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EXHIBIT “B”
CITY OF FONTANA
COMMUNITY FACILITIES DISTRICT NO. 87
(EL PASEO)
RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAXES
(Summary – Full text available in the Financial Services Division)
The Resolution of Annual Levy refers to this Exhibit f or an explanation of the rate and method of apportionment of the special tax so as to allow each landowner or resident within the district to estimate the annual amount that would be required for payment.
A Special Tax as hereinafter defined shall be levied on all Assessor’s Parcels of Taxable Property in City of Fontana Community Facilities District No. 87 (El Paseo) (“CFD No. 87”) and collected each fiscal year commencing in Fiscal Year 2019-2020, in an amount determined by the City Council of the City of Fontana (the “Council”) through the application of the application of the Rate and Method of Apportionment as described below. All o f the real property in CFD No. 87, unless exempted by law or by the provisions hereof, shall be taxed for the purposes, to the extent and in the manner herein provided.
The rate and method of apportionment of the special tax for 2022-2023 shall be as follows.
I. SPECIAL TAXES FOR PUBLIC IMPROVEMENTS:
Assigned Actual Tax
Special Tax Tax Rate Amount
Land Use Class (square feet) Unit FY 2022-2023 FY 2022-2023 FY 2022-2023
1 – Detached - 2,550 or Greater Unit $2,553.00 $2,553.00 $ 0 2 – Detached - 2,350 to <2,550 Unit 2,499.00 2,499.00 67,473 3 – Detached - 2,150 to <2,350 Unit 2,407.00 2,407.00 52,954 4 – Detached - 1,950 to <2,150 Unit 2,374.00 2,374.00 113,952 5 – Detached - 1,750 to <1,950 Unit 2,316.00 2,316.00 30,108 6 – Detached - Less than 1,750 Unit 2,260.00 2,260.00 0 7 – Attached - 1,750 or Greater Unit 2,083.00 2,083.00 0 8 – Attached - 1,600 to <1,750 Unit 2,032.00 2,032.00 101,600 9 – Attached - 1,450 to <1,600 Unit 1,968.00 1,968.00 98,400 10 – Attached - Less than 1,450 Unit 1,854.00 1,854.00 57,474 11 – Non-Residential Property Acre 55,260.00 55,260.00 0 Undeveloped Property Acre 65,010.00 65,010.00 0
$521,961
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Method of Apportionment of Special Tax A
Commencing with Fiscal year 2019-2020 and for each following Fiscal Year, the CFD Administrator shall determine the Special Tax Requirement for Facilities and shall provide for the levy of the Facilities Special Tax each Fi scal Year as follows:
First: The Facilities Special Tax shall be l evied on each Ass essor’s Parcel of Developed Property in an amount equal to 100% of the applicable Assigned Facilities Special Tax;
Second: If additional monies are needed to satisfy th e Special Tax Requirement for Facilities after the first step has be en completed, the Facilities Special Tax shall be levied Proportionately on each Assessor’s Parcel of Undev eloped Property at up to 100% of the Maximum Facilities Special Tax for Undevelop ed Property;
Third: If additional monies are needed to satisfy the Special Tax Requirement for Facilities after the first two steps have been completed, then the levy of the Facilities Special Tax on each Assessor’s Parcel of Developed Property whose Maximum Special Tax is determined through the application of the Backup Facilities Special Tax shall be increased in equal percentages from the Assigned Facilities Special Tax up to the Maximum Facilities Special Tax for each such Assessor’s Parcel;
Fourth: If additional monies are needed to satisfy the Special Tax Requirem ent for Facilities after the first three st eps have been completed, then the Facilities Special Tax shall be levied Proportionately on each Assessor’s Parcel of Taxable Public Property at up to 100% the Maximum Facilities Special Tax A for Taxable Public Property, as needed to satisfy the Special Tax Requirement for Facilities;
Notwithstanding the above the C FD Administrator shall, in any Fiscal Year, calculate a levy Proportionately less than 100% of the Assigned Facilities Special Tax in step one (above) , when (i) the CFD Administrator is no long er required to provide for the levy of the Facilities Special Ta x pursuant to steps two through four above in order to meet the Special Tax Requirement for Facilities; and (ii) all authorized CFD No. 87 Bonds have already been iss ued or the Council has covenanted that it shall not issue any additional CFD No. 87 Bonds (except refunding bonds) to be supported by the Facilities Special Tax.
Further notwithstanding the above, under no circumstances shall the Facilit ies Special Tax levied against any Assessor ’s Parcel of Residential Property for which a Certificate of Occ upancy has been issued for private residential use be increased as a consequence of delinquency or default by the owner of any other Assessor’s Parce l within CFD No. 87 by more than ten percen t above the amount that would have been levied in that Fiscal Year had there never been any such delinquencies or defaults. To the extent that th e levy of th e Facilities Special Tax on Residential Property is limi ted by the provis ion in the previous B-3
sentence, the levy of the Facilities Special Tax on each Assessor’s P arcel of Non -Residential Property shall continue in equal percentages up to 100% of the applicable Maximum Facilities Special Tax.
II. SERVICES SPECIAL TAXES FOR MAINT ENANCE OF PARK,
PARKWAYS, AND OPEN SPACE
Maximum Annual Actual
Tax Rate Tax Rate Tax Amount
Land Use Class Unit FY 2022-2023 FY 2022-2023 FY 2022-2023
1 – Final Residential Subdivision Unit $456.32 $305.00 $73,505 2 – Non-Residential Property Acre 11,652.06 7,790.00 0
$73,505
Commencing July 1, 2019, and each July 1 thereafter, the Maximum Special Tax rates for Special Tax B for Residential Property, and Non-Residential Property shall be increased by two percent (2%).
Method of Apportionment of Special Tax B
Commencing with Fiscal Year 2019-2020 and for each following Fiscal Year, the CFD Administrator shall determine the Special Tax Requirement for Services and shall provide for the levy of the Services Special T ax until the total Services Special Tax levy equals the Sp ecial Tax Requirement for Services. The Services Special Tax shall be levied each Fiscal Year as follows:
First: The Services Special Tax shall be lev ied Proportionately each Fiscal Year on each A ssessor’s Parcel of Developed Property at up to 100% of th e applicable Assigned Services Special Tax as needed to satisfy the Special Tax Requirement for Services;
Second: If additional monies are needed to satisfy the Special Tax Requirement for Services after the first step has been completed, then the levy of the Services Special Tax on each Assessor’s Parcel of Developed Property shall be increased in equal percentages from the Assigned Services Special T ax up to the Maximum Services Special Tax for each such Assessor’s parcel.