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EXHIBIT “B”
CITY OF FONTANA
COMMUNITY FACILITIES DISTRICT NO. 112
(THE GARDENS PHASE ONE)
RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAXES
(Summary – Full text available in the Financial Services Division)
The Resolution of Annual Levy refers to thi s Exhibit for 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. 112 (The Gardens Phase One ) (“CFD No. 112”) and collected each fiscal year commencing in Fiscal Year 2023-2024, in an amount determined by th e Cit y Council of th e City o f Fontana (the “Council”) through the application of the application of the Rate and Method of Apportionment as described below. All of the real property in CFD No. 112, unless exempted by law or by the provisions hereof, shall b e taxed for the purp oses, to the extent and in the manner herein provided.
The rate and method of apportionment of the special tax for 2023-2024 shall be as follows.
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I. SPECIAL TAXES FOR PUBLIC IMPROVEMENTS:
Assigned Actual Tax
Special Tax Tax Rate Amount
Land Use Class (square feet) Unit FY 2023-2024 FY 2023-2024 FY 2023-2024
1 – Two Story 3,400 or Greater Unit $5,626.00 $5,626.00 $0 2 – Two Story 3,200 to <3,400 Unit 5,417.00 5,417.00 75,838 3 – Two Story 3,000 to <3,200 Unit 5,208.00 5,208.00 62,496 4 – Two Story 2,800 to <3,000 Unit 5,007.00 5,007.00 85,119 5 – Two Story 2,600 to <2,800 Unit 4,883.00 4,883.00 43,947 6 – Two Story 2,400 to <2,600 Unit 4,381.00 4,381.00 61,334 7 – Two Story 2,200 to <2,400 Unit 4,164.00 4,164.00 45,804 8 – Two Story Less than 2,200 Unit 3,947.00 3,947.00 0 9 – One Story 2,000 or Greater Unit 4,829.00 4,829.00 28,974 10 – One Story Less than 2,000 Unit 4,613.00 4,613.00 27,678 11 – 1,900 or Greater Unit 3,845.00 3,845.00 11,535 12 – 1,700 to <1,900 Unit 3,414.00 3,414.00 54,624 13 – 1,500 to <1,700 Unit 2,953.00 2,953.00 94,496 14 – 1,300 to <1,500 Unit 2,768.00 2,768.00 0
15 – Less than 1,300 Unit 2,583.00 2,583.00 0
16 – Non-Residential Property Acre 55,240.00 55,240.00 0 17 – Non-Residential Property Acre 50,260.00 50,260.00 0 18 – Non-Residential Property Acre 63,050.00 63,050.00 0 19 – Non-Residential Property Acre 40,030.00 40,030.00 0
$591,845
Method of Apportionment of Special Tax A
Commencing with Fiscal year 2023-2024 and for each following Fiscal Year, the CFD Administ rator shall determine the Sp ecial Tax Requ irement for Facilities and shall provide for th e levy of the Facilities Special Tax each Fi scal Year as follows:
First: The Faci lities Special Tax shall be levied on each Assessor’s Parcel of Developed Property i n an amount equal to 100% of the applicabl e Assigned Facilities Special Tax;
Second: If additional monies are needed to satisfy the Special Tax Requirement for Facilitie s after the first s tep has been com pleted, the Facilities Special Tax shall be levie d Proportionately on each As sessor’s Parce l of Undev eloped Property at up to 100% of the Maximum Facilities Special Tax for Undeveloped Property;
Third: If additional monies are needed to satisfy the Special Tax Requirement for Facilities after the first two steps have been comple ted, then the levy of the Facilities Special Tax on each Asse ssor’s Parcel of Developed Property whose B-3
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 T ax for each suc h Assessor’s Parcel;
Fourth: If additional monies are needed to satisfy the Special Tax Requirement for Facilities after the first three steps have bee n completed, then the Facilities Special Tax shall be levied Proportionately on each Assessor’s Parcel of Taxable Public Property and Taxable Property Owner Association Property at up to 100% of the Maximum Facilities Special Tax for Taxable Public Property and Taxable Property Owner Association Property, as needed to satisfy the Special Tax Requirement for Facilities;
Notwithstanding the above, the CFD 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 longer r equired to provide for the levy of the Facilities Special Tax pursuant to steps two through four above in order to meet the Special Tax Requir ement for Facilities; and (ii) all authorized CFD No. 112 Bonds have already been issued or the Council has covenanted t hat it s hall not issue any additional CFD No. 112 Bonds (except refunding bonds) to be supported by the Facilities Special Tax.
Further notwithstanding the abo ve, under no circumstances shall the Facilities Special Tax levied in any Fiscal Year agai nst an y Assess or’s Parcel of Residential Property for which an occupancy permit for private residential use has been issued (in accordance wit h Section 53321(d)(3) of the California Government Code), be increased as a consequence of delinquency or default by the owner of any other Assessor’s Parcel within CFD No. 112 by more than ten percent above the amount that would have been levied in that Fis cal Year had there never been any such delinquencies or defaults. To the extent that the levy of the Facilities Special Tax on Residential Property is limited by the provision in the previous sentence, the lev y of the Facilities Special Tax on each Assessor’s Parcel of Non -Residential Property shall continue in equal percentages up to 100% of the applicable Maximum Facilities Special Tax.
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II. SERVICES SPECIAL TAXE S FOR MAINTENANCE OF PARK,
PARKWAYS, AND OPEN SPACE
Maximum Annual Actual
Tax Rate Tax Rate Tax Amount
Land Use Class Unit FY 2023-2024 FY 2023-2024 FY 2023-2024
1 – P.A. 5 Final Residential Subdivision Unit $770.00 $550.00 $15,950 2 – P.A. 6 Final Residential Subdivision Unit 770.00 550.00 12,100 3 – P.A. 7 Final Residential Subdivision Unit 810.00 576.00 10,368 4 – P.A. 8, 9 & 10 Final Residential Subdivision Unit 810.00 576.00 40,896 5 – Non-Residential Property Acre 7,820.00 5,580.00 0
$79,314
On each July 1, commencing on July 1, 2024, the Maximum Servi ces Special Tax shall be increased by an amount eq ual to two percent (2%) of the amount in effect for the previous Fiscal Year.
Method of Apportionment of Special Tax B
Commencing with Fiscal Year 2023-2024 and for each following Fiscal Year, the CFD Administrator shall determine the Special Tax Requirement for Services and shall p rovide for the levy of the Services Special T ax until the t otal Se rvices Special Tax levy equals the Special Tax Requirement for Services. The S ervices Special Tax shall be levied each Fiscal Year as follows:
First: The Services Special Tax shall be levi ed Proportionately each Fiscal Year on each A ssessor’s Parc el of D eveloped Prope rty at up to 100% o f th e applicable Assigned Services Special Tax as needed to satisfy the Specia l Tax Requirement for Services;
Second: If additional monies are needed to s atisfy 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 fr om the Assigned Services Special Ta x up to the Maximum Services Special Tax for each such Assessor’s parcel.