chapter 2.50 is added to Title 2 of the Dublin Municipal Code to read as follows:
“Chapter 2.50
PROHIBITION ON ACCEPTANCE OF GIFTS FROM AND SERVICE ON
CITY COMMISSIONS BY CITY CONTRACTORS AND LOBBYISTS
Section 2.50.010 Prohibition on Acceptance of Gifts.
No elected City official or member of a City commission may receive any gift from a City contractor or lobbyist.
No person may make, and no elected City official or member of a City commission accept, any gift with the intent to influence an elected City official or members of a City commission in the performance of any official act.
No elected City official or members of a City commission may accept or receive any gift from anyone other than the City for the performance of a specific service or act that the elected City official or members of a City commission is expected to render in the regular course of his or her City duties, or for advice about City processes.
Section 2.50.020 Prohibition from Serving on Commissions.
Lobbyists are not eligible for membership on commissions created by the City Council. A commissioner shall be deemed to have forfeited his or her office upon becoming a lobbyist.
Section 2.50.030 Definitions.
For purposes of this Chapter,
“City contractor” is any person or entity that contracts or is seeking to contract with the City.
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“Elected City official” shall mean the Mayor or a member of the City Council.
“Gift” is any payment or other benefit that confers a personal benefit for which an elected City official or a member of a City commission does not provide payment or services of equal or greater value. A gift includes a rebate or discount in the price of anything of value unless the rebate or discount is made in the regular course of business to members of the public. An elected City official or a member of a City commission has received or accepted a gift when he or she has actual possession of the gift or when he or she takes any action exercising direction or control over the gift, including discarding the gift or turning it over to another person. This includes gifts that are accepted by someone else on the official’s behalf and gifts made to others at the direction of the official. A “gift” does not include items that are returned (unused) to the donor, for which the official reimburses the donor within 30 days of receipt, or that are donated unused to a non-profit, tax- exempt (501(c)(3)) organization in which the official or immediate family member does not hold a position, or to a government agency within 30 days of receipt without claiming a deduction for tax purposes.
“Lobbyist” is any person who during the prior 12 months knowingly attempted to influence an elected City official or members of a City commission in any legislative or administrative action.
A “member of a City commission” is a commissioner of the Planning Commission, the Human Services Commission, the Parks and Community Services Commission, the Heritage and Cultural Arts Commission, and any other Commission that is created by the City Council of the City of Dublin.”
Section 2. Chapter 2.52 is added to Title 2 of the Dublin Municipal Code to read as follows:
“Chapter 2.52
TRANSPARENCY IN PUBLIC CONTRACTS AND FINANCIAL
REPORTING
2.52.010 Posting of City Contracts on City Website for Public Review
All agreements requiring City Council approval must be posted on the City’s website and be made available to the public prior to City Council action unless the City Attorney determines that to do so would not be in the City’s interest.
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2.52.020 Posting of Monthly Financial Statements on City Website.
To help ensure transparency, the City shall timely post on its website monthly financial reporting including budget to actual results for revenues and expenditures for major funds within the City’s annual budget.” Section 4. Section 2.08.050 of the Dublin Municipal Code, entitled Term Limits, is amended to read as follows:
“2.08.050 Term limits.
No person shall serve consecutive terms as Councilmember, Mayor, or any combination of Councilmember or Mayor that would exceed 12 years. For the exclusive purpose of measuring duration under this provision and for no other purpose, the terms of Mayor and Councilmembers shall be deemed to start and end on December 1 following the general municipal election at which such office, as the case may be, is regularly filled. Notwithstanding the foregoing, any partial term served by a Councilmember or Mayor shall not be considered a consecutive term if it commenced on or after the first (with respect to the Mayor) or second (with respect to a Councilmember) anniversary of the date on which the former incumbent’s term commenced, and in such cases the initial consecutive term shall be deemed to have commenced under this Section when the Councilmember or Mayor commences his or her subsequent term. Mayors and Councilmembers who were in office on the effective date of this subdivision may serve only the number of terms allowed at the time of the last election before this provision was enacted.”
Section 6. Severability. If any section, subsection, sentence, clause or phrase of this ordinance is for any reason held to be invalid, such decision shall not affect the validity of the remaining portions of this ordinance. The voters of the City of Dublin hereby declares that they would have passed this ordinance and each section, subsection, sentence, clause and phrase thereof, irrespective of the fact that any one or more sections, subsections, sentences, clauses, or phrases be declared invalid.
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November 7, 2023
Mayor Hernandez
Vice-Mayor McCorriston
Council-member Josey
Council-member Hu
Council-member Qaadri
Sent via Email Only
Dear Mayor Hernandez and Council Members,
I am writing to express support from Local 55 regarding potential changes to the Mayor and City Council elections. The six options presented all have merit and are sound policy for any city.
Local 55 would encourage support of option 3A for the March primary election. This is good governance and provides for stability for those currently elected to the council as well as eliminating confusion in November when district elections take place for the first time.
Thank you for taking the time to consider this matter, and I look forward to positive change moving forward.
Sincerely,
Sean Burrows
President
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