Agenda packet — Lake Elsinore City Council, February 14, 2023 (part 3 of 3)

Managed Account Detail of Securities Held For the Month Ending December 31, 2022

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Asset-Backed Security
HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
43815GAC3 100,000.00 NR Aaa 11/16/21 11/24/21 99,978.92 0.89 24.44 99,984.51 94,904.49 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
14314QAC8 105,956.15 AAA NR 04/13/21 04/21/21 105,933.32 0.52 24.49 105,941.35 101,985.03 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
44935FAD6 80,000.00 AAA NR 11/09/21 11/17/21 79,982.14 0.75 26.31 79,986.61 75,385.50 DCENT 2021-A1 A1
DTD 09/27/2021 0.580% 09/15/2026
254683CP8 195,000.00 AAA Aaa 09/20/21 09/27/21 194,958.25 0.58 50.27 194,968.86 181,501.07 GMCAR 2021-4 A3
DTD 10/21/2021 0.680% 09/16/2026
362554AC1 85,000.00 AAA Aaa 10/13/21 10/21/21 84,997.83 0.68 24.08 84,998.36 80,032.46 CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
14318MAD1 210,000.00 AAA NR 07/12/22 07/20/22 209,995.04 3.97 370.53 209,995.51 203,961.03 NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
65480JAC4 140,000.00 AAA Aaa 09/20/22 09/28/22 139,971.03 4.46 277.51 139,972.66 138,294.94 GMCAR 2022-4 A3
DTD 10/12/2022 4.820% 08/16/2027
36265QAD8 275,000.00 AAA NR 10/04/22 10/12/22 274,954.93 4.82 552.29 274,956.99 275,364.79 COMET 2022-A3 A
DTD 11/03/2022 4.950% 10/15/2027
14041NGB1 245,000.00 AAA NR 10/27/22 11/03/22 244,961.56 4.95 539.00 244,962.82 246,603.28 Security Type Sub-Total 2,246,036.06 2,245,749.79 2.10 1,994.54 2,245,808.41 2,177,655.81 Managed Account Sub-Total 32,526,036.06 32,122,167.35 1.80 94,648.66 32,062,111.53 30,236,871.15 Joint Powers Authority
CAMP Pool 46,870.41 AAAm NR 46,870.41 0.00 46,870.41 46,870.41 Liquid Sub-Total 46,870.41 46,870.41 0.00 46,870.41 46,870.41

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Managed Account Detail of Securities Held For the Month Ending December 31, 2022

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
$32,572,906.47 $32,169,037.76 1.80% $94,648.66 $32,108,981.94 $30,283,741.56 $30,378,390.22
$94,648.66
Total Investments
Accrued Interest
Securities Sub-Total

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Managed Account Fair Market Value & Analytics For the Month Ending December 31, 2022

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
U.S. Treasury Bond / Note
US TREASURY NOTES 912828XX3 75,000.00 HSBC 96.13 72,093.75 (4,010.74) (3,274.86) DTD 06/30/2017 2.000% 06/30/2024

1.47 4.71
US TREASURY NOTES 912828XX3 325,000.00 HSBC 96.13 312,406.25 (21,416.99) (15,595.30) DTD 06/30/2017 2.000% 06/30/2024

1.47 4.71
US TREASURY NOTES 912828XX3 500,000.00 HSBC 96.13 480,625.00 (43,730.47) (27,807.52) DTD 06/30/2017 2.000% 06/30/2024

1.47 4.71
US TREASURY NOTES 912828YY0 500,000.00 WELLS_F 94.91 474,531.25 (59,882.81) (41,101.77) DTD 12/31/2019 1.750% 12/31/2024

1.96 4.44
US TREASURY NOTES 912828ZW3 250,000.00 GOLDMAN 90.56 226,406.25 (18,750.00) (20,741.35) DTD 06/30/2020 0.250% 06/30/2025

2.49 4.27
US TREASURY NOTES 912828ZW3 450,000.00 MERRILL 90.56 407,531.25 (36,123.05) (38,807.61) DTD 06/30/2020 0.250% 06/30/2025

2.49 4.27
US TREASURY NOTES 91282CBC4 150,000.00 CITIGRP 89.31 133,968.75 (13,083.98) (14,061.01) DTD 12/31/2020 0.375% 12/31/2025

2.98 4.20
US TREASURY NOTES 91282CBC4 350,000.00 JPM_CHA 89.31 312,593.75 (32,265.63) (34,031.56) DTD 12/31/2020 0.375% 12/31/2025

2.98 4.20
US TREASURY NOTES 91282CBC4 400,000.00 CITIGRP 89.31 357,250.00 (30,718.75) (33,884.44) DTD 12/31/2020 0.375% 12/31/2025

2.98 4.20
US TREASURY NOTES 91282CBC4 450,000.00 JPM_CHA 89.31 401,906.25 (44,261.72) (45,485.87) DTD 12/31/2020 0.375% 12/31/2025

2.98 4.20
US TREASURY NOTES 91282CBC4 650,000.00 BNP_PAR 89.31 580,531.25 (51,720.70) (56,666.30) DTD 12/31/2020 0.375% 12/31/2025

2.98 4.20
US TREASURY NOTES 91282CBC4 825,000.00 CITIGRP 89.31 736,828.13 (77,408.20) (80,693.30) DTD 12/31/2020 0.375% 12/31/2025

2.98 4.20
US TREASURY N/B NOTES 91282CBW0 75,000.00 BMO 89.38 67,031.25 (4,426.76) (5,166.98) DTD 04/30/2021 0.750% 04/30/2026

3.29 4.20
US TREASURY N/B NOTES 91282CBW0 950,000.00 CITIGRP 89.38 849,062.50 (77,781.25) (83,074.11) DTD 04/30/2021 0.750% 04/30/2026

3.29 4.20
US TREASURY N/B NOTES 91282CCP4 200,000.00 BMO 88.33 176,656.24 (2,351.57) (4,076.35) DTD 07/31/2021 0.625% 07/31/2026

3.54 4.16
US TREASURY N/B NOTES 91282CCP4 250,000.00 HSBC 88.33 220,820.30 (5,429.70) (9,127.21) DTD 07/31/2021 0.625% 07/31/2026

3.54 4.16
US TREASURY N/B NOTES 91282CCP4 750,000.00 BMO 88.33 662,460.90 (28,007.85) (34,136.67) DTD 07/31/2021 0.625% 07/31/2026

3.54 4.16

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Managed Account Fair Market Value & Analytics For the Month Ending December 31, 2022

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
U.S. Treasury Bond / Note
US TREASURY N/B NOTES 91282CCP4 800,000.00 HSBC 88.33 706,624.96 (25,718.79) (33,788.30) DTD 07/31/2021 0.625% 07/31/2026

3.54 4.16
US TREASURY N/B NOTES 91282CCP4 900,000.00 MERRILL 88.33 794,953.08 (24,082.08) (35,244.12) DTD 07/31/2021 0.625% 07/31/2026

3.54 4.16
US TREASURY N/B NOTES 91282CCP4 900,000.00 BMO 88.33 794,953.08 (24,609.42) (32,341.66) DTD 07/31/2021 0.625% 07/31/2026

3.54 4.16
US TREASURY NOTES 912828U24 300,000.00 BMO 92.42 277,265.64 3,492.20 2,458.82 DTD 11/15/2016 2.000% 11/15/2026

3.73 4.14
US TREASURY NOTES 912828U24 350,000.00 BMO 92.42 323,476.58 902.36 (600.92) DTD 11/15/2016 2.000% 11/15/2026

3.73 4.14
US TREASURY NOTES 912828U24 2,100,000.00 HSBC 92.42 1,940,859.48 (13,206.93) (15,742.26) DTD 11/15/2016 2.000% 11/15/2026

3.73 4.14
Security Type Sub-Total 12,500,000.00 11,310,835.89 (634,592.83) (662,990.65) 3.16 4.23 Supra-National Agency Bond / Note
INTL BK OF RECON AND DEV NOTE 459058JV6 245,000.00 TD 98.71 241,842.93 (2,649.92) (3,081.34) DTD 04/20/2021 0.125% 04/20/2023

0.31 4.40
INTL BK RECON & DEVELOP NOTES 459058JM6 500,000.00 TD 96.10 480,505.50 (18,419.50) (19,173.47) DTD 11/24/2020 0.250% 11/24/2023

0.90 4.73
INTER-AMERICAN DEVEL BK NOTES 4581X0DZ8 635,000.00 JPM_CHA 93.18 591,708.88 (42,821.22) (43,020.58) DTD 09/23/2021 0.500% 09/23/2024

1.72 4.65
Security Type Sub-Total 1,380,000.00 1,314,057.31 (63,890.64) (65,275.39) 1.16 4.63 Municipal Bond / Note
CT ST TXBL GO BONDS 20772KJW0 60,000.00 SIEBERT 96.15 57,692.40 (2,307.60) (2,307.60) DTD 06/11/2020 1.998% 07/01/2024

1.47 4.68
CHAFFEY UHSD, CA TXBL GO BONDS 157411TK5 100,000.00 RBC 96.10 96,103.00 (3,897.00) (3,897.00) DTD 12/05/2019 2.101% 08/01/2024

1.55 4.68
NY ST URBAN DEV CORP TXBL REV BONDS 650036DT0 325,000.00 WELLS_F 91.82 298,424.75 (26,575.25) (26,575.25) DTD 12/23/2020 0.870% 03/15/2025

2.19 4.82
UNIV OF CAL TXBL REV BONDS 91412HGE7 85,000.00 JPM_CHA 04/15/25 90.31 76,759.25 (8,240.75) (8,240.75) DTD 07/16/2020 0.883% 05/15/2025

2.27 5.28

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Managed Account Fair Market Value & Analytics For the Month Ending December 31, 2022

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Municipal Bond / Note
FL ST BOARD OF ADMIN TXBL REV BONDS 341271AD6 65,000.00 MERRILL 91.40 59,408.70 (6,050.85) (5,830.93) DTD 09/16/2020 1.258% 07/01/2025

2.45 4.95
FL ST BOARD OF ADMIN TXBL REV BONDS 341271AD6 85,000.00 MERRILL 91.40 77,688.30 (7,875.25) (7,605.56) DTD 09/16/2020 1.258% 07/01/2025

2.45 4.95
FL ST BOARD OF ADMIN TXBL REV BONDS 341271AD6 160,000.00 MERRILL 91.40 146,236.80 (13,763.20) (13,763.20) DTD 09/16/2020 1.258% 07/01/2025

2.45 4.95
MN ST TXBL GO BONDS 60412AVJ9 100,000.00 MORGAN_ 90.41 90,408.00 (9,592.00) (9,592.00) DTD 08/25/2020 0.630% 08/01/2025

2.56 4.61
SAN JUAN USD, CA TXBL GO BONDS 798306WP7 130,000.00 KEYBANC 90.84 118,095.90 (11,904.10) (11,904.10) DTD 10/29/2020 0.852% 08/01/2025

2.55 4.65
LOS ANGELES CCD, CA TXBL GO BONDS 54438CYK2 140,000.00 MERRILL 90.75 127,048.60 (12,951.40) (12,951.40) DTD 11/10/2020 0.773% 08/01/2025

2.56 4.61
CA ST UNIV TXBL REV BONDS 13077DQD7 85,000.00 JPM_CHA 89.28 75,883.75 (9,116.25) (9,116.25) DTD 07/29/2021 0.862% 11/01/2025

2.80 4.96
Security Type Sub-Total 1,335,000.00 1,223,749.45 (112,273.65) (111,784.04) 2.31 4.82 Federal Agency Commercial Mortgage-Backed Security
FHMS K043 A2 3137BGK24 250,000.00 CITIGRP 96.88 242,197.79 (20,185.02) (12,865.27) DTD 03/01/2015 3.062% 12/01/2024

1.82 4.77
Security Type Sub-Total 250,000.00 242,197.79 (20,185.02) (12,865.27) 1.82 4.77 Federal Agency Bond / Note
FREDDIE MAC NOTES 3137EAEW5 375,000.00 NOMURA 96.93 363,484.50 (11,583.98) (11,531.08) DTD 09/04/2020 0.250% 09/08/2023

0.69 4.84
FREDDIE MAC NOTES 3137EAEW5 525,000.00 WELLS_F 96.93 508,878.30 (15,948.45) (16,082.29) DTD 09/04/2020 0.250% 09/08/2023

0.69 4.84
FREDDIE MAC NOTES 3137EAEY1 325,000.00 WELLS_F 96.34 313,120.28 (10,667.47) (11,560.88) DTD 10/16/2020 0.125% 10/16/2023

0.79 4.87
FREDDIE MAC NOTES 3137EAEZ8 350,000.00 CITIGRP 96.19 336,648.90 (13,036.10) (13,262.29) DTD 11/05/2020 0.250% 11/06/2023

0.85 4.89
FANNIE MAE NOTES 3135G06H1 325,000.00 NOMURA 95.92 311,735.13 (12,894.37) (13,153.42) DTD 11/25/2020 0.250% 11/27/2023

0.91 4.90

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Managed Account Fair Market Value & Analytics For the Month Ending December 31, 2022

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Federal Agency Bond / Note
FREDDIE MAC NOTES 3137EAFA2 300,000.00 CITIGRP 95.83 287,497.20 (12,205.80) (12,411.39) DTD 12/04/2020 0.250% 12/04/2023

0.93 4.90
FEDERAL HOME LOAN BANK NOTES 3130AJHU6 350,000.00 CITIGRP 91.55 320,420.80 (27,843.20) (28,785.44) DTD 04/16/2020 0.500% 04/14/2025

2.28 4.42
FANNIE MAE NOTES 3135G03U5 350,000.00 CITIGRP 91.74 321,094.20 (28,184.80) (28,572.97) DTD 04/24/2020 0.625% 04/22/2025

2.29 4.42
FREDDIE MAC NOTES 3137EAEU9 425,000.00 WELLS_F 90.49 384,569.75 (38,313.75) (39,348.79) DTD 07/23/2020 0.375% 07/21/2025

2.54 4.34
FANNIE MAE NOTES 3135G05X7 350,000.00 BARCLAY 90.18 315,620.90 (32,741.10) (33,510.71) DTD 08/27/2020 0.375% 08/25/2025

2.64 4.33
FEDERAL HOME LOAN BANK NOTES 3130AK5E2 150,000.00 WELLS_F 90.14 135,204.90 (14,345.10) (14,553.40) DTD 09/11/2020 0.375% 09/04/2025

2.66 4.31
FREDDIE MAC NOTES 3137EAEX3 700,000.00 CITIGRP 89.88 629,168.40 (68,724.60) (69,681.07) DTD 09/25/2020 0.375% 09/23/2025

2.72 4.34
FANNIE MAE NOTES 3135G06G3 650,000.00 BARCLAY 89.85 584,033.45 (63,639.55) (64,636.29) DTD 11/12/2020 0.500% 11/07/2025

2.83 4.32
Security Type Sub-Total 5,175,000.00 4,811,476.71 (350,128.27) (357,090.02) 1.80 4.58 Corporate Note
PNC BANK NA CORP NOTES (CALLABLE) 693475AV7 400,000.00 CITIGRP 12/23/23 98.55 394,184.40 (8,663.60) (6,387.77) DTD 01/23/2019 3.500% 01/23/2024

0.96 4.92
CHARLES SCHWAB CORP NOTES 808513BN4 105,000.00 CSFB 02/18/24 95.18 99,939.63 (5,007.87) (5,039.20) (CALLABLE)
DTD 03/18/2021 0.750% 03/18/2024

1.13 4.88
BANK OF NY MELLON CORP NOTES 06406RAS6 210,000.00 JPM_CHA 03/26/24 94.31 198,052.89 (11,722.41) (11,848.50) (CALLABLE)
DTD 04/26/2021 0.500% 04/26/2024

1.24 5.00
MORGAN STANLEY CORP NOTES 61746BDQ6 400,000.00 WELLS_FA 98.27 393,075.60 (29,840.40) (13,291.42) DTD 04/28/2014 3.875% 04/29/2024

1.30 5.23
AMERICAN HONDA FINANCE CORP NOTE 02665WCZ2 400,000.00 WELLS_FA 96.25 385,007.20 (13,008.80) (14,397.27) DTD 06/27/2019 2.400% 06/27/2024

1.47 5.04

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Managed Account Fair Market Value & Analytics For the Month Ending December 31, 2022

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Corporate Note
GOLDMAN SACHS GROUP INC (CALLABLE) 38141EC23 400,000.00 SUSQ 04/08/24 98.26 393,045.20 (25,586.80) (11,932.65) BONDS
DTD 07/08/2014 3.850% 07/08/2024

1.23 5.05
BMW US CAPITAL LLC CORPORATE NOTES 05565EBU8 70,000.00 GOLDMAN 93.46 65,419.83 (4,573.87) (4,576.78) DTD 08/12/2021 0.750% 08/12/2024

1.61 5.01
WALT DISNEY COMPANY/THE (CALLABLE) 254687FK7 400,000.00 JPM_CHAS 07/30/24 95.31 381,259.20 (17,108.80) (18,196.50) DTD 09/06/2019 1.750% 08/30/2024

1.56 4.70
JOHN DEERE CAPITAL CORP CORPORATE 24422EVU0 100,000.00 HSBC 93.25 93,246.70 (6,688.30) (6,716.65) NOTES
DTD 09/10/2021 0.625% 09/10/2024

1.68 4.82
PACCAR FINANCIAL CORP CORPORATE 69371RQ66 175,000.00 MERRILL 94.04 164,573.15 (18,321.10) (14,305.70) NOTES
DTD 02/06/2020 1.800% 02/06/2025

2.05 4.82
AMERICAN EXPRESS CO CORP NOTES 025816CQ0 80,000.00 BARCLAY 02/01/25 94.41 75,531.84 (4,387.36) (4,409.70) (CALLABLE
DTD 03/04/2022 2.250% 03/04/2025

2.03 4.99
ROCHE HOLDINGS INC (CALLABLE) 771196BT8 410,000.00 DEUTSCH 02/10/25 94.76 388,503.29 (21,496.71) (21,496.71)

CORPORATE
DTD 03/10/2022 2.132% 03/10/2025

2.06 4.67
HOME DEPOT INC (CALLABLE) CORPORATE 437076CM2 25,000.00 MORGAN_ 03/15/25 95.68 23,919.15 (1,037.10) (1,048.06) NOTE
DTD 03/28/2022 2.700% 04/15/2025

2.15 4.71
CITIGROUP INC CORP NOTES 172967JP7 225,000.00 MKTX 96.57 217,288.13 (32,450.62) (20,044.84) DTD 04/27/2015 3.300% 04/27/2025

2.24 4.88
CINTAS CORPORATION NO. 2 CORP NOTE 17252MAP5 65,000.00 KEYBANC 04/01/25 96.82 62,936.19 (2,049.51) (2,052.69) (CALL
DTD 05/03/2022 3.450% 05/01/2025

2.17 4.90
USAA CAPITAL CORP CORPORATE NOTES 90327QD89 225,000.00 MERRILL 96.32 216,720.45 (7,543.80) (7,694.93) DTD 05/26/2022 3.375% 05/01/2025

2.25 5.06
APPLE INC (CALLABLE) CORP NOTES 037833DT4 550,000.00 GOLDMAN 04/11/25 92.11 506,607.20 (44,498.30) (43,904.88) DTD 05/11/2020 1.125% 05/11/2025

2.25 4.69
GENERAL DYNAMICS CORP (CALLABLE) 369550BG2 225,000.00 JPM_CHA 03/15/25 97.29 218,907.45 (33,340.05) (19,724.78)

CORP NO
DTD 05/11/2018 3.500% 05/15/2025

2.13 4.72

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Managed Account Fair Market Value & Analytics For the Month Ending December 31, 2022

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Corporate Note
JPMORGAN CHASE & CO (CALLABLE) CORP 46647PCH7 315,000.00 JPM_CHA 06/01/24 93.26 293,765.54 (21,234.46) (21,234.46) NOTE
DTD 06/01/2021 0.824% 06/01/2025

1.41 3.76
AMAZON INC CORP NOTES (CALLABLE) 023135BQ8 475,000.00 GOLDMAN 05/03/25 91.32 433,778.55 (40,988.70) (41,108.65) DTD 06/03/2020 0.800% 06/03/2025

2.32 4.62
NATIONAL AUSTRALIA BK/NY CORPORATE 63254ABD9 250,000.00 CITIGRP 96.85 242,137.00 (7,863.00) (7,863.00) NOTES
DTD 06/09/2022 3.500% 06/09/2025

2.36 4.88
NATIONAL RURAL UTIL COOP CORPORATE 63743HFE7 50,000.00 RBC 96.24 48,119.10 (1,867.40) (1,870.27) NOTES
DTD 05/04/2022 3.450% 06/15/2025

2.37 5.10
TOYOTA MOTOR CREDIT CORP 89236TKC8 100,000.00 MERRILL 98.13 98,126.20 (1,778.80) (1,794.84)

CORPORATE NOTES
DTD 06/30/2022 3.950% 06/30/2025

2.40 4.75
IBM CORP CORPORATE NOTES 459200KS9 225,000.00 JPM_CHA 98.37 221,339.03 (3,660.97) (3,660.97) DTD 07/27/2022 4.000% 07/27/2025

2.43 4.68
BANK OF AMERICA CORP NOTES 06051GFS3 225,000.00 MERRILL 97.36 219,069.68 (37,848.82) (22,587.29) DTD 07/30/2015 3.875% 08/01/2025

2.44 4.97
ABBOTT LABORATORIES CORPORATE 002824BM1 225,000.00 US_BANC 06/15/25 98.15 220,834.35 (37,011.15) (21,265.92)

NOTES (CAL
DTD 03/22/2017 3.875% 09/15/2025

2.34 4.61
BANK OF AMERICA CORP NOTES 06051GKE8 225,000.00 MERRILL 12/06/24 92.32 207,725.85 (17,274.15) (17,274.15) (CALLABLE)
DTD 12/06/2021 1.530% 12/06/2025

1.91 4.35
JPMORGAN CHASE & CO CORP NOTES 46647PCV6 175,000.00 JPM_CHA 02/24/25 94.12 164,717.35 (10,282.65) (10,282.65) (CALLABLE
DTD 02/24/2022 2.595% 02/24/2026

2.08 4.62
UNITEDHEALTH GROUP INC (CALLABLE) 91324PEC2 225,000.00 CITIGRP 04/15/26 89.53 201,442.95 (23,165.55) (23,292.76) CORPOR
DTD 05/19/2021 1.150% 05/15/2026

3.23 4.53
TOYOTA MOTOR CREDIT CORP 89236TJK2 145,000.00 JPM_CHA 88.51 128,340.52 (16,337.58) (16,425.51)

CORPORATE NOTES
DTD 06/18/2021 1.125% 06/18/2026

3.40 4.76

Page 21 ends

Managed Account Fair Market Value & Analytics For the Month Ending December 31, 2022

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Corporate Note
BMW US CAPITAL LLC (CALLABLE) 05565EBW4 175,000.00 MITSU 07/12/26 87.69 153,462.40 (21,485.10) (21,499.59)

CORPORATE
DTD 08/12/2021 1.250% 08/12/2026

3.44 5.01
CATERPILLAR FINL SERVICE CORPORATE 14913R2U0 225,000.00 JPM_CHA 90.23 203,013.23 (20,850.52) (21,070.78) NOTES
DTD 01/10/2022 1.700% 01/08/2027

3.86 4.38
TARGET CORP CORP NOTES (CALLABLE) 87612EBM7 40,000.00 CITIGRP 12/15/26 90.71 36,282.12 (3,649.88) (3,662.68) DTD 01/24/2022 1.950% 01/15/2027

3.78 4.49
BANK OF NY MELLON CORP (CALLABLE) 06406RBA4 475,000.00 DEUTSCH 12/26/26 89.78 426,439.33 (47,506.17) (47,701.58) CORPOR
DTD 01/26/2022 2.050% 01/26/2027

3.80 4.85
BERKSHIRE HATHAWAY CORP NOTES 084664CZ2 475,000.00 SEEL 02/15/27 92.14 437,687.33 (28,401.67) (29,818.44) (CALLABLE)
DTD 03/15/2022 2.300% 03/15/2027

3.92 4.36
Security Type Sub-Total 8,490,000.00 8,014,498.03 (628,531.97) (539,482.57) 2.22 4.75 Certificate of Deposit
CREDIT SUISSE NEW YORK CERT DEPOS 22552G3C2 250,000.00 CSFB 99.03 247,586.50 (2,413.50) (2,413.50) DTD 03/23/2021 0.590% 03/17/2023

0.22 5.15
TORONTO DOMINION BANK NY CERT 89115B6K1 450,000.00 TD 99.96 449,801.01 (198.99) (198.99) DEPOS
DTD 10/31/2022 5.600% 10/27/2025

3.52 5.59
NORDEA BANK ABP NEW YORK CERT 65558UYF3 450,000.00 WELLS_F 98.89 445,012.65 (4,987.35) (4,987.35) DEPOS
DTD 11/03/2022 5.530% 11/03/2025

2.65 5.96
Security Type Sub-Total 1,150,000.00 1,142,400.16 (7,599.84) (7,599.84) 2.46 5.64 Asset-Backed Security
GMALT 2021-1 A4 36261RAD0 85,000.00 RBC 98.24 83,505.39 (1,481.78) (1,487.73) DTD 02/24/2021 0.330% 02/20/2025

0.46 1.16
GMALT 2021-2 A4 380144AD7 35,000.00 SOCGEN 96.30 33,706.04 (1,291.01) (1,292.20) DTD 05/26/2021 0.410% 05/20/2025

0.78 2.00

Page 22 ends

Managed Account Fair Market Value & Analytics For the Month Ending December 31, 2022

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Asset-Backed Security
HART 2021-A A3 44933LAC7 70,079.91 BARCLAY 96.72 67,778.93 (2,293.61) (2,296.43) DTD 04/28/2021 0.380% 09/15/2025

0.69 1.62
NAROT 2021-A A3 65480BAC1 295,000.00 MITSU 95.77 282,533.15 (12,461.86) (12,463.62) DTD 06/23/2021 0.330% 10/15/2025

0.88 1.89
TAOT 2021-B A3 89190GAC1 325,000.00 CITIGRP 96.03 312,099.71 (12,865.29) (12,877.54) DTD 06/14/2021 0.260% 11/17/2025

0.78 1.67
HAROT 2021-4 A3 43815GAC3 100,000.00 MERRILL 94.90 94,904.49 (5,074.43) (5,080.02) DTD 11/24/2021 0.880% 01/21/2026

1.26 2.62
CARMX 2021-2 A3 14314QAC8 105,956.15 MERRILL 96.25 101,985.03 (3,948.29) (3,956.32) DTD 04/21/2021 0.520% 02/17/2026

0.71 1.75
HART 2021-C A3 44935FAD6 80,000.00 SMBC 94.23 75,385.50 (4,596.64) (4,601.11) DTD 11/17/2021 0.740% 05/15/2026

1.23 2.52
DCENT 2021-A1 A1 254683CP8 195,000.00 CITIGRP 93.08 181,501.07 (13,457.18) (13,467.79) DTD 09/27/2021 0.580% 09/15/2026

1.67 2.54
GMCAR 2021-4 A3 362554AC1 85,000.00 JPM_CHA 94.16 80,032.46 (4,965.37) (4,965.90) DTD 10/21/2021 0.680% 09/16/2026

1.30 2.33
CARMX 2022-3 A3 14318MAD1 210,000.00 RBC 97.12 203,961.03 (6,034.01) (6,034.48) DTD 07/20/2022 3.970% 04/15/2027

1.98 4.71
NAROT 2022-B A3 65480JAC4 140,000.00 WELLS_F 98.78 138,294.94 (1,676.09) (1,677.72) DTD 09/28/2022 4.460% 05/17/2027

2.07 4.77
GMCAR 2022-4 A3 36265QAD8 275,000.00 RBC 100.13 275,364.79 409.86 407.80 DTD 10/12/2022 4.820% 08/16/2027

2.12 4.79
COMET 2022-A3 A 14041NGB1 245,000.00 RBC 100.65 246,603.28 1,641.72 1,640.46 DTD 11/03/2022 4.950% 10/15/2027

2.56 4.80
Security Type Sub-Total 2,246,036.06 2,177,655.81 (68,093.98) (68,152.60) 1.47 3.08 Managed Account Sub-Total 32,526,036.06 30,236,871.15 (1,885,296.20) (1,825,240.38) 2.41 4.44 Joint Powers Authority
CAMP Pool 46,870.41 1.00 46,870.41 0.00 0.00 0.00
Liquid Sub-Total 46,870.41 46,870.41 0.00 0.00 0.00

Page 23 ends

Managed Account Fair Market Value & Analytics For the Month Ending December 31, 2022

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Total Investments $30,378,390.22
$94,648.66
$30,283,741.56
Accrued Interest
Securities Sub-Total $32,572,906.47 ($1,885,296.20) ($1,825,240.38) 2.41 4.44%

Page 24 ends

Managed Account Security Transactions & Interest For the Month Ending December 31, 2022

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Transaction Type
Trade Settle Security Description CUSIP Par Proceeds
Principal Accrued
Interest Total Cost
Realized G/L Realized G/L Sale
Amort Cost Method
BUY
12/07/22 US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
12/05/22 912828U24 2,100,000.00 (1,954,066.41) (2,552.49) (1,956,618.90) Transaction Type Sub-Total 2,100,000.00 (1,954,066.41) (2,552.49) (1,956,618.90)

INTEREST
12/01/22 JPMORGAN CHASE & CO (CALLABLE)

CORP NOTE
DTD 06/01/2021 0.824% 06/01/2025
12/01/22 46647PCH7 315,000.00 0.00 1,297.80 1,297.80
12/25/22 FHMS K043 A2
DTD 03/01/2015 3.062% 12/01/2024
12/01/22 3137BGK24 250,000.00 0.00 637.92 637.92
12/25/22 FHMS KP05 A
DTD 12/01/2018 3.203% 07/01/2023
12/01/22 3137FKK39 5,553.39 0.00 14.82 14.82
12/03/22 AMAZON INC CORP NOTES (CALLABLE)
DTD 06/03/2020 0.800% 06/03/2025
12/03/22 023135BQ8 475,000.00 0.00 1,900.00 1,900.00
12/04/22 FREDDIE MAC NOTES
DTD 12/04/2020 0.250% 12/04/2023
12/04/22 3137EAFA2 300,000.00 0.00 375.00 375.00
12/06/22 BANK OF AMERICA CORP NOTES
(CALLABLE)
DTD 12/06/2021 1.530% 12/06/2025
12/06/22 06051GKE8 225,000.00 0.00 1,721.25 1,721.25
12/09/22 NATIONAL AUSTRALIA BK/NY

CORPORATE NOTES
DTD 06/09/2022 3.500% 06/09/2025
12/09/22 63254ABD9 250,000.00 0.00 4,375.00 4,375.00
12/15/22 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
12/15/22 44935FAD6 80,000.00 0.00 49.33 49.33
12/15/22 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
12/15/22 14314QAC8 110,000.00 0.00 47.67 47.67
12/15/22 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
12/15/22 44933LAC7 74,474.21 0.00 23.58 23.58
12/15/22 NATIONAL RURAL UTIL COOP

CORPORATE NOTES
DTD 05/04/2022 3.450% 06/15/2025
12/15/22 63743HFE7 50,000.00 0.00 1,058.96 1,058.96
12/15/22 NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
12/15/22 65480JAC4 140,000.00 0.00 520.33 520.33

Page 25 ends

Managed Account Security Transactions & Interest For the Month Ending December 31, 2022

INTEREST
12/15/22 TAOT 2021-B A3
DTD 06/14/2021 0.260% 11/17/2025
12/15/22 89190GAC1 325,000.00 0.00 70.42 70.42
12/15/22 DCENT 2021-A1 A1
DTD 09/27/2021 0.580% 09/15/2026
12/15/22 254683CP8 195,000.00 0.00 94.25 94.25
12/15/22 CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
12/15/22 14318MAD1 210,000.00 0.00 694.75 694.75
12/15/22 COMET 2022-A3 A
DTD 11/03/2022 4.950% 10/15/2027
12/15/22 14041NGB1 245,000.00 0.00 1,414.88 1,414.88
12/15/22 NAROT 2021-A A3
DTD 06/23/2021 0.330% 10/15/2025
12/15/22 65480BAC1 295,000.00 0.00 81.13 81.13
12/16/22 GMCAR 2021-4 A3
DTD 10/21/2021 0.680% 09/16/2026
12/16/22 362554AC1 85,000.00 0.00 48.17 48.17
12/16/22 GMCAR 2022-4 A3
DTD 10/12/2022 4.820% 08/16/2027
12/16/22 36265QAD8 275,000.00 0.00 1,104.58 1,104.58
12/18/22 TOYOTA MOTOR CREDIT CORP

CORPORATE NOTES
DTD 06/18/2021 1.125% 06/18/2026
12/18/22 89236TJK2 145,000.00 0.00 815.63 815.63
12/20/22 GMALT 2021-1 A4
DTD 02/24/2021 0.330% 02/20/2025
12/20/22 36261RAD0 85,000.00 0.00 23.38 23.38
12/20/22 GMALT 2021-2 A4
DTD 05/26/2021 0.410% 05/20/2025
12/20/22 380144AD7 35,000.00 0.00 11.96 11.96
12/21/22 HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
12/21/22 43815GAC3 100,000.00 0.00 73.33 73.33
12/28/22 AMERICAN HONDA FINANCE CORP
NOTE
DTD 06/27/2019 2.400% 06/27/2024
12/27/22 02665WCZ2 400,000.00 0.00 4,800.00 4,800.00
12/30/22 TOYOTA MOTOR CREDIT CORP

CORPORATE NOTES
DTD 06/30/2022 3.950% 06/30/2025
12/30/22 89236TKC8 100,000.00 0.00 1,975.00 1,975.00
12/31/22 US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
12/31/22 91282CBC4 2,825,000.00 0.00 5,296.88 5,296.88
12/31/22 US TREASURY NOTES
DTD 06/30/2020 0.250% 06/30/2025
12/31/22 912828ZW3 700,000.00 0.00 875.00 875.00

Page 26 ends

Managed Account Security Transactions & Interest For the Month Ending December 31, 2022

INTEREST
12/31/22 US TREASURY NOTES
DTD 06/30/2017 2.000% 06/30/2024
12/31/22 912828XX3 900,000.00 0.00 9,000.00 9,000.00
12/31/22 US TREASURY NOTES
DTD 12/31/2019 1.750% 12/31/2024
12/31/22 912828YY0 500,000.00 0.00 4,375.00 4,375.00
Transaction Type Sub-Total 9,695,027.60 0.00 42,776.02 42,776.02

PAYDOWNS
12/25/22 FHMS KP05 A
DTD 12/01/2018 3.203% 07/01/2023
12/01/22 3137FKK39 5,553.39 5,553.39 0.00 5,553.39 0.02 0.00 12/15/22 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
12/15/22 44933LAC7 4,394.30 4,394.30 0.00 4,394.30 0.46 0.00 12/15/22 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
12/15/22 14314QAC8 4,043.85 4,043.85 0.00 4,043.85 0.87 0.00 Transaction Type Sub-Total 13,991.54 13,991.54 0.00 13,991.54 1.35 0.00 SELL
12/07/22 US TREASURY NOTES
DTD 12/31/2019 1.750% 12/31/2024
12/05/22 912828YY0 2,000,000.00 1,899,921.88 15,217.39 1,915,139.27 (230,703.12) (160,250.10) FIFO Transaction Type Sub-Total 2,000,000.00 1,899,921.88 15,217.39 1,915,139.27 (230,703.12) (160,250.10) Managed Account Sub-Total (40,152.99) 55,440.92 15,287.93 (230,701.77) (160,250.10) Total Security Transactions ($40,152.99) $55,440.92 $15,287.93 ($230,701.77) ($160,250.10)

Page 27 ends

Account Statement For the Month Ending December 31, 2022

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Trade Settlement Share or Dollar Amount Total
Date Date Transaction Description Unit Price of Transaction Shares Owned CAMP Pool
Opening Balance 53,691.54
12/01/22 12/01/22 Purchase - Interest 46647PCH7 1.00 1,297.80 54,989.34 12/05/22 12/05/22 Purchase - Interest 023135BQ8 1.00 1,900.00 56,889.34 12/05/22 12/05/22 Purchase - Interest 3137EAFA2 1.00 375.00 57,264.34 12/06/22 12/06/22 Purchase - Interest 06051GKE8 1.00 1,721.25 58,985.59 12/07/22 12/07/22 Purchase - Interest 912828YY0 1.00 15,217.39 74,202.98 12/07/22 12/07/22 Purchase - Principal 912828YY0 1.00 1,899,921.88 1,974,124.86 12/07/22 12/07/22 Redemption - Principal 912828U24 1.00 (1,954,066.41) 20,058.45 12/07/22 12/07/22 Redemption - Interest 912828U24 1.00 (2,552.49) 17,505.96 12/09/22 12/09/22 Purchase - Interest 63254ABD9 1.00 4,375.00 21,880.96 12/15/22 12/15/22 Purchase - Interest 63743HFE7 1.00 1,058.96 22,939.92 12/15/22 12/15/22 Purchase - Interest 14041NGB1 1.00 1,414.88 24,354.80 12/15/22 12/15/22 Purchase - Interest 14314QAC8 1.00 47.67 24,402.47 12/15/22 12/15/22 Purchase - Interest 14318MAD1 1.00 694.75 25,097.22 12/15/22 12/15/22 Purchase - Interest 254683CP8 1.00 94.25 25,191.47 12/15/22 12/15/22 Purchase - Interest 44933LAC7 1.00 23.58 25,215.05 12/15/22 12/15/22 Purchase - Interest 44935FAD6 1.00 49.33 25,264.38 12/15/22 12/15/22 Purchase - Interest 65480BAC1 1.00 81.13 25,345.51 12/15/22 12/15/22 Purchase - Interest 65480JAC4 1.00 520.33 25,865.84 12/15/22 12/15/22 Purchase - Interest 89190GAC1 1.00 70.42 25,936.26 12/15/22 12/15/22 Purchase - Principal 14314QAC8 1.00 4,043.85 29,980.11 12/15/22 12/15/22 Purchase - Principal 44933LAC7 1.00 4,394.30 34,374.41

Page 28 ends

Account Statement For the Month Ending December 31, 2022

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Trade Settlement Share or Dollar Amount Total
Date Date Transaction Description Unit Price of Transaction Shares Owned CAMP Pool
12/16/22 12/16/22 Purchase - Interest 362554AC1 1.00 48.17 34,422.58 12/16/22 12/16/22 Purchase - Interest 36265QAD8 1.00 1,104.58 35,527.16 12/19/22 12/19/22 Purchase - Interest 89236TJK2 1.00 815.63 36,342.79 12/20/22 12/20/22 Purchase - Interest 36261RAD0 1.00 23.38 36,366.17 12/20/22 12/20/22 Purchase - Interest 380144AD7 1.00 11.96 36,378.13 12/21/22 12/21/22 Purchase - Interest 43815GAC3 1.00 73.33 36,451.46 12/23/22 12/23/22 IP Fees November 2022 1.00 (2,534.39) 33,917.07 12/23/22 12/23/22 U.S. Bank Fees October 2022 1.00 (163.20) 33,753.87 12/27/22 12/27/22 Purchase - Interest 3137BGK24 1.00 637.92 34,391.79 12/27/22 12/27/22 Purchase - Interest 3137FKK39 1.00 14.82 34,406.61 12/27/22 12/27/22 Purchase - Principal 3137FKK39 1.00 5,553.39 39,960.00 12/28/22 12/28/22 Purchase - Interest 02665WCZ2 1.00 4,800.00 44,760.00 12/30/22 12/30/22 Purchase - Interest 89236TKC8 1.00 1,975.00 46,735.00 12/30/22 01/03/23 Accrual Income Div Reinvestment - Distributions 1.00 135.41 46,870.41

Page 29 ends

Account Statement For the Month Ending December 31, 2022

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Trade Settlement Share or Dollar Amount Total
Date Date Transaction Description Unit Price of Transaction Shares Owned 46,870.41
46,870.41
46,870.41
37,010.35
1,710.02

0.00 (11,721,974.84)
11,513,668.57
255,176.68
135.41
46,870.41

0.00 (1,959,316.49)
1,952,495.36
53,691.54
Monthly Distribution Yield
Average Monthly Balance
Closing Balance
Month of Fiscal YTD
Cash Dividends and Income
Closing Balance
Check Disbursements
Redemptions (Excl. Checks)
Purchases
Opening Balance
Closing Balance
December January-December

4.30%

Page 30 ends

Page 1 of 2 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor or Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Shannon Buckley, Assistant City Manager
Date: February 14, 2023
Subject: Public Hearing and Election for Annexation Proceedings for Annexation No. 13 into Community Facilities District No. 2015-1 (Safety Services) Recommendation

1. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,

CALIFORNIA, ACTING AS THE LEGISLATIVE BODY OF CITY OF LAKE ELSINORE COMMUNITY FACILITIES DISTRICT NO. 2015-1 (SAFETY SERVICES), ANNEXING TERRITORY TO COMMUNITY FACILITIES DISTRICT NO. 2015-1 (SAFETY SERVICES), AND CALLING ELECTIONS THEREIN; and

2. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,

CALIFORNIA, ACTING AS THE LEGISLATIVE BODY OF THE CITY OF LAKE ELSINORE COMMUNITY FACILITIES DISTRICT NO. 2015-1 (SAFETY SERVICES) CERTIFYING THE RESULTS OF THE FEBRUARY 14, 2023 ANNEXATION AND SPECIAL TAX ELECTIONS.

Background
Tri Pointe Homes IE-SD, Inc. (the “Owner”) owns a vacant residential lot, including 140 residential lots, located at the northeast corner of Grand Avenue and Riverside Drive. To adequately mitigate public safety services needed to serve the residential property within TR 38116, the Owners have agreed to annex the property to Community Facilities District No. 2015-1 (“CFD No. 2015-1” or “District”) to finance police protection services (including but not limited to criminal justice services), fire protection and suppression services, and paramedic services (“Safety Services”) within the area of CFD No. 2015-1, which is necessary to serve new development within TR 38116. The development within the annexation area will encompass 140 residential properties.

CFD No. 2015-1 was formed by the City Council on March 8, 2016, according to the provisions of the Mello-Roos Community Facilities Act of 1982 (“Act”). On October 22, 2019, the City Council, acting as the legislative body of CFD No. 2015-1, adopted a resolution declaring its CFD No. 2015-1 Annexation No. 13
February 14, 2023

Page 2 of 2 ends

intention to annex the District into CFD No. 2015-1. The proceedings at this meeting will complete the proposed Annexation of property to CFD 2015-1.

The attached resolution will certify the election results on the Annexation of the Property to CFD No. 2015-1.

Documents to be Approved
Following the public hearing, approval of the first resolution will call for an election for the Annexation. The City has received a certificate from the Registrar of Voters certifying that less than 12 Registered Voters reside with the District during the 90 days before the time of the public hearing. Accordingly, the election to be held will be a landowner election, under which the landowners are the sole eligible voters within the District. Tri Pointe Homes IE-SD, Inc. has also executed consent and waiver to specific election law requirements and allowed the election to be conducted immediately following the public hearing.

Following the election, the City Council will be asked to certify the election results, and assuming the passage of the propositions, the property within the District will be annexed to CFD No. 2015- 1, and the City Clerk will be instructed to record a notice of special tax lien of CFD No. 2015-1 on the property within the District. After that, the property within the District will be subject to the special tax levy of CFD No. 2015-1.

Fiscal Impact
The Developer has made a deposit to pay for the costs of the Annexation.

CFD No. 2015-1 will annually levy special taxes on all of the taxable property within the District per the Rate and Method of Apportionment to pay for the costs of services and administration of CFD No. 2015-1.

Attachments
Attachment 1- Project Map
Attachment 2 - Resolution Calling the Election
Exhibit A - Rate and Method of Apportionment
Exhibit B - Ballot
Attachment 3 - Resolution Certifying Election Results
Exhibit A – Sample Ballot
Exhibit B - Certificate of Election Results
Attachment 4 - Certificate of Registrar of Voters
MACY
ST

WINDOVER CT

SERENA WAY

TILLER LN
HILL
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FAIRVIEW
ST

CALIFORNIA ST
ULLA
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RIVERSIDE
DR

GRAND AVE
·|}þ74
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LAKESHORE DR
3RD
ST

N ICHOL S R D

MACY ST

MCV CI K E R CANYON PARK RD

MAIN ST
LASHST

RIVERSIDE DR

GUNNERSON ST

ROLANDO RD

OH OI ST AMBER LN

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CFD NO. 2015-1
ANNEXATION NO. 13

PROJECT MAP
RESOLUTION NO. 2023-_________

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,

CALIFORNIA, ACTING AS THE LEGISLATIVE BODY OF THE CITY OF LAKE ELSINORE COMMUNITY FACILITIES DISTRICT NO. 2015-1 (SAFETY

SERVICES), ANNEXING TERRITORY TO COMMUNITY FACILITIES DISTRICT NO. 2015-1 (SAFETY SERVICES), AND CALLING ELECTIONS THEREIN Whereas, on March 8, 2016, the City Council (the “City Council”) of the City of Lake Elsinore adopted Resolution No. 2016-022, declaring its intention to establish Community Facilities District No. 2015-1 of the City of Lake Elsinore (Safety Services) (“Community Facilities District No. 2015- 1” or the “District”) pursuant to the Mello-Roos Community Facilities Act of 1982, as amended, being Chapter 2.5 of Part 1 of Division 2 of Title 5 of the Government Code of the State of California (the “Act”); and
Whereas, after a duly noticed public hearing, the City Council adopted Resolution No. 2016-035 (the “Resolution of Formation”) establishing Community Facilities District No. 2015-1 and calling a special election therein to authorize (i) the levy of special taxes pursuant to the rate and method of apportionment of the special tax, as set forth in Attachment “A” attached to the Resolution No. 2016-022 (the “Original Rate and Method”), and (ii) the establishment of an appropriations limit for Community Facilities District No. 2015-1; and
Whereas, pursuant to a petition signed by Chris Willis (“V.P. of Land Acquisition & Project Management”), on January 10, 2023, the City Council adopted Resolution No. 2023-001 (the “Resolution of Intention”), stating its intention to annex the territory described in Attachment “A” to the Resolution of Intention (the “Annexation Territory”) to the District; and Whereas, a notice of a public hearing to be held on February 14, 2023 was published and mailed to all landowners of the land proposed to be included within the Annexation Territory as required by law relative to the intention of the City Council to annex the Annexation Territory to the District and to levy a special tax in accordance with the Rate and Method (as defined below); and Whereas, on February 14, 2023, this City Council held a noticed public hearing as required by law relative to the proposed annexation of the Annexation Territory, the levy of special taxes therein in accordance with the attached as Attachment “B” to the Resolution of Intention (the “Rate and Method”), which Rate and Method is identical to the Original Rate and Method in all respects except that Appendix A thereto has been updated in accordance with the terms of the Original Rate and Method to reflect the annexation described herein; and Whereas, at the February 14, 2023 public hearing all persons desiring to be heard on all matters pertaining to the proposed annexation of the Annexation Territory to the District and the levy of the special taxes within the Annexation Territory in accordance with the Rate and Method were heard and a full and fair hearing was held; and
Whereas, at the public hearing, evidence was presented to the City Council on the matters before it, and the proposed annexation of the Annexation Territory to the District and the levy of special taxes within the Annexation Territory in accordance with the Rate and Method was not precluded by a majority protest of the type described in Section 53339.6 of the Act, and this City Council at the conclusion of the hearing is fully advised as to all matters relating to the annexation of the Annexation Territory and the levy of the special taxes in accordance with the Rate and Method; and
Whereas, the City Council has determined that there have been fewer than twelve registered voters residing in the Annexation Territory for the period of 90 days prior to December 28, 2022 and that the qualified electors in Annexation Territory are the landowners therein; and Whereas, on the basis of all of the foregoing, the City Council has determined at this time to proceed with the annexation of the Annexation Territory to the District and to call an election within the Annexation Territory to authorize the levy of special taxes pursuant to the Rate and Method;

NOW, THEREFORE, THE CITY COUNCIL OF CITY OF LAKE ELSINORE, CALIFORNIA,

ACTING HAS THE LEGISLATIVE BODY OF THE CITY OF LAKE ELSINORE COMMUNITY FACILITIES DISTRICT NO. 2015-1 (SAFETY SERVICES) HEREBY FINDS, DETERMINES, RESOLVES, AND ORDERS AS FOLLOWS:

Section 1. Each of the above recitals is true and correct.

Section 2. The City Council hereby finds and determines that all prior proceedings taken with respect to the establishment of the District and the proposed annexation of the Annexation Territory to the District were valid and in conformity with the requirements of law, including the Act.

Section 3. The map showing the original boundaries of the District designated as “Map of Proposed Boundaries of Community Facilities District No. 2015-1 of the City of Lake Elsinore (Safety Services),” which map is on file in the office of the City Clerk and was recorded pursuant to Sections 3111 and 3113 of the Streets and Highways Code in the City of County Book of Maps of Assessment and Community Facilities Districts in the Assessor-County Clerk-Recorder’s office of the County of Riverside in Book No. 79 Page Nos. 45-46, on March 14, 2016 as Instrument No. 2016-00978338.

The map showing the Annexation Territory proposed to be annexed to the District and be made subject to taxation are as shown which map is on file in the office of the City Clerk and was recorded pursuant to Sections 3111 and 3113 of the Streets and Highways Code in the City of County Book of Maps of Assessment and Community Facilities Districts in the Assessor-County Clerk-Recorder’s office of the County of Riverside in Book No. 90 Page No. 29, on January 17, 2023 as Instrument No. 2023-0011600.

Section 4. The City Council hereby adopts the Rate and Method attached as Attachment “C” to the Resolution of Intention as the applicable rate and method for the Annexation Territory.

Except where funds are otherwise available, it is the intention of the City Council, subject to the approval of the eligible voters within the Annexation Territory, to levy the proposed special taxes at the rates within the Annexation Territory set forth in the Rate and Method on all non-exempt property within the Annexation Territory sufficient to pay for (i) the Services (as defined in the Rate and Method), (ii) fund an operating reserve for the costs of Services as determined by the City, and (v) Administrative Expenses (as defined in the Rate and Method). The District expects to incur, and in certain cases has already incurred, Administrative Expenses in connection with the annexation of the Annexation Territory to the District. The rate and method of apportionment of the special tax applicable to the Annexation Territory is described in detail in Attachment “C” to the Resolution of Intention which is incorporated herein by this reference, and the City Council hereby finds that Attachment “C” to the Resolution of Intention contains sufficient detail to allow each landowner within the Annexation Territory to estimate the maximum amount that may be levied against each parcel. The special tax is apportioned to each parcel on the foregoing bases pursuant to Section 53325.3 of the Act and such special tax is not on or based upon the ownership of real property.

Section 5. The City’s Assistant City Manager will be responsible for preparing annually, or authorizing a designee to prepare, a current roll of special tax levy obligations by assessor’s parcel number and will be responsible for estimating future special tax levies pursuant to Section 53340.2 of the Act. The special tax may be levied for such period as the Services are needed, as further described in Attachment “A” hereto.

Section 6. Upon recordation of a notice of special tax lien pursuant to Section 3114.5 of the Streets and Highways Code, a continuing lien to secure each levy of the special tax shall attach to all non-exempt real property in the Annexation Territory and this lien shall continue in force and effect until the levy of the special tax by the District ceases in accordance with the Rate and Method.

Section 7. Consistent with Section 53325.6 of the Act, the City Council finds and determines that the land within the Annexation Territory, if any, devoted primarily to agricultural, timber or livestock uses and being used for the commercial production of agricultural, timber or livestock products is contiguous to other land within the Annexation Territory and will be benefited by the Services proposed to be provided within Community Facilities District No. 2015-1 and the Annexation Territory.

Section 8. It is hereby further determined that there is no ad valorem property tax currently being levied on property within the Annexation Territory for the exclusive purpose of paying for the same services as are proposed to be provided by Community Facilities District No. 2015-1.

Section 9. Written protests against the annexation of the Annexation Territory to the District and the levy of the special tax therein have not been filed by one-half or more of the registered voters within the boundaries of the Annexation Territory to the District or by the property owners of one-half or more of the area of land within the boundaries of the Annexation Territory. The City Council hereby finds that the proposed special tax for the Annexation Territory has not been precluded by a majority protest pursuant to Section 53324 of the Act.

Section 10. An election is hereby called for the Annexation Territory on the propositions of annexation to the District and the levying the special tax on the property within such Annexation Territory, pursuant to Section 53339.7 of the Act. The propositions to be placed on the ballot for the Annexation Territory are attached hereto as Attachment “B.” Section 11. The date of the foregoing elections for each Proposed Annexation Territory shall be February 14, 2023, or such later date as is consented to by the City Clerk and the landowners within the Annexation Territory. The City Clerk shall conduct the elections. Except as otherwise provided by the Act, the elections shall be conducted by personally delivered or mailed ballot and, except as otherwise provided by the Act, the elections shall be conducted in accordance with the provisions of law regulating elections of the City insofar as such provisions are determined by the City Clerk to be applicable.

Section 12. It is hereby found that there are not more than twelve registered voters within the territory of the Annexation Territory, and, pursuant to Section 53339.7 of the Act, each landowner who is the owner of record on the date hereof, or the authorized representative thereof, shall have one vote for each acre or portion thereof that he or she owns within the Annexation Territory.

Section 13. This Resolution shall be effective upon its adoption.

PASSED and ADOPTED at a regular meeting of the City Council of the City of Lake Elsinore, California, this 14th day of February, 2023.

Natasha Johnson, Mayor
ATTEST:

Candice Alvarez, MMC, City Clerk

STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.

CITY OF LAKE ELSINORE )
I, Candice Alvarez, MMC, City Clerk of the City of Lake Elsinore, California, do hereby certify that Resolution No. 2023-____ was adopted by the City Council of the City of Lake Elsinore, California, at the Regular meeting of February 14, 2023, and that the same was adopted by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:
_____________________________
Candice Alvarez, MMC, City Clerk
Exhibit A
City of Lake Elsinore Page 1
Community Facilities District No. 2015-1 (Safety Services)

RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX FOR
COMMUNITY FACILITIES DISTRICT NO. 2015-1 (SAFETY SERVICES)

OF THE CITY OF LAKE ELSINORE
A Special Tax (the “Special Tax”) shall be levied on and collected from each Assessor’s Parcel (defined below) in Community Facilities District No. 2015-1 (Safety Services) (the “CFD No. 2015-1” or “CFD”; defined below), in each Fiscal Year, (defined below), commencing in the Fiscal Year beginning July 1, 2016, in an amount determined by the City Council of the City of Lake Elsinore, acting in its capacity as the legislative body of CFD No. 2015-1, by applying the rate and method of apportionment set forth below.

All of the real property in CFD No. 2015-1, unless exempted by law or by the provisions herein, shall be taxed to the extent and in the manner provided herein.

A. DEFINITIONS
“Administrative Expenses” means the actual or reasonably estimated costs directly related to the formation, annexation, and administration of CFD No. 2015-1 including, but not limited to: the costs of computing the Special Taxes and preparing the annual Special Tax collection schedules (whether by the City or designee thereof or both); the costs to the City, CFD No. 2015-1, or any designee thereof associated with fulfilling the CFD No. 2015-1 reporting requirements; the costs associated with responding to public inquiries regarding the Special Taxes; the costs of the City, CFD No. 2015-1 or any designee thereof related to an appeal of the Special Tax; and the City's annual administration fees and third party expenses. Administrative Expenses shall also include amounts estimated or advanced by the City or CFD No. 2015-1 for any other administrative purposes of CFD No. 2015-1, including attorney's fees and other costs related to commencing and pursuing to completion any foreclosure of delinquent Special Taxes.
“Administrator” means the City Manager of the City of Lake Elsinore, or his or her designee. “Assessor’s Parcel” means a lot or parcel of land that is identifiable by an Assessor’s Parcel Number by the County Assessor of the County of Riverside.
“Assessor’s Parcel Map” means an official map of the Assessor of the County designating parcels by Assessor’s Parcel Number.
“Assessor’s Parcel Number” means the identification number assigned to a parcel by the County Assessor of the County of Riverside.
“CFD” or “CFD No. 2015-1” means the City of Lake Elsinore Community Facilities District No. 2015-1 (Safety Services).
“City” means the City of Lake Elsinore.
“County” means the County of Riverside.
“Developed Property” means all Assessor’s Parcels of Taxable Property for which a building permit for new construction has been issued on or prior to March 1 preceding the Fiscal Year in which the Special Tax is being levied.
“Developed Multi-Family Property” means all Assessor's Parcels of Developed Property for which a building permit or use permit for the construction of a residential structure with two or more Exhibit A
City of Lake Elsinore Page 2
Community Facilities District No. 2015-1 (Safety Services) Residential Units that share a single Assessor's Parcel Number, as determined by the Administrator, has been issued prior to March 1 preceding the Fiscal Year in which the Special Tax is being levied. “Developed Single Family Property” means any residential property other than a Developed MultiFamily Property on an Assessor’s Parcel for which a building permit for new construction has been issued by the City on or prior to March 1 preceding the Fiscal Year in which the Special Tax is being levied.
“Exempt Property” means all Assessors’ Parcels designated as being exempt from the Special Tax as provided for in Section E.
“Fiscal Year” means the period from and including July 1st of any year to and including the following June 30th.
“Maximum Special Tax” means the Maximum Special Tax, as applicable, levied within the CFD for any Fiscal Year.
“Future Annexation Area” means any area included inside the boundaries of the proposed boundary map included in Appendix C.
“Proportionately” means for Taxable Property, that the ratio of the actual Special Tax levy to the Maximum Special Tax is the same for all Assessor’s Parcels. “Residential Unit” or "RU" means a residential unit that is used or intended to be used as a domicile by one or more persons, as determined by the Administrator. “Residential Property” means all Assessor’s Parcels of Taxable Property upon which completed Residential Units have been constructed or for which building permits have been or may be issued for purposes of constructing one or more Residential Units. “Services” means services permitted under the Mello-Roos Community Facilities Act of 1982 including, without limitation, those services authorized to be funded by CFD No. 2015-1 as set forth in Appendix B.
“Special Tax” means the Special Tax to be levied in each Fiscal Year on each Assessor’s Parcel of Taxable Property.
"Special Tax Requirement" means the amount to be collected in any Fiscal Year to pay for certain costs as required to meet the public safety needs of CFD No. 2015-1 in both the current Fiscal Year and the next Fiscal Year. The costs to be covered shall be the direct costs for (i) police protection services, (ii) fire protection and suppression services, (iii) paramedic services, (iv) fund an operating reserve for the costs of Services as determined by the Administrator, and (v) Administrative Expenses.

Under no circumstances shall the Special Tax Requirement include funds for bonds. "Taxable Property" means all Assessor’s Parcels within CFD No. 2015-1, which are not Exempt Property.
“Taxable Unit” means a Residential Unit.

Exhibit A
City of Lake Elsinore Page 3
Community Facilities District No. 2015-1 (Safety Services) B. RATE AND METHOD OF APPORTIONMENT OF MAXIMUM SPECIAL TAX RATES As of July 1 of each Fiscal Year, commencing July 1, 2016, the Council shall determine the Special Tax Requirement and shall levy the Special Tax upon each of the Assessor’s Parcels within the CFD which constitute a Developed Single Family Property or a Developed Multi-Family Property until the aggregate amount of Special Tax equals the Special Tax Requirement. The Special Tax shall be levied Proportionately on all Assessor’s Parcels of Developed Property up to 100% of the applicable Maximum Special Tax to satisfy the Special Tax Requirement.

The Maximum Special Tax for Fiscal Year 2016-2017 for a Developed Single Family Property and a Developed Multi-Family Property are shown below in Table 1.

TABLE 1

MAXIMUM SPECIAL TAX RATES
FISCAL YEAR 2016-2017
Description
Taxable
Unit
Maximum
Special Tax
Developed Single Family Property RU $685
Developed Multi-Family Property RU $419
Increase in the Maximum Special Tax
On each July 1, commencing on July 1, 2017 the Maximum Special Tax for Developed Property shall increase by i) the percentage increase in the Consumer Price Index (All Items) for Los Angeles - Riverside - Orange County (1982-84 = 100) since the beginning of the preceding Fiscal Year, or ii) by four percent (4.0%), whichever is greater.

No Special Tax shall be levied on property which, at the time of adoption of the Resolution of Formation for CFD No. 2015-1 is an Exempt Property.

C. FUTURE ANNEXATIONS
It is anticipated that additional properties will be annexed to CFD No. 2015-1 from time to time.

Pursuant to California Government Code section 53339 et seq., the rate and method adopted for the annexed property shall reflect the Maximum Special Tax rate at the then current year’s Maximum Special Tax rate as set forth in Appendix A.

D. TERM OF SPECIAL TAX
For each Fiscal Year, the Maximum Special Taxes shall be levied as long as the Services are being provided within the boundaries of CFD No. 2015-1.

E. EXEMPTIONS
The City shall classify as Exempt Property within CFD No. 2015-1, any Assessor’s Parcel in any of the following categories; (i) Assessor’s Parcels which are owned by, irrevocably offered for dedication, Exhibit A
City of Lake Elsinore Page 4
Community Facilities District No. 2015-1 (Safety Services) encumbered by or restricted in use by any public entity; (ii) Assessor’s Parcels with public or utility easements making impractical their utilization for other than the purposes set forth in the easement; (iii) Assessor’s Parcels which are privately owned but are encumbered by or restricted solely for public uses; (iv) any Assessor’s Parcel which is in use in the performance of a public function as determined by the Administrator; or (v) any Assessor’s Parcel which is not a Developed Single Family Property or a Developed Multi-Family Property.

F. APPEALS
Any property owner claiming that the amount or application of the Special Taxes are not correct may file a written notice of appeal with the City not later than twelve months after having paid the first installment of the Special Tax that is disputed. The Administrator shall promptly review the appeal, and if necessary, meet with the property owner, consider written and oral evidence regarding the amount of the Special Tax, and rule on the appeal. If the Administrator’s decision requires that the Special Tax for an Assessor’s Parcel be modified or changed in favor of the property owner, a cash refund shall not be made, but an adjustment shall be made to the Special Tax on that Assessor’s Parcel in the subsequent Fiscal Year(s).

G. MANNER OF COLLECTION
The Maximum Special Taxes levied in each Fiscal Year shall be collected in the same manner as ordinary ad valorem property taxes are collected and shall be subject to the same penalties and the same procedure, sale, and lien priority in case of delinquency as is provided for ad valorem taxes.

However, the District may collect the Special Tax at a different time or in a different manner if necessary to meet its financial obligations.

The Maximum Special Taxes when levied shall be secured by the lien imposed pursuant to Section 3115.5 of the Streets and Highways Code. This lien shall be a continuing lien and shall secure each levy of Maximum Special Taxes. The lien of Maximum Special Taxes shall continue in force and effect until the Special Tax ceases to be levied in the manner provided by Section 53330.5 of the Government Code.

Exhibit A
City of Lake Elsinore Page 5
Community Facilities District No. 2015-1 (Safety Services)

APPENDIX A

CITY OF LAKE ELSINORE
COMMUNITY FACILITIES DISTRICT NO. 2015-1
(SAFETY SERVICES)

ANNEXATION SUMMARY
Safety Services - It is estimated that the cost of providing police, fire protection, and paramedic services being funded by the Special Tax for the Community Facilities District No. 2015-1 (Safety Services) will be as follows for the Fiscal Year 2016-2017:
 $685 per residential unit for Developed Single Family Residential Property  $419 per residential unit for Developed Multi-Family Residential Property Annual Escalation - On each July 1, commencing on July 1, 2017 the Maximum Special Tax for Developed Property shall increase by i) the percentage increase in the Consumer Price Index (All Items) for Los Angeles - Riverside - Orange County (1982-84 = 100) since the beginning of the preceding Fiscal Year, or ii) by four percent (4.0%), whichever is greater.

Annex.
#
Fiscal
Year Tract
Development
Name
No. of
Taxable
Units
Land Use
Category
Maximum
Special
Tax at Annex. Subdivider
Original 2016-17 36557 Terracina 452 Developed Single
Family Property $685.00
Terracina Investors, LLC
& C/O Spectrum
Communities
Original 2016-17 36682 Senterra 74 Developed Single
Family Property $685.00 Pardee Homes
1 2016-17 33486 Makenna Court 81 Developed Single
Family Property $685.00 SAM-McKenna
2 2016-17 28214
-6, -7, -8
Skypointe at
Alberhill Ranch 82 Developed Single Family Property $685.00 KB Homes 3 2018-19 31957 Running Deer 96 Developed Single
Family Property $740.90 SAM-Running Deer
4 2018-19 37381 &
37382 Wasson Canyon II 272 Developed Single Family Property $740.90 Ava Karras 5 2019-20 33267 Westlake 163 Developed Single
Family Property $770.53 Pardee Homes
6 2019-20 37305 Nichols Ranch 168 Developed Single
Family Property $770.53 Nichols RD Partners, LLC
7 2020-21 30698 &
32129 Rosetta Hills 178 Developed SingleFamily Property $801.35 Three Strands Properties
& Spectrum
Communities
8 2021-22 33370 Tessera 90 Developed Single
Family Property $833.41 JLJ, LP
9 2021-22 33725 &
25475
Tuscany Valley/
Crest 335 Developed SingleFamily Property $833.41 Shopoff Realty Investment 10 2021-22 38008 Ridgeline at
Westridge 60 Developed Single Family Property $833.41 Tri Pointe Homes 11 2021-22 38214-9 Alberhill Ranch 344 Developed Single Family Property $833.41 Alberhill Development, LLC
12 2022-23 37280 Lakeshore 140 Developed Single
Family Property $917.08 Lake Elsinore Lakeshore, LLC & Erin Crowder 13 2022-23 38116 Lakeside 140 Developed Single
Family Property $917.08 Tri Pointe Homes IE-SD, Inc.

Exhibit A
City of Lake Elsinore Page 6
Community Facilities District No. 2015-1 (Safety Services)

PPENDIX B

CITY OF LAKE ELSINORE
COMMUNITY FACILITIES DISTRICT NO. 2015-1
(SAFETY SERVICES)

DESCRIPTION OF AUTHORIZED SERVICES
The services which may be funded with proceeds of the special tax of CFD No. 2015-1, as provided by Section 53313 of the Act, will include some or all of the costs attributable to public safety.

These services include police protection services (including but not limited to criminal justice services), fire protection and suppression services, and paramedic services.

In addition to payment of the cost and expense of the forgoing services, proceeds of the special tax may be expended to pay “Administrative Expenses” as said term is defined in the Rate and Method of Apportionment and to establish an operating reserve for the costs of services as determined by the Administrator.

The above services shall be limited to those provided within the boundaries of CFD No. 2015-1 and the Future Annexation Area of CFD No. 2015-1 or for the benefit of the properties within the boundaries of CFD No. 2015-1 and the Future Annexation Area of CFD No. 2015-1, as the boundary is expanded from time to time by anticipated annexations, and said services may be financed by proceeds of the special tax of CFD No. 2015-1 only to the extent that they are in addition to those provided in the territory of CFD No. 2015-1 before CFD No. 2015-1 was created.

Exhibit A
City of Lake Elsinore Page 7
Community Facilities District No. 2015-1 (Safety Services)

APPENDIX C

CITY OF LAKE ELSINORE
COMMUNITY FACILITIES DISTRICT NO. 2015-1 (SAFETY SERVICES)

PROPOSED BOUNDARIES AND BOUNDARIES - FUTURE ANNEXATION AREA

Exhibit B

SPECIAL TAX ELECTION

CITY OF LAKE ELSINORE

ANNEXATION OF TERRITORY TO
COMMUNITY FACILITIES DISTRICT NO. 2015-1 (SAFETY SERVICES) ANNEXATION NO. 13
(February 14, 2023)
This ballot is for the use of the authorized representative of the following owner of land within Annexation No. 13 of the Community Facilities District No. 2015-1 (Safety Services) (“CFD No. 2015-1”) of the City of Lake Elsinore:

Name of Landowner
Number of Acres
Owned Total Votes
Tri Pointe Homes IE-SD, Inc. 34.81 35

According to the provisions of the Mello-Roos Community Facilities Act of 1982, and resolutions of the City Council (the “Council”) of the City of Lake Elsinore (the “City”), the above-named landowner is entitled to cast the number of votes shown above under the heading “Total Votes,” representing the total votes for the property owned by said landowner. The City has sent the enclosed ballot to you so that you may vote on whether or not to approve the special tax.

This special tax ballot is for the use of the property owner of the parcels identified below, which parcels are located within the territory proposed to be annexed to the CFD No. 2015-1, City of Lake Elsinore, County of Riverside, State of California. Please advise the City Clerk, at (951) 674- 3124 x 261 if the name set forth below is incorrect or if you are no longer one of the owners of these parcels. This special tax ballot may be used to express either support for or opposition to the proposed special tax. To be counted, this special tax ballot must be signed below by the owner or, if the owner is not an individual, by an authorized representative of the owner. The ballot must then be delivered to the City Clerk, either by mail or in person, as follows:

Mail
Delivery: If by mail, place ballot in the return envelope provided, and mail no later than January 31, 2023, two calendar weeks prior to the date set for the election. Mailing later than this deadline creates the risk that the special tax ballot may not be received in time to be counted.

Personal
Delivery: If in person, deliver to the City Clerk at any time up to 7:00 p.m. on February 14, 2023, at the Clerk’s office at 130 N Main St. Lake Elsinore, CA 92530.

However delivered, this ballot must be received by the Clerk prior to the close of the public meeting on February 14, 2023.

Very truly yours,
Candice Alvarez, MMC,
City Clerk
Exhibit B
TO CAST THIS BALLOT, PLEASE RETURN THIS ENTIRE PAGE.

OFFICIAL SPECIAL TAX BALLOT
Name & Address of Property Owner: Assessor’s Parcel Number(s):

Tri Pointe Homes IE-SD, Inc.

Attn: Chris Willis
1250 Corona Pointe Court, Suite 600
Corona, CA 92879
379-060-005, 379-060-022, 379-060-027

ANNEXATION OF TERRITORY TO
COMMUNITY FACILITIES DISTRICT NO. 2015-1 (SAFETY SERVICES) ANNEXATION NO. 13
AN “X” OR OTHER MARK WILL CAST ALL VOTES ASSIGNED TO THIS BALLOT PROPOSITION A: Shall the territory described in Attachment “A” of Resolution No. 2023-001 of the City Council of the City of Lake Elsinore be annexed to Community Facilities District No. 2015-1 of the City of Lake Elsinore (Safety Services)?
MARK “YES” OR “NO”
WITH AN “X”:

YES _________
NO _________
PROPOSITION B: Shall a special tax with a rate and method of apportionment as provided in Attachment “B” to Resolution No. 2023- 001 of the City Council of the City of Lake Elsinore be levied to pay for the Services and other purposes described in Resolution No. 2016-035?
MARK “YES” OR “NO”
WITH AN “X”:

YES _________
NO _________
Certification for Special Election Ballot
The undersigned is an authorized representative of the above-named landowner and is the person legally authorized and entitled to cast this ballot on behalf of the above-named landowner.

I declare under penalty of perjury under the laws of the State of California that the foregoing is true and correct and that this declaration is executed on ____________, 20__.

Chris Willis
Vice President
Signature
Print Name
Title
RESOLUTION NO. 2023-_________

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,

CALIFORNIA, ACTING AS THE LEGISLATIVE BODY OF THE CITY OF LAKE ELSINORE COMMUNITY FACILITIES DISTRICT NO. 2015-1 (SAFETY SERVICES) CERTIFYING THE RESULTS OF THE FEBRUARY 14, 2023

ANNEXATION AND SPECIAL TAX ELECTIONS
Whereas, the City Council (the “City Council”) of City of Lake Elsinore (the “City”) called and duly held consolidated elections on February 14, 2023 within the boundaries of certain territory (the “Annexation Territory”) described in Attachment “A” to Resolution No. 2023-001 adopted by the City Council on January 10, 2023, which territory is to be annexed to Community Facilities District No. 2015-1 (Safety Services) of the City of Lake Elsinore (“Community Facilities District No. 2015- 1” or the “District”) pursuant to Resolution No. 2023-001 for the purpose of presenting to the qualified electors within the Annexation Territory the propositions attached hereto as Attachment A; and
Whereas, there has been presented to this City Council a certificate of the City Clerk canvassing the results of the election, a copy of which is attached hereto as Attachment B;

NOW, THEREFORE, THE CITY COUNCIL OF CITY OF LAKE ELSINORE, CALIFORNIA,

ACTING AS THE LEGISLATIVE BODY OF THE CITY OF LAKE ELSINORE COMMUNITY FACILITIES DISTRICT NO. 2015-1 (SAFETY SERVICES) HEREBY FINDS, DETERMINES, RESOLVES, AND ORDERS AS FOLLOWS:

Section 1. Each of the above recitals is true and correct and is adopted by the legislative body of the District.

Section 2. Propositions A and B presented to the qualified electors of the Annexation Territory on February 14, 2023 were approved by more than two-thirds of the votes cast at the election held for the Annexation Territory and Propositions A and B each has carried. The City Council, acting as the legislative body of the District, is hereby authorized to levy on the land within the Annexation Territory, which is hereby annexed to the District in accordance with Proposition A, the special tax described in Proposition B for the purposes described therein.

Section 3. The City Council, acting as the legislative body of the District, is hereby authorized to take the necessary steps to levy the special tax authorized by Proposition B in accordance with Ordinance No. 2016-1356 approved by the City Council, acting as the legislative body of the District.

Section 4. The City Clerk is hereby directed to record in the Office of the County Recorder within fifteen days of the date hereof a notice of special tax lien for the Annexation Territory which Bond Counsel to the District shall prepare in the form required by Streets and Highways Code Section 3114.5.

ATTACHMENT D-2
PASSED and ADOPTED at a regular meeting of the City Council of the City of Lake Elsinore, California, this 14th day of February 2023.

Natasha Johnson, Mayor
ATTEST:

Candice Alvarez, MMC, City Clerk

STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.

AYES:

NOES:

ABSENT:

ABSTAIN:
_____________________________
Candice Alvarez, MMC,
City Clerk
ATTACHMENT “A”
SAMPLE

SPECIAL TAX ELECTION

CITY OF LAKE ELSINORE

Name of Landowner
Number of Acres
Owned Total Votes
Tri Pointe Homes IE-SD, Inc. 34.81 35
According to the provisions of the Mello-Roos Community Facilities Act of 1982, and resolutions of the City Council (the “Council”) of the City of Lake Elsinore (the “City”), the above-named landowner is entitled to cast the number of votes shown above under the heading “Total Votes,” representing the total votes for the property owned by said landowner. The City has sent the enclosed ballot to you so that you may vote on whether or not to approve the special tax.

This special tax ballot is for the use of the property owner of the parcels identified below, which parcels are located within the territory proposed to be annexed to the CFD No. 2015-1, City of Lake Elsinore, County of Riverside, State of California. Please advise the City Clerk, at (951) 674-3124 x 261 if the name set forth below is incorrect or if you are no longer one of the owners of these parcels. This special tax ballot may be used to express either support for or opposition to the proposed special tax. To be counted, this special tax ballot must be signed below by the owner or, if the owner is not an individual, by an authorized representative of the owner. The ballot must then be delivered to the City Clerk, either by mail or in person, as follows:

Personal
Delivery: If in person, deliver to the City Clerk at any time up to 7:00 p.m. on February 14, 2023, at the Clerk’s office at 130 N Main St. Lake Elsinore, CA 92530.

However delivered, this ballot must be received by the Clerk prior to the close of the public meeting on February 14, 2023.

Very truly yours,
Candice Alvarez, MMC,
City Clerk
ATTACHMENT D-2
TO CAST THIS BALLOT, PLEASE RETURN THIS ENTIRE PAGE.

OFFICIAL SPECIAL TAX BALLOT
Name & Address of Property Owner: Assessor’s Parcel Number(s):

Tri Pointe Homes IE-SD, Inc.

Attn: Chris Willis
1250 Corona Pointe Court, Suite 600
Corona, CA 92879
379-060-005, 379-060-022, 379-060-027

I declare under penalty of perjury under the laws of the State of California that the foregoing is true and correct and that this declaration is executed on ____________, 20__.

Chris Willis
Vice President
Signature
Print Name
Title
ATTACHMENT “B”

CITY OF LAKE ELSINORE
COMMUNITY FACILITIES DISTRICT NO. 2015-1 (SAFETY SERVICES) ANNEXATION NO. 13

CERTIFICATE OF ELECTION RESULTS
I, the undersigned, being the Deputy City Clerk or the Acting City Clerk, as the case may be, hereby certify:

In connection with the special mailed-ballot election called by the City Council (the “City Council”) of the City of Lake Elsinore (the “City”) on this same date in the proceedings of the City Council for the annexation of territory to the above-entitled community facilities district, I personally received (a) a signed and dated waiver and consent form and (b) a signed, dated and marked election ballot(s) on behalf of the owner(s) listed below, the entity named as the sole landowner of the land within the boundary of the above-entitled community facilities district in the Certificate Regarding Registered Voters and Landowners, dated December 28, 2022, and on file in the office of the City Clerk of the City in connection with the City Council actions on that date.

Copies of the completed waiver and consent form and the completed ballot received by me and on file in my office are attached hereto.

Following such receipt, I have personally, and in the presence of all persons present, reviewed the ballot to confirm that it is properly marked and signed, and I hereby certify the result of that count to be that the ballot was cast in favor of the measure.

Based upon the foregoing, all votes that were cast having been cast “Yes”, in favor of the ballot measures, the measures has therefore passed.

PROPOSITION A PROPOSITION B
Landowner
Qualified
Landowner
Votes
Votes
Cast YES NO YES NO
Tri Pointe Homes IE-SD, Inc. 35 35
Total 35 35
I declare under penalty of perjury under the laws of the State of California that the foregoing is true and correct and that this declaration is executed on ____________, 2023.

Candice Alvarez, MMC
City Clerk
City of Lake Elsinore
By:

Page 1 of 3 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor or Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Shannon Buckley, Assistant City Manager
Date: February 14, 2023
Subject: Public Hearing and Election for Annexation Proceedings for Annexation No. 18 into Community Facilities District No. 2015-2 (Maintenance Services) for Lakeside
Recommendation

1. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,

CALIFORNIA, CALLING AN ELECTION TO SUBMIT TO THE QUALIFIED ELECTORS THE

QUESTION OF LEVYING A SPECIAL TAX WITHIN THE AREA PROPOSED TO BE ANNEXED TO COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) (ANNEXATION NO. 18);

2. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,

CALIFORNIA, DECLARING ELECTION RESULTS FOR COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) (ANNEXATION NO. 18); and

3. Introduce AN ORDINANCE AMENDING ORDINANCE NO. 2016-1359 OF THE CITY

COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, ACTING IN ITS CAPACITY AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 2015-2 OF THE

CITY OF LAKE ELSINORE (MAINTENANCE SERVICES) AUTHORIZING THE LEVY OF SPECIAL TAXES.

CFD No. 2015-2 Annexation No. 18
February 14, 2023

Page 2 of 3 ends

Background/Discussion
On January 10, 2023, the City Council adopted Resolution No. 2023-002, declaring its intention to annex territory to Community Facilities District No. 2015-2 (Maintenance Services) and commence the annexation proceedings for the territory to be annexed, also known as Annexation No. 18. A public hearing was set for February 14, 2023. Following such a public hearing, if there is no majority protest against the annexation and the special tax levy, the City Clerk will conduct an election for the landowners and declare the election results.

As required by the Resolution of Intention, an annexation map was recorded on January 10, 2023, at 8:55 a.m. in Book 90, Page 30, Document No. 2023-0011601 of Maps of Assessment and Community Facilities Districts with the Riverside County Recorder.

Tri Pointe Homes IE-SD, Inc. (the "Owner"). The City Council adopted the Resolution of Intention in response to a request by the Owners for the City to assist them in annexing territory into CFD No. 2015-2 (Maintenance Services) to cover the costs associated with the maintenance of public improvements. The improvements proposed to be maintained items such as landscaping, lighting, street maintenance, parks, and graffiti abatement. The Applicants have agreed to the annexation into the CFD and submitted a "Consent and Waiver" form on file in the City Clerk's Office to initiate and conduct proceedings according to the Mello-Roos Act of 1982, requesting the annexation of property to CFD No. 2015-2 (Maintenance Services) and consenting to the shortening of election time requirements, waiving analysis and arguments, and waiving all notice requirements relating to the conduct of the election.

The original area proposed within Annexation No. 18 will encompass 140 detached single-family residential lots. The territory proposed to be annexed into CFD No. 2015-2 will be included in Tax Zone 21. The proposed maximum tax rate is $387 per unit per year for Special Tax A and $82 per unit per year for Special Tax B. The maximum annual tax rates are proposed to escalate yearly at the greater Consumer Price Index (CPI) or 2%.

To annex property to CFD No. 2015-2 under the provisions of California Government Code Section 53311 et seq., the City must adopt a series of three statutorily required Resolutions and an Ordinance, which are summarized below.
• Resolution declaring the City's intent to annex territory to Community Facilities District No. 2015-2, including the boundary of the area to be annexed and the rate and method of apportionment of special taxes within the annexation area (the special tax applies only to properties within the annexation area), adopted January 10, 2023. • Resolution calling an election to submit to the qualified electors the question of levying a special tax within the area proposed to be annexed to the District. • Resolution declaring the election results and directing the recording of the notice of special tax lien.
• Amend the Ordinance and order the levy and collection of special taxes in the District.

CFD No. 2015-2 Annexation No. 18
February 14, 2023

Page 3 of 3 ends

With the adoption of the Resolutions and the first reading of the amended Ordinance, the second reading of the amended Ordinance would be scheduled for February 28, 2023.

Fiscal Impact
On March 1 of each year, every taxable property for which a building permit has been issued will be subject to special taxes in the ensuing Fiscal year. Suppose the anticipated costs of maintaining the facilities in any given Fiscal Year before the project's buildout exceeds the special tax revenues available from parcels for which building permits have been issued. In that case, the special tax may also be on undeveloped property within the Tax Zone.

Once developed, the Special Tax A for Tax Zone 21 will generate $54,112 annually, plus the annual escalator for maintenance services.

Attachments
Attachment 1- Project Map
Attachment 2 - Resolution Calling the Election
Exhibit A - Rate and Method of Apportionment
Exhibit B - Ballot
Attachment 3 - Resolution Certifying Election Results
Exhibit A - Certificate of Election Results
Attachment 4 - Certificate of Registrar of Voters
Attachment 5 - Ordinance
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CFD NO. 2015-2
ANNEXATION NO. 18

PROJECT MAP
RESOLUTION NO. 2023-_________

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,

CALIFORNIA, CALLING AN ELECTION TO SUBMIT TO THE QUALIFIED

ELECTORS THE QUESTION OF LEVYING A SPECIAL TAX WITHIN THE AREA PROPOSED TO BE ANNEXED TO COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) (ANNEXATION NO. 18)
Whereas, on September 22, 2015 the City Council (the “City Council”) of the City of Lake Elsinore (the “City”) approved Resolution No. 2015-078 declaring the City’s intention to establish Community Facilities District No. 2015-2 (Maintenance Services) of the City of Lake Elsinore, County of Riverside, State of California (the "CFD No. 2015-2") for the purpose of levying special taxes on parcels of taxable property therein for the purpose of providing certain services which are necessary to meet increased demands placed upon the City as a result of the development of said real property; and
Whereas, the City Council set a public hearing for September 22, 2015 after which the Council adopted Resolution No. 2015-078 forming the CFD No. 2015-2 and calling a special election at which the questions of levying a special tax and establishing an appropriations limit with respect to the CFD No. 2015-2 were submitted to the qualified electors within the CFD No. 2015-2; and Whereas, on September 22, 2015, the City Council adopted Resolution No. 2015-079 declaring the results of the special election and finding that more than two-thirds (2/3) of all votes cast at the special election were cast in favor of the proposition presented, and such proposition passed; and
Whereas, the City Council is authorized by Article 3.5 (commencing with Section 53339) of Chapter 2.5 of Part 1 of Division 2 of Title 5 of the Government Code as amended (the "Act"), to annex territory into an existing community facilities district by complying with the procedures set forth in said Article 3.5; and
Whereas, the City Council on January 10, 2023 duly adopted Resolution No. 2023-002 (the “Resolution of Intention”) declaring its intention to annex certain territory to CFD No. 2015-2 (Maintenance Services) and to levy a special tax within that territory to pay for certain services and setting a time and place for the public hearing on the proposed annexation for February 14, 2023; and
Whereas, the territory proposed to be annexed is identified in a map entitled "Annexation Map No. 18 Community Facilities District No. 2015-2 (Maintenance Services)" a copy of which was recorded, on January 17, 2023, in Book 90 of Maps of Assessment and Community Facilities Districts at Page 30, in the office of the Riverside County Recorder; and Whereas, pursuant to the Act and the Resolution of Intention, a noticed public hearing was convened by the City Council on February 14, 2023, not earlier than the hour of 7:00 p.m. at the City Hall located at 183 N Main Street, Lake Elsinore, California 92530, relative to the proposed annexation of said territory to CFD No. 2015-2; and
Whereas, written protests have not been filed by fifty percent (50%) or more of the registered voters residing within the CFD No 2015-2, or by fifty percent (50%) or more of the registered voters residing within the territory to be annexed, or by the owners of one-half (1/2) or more of the CC Res. No. 2023-_____

Page 2 of 5 ends

area within the CFD No. 2015-2, or by the owners of one-half (1/2) or more of the territory to be annexed; and
Whereas, the City Council has determined that there are fewer than twelve registered voters residing in the territory proposed to be annexed to the CFD No. 2015-2 and that the qualified electors in such territory are the landowners; and
Whereas, on the basis of all of the foregoing, the City Council has determined at this time to call an election to authorize the annexation of territory to the CFD No. 2015-2 and the levying of a special tax as described in Exhibit A hereto; and
Whereas, the City Council has received a written instrument from each landowner in the territory proposed to be annexed to the CFD No. 2015-2 consenting to the shortening of election time requirements, waiving analysis and arguments, and waiving all notice requirements relating to the conduct of the election; and
Whereas, the City Clerk has concurred in the election date set forth herein.

NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LAKE

ELSINORE, ACTING EX OFFICIO AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT 2015-2 (MAINTENANCE SERVICES) OF THE CITY OF LAKE ELSINORE, DETERMINE AND ORDER AS FOLLOWS:

Section 1. Recitals. The foregoing recitals are true and correct.

Section 2. Conformation of Finding in Resolution of Intention. The City Council reconfirms all of its findings and determinations as set forth in the Resolution of Intention.

Section 3. Findings Regarding Protests. The City Council finds and determines that written protests to the proposed annexation of territory to the CFD No. 2015-2 and the levy of the special tax within such territory are insufficient in number and in amount under the Act, and the City Council hereby further orders and determines that all such protests are hereby overruled.

Section 4. Findings Regarding Prior Proceedings. The City Council finds and determines that all prior proceedings had and taken by the City Council with respect to the annexation of territory to CFD No. 2015-2 are valid and in conformity with the requirements of the Act.

Section 5. Levy of Special Tax. As stated in the Resolution of Intention, except where funds are otherwise available, subject to the approval of the qualified electors of territory proposed to be annexed to CFD No. 2015-2, a special tax sufficient to pay the costs of the Services (including incidental expenses as described in the Resolution of Intention), secured by recordation of a continuing lien against all nonexempt real property in CFD No. 2015-2, will be levied annually in CFD No. 2015-2. The rate and method of apportionment, and manner of collection of the special tax are specified in Exhibit A hereto.

Section 6. Apportionment of Tax. The special tax as apportioned to each parcel is based on the cost of making the Services available to each parcel, or other reasonable basis, and is not based on or upon the ownership of real property.

Section 7. Tax Roll Preparation. The office of the Assistant City Manager, 130 South Main Street, City of Lake Elsinore, is hereby designated as the office that will be responsible for CC Res. No. 2023-_____

Page 3 of 5 ends

annually preparing a current roll of special tax levy obligations by assessor’s parcel number and that will be responsible for estimating future special tax levies pursuant to Government Code section 53340.2. The Assistant City Manager may cause these functions to be performed by his or her deputies, assistants, or other designated agents.

Section 8. Accountability Measures. Pursuant to Section 50075.1 of the California Government Code, the City shall create a separate account into which tax proceeds will be deposited; and the Assistant City Manager annually shall file a report with the City Council that will state (a) the amount of funds collected and expended and (b) the status of the Services financed in CFD No. 2015-2.

Section 9. Special Election; Voting Procedures. The City Council hereby submits the questions of levying the special tax within the territory proposed to be annexed to the qualified electors, in accordance with and subject to the Act. The special election shall be held on February 14, 2023, and shall be conducted as follows:
(a) Qualified Electors. The City Council hereby determines that the Services are necessary to meet increased demands placed upon the City as a result of development occurring within the boundaries of CFD No. 2015-2. Because fewer than twelve registered voters resided within the territory proposed to be annexed to CFD No. 2015-2 on December 28, 2022 (a date within the 90 days preceding the close of the public hearing on the territory proposed to be annexed to CFD No. 2015-2), the qualified electors shall be the landowners within territory proposed to be annexed, and each landowner who was the owner of record at the close of the hearing shall have one vote for each acre or portion of an acre of land that such landowner owns within the territory proposed to be annexed to CFD No. 2015-2. (b) Consolidation of Elections; Combination of Propositions on Ballot. The election on the question of levying the special tax and establishing an appropriations limit for CFD No. 2015-2 shall be consolidated, and the two proportions shall be combined into a single ballot proposition for submission to the voters, as authorized by Government Code Section 53353.5. (c) Mail Ballot Election. Pursuant to Government Code section 53327.5, the election shall be conducted as a mail ballot election. The City Council hereby ratifies the City Clerk’s delivery of a ballot to each landowner within the territory proposed to be annexed to CFD No. 2015-2. The City Council hereby ratifies the form of the ballot, which is attached hereto as Exhibit B.
(d) Return of Ballots. The City Clerk shall accept the ballots of the landowners up to 7:00 p.m. on February 14, 2023. The City Clerk shall have available ballots that may be marked at the City Clerk’s office on the election day by voters. Once all qualified electors have voted, the City Clerk may close the election.
(e) Canvass of Election. The City Clerk shall commence the canvass of the returns of the special election as soon as the election is closed (on February 14, 2023, or when all qualified electors have voted) at the City Clerk’s office. At the conclusion of the canvass, the City Clerk shall declare the results of the election.
(f) Declaration of Results. The City Council shall declare the results of the special election following the completion of the canvass of the returns and shall cause to be inserted into its minutes a statement of the results of the special election as ascertained by the canvass of the returns.

CC Res. No. 2023-_____

Page 4 of 5 ends

Section 10. Filing of Resolution and Map with City Clerk. The City Council hereby directs the City Clerk to file a copy of this resolution and the annexation map of the boundaries of CFD No. 2015-2 in her office.

PASSED and ADOPTED at a regular meeting of the City Council of the City of Lake Elsinore, California, this 14th day of February 2023.

Natasha Johnson, Mayor
ATTEST:

Candice Alvarez, MMC
City Clerk
CC Res. No. 2023-_____

Page 5 of 5 ends

STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.

AYES:

NOES:

ABSENT:

ABSTAIN:
_____________________________
Candice Alvarez, MMC
City Clerk

EXHIBIT A
City of Lake Elsinore 1
Community Facilities District No. 2015-2 (Maintenance Services)

RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX FOR
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES)

OF THE CITY OF LAKE ELSINORE
A Special Tax (the “Special Tax”) shall be levied on and collected from each Assessor’s Parcel (defined below) in Community Facilities District No. 2015-2 (Maintenance Services) (the “CFD No. 2015-2” or “CFD”; defined below), in each Fiscal Year, (defined below), commencing in the Fiscal Year beginning July 1, 2015, in an amount determined by the City Council of the City of Lake Elsinore, acting ex officio as the legislative body of CFD No. 2015-2, by applying the rate and method of apportionment set forth below.

All of the real property in CFD No. 2015-2, unless exempted by law or by the provisions herein, shall be taxed to the extent and in the manner provided herein.

EXHIBIT A
City of Lake Elsinore 2
Community Facilities District No. 2015-2 (Maintenance Services) “Building Square Footage” or “BSF” means the floor area square footage reflected on the original construction building permit issued for construction of a building of Non-Residential Property and any Building Square Footage subsequently added to a building of such Taxable Property after issuance of a building permit for expansion or renovation of such building. “Calendar Year” means the period commencing January 1 of any year and ending the following December 31.
“CFD” or “CFD No. 2015-2” means the City of Lake Elsinore Community Facilities District No. 2015-2 (Maintenance Services).
“City” has the meaning set forth in the preamble.
“Contingent Special Tax B Requirement” means that amount required in any Fiscal Year, if the POA is unable to maintain the Service(s) to: (i) pay the costs of Services incurred or otherwise payable in the Calendar Year commencing in such Fiscal Year; (ii) fund an operating reserve for the costs of Services as determined by the Administrator; less a credit for funds available to reduce the annual Special Tax B (Contingent) levy as determined by the Administrator. “County” means the County of Riverside.
“Developed Property” means all Assessor’s Parcels of Taxable Property for which a building permit for new construction has been issued on or prior to March 1 preceding the Fiscal Year in which the Special Tax is being levied.
“Exempt Property” means all Assessors’ Parcels designated as being exempt from the Special Tax as provided for in Section G.
“Final Map” means a subdivision of property by recordation of a final map, parcel map, or lot line adjustment, pursuant to the Subdivision Map Act (California Government Code Section 66410 et seq.) or recordation of a condominium plan pursuant to California Civil Code 1352 that creates individual lots for which building permits may be issued without further subdivision. “Fiscal Year” means the period from and including July 1st of any year to and including the following June 30th.
“Land Use Category” or “LUC” means any of the categories contained in Section B hereof to which an Assessor’s Parcel is assigned consistent with the land use approvals that have been received or proposed for the Assessor’s Parcel as of March 1 preceding the Fiscal Year in which the Special Tax is being levied.
“Maximum Special Tax” means either Maximum Special Tax A and/or Maximum Special Tax B (Contingent), as applicable.
“Maximum Special Tax A” means the Maximum Special Tax A, as determined in accordance with Section C below that can be levied in any Fiscal Year on any Assessor's Parcel of Taxable Property within CFD No. 2015-2.

EXHIBIT A
City of Lake Elsinore 3
Community Facilities District No. 2015-2 (Maintenance Services) “Maximum Special Tax B (Contingent)” means the Maximum Special Tax B (Contingent), as determined in accordance with Section C below that can be levied in any Fiscal Year on any Assessor's Parcel of Taxable Property within CFD No. 2015-2.
“Multi-Family Residential Property” means any Assessor’s Parcel of residential property that consists of a building or buildings comprised of attached Residential Units sharing at least one common wall with another unit.
“Non-Residential Property” or “NR” means all Assessor's Parcels of Taxable Property for which a building permit(s) was issued for a non-residential use. The Administrator shall make the determination if an Assessor’s Parcel is Non-Residential Property. “Property Owner’s Association” or “POA” means the property owner’s association or homeowner’s association established to maintain certain landscaping within a Tax Zone. “Proportionately” means for Taxable Property that is: (i) Developed Property, that the ratio of the actual Special Tax levy to the Maximum Special Tax is the same for all Parcels of Developed Property with the same Tax Zone, (ii) Approved Property, that the ratio of the actual Special Tax levy to the Maximum Special Tax is the same for all Parcels of Approved Property with the same Tax Zone, and (iii) Undeveloped Property that the ratio of the actual Special Tax levy per acre to the Maximum Special Tax per acre is the same for all Parcels of Undeveloped Property with the same Tax Zone. “Residential Unit” or "RU" means a residential unit that is used or intended to be used as a domicile by one or more persons, as determined by the Administrator. “Residential Property” means all Assessor’s Parcels of Taxable Property upon which completed Residential Units have been constructed or for which building permits have been or may be issued for purposes of constructing one or more Residential Units. “Service(s)” means services permitted under the Mello-Roos Community Facilities Act of 1982 including, without limitation, those services authorized to be funded by CFD No. 2015-2 as set forth in the documents adopted by the City Council at the time the CFD was formed. “Single Family Residential Property” means any residential property other than Multi-Family Residential Property on an Assessor’s Parcel.
“Special Tax(es)” means the Special Tax A and/or Special Tax B (Contingent) to be levied in each Fiscal Year on each Assessor’s Parcel of Taxable Property.
“Special Tax A” means the annual special tax to be levied in each Fiscal Year on each Assessor’s Parcel of Taxable Property to fund the Special Tax A Requirement. "Special Tax A Requirement" means for each Tax Zone, that amount to be collected in any Fiscal Year to pay for certain costs as required to meet the needs for such Tax Zone of CFD No. 2015-2 in both the current Fiscal Year and the next Fiscal Year. The costs to be covered shall be the direct costs for maintenance services including but not limited to (i) maintenance and lighting of parks, parkways, streets, roads and open space, (ii) maintenance and operation of water quality improvements, (iii) public street sweeping, (iv) fund an operating reserve for the costs of Services as determined by the Administrator, and (v) Administrative Expenses. Under no circumstances shall the Special Tax A Requirement include funds for Bonds.

EXHIBIT A
City of Lake Elsinore 4
Community Facilities District No. 2015-2 (Maintenance Services) “Special Tax B (Contingent)” means the Special Tax B (Contingent) to be levied in each Fiscal Year on each Assessor’s Parcel of Taxable Property to fund the Contingent Special Tax B Requirement, if required.
"Taxable Property" means all Assessor’s Parcels within CFD No. 2015-2, which are not Exempt Property.
“Taxable Unit” means a Residential Unit, Building Square Footage, or an Acre. "Tax Zone" means a mutually exclusive geographic area, within which particular Special Tax rates may be levied pursuant to this Rate and Method of Apportionment of Special Tax. Appendix C identifies the Tax Zone in CFD No. 2015-2 at formation; additional Tax Zones may be created when property is annexed into the CFD.
"Tax Zone 1" means the specific geographic area identified on the CFD Boundary Map as Tax Zone 1. "Tract(s)" means an area of land within a subdivision identified by a particular tract number on a Final Map approved for the subdivision.
“Undeveloped Property” means, for each Fiscal Year, all Taxable Property not classified as Developed Property or Approved Property.

B. ASSIGNMENT TO LAND USE CATEGORIES
For each Fiscal Year, all Assessor’s Parcels of Taxable Property within CFD No. 2015-2 shall be classified as Developed Property, Approved Property, or Undeveloped Property, and shall be subject to the levy of Special Taxes as determined pursuant to Sections C and D below. Assessor’s Parcels of Developed Property and Approved Property shall be classified as either Residential Property or Non-Residential Property. Residential Property shall be further classified as Single Family Residential Property or Multi-Family Residential Property and the number of Residential Units shall be determined by the Administrator.

C. MAXIMUM SPECIAL TAX RATES
For purposes of determining the applicable Maximum Special Tax for Assessor’s Parcels of Developed Property and Approved Property which are classified as Residential Property, all such Assessor’s Parcels shall be assigned the number of Residential Unit(s) constructed or to be constructed thereon as specified in or shown on the building permit(s) issued or Final Map as determined by the Administrator. For Parcels of undeveloped property zoned for development of single family attached or multi-family units, the number of Residential Units shall be determined by referencing the condominium plan, apartment plan, site plan or other development plan, or by assigning the maximum allowable units permitted based on the underlying zoning for the Parcel. Once a single family attached or multi-family building or buildings have been built on an Assessor's Parcel, the Administrator shall determine the actual number of Residential Units contained within the building or buildings, and the Special Tax A levied against the Parcel in the next Fiscal Year shall be calculated by multiplying the actual number of Residential Units by the Maximum Special Tax per Residential Unit identified for the Tract below or as included in Appendix A as each Annexation occurs.

EXHIBIT A
City of Lake Elsinore 5
Community Facilities District No. 2015-2 (Maintenance Services) For purposes of determining the applicable Maximum Special Tax for Assessor’s Parcels of Developed Property and Approved Property which are classified as Non-Residential Property, all such Assessor’s Parcels shall be assigned the number of Building Square Footage or Acres as shown on the Final Map as determined by the Administrator. Once the Administrator determines the actual number of Building Square Footage or Acres for the Assessor’s Parcels, the Special Tax A levied against the Assessor’s Parcel in the next Fiscal Year shall be calculated by multiplying the number of Building Square Footage or Acres by the Maximum Special Tax per Taxable Unit identified for the Tax Zone below or as included in Appendix A as each Annexation occurs.

1. Special Tax A
a. Developed Property
(i) Maximum Special Tax A
The Maximum Special Tax A for each Assessor’s Parcel of Developed Property shall be specific to each Tax Zone within the CFD. When additional property is annexed into CFD No. 2015-2, the rate and method adopted for the annexed property shall reflect the Maximum Special Tax A for the Tax Zones annexed and included in Appendix A. The Maximum Special Tax A for Developed Property for Fiscal Year 2015-2016 within Tax Zone 1 is identified in Table 1 below:

TABLE 1

MAXIMUM SPECIAL TAX A RATES

DEVELOPED PROPERTY
Tax
Zone Tract Land Use Category
Taxable
Unit
Maximum
Special Tax A
1 LLA-2014-2743 Non-Residential Property Acre $121
(ii) Increase in the Maximum Special Tax A
On each July 1, commencing on July 1, 2016 the Maximum Special Tax A for Developed Property shall increase by i) the percentage increase in the Consumer Price Index (All Items) for Los Angeles - Riverside - Orange County (1982-84 = 100) since the beginning of the preceding Fiscal Year, or ii) by two percent (2.0%), whichever is greater. (iii) Multiple Land Use Categories
In some instances an Assessor's Parcel of Developed Property may contain more than one Land Use Category. The Maximum Special Tax A that can be levied on an Assessor's Parcel shall be the sum of the Maximum Special Tax A that can be levied for each Land Use Category located on that Assessor's Parcel. For an Assessor's Parcel that contains more than one land use, the Acreage of such Assessor's Parcel shall be allocated to each type of property based on the amount of Acreage designated for each land use as determined by reference to the site plan approved for such Assessor's Parcel. The Administrator's allocation to each type of property shall be final.
b. Approved Property
The Maximum Special Tax A for each Assessor’s Parcel of Approved Property shall be specific to each Tax Zone within the CFD. When additional property is annexed into CFD No. 2015-2, the rate and method adopted for the annexed property shall reflect the Maximum Special Tax A for the Tax Zone annexed and included in Appendix A. The Maximum Special Tax A for Approved property Fiscal Year 2015-2016 within Tax Zone 1 is identified in Table 2 below:

EXHIBIT A
City of Lake Elsinore 6
Community Facilities District No. 2015-2 (Maintenance Services) TABLE 2

MAXIMUM SPECIAL TAX A RATES

APPROVED PROPERTY
Tax
Zone Tract Land Use Category
Taxable
Unit
Maximum
Special Tax A
1 LLA-2014-2743 Non-Residential Property Acre $121
On each July 1, commencing on July 1, 2016 the Maximum Special Tax A for Approved Property shall increase by i) the percentage increase in the Consumer Price Index (All Items) for Los Angeles - Riverside - Orange County (1982-84 = 100) since the beginning of the preceding Fiscal Year, or ii) by two percent (2.0%), whichever is greater.
c. Undeveloped Property
The Maximum Special Tax A for each Assessor’s Parcel of Undeveloped Property shall be specific to each Tax Zone within the CFD. When additional property is annexed into CFD No. 2015-2, the rate and method adopted for the annexed property shall reflect the Maximum Special Tax A for the Tax Zone annexed and included in Appendix A. The Maximum Special Tax A for Undeveloped Property for Fiscal Year 2015-2016 within Tax Zone 1 is identified in Table 3 below:

TABLE 3

MAXIMUM SPECIAL TAX A RATES

UNDEVELOPED PROPERTY
Tax Zone Tracts Taxable Unit Maximum Special Tax A
1 LLA-2014-2743 Acre $121
On each July 1, commencing on July 1, 2016 the Maximum Special Tax A for Undeveloped Property shall increase by i) the percentage increase in the Consumer Price Index (All Items) for Los Angeles - Riverside - Orange County (1982-84 = 100) since the beginning of the preceding Fiscal Year, or ii) by two percent (2.0%), whichever is greater.

2. Special Tax B (Contingent)
(i) Maximum Special Tax B (Contingent)
The Maximum Special Tax B (Contingent) for each Assessor’s Parcel of Taxable Property is shown in Table 1 and shall be specific to each Tax Zone within the CFD. When additional property is annexed into CFD No. 2015-2, the rate and method adopted for the annexed property shall reflect the Maximum Special Tax B (Contingent) for each Tax Zones annexed and included in Appendix A. The Maximum Special Tax B (Contingent) for Fiscal Year 2015- 2016 within Tax Zone 1 is identified in Table 4 below:

TABLE 4

MAXIMUM SPECIAL TAX B (CONTINGENT) RATES

DEVELOPED PROPERTY
Tax
Zone Tract Land Use Category
Taxable
Unit
Maximum Special
Tax B (Contingent)
1 LLA-2014-2743 Non-Residential Property Acre $0

EXHIBIT A
City of Lake Elsinore 7
Community Facilities District No. 2015-2 (Maintenance Services) (ii) Increase in the Maximum Special Tax B (Contingent) On each July 1, commencing on July 1, 2016 the Maximum Special Tax B (Contingent) for Developed Property shall increase by i) the percentage increase in the Consumer Price Index (All Items) for Los Angeles - Riverside - Orange County (1982-84 = 100) since the beginning of the preceding Fiscal Year, or ii) by two percent (2.0%), whichever is greater. (iii) Multiple Land Use Categories
In some instances an Assessor's Parcel of Developed Property may contain more than one Land Use Category. The Maximum Special Tax B (Contingent) that can be levied on an Assessor's Parcel shall be the sum of the Maximum Special Tax B (Contingent) that can be levied for each Land Use Category located on that Assessor's Parcel. For an Assessor's Parcel that contains more than one land use, the Acreage of such Assessor's Parcel shall be allocated to each type of property based on the amount of Acreage designated for each land use as determined by reference to the site plan approved for such Assessor's Parcel. The Administrator's allocation to each type of property shall be final. b. Approved Property
The Maximum Special Tax B (Contingent) for each Assessor’s Parcel of Taxable Property is shown in Table 5 and shall be specific to each Tax Zone within the CFD. When additional property is annexed into CFD No. 2015-2, the rate and method adopted for the annexed property shall reflect the Maximum Special Tax B (Contingent) for the Tax Zone annexed and included in Appendix A.

The Maximum Special Tax B (Contingent) for Fiscal Year 2015-2016 within the Tax Zone is identified in Table 5 below:

TABLE 5

MAXIMUM SPECIAL TAX B (CONTINGENT) RATES

APPROVED PROPERTY
Tax
Zone Tract Land Use Category
Taxable
Unit
Maximum Special
Tax B (Contingent)
1 LLA-2014-2743 Non-Residential Property Acre $0
On each July 1, commencing on July 1, 2016 the Maximum Special Tax B (Contingent) for Approved Property shall increase by i) the percentage increase in the Consumer Price Index (All Items) for Los Angeles - Riverside - Orange County (1982-84 = 100) since the beginning of the preceding Fiscal Year, or ii) by two percent (2.0%), whichever is greater. c. Undeveloped Property
The Maximum Special Tax B (Contingent) for each Assessor’s Parcel of Taxable Property is shown in Table 6 and shall be specific to each Tax Zone within the CFD. When additional property is annexed into CFD No. 2015-2, the rate and method adopted for the annexed property shall reflect the Maximum Special Tax B (Contingent) for the Tax Zone annexed and included in Appendix A.

The Maximum Special Tax B (Contingent) for Fiscal Year 2015-2016 within the Tax Zone is identified in Table 6 below:

EXHIBIT A
City of Lake Elsinore 8
Community Facilities District No. 2015-2 (Maintenance Services) TABLE 6

MAXIMUM SPECIAL TAX B (CONTINGENT) RATES

UNDEVELOPED PROPERTY
Tax Zone
Tracts Taxable Unit
Maximum Special
Tax B (Contingent)
1 LLA-2014-2743 Acre $0
On each July 1, commencing on July 1, 2016 the Maximum Special Tax B (Contingent) for Undeveloped Property shall increase by i) the percentage increase in the Consumer Price Index (All Items) for Los Angeles - Riverside - Orange County (1982-84 = 100) since the beginning of the preceding Fiscal Year, or ii) by two percent (2.0%), whichever is greater.

D. METHOD OF APPORTIONMENT OF ANNUAL SPECIAL TAX

1. Special Tax A
Commencing with Fiscal Year 2015-2016 and for each following Fiscal Year, the Council shall determine the Special Tax A Requirement and shall levy the Special Tax A on all Assessor’s Parcels of Taxable Property until the aggregate amount of Special Tax A equals the Special Tax A Requirement for each Tax Zone. The Special Tax A shall be levied for each Fiscal Year as follows:

First: The Special Tax A shall be levied Proportionately on all Assessor’s Parcels of Developed Property within each Tax Zone up to 100% of the applicable Maximum Special Tax to satisfy the Special Tax A Requirement for such Tax Zone;
Second: If additional moneys are needed to satisfy the Special Tax A Requirement for a Tax Zone after the first step has been completed, the Special Tax A shall be levied Proportionately on each Parcel of Approved Property within such Tax Zone up to 100% of the Maximum Special Tax A for Approved Property;
Third: If additional monies are needed to satisfy the Special Tax A Requirement for a Tax Zone after the first two steps has been completed, the Special Tax A shall be levied Proportionately on all Assessor’s Parcels of Undeveloped Property within such Tax Zone up to 100% of the Maximum Special Tax A for Undeveloped Property.

2. Special Tax B (Contingent)
Commencing with Fiscal Year 2015-2016 and for each following Fiscal Year, the Council shall determine the Contingent Special Tax B Requirement and shall levy the Special Tax on all Assessor’s Parcels of Taxable Property until the aggregate amount of Special Tax B (Contingent) equals the Contingent Special Tax B Requirement. The Special Tax B (Contingent) shall be levied for each Fiscal Year as follows:

EXHIBIT A
City of Lake Elsinore 9
Community Facilities District No. 2015-2 (Maintenance Services) Third: If additional monies are needed to satisfy the Contingent Special Tax B Requirement after the first two steps has been completed, the Special Tax B (Contingent) shall be levied Proportionately on all Assessor’s Parcels of Undeveloped Property within such Tax Zone up to 100% of the Maximum Special Tax B (Contingent) for Undeveloped Property.

E. FUTURE ANNEXATIONS
It is anticipated that additional properties will be annexed to CFD No. 2015-2 from time to time. As each annexation is proposed, an analysis will be prepared to determine the annual cost for providing Services. Based on this analysis, the property to be annexed, pursuant to California Government Code section 53339 et seq. will be assigned to the appropriate Maximum Special Tax rate for the Tax Zone when annexed and included in Appendix A.

F. TERM OF SPECIAL TAX
For each Fiscal Year, the Special Taxes shall be levied as long as the Services are being provided.

G. EXEMPTIONS
The City shall classify as Exempt Property within CFD No. 2015-2, any Assessor’s Parcel in any of the following categories; (i) Assessor’s Parcels which are owned by, irrevocably offered for dedication, encumbered by or restricted in use by any public entity; (ii) Assessor’s Parcels with public or utility easements making impractical their utilization for other than the purposes set forth in the easement; (iii) Assessor’s Parcels which are privately owned but are encumbered by or restricted solely for public uses; or (iv) any Assessor’s Parcel which is in use in the performance of a public function as determined by the Administrator.

H. APPEALS
Any property owner claiming that the amount or application of the Special Taxes are not correct may file a written notice of appeal with the City not later than twelve months after having paid the first installment of the Special Tax that is disputed. A representative(s) of CFD No. 2015-2 shall promptly review the appeal, and if necessary, meet with the property owner, consider written and oral evidence regarding the amount of the Special Tax, and rule on the appeal. If the representative’s decision requires that the Special Tax for an Assessor’s Parcel be modified or changed in favor of the property owner, a cash refund shall not be made, but an adjustment shall be made to the Special Tax on that Assessor’s Parcel in the subsequent Fiscal Year(s).

I. MANNER OF COLLECTION
The Special Tax shall be collected in the same manner and at the same time as ordinary ad valorem property taxes, provided, however, that CFD No. 2015-2 may collect the Special Tax at a different time or in a different manner if necessary to meet its financial obligations.

EXHIBIT A
City of Lake Elsinore 10
Community Facilities District No. 2015-2 (Maintenance Services)

APPENDIX A

CITY OF LAKE ELSINORE
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES)

COST ESTIMATE
Special Tax A Services- The estimate breaks down the costs of providing one year's maintenance services for Fiscal Year 2022-23. These services are being funded by the levy of Special Tax A for Community Facilities District No. 2015-2.

TAX ZONE 21
TR 38116
Item Description Estimated Cost
1 Landscaping $2,202
2 Lighting $2,376
3 Streets $4,852
4 Parks $33,520
5 Graffiti $589
6 Reserves $4,042
7 Admin $6,531
Total $54,112
Special Tax B Contingent Services – The estimate in the table below breaks down the costs of providing one year’s contingent services for Fiscal Year 2022-23. If necessary, these services will be funded by the levy of Special Tax B (Contingent) for Community Facilities District No. 2015-2 Tax Zone 21.

TAX ZONE 21 (CONTINGENT SERVICES)
TR 38116
Item Description Estimated Cost
1 Drainage $9,188
2 Reserves $919
3 Admin $1,378
Total $11,485
TAX ZONE 21
FY 2022-23 MAXIMUM SPECIAL TAX RATES

DEVELOPED PROPERTY AND APPROVED PROPERTY
Land Use
Category
Taxable
Unit
Maximum
Special Tax A
Maximum
Special Tax B
Single Family Residential RU $387 $82
Non-Residential Property Acre $4,964 $1,054

EXHIBIT A
City of Lake Elsinore 11
Community Facilities District No. 2015-2 (Maintenance Services) TAX ZONE 21
FY 2022-23 MAXIMUM SPECIAL TAX RATES

UNDEVELOPED PROPERTY
Taxable
Unit
Maximum
Special Tax A
Maximum
Special Tax B
Acre $4,964 $1,054

EXHIBIT A
City of Lake Elsinore 12
Community Facilities District No. 2015-2 (Maintenance Services)

TAX ZONE SUMMARY
Annexation
Tax
Zone
Tract
APN
Fiscal
Year
Maximum
Special Tax A
Maximum
Special Tax B Subdivider
Original 1 LLA-2014-2743 2015-16 $121 / Acre $0 / Acre Tractor Supply 1 2 36682 2016-17 $354 / RU $102 / RU Pardee Homes
2 3 PM 29996 2017-18 $951 / Acre $165 / Acre Pasadena Industrial Park, LLC 3 4 PM 36551 2017-18 $2,671 / Acre $201 / Acre ARI Chaney Street, LLC 4 5 TR 32996 2017-18 $378 / RU $321 / RU LE Cottage Lane, LLC 5 6 365-030-001 2018-19 $1,004/ Acre $0 / Acre Lake Elsinore CCR, LLC 6 7 TR 33267 2019-20 $350 / RU $56 / RU Pardee Homes
7 8 PM 37284 2019-20 $1,953 / Acre $0 / Acre Central Plaza 8 9 TR 37305 2019-20 $951 / RU $384 / RU Nichols Rd Partners, LLC 8 10 TR 37305; Lot 169 2019-20 $2,600 / Acre $0 / Acre Nichols Rd Partners, LLC 9 11 TR 32129 & 30698 2020-21 $541 / RU $69 / RU
Donald S. Clurman &
Three Strands Properties, LLC &
Spectrum Communities, LLC
10 12 TR 33370 2021-22 $294 / RU $30 / RU JLJ. LLC
11 13 PM 37534 2021-22 $1,113 / Acre $0 / Acre SRZ Yuma, LLC 12 14 TR 33725 2021-22 $749 / RU $87 / RU SPT-AREP III Tuscany Associates 12 15 TR 25475 2021-22 $594 / RU $62 / RU SPT-AREP III Tuscany Associates 13 16 LLA 2019-007 2021-22 $407 / Acre $0 / Acre Wal-Mart Real Estate Business Trust
14 17 TR 38008 2021-22 $366 / RU $123 / RU Tri Pointe Homes IE-SD, Inc. 15 18 TPM 37751 2021-22 $2,188 / Acre $2,540 / Acre Boos-Up Lake Elsinore 16 19 PM 37710 2021-22 $1,034 / Acre $0 / Acre Pennington Industrial, LLC 17 20 TR 37280 2022-23 $323 / RU $5 / RU Lake Elsinore Lakeshore, LLC and Erin Crowder
18 21 TR 38116 2022-23 $387 / RU $82 / RU Tri Pointe Homes IE-SD, Inc.

ESCALATION OF MAXIMUM SPECIAL TAXES
On each July 1, commencing on July 1, 2016 the Maximum Special Tax shall increase by i) the percentage increase in the Consumer Price Index (All Items) for Los Angeles - Riverside - Orange County (1982-84 = 100) since the beginning of the preceding Fiscal Year, or ii) by two percent (2.0%), whichever is greater.

EXHIBIT A
City of Lake Elsinore 13
Community Facilities District No. 2015-2 (Maintenance Services)

APPENDIX B

CITY OF LAKE ELSINORE
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES)

DESCRIPTION OF AUTHORIZED SERVICES
The services which may be funded with proceeds of the special tax of CFD No. 2015-2, as provided by Section 53313 of the Act, will include all costs attributable to maintaining, servicing, cleaning, repairing and/or replacing landscaped areas (may include reserves for replacement) in public street right-of-ways, public landscaping, public open spaces and other similar landscaped areas officially dedicated for public use. These services including the following:
(a) maintenance and lighting of parks, parkways, streets, roads and open space, which maintenance and lighting services may include, without limitation, furnishing of electrical power to street lights and traffic signals; repair and replacement of damaged or inoperative light bulbs, fixtures and standards; maintenance (including irrigation and replacement) of landscaping vegetation situated on or adjacent to parks, parkways, streets, roads and open space; maintenance and repair of irrigation facilities; maintenance of public signage; graffiti removal from and maintenance and repair of public structures situated on parks, parkways, streets, roads and open space; maintenance and repair of playground or recreation program equipment or facilities situated on any park; and (b) maintenance and operation of water quality improvements which include storm drainage and flood protection facilities, including, without limitation, drainage inlets, catch basin inserts, infiltration basins, flood control channels, fossil fuel filters, and similar facilities. Maintenance services may include but is not limited to the repair, removal or replacement of all or part of any of the water quality improvements, fossil fuel filters within the public right-of-way including the removal of petroleum hydrocarbons and other pollutants from water runoff, or appurtenant facilities, clearing of inlets and outlets; erosion repairs; and cleanup to improvements, and other items necessary for the maintenance, servicing; or both of the water quality basin improvements within flood control channel improvements; and
(c) public street sweeping, on the segments of the arterials within the boundaries of CFD No. 2015-2; as well as local roads within residential subdivisions located within CFD No. 2015-2; and any portions adjacent to the properties within CFD No. 2015-2; and In addition to payment of the cost and expense of the forgoing services, proceeds of the special tax may be expended to pay “Administrative Expenses,” as said term is defined in the Rate and Method of Apportionment.

The above services shall be limited to those provided within the boundaries of CFD No. 2015-2 or for the benefit of the properties within the boundaries of CFD No. 2015-2, as the boundary is expanded from time to time by anticipated annexations, and said services may be financed by proceeds of the special tax of CFD No. 2015-2 only to the extent that they are in addition to those provided in the territory of CFD No. 2015-2 before CFD No. 2015-2 was created.

EXHIBIT A
City of Lake Elsinore 14
Community Facilities District No. 2015-2 (Maintenance Services)

APPENDIX C

CITY OF LAKE ELSINORE
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES)

PROPOSED BOUNDARIES AND POTENTIAL ANNEXATION AREA BOUNDARIES

EXHIBIT B

SPECIAL TAX ELECTION

CITY OF LAKE ELSINORE

ANNEXATION OF TERRITORY TO
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) ANNEXATION NO. 18
(February 14, 2023)
This ballot is for the use of the authorized representative of the following owner of land within Annexation No. 18 of the Community Facilities District No. 2015-2 (Maintenance Services) (“CFD No. 2015-2”) of the City of Lake Elsinore:

This special tax ballot is for the use of the property owner of the parcels identified below, which parcels are located within the territory proposed to be annexed to the CFD No. 2015-2, City of Lake Elsinore, County of Riverside, State of California. Please advise the City Clerk, at (951) 674-3124 x 261 if the name set forth below is incorrect or if you are no longer one of the owners of these parcels. This special tax ballot may be used to express either support for or opposition to the proposed special tax. To be counted, this special tax ballot must be signed below by the owner or, if the owner is not an individual, by an authorized representative of the owner. The ballot must then be delivered to the City Clerk, either by mail or in person, as follows:

Personal
Delivery: If in person, deliver to the City Clerk at any time up to 7:00 p.m. on February 14, 2023, at the Clerk’s office at 130 N Main St. Lake Elsinore, CA 92530.

However delivered, this ballot must be received by the Clerk prior to the close of the public meeting on February 14, 2023.

Very truly yours,
Candice Alvarez, MMC,
City Clerk

EXHIBIT B
TO CAST THIS BALLOT, PLEASE RETURN THIS ENTIRE PAGE.

OFFICIAL SPECIAL TAX BALLOT
Name & Address of Property Owner: Assessor’s Parcel Number(s):

Tri Pointe Homes IE-SD, Inc.

Attn: Chris Willis
1250 Corona Pointe Court, Suite 600
Corona, CA 92879
379-060-005, 379-060-022, 379-060-027

ANNEXATION OF TERRITORY TO
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) ANNEXATION NO. 18
AN “X” OR OTHER MARK WILL CAST ALL VOTES ASSIGNED TO THIS BALLOT SPECIAL TAX BALLOT MEASURE MARK “YES” OR “NO”
WITH AN “X”:

Shall the City Council of the City of Lake Elsinore be authorized to levy a special tax on an annual basis at the rates and apportioned as described in Exhibit C to the Resolution Declaring its Intention to Annex Territory to Community Facilities District No. 2015-2 (Maintenance Services) adopted by the City Council on January 10, 2023 (the “Resolution”), which is incorporated herein by this reference, within the territory identified on the map entitled “Annexation Map No. 18 of Community Facilities District No. 2015-2 (Maintenance Services) City of Lake Elsinore” to finance certain services as set forth in Section 4 to the Resolution (including incidental expenses) and shall an appropriation limit be established for Community Facilities District No. 2015-2 (Maintenance Services) in the amount of special taxes collected?
YES _________

NO _________
Certification for Special Election Ballot
The undersigned is an authorized representative of the above-named landowner and is the person legally authorized and entitled to cast this ballot on behalf of the above-named landowner.

I declare under penalty of perjury under the laws of the State of California that the foregoing is true and correct and that this declaration is executed on ____________, 20__.

Chris Willis
Vice President
Signature
Print Name
Title
RESOLUTION NO. 2023-_________

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,

CALIFORNIA DECLARING ELECTION RESULTS FOR COMMUNITY
FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES)
(ANNEXATION NO. 18)
Whereas, the City Council (the "City Council") of the City of Lake Elsinore (the "City") has heretofore conducted proceedings for the area proposed to be annexed to Community Facilities District No. 2015-2 (Maintenance Services) (the "CFD No. 2015-2") of the City of Lake Elsinore, including conducting a public hearing pursuant to Section 53339.5 of the Government Code; and Whereas, at the conclusion of said public hearing, the City Council adopted a resolution calling a special election for February 14, 2023, and submitting to the qualified electors of the territory to be annexed to the CFD No. 2015-2 the question of levying special taxes on parcels of taxable property therein for the purpose of providing certain services which are necessary to meet increased demands placed upon the City as a result of the development of said real property as provided in the form of special election ballot; and
Whereas, a Certificate of Election Results, attached thereto as Exhibit A, dated February 14, 2023, executed by the City Clerk (or, in the absence of the City Clerk, the Acting City Clerk – in either case, the “Clerk”), has been filed with this Council, certifying that a completed ballot has been returned to the Clerk for each landowner-voter(s) eligible to cast a ballot in said special election, with all votes cast as “Yes” votes in favor of the ballot measure, and further certifying on said basis that the special mailed-ballot election was closed; and Whereas, this Council has received, reviewed and hereby accepts the Clerk’s Certificate of Election Results and wishes by this resolution to declare the results of the special mailed-ballot election;

NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE:

Section 1. Recitals. This Council finds and determines that the foregoing recitals are true and correct.

Section 2. Ballot Measure. This Council hereby finds, determines and declares that the ballot measure submitted to the qualified electors of the territory to be annexed to CFD No. 2015-2 has been passed and approved by those qualified electors in accordance with Sections 53328 and 53329 of the Government Code.

Section 3. Annexation. This Council hereby finds, determines and declares that pursuant to Section 53339.8 of the Government Code, the City Council is authorized to determine that the territory to be annexed has been added to and become a part of the CFD No. 2015-2 with full legal effect, and the City Council is also authorized, pursuant to said Section 53339.8, to annually levy special taxes within the territory to be annexed to pay the costs of the services to be provided by the CFD No. 2015-2 as specified in Resolution No. 2023-002 adopted by the City Council on January 10, 2023. The boundaries of the territory annexed are shown on the map entitled, "Annexation Map No. 18 Community Facilities District No. 2015-2 (Maintenance Services)" a copy CC Res. No. 2023-_____

Page 2 of 3 ends

of which was recorded, on January 17, 2023, in Book 90 of Maps of Assessment and Community Facilities Districts Page 30, in the office of the Riverside County Recorder.

Section 4. Notice of Special Tax Lien. Pursuant to Section 53339.8 of the Government Code and Section 3117.5 of the Streets and Highways Code, the City Clerk shall cause to be filed with the County Recorder of the County of Riverside an amendment of the notice of special tax lien and a map of the amended boundaries of the CFD No. 2015-2 including the annexed territory.

Section 5. Effect. This resolution shall take effect from and after its adoption.

PASSED and ADOPTED at a regular meeting of the City Council of the City of Lake Elsinore, California, this 14th day of February 2023.

Natasha Johnson, Mayor
ATTEST:

Candice Alvarez, MMC
City Clerk
CC Res. No. 2023-_____

Page 3 of 3 ends

STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.

AYES:

NOES:

ABSENT:

ABSTAIN:
_____________________________
Candice Alvarez, MMC
City Clerk

CITY OF LAKE ELSINORE
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) ANNEXATION NO. 18

CERTIFICATE OF ELECTION RESULTS
I, the undersigned, being the Deputy City Clerk or the Acting City Clerk, as the case may be, hereby certify:

Copies of the completed waiver and consent form and the completed ballot received by me and on file in my office are attached hereto.

Based upon the foregoing, all votes that were cast having been cast “Yes”, in favor of the ballot measure, the measure has therefore passed.

Landowner
Qualified
Landowner Votes Votes Cast YES NO
Erin Crowder 35 35
Total 35 35
I declare under penalty of perjury under the laws of the State of California that the foregoing is true and correct and that this declaration is executed on ____________, 2023.

Candice Alvarez, MMC
City Clerk
City of Lake Elsinore
By:

(Attach completed copies of Waiver/Consent and Ballots)

ORDINANCE NO. 2023-___
AN ORDINANCE AMENDING ORDINANCE NO. 2016-1359 OF THE

CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA,

ACTING IN ITS CAPACITY AS THE LEGISLATIVE BODY OF
COMMUNITY FACILITIES DISTRICT NO. 2015-2 OF THE CITY OF

LAKE ELSINORE (MAINTENANCE SERVICES) AUTHORIZING THE

LEVY OF SPECIAL TAXES
WHEREAS, pursuant to the Mello-Roos Community Facilities Act of 1982 (the “Act”), on July 28, 2015, the City Council (the “City Council”) of the City of Lake Elsinore (the “City”) adopted Resolution No. 15-078 establishing Community Facilities District No. 2015-2 (Maintenance Services) of the City of Lake Elsinore, County of Riverside, State of California (the "CFD No. 2015-2") for the purpose of levying special taxes on parcels of taxable property therein for the purpose of providing certain services (the “Services”), which are necessary to meet increased demands placed upon the City and are described in Exhibit A attached hereto; and
WHEREAS, on May 10, 2016, the City Council adopted Ordinance No. 2016-1359 entitled, “An Ordinance of the City of Council of the City of Lake Elsinore, California, acting in its capacity as the legislative body of Community Facilities District No. 2015-2 of the City of Lake Elsinore (Maintenance Services) authorizing the levy of special tax” (“Ordinance No. 2015-1359”), pursuant to which the City Council levied special taxes with the CFD No. 2015-2; and WHEREAS, on January 10, 2023, the City Council adopted Resolution No. 2023-002 entitled “A Resolution of the City Council of the City of Lake Elsinore Declaring its Intention to Annex Territory into Community Facilities District No. 2015-2 (Maintenance Services) of the City of Lake Elsinore, Adopting a Map of the Area to be Proposed (Annexation No. 18) and Authorizing the Levy of a Special Taxes Therein” (the “Resolution of Intention”) declaring its intention to annex certain territory to the CFD No. 2015-2 and to levy special taxes within that territory to provide the Services as described in the Resolution of Intention and setting a special public hearing on the proposed annexation for February 14, 2023; and WHEREAS, notice was published as required by the Act relative to the intention of the City Council to annex certain territory to the CFD No. 2015-2, to levy special taxes therein to provide the Services, and to set the time and place of said public hearing; and
WHEREAS, on February 14, 2023, at the time and place specified in said published notice, the City Council opened and held a public hearing as required by the Act relative to the annexation of territory in to the CFD No. 2015-2, the levy of the special taxes therein, and the provision of Services by the CFD No. 2015-2; and
WHEREAS, at said public hearing all persons desiring to be heard on all matters pertaining to the annexation of territory to the CFD No. 2015-2, the levy of the special taxes therein, and the provision of Services therein were heard, and a full and fair hearing was held; and WHEREAS, subsequent to said public hearing, the City Council adopted Resolution No. 23-___ entitled “A Resolution of the City Council of the City of Lake Elsinore, California, Calling an Election to Submit to the Qualified Electors the Question of Levying a Special Tax Within the Area Proposed to be Annexed to Community Facilities District No. 2015-2 (Maintenance Services) (Annexation No. 18)” (the “Resolution Calling the Election”) on February 14, 2023, wherein the City Council submitted the question of levying a special tax in territory proposed to be annexed to the CFD No. 2015-2 at the rate and according to the method of apportionment described therein; and
WHEREAS, at said special election on February 14, 2023, the qualified electors of the territory proposed to be annexed to the CFD No. 2015-2 approved said propositions as described in the Resolution Calling the Special Election by more than the two-thirds vote required by the Act; and Ordinance No. 2023-____

Page 2 of 23 ends

WHEREAS, subsequent to said special election, the City Council adopted Resolution No. 23-___ entitled “A Resolution of the City Council of the City of Lake Elsinore, California, Declaring the Election Results for Community Facilities District No. 2015-2 (Maintenance Services) (Annexation No. 18)” wherein the City Council determined that the territory proposed to be annexed was added to the CFD No. 2015-2 (such territory being referred to herein as “Annexation No. 18”).

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, ACTING AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) OF THE CITY OF LAKE ELSINORE, DOES ORDAIN AS FOLLOWS:

Section 1. Recitals. The foregoing recitals are true and correct.

Section 2. Amendment to Exhibit B of Ordinance No. 2016-1359. Ordinance No. 2016-1359 is hereby amended by including Exhibit B to Ordinance No. 2016-1359 attached hereto.

Section 3. Amendment to Section 2 of Ordinance No. 2016-1359. Section 2 of Ordinance No. 2016-1359 is hereby amended by deleting it in its entirety and replacing it with the following:

Section 2. By the passage of this Ordinance, the City Council authorizes and levies special taxes within the District which are subject to taxation which are identified in Exhibit B attached hereto, pursuant to Sections 53328 and 53340 of the Act at the rates and in accordance with the rate and method of apportionment set forth in Exhibit A attached hereto, which is incorporated by reference herein (the “Rate and Method”). The special taxes are hereby levied commencing the fiscal year specified in the Rate and Method and in each fiscal year thereafter so long as the services authorized to be finance by the District, are provided through such financing within the District.

Section 4. Future Annexations. The annexation of additional territory into the CFD No. 2015- 2 was contemplated as part of the adoption of Resolution No. 15-066. The boundaries of the territory within which any property may annex to the CFD No. 2015-2 are more particularly described and shown on that certain map entitled “Boundaries – Potential Annexation Area Community Facilities District No. 2015-2 (Maintenance Services) City of Lake Elsinore, County of Riverside, State of California,” as recorded on August 19, 2015 in Book 78 of Maps of Assessment and Community Facilities District, at Page 74, and as Document No. 2015-0369598 in the official records of the County of Riverside. Following a public hearing and the adoption of resolutions required by the Act for any additional annexations of property within said potential annexation area, Revised Exhibit B of Ordinance No. 2016-1359 shall be further amended to include any additional territory annexed to the CFD No. 2015-2. The City Council hereby authorizes and directs the officers, employees, and agents of the City to take all actions and do all things which they, or any of them, may deem necessary or desirable to accomplish the purposes of this Section 4 of this Ordinance to further include Exhibit B to Ordinance No. 2016-1359.

Section 5. Severability. If for any reason any portion of this Ordinance is found to be invalid, or if the special taxes found inapplicable to any particular parcel within the CFD No. 2015-2, by a court of competent jurisdiction, the balance of this Ordinance and the application of the special tax to the remaining parcels within the CFD No. 2015-2 shall not be affected.

Section 6. Authorization to Publish Ordinance. The Mayor shall sign this Ordinance and the City Clerk shall attest thereto and shall, within fifteen (15) days of its adoption, cause it or a summary of it to be published at least once in The Press Enterprise, a newspaper of general circulation published and circulated in the City and the CFD No. 2015-2.

Section 7. Effective Date. This Ordinance shall take effect and shall be in force thirty (30) days after the date of its adoption, at which time Revised Exhibit B will include Exhibit B to Ordinance No. 2016-1359 and Section 2 of Ordinance No. 2016-1359 will be amended as described herein.

Ordinance No. 2023-____

Page 3 of 23 ends

PASSED AND ADOPTED by the City Council of the City of Lake Elsinore at a regular meeting held on 28th day of February 2023 by the following vote:

Natasha Johnson, Mayor
ATTEST: APPROVED AS TO FORM:
___________________________
Candice Alvarez, MMC Barbara Liebold
City Clerk City Attorney

STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.

CITY OF LAKE ELSINORE )
I, Candice Alvarez, MMC, City Clerk of the City of Lake Elsinore, California, do hereby certify that Ordinance No. 2023-____ was introduced at the regular City Council meeting of February 14, 2023, and adopted at the regular meeting of February 28, 2023, by the following roll call vote:

AYES:

NOES:

ABSENT:

ABSTAIN:
_____________________________
Candice Alvarez, MMC
City Clerk

EXHIBIT A

RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX FOR
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES)

OF THE CITY OF LAKE ELSINORE
A Special Tax (the “Special Tax”) shall be levied on and collected from each Assessor’s Parcel (defined below) in Community Facilities District No. 2015-2 (Maintenance Services) (the “CFD No. 2015-2” or “CFD”; defined below), in each Fiscal Year, (defined below), commencing in the Fiscal Year beginning July 1, 2015, in an amount determined by the City Council of the City of Lake Elsinore, acting ex officio as the legislative body of CFD No. 2015-2, by applying the rate and method of apportionment set forth below.

All of the real property in CFD No. 2015-2, unless exempted by law or by the provisions herein, shall be taxed to the extent and in the manner provided herein.

A. DEFINITIONS
“Acre” or “Acreage” means the land area of an Assessor’s Parcel as shown on any Assessor’s Parcel Map, or if the land area is not shown on the Assessor’s Parcel Map, the land area as shown on the applicable Final Map, or if the area is not shown on the applicable Final Map, the land area shall be calculated by the Administrator.
“Administrative Expenses” means the actual or reasonably estimated costs directly related to the formation, annexation, and administration of CFD No. 2015-2 including, but not limited to: the costs of computing the Special Taxes and preparing the annual Special Tax collection schedules (whether by the City or designee thereof or both); the costs to the City, CFD No. 2015-2, or any designee thereof associated with fulfilling the CFD No. 2015-2 disclosure requirements; the costs associated with responding to public inquiries regarding the Special Taxes; the costs of the City, CFD No. 2015-2 or any designee thereof related to an appeal of the Special Tax; and the City's annual administration fees including payment of a proportional share of salaries and benefits of any City employees and City overhead whose duties are related to the administration and third party expenses. Administrative Expenses shall also include amounts estimated or advanced by the City or CFD No. 2015-2 for any other administrative purposes of CFD No. 2015-2, including attorney's fees and other costs related to commencing and pursuing to completion any foreclosure of delinquent Special Taxes. “Administrator” means the City Manager of the City of Lake Elsinore, or his or her designee. “Approved Property” means all Assessor’s Parcels of Taxable Property that are included in a Final Map that was recorded prior to the March 1 preceding the Fiscal Year in which the Special Tax is being levied, and that have not been issued a building permit on or prior to the March 1 preceding the Fiscal year in which the special tax is being levied.
“Assessor’s Parcel” means a lot or parcel of land that is identifiable by an Assessor’s Parcel Number by the County Assessor of the County of Riverside.
“Assessor’s Parcel Map” means an official map of the Assessor of the County designating parcels by Assessor’s Parcel Number.
“Assessor’s Parcel Number” means that identification number assigned to a parcel by the County Assessor of the County.
“Building Square Footage” or “BSF” means the floor area square footage reflected on the original construction building permit issued for construction of a building of Non-Residential Property and any Building Square Footage subsequently added to a building of such Taxable Property after issuance of a building permit for expansion or renovation of such building. “Calendar Year” means the period commencing January 1 of any year and ending the following December 31.
“CFD” or “CFD No. 2015-2” means the City of Lake Elsinore Community Facilities District No. 2015-2 (Maintenance Services).
“City” has the meaning set forth in the preamble.
“Contingent Special Tax B Requirement” means that amount required in any Fiscal Year, if the POA is unable to maintain the Service(s) to: (i) pay the costs of Services incurred or otherwise payable in the Calendar Year commencing in such Fiscal Year; (ii) fund an operating reserve for the costs of Services as determined by the Administrator; less a credit for funds available to reduce the annual Special Tax B (Contingent) levy as determined by the Administrator. “County” means the County of Riverside.
“Developed Property” means all Assessor’s Parcels of Taxable Property for which a building permit for new construction has been issued on or prior to March 1 preceding the Fiscal Year in which the Special Tax is being levied.
“Exempt Property” means all Assessors’ Parcels designated as being exempt from the Special Tax as provided for in Section G.
“Final Map” means a subdivision of property by recordation of a final map, parcel map, or lot line adjustment, pursuant to the Subdivision Map Act (California Government Code Section 66410 et seq.) or recordation of a condominium plan pursuant to California Civil Code 1352 that creates individual lots for which building permits may be issued without further subdivision. “Fiscal Year” means the period from and including July 1st of any year to and including the following June 30th.
“Land Use Category” or “LUC” means any of the categories contained in Section B hereof to which an Assessor’s Parcel is assigned consistent with the land use approvals that have been received or proposed for the Assessor’s Parcel as of March 1 preceding the Fiscal Year in which the Special Tax is being levied.
“Maximum Special Tax” means either Maximum Special Tax A and/or Maximum Special Tax B (Contingent), as applicable.
“Maximum Special Tax A” means the Maximum Special Tax A, as determined in accordance with Section C below that can be levied in any Fiscal Year on any Assessor's Parcel of Taxable Property within CFD No. 2015-2.
“Maximum Special Tax B (Contingent)” means the Maximum Special Tax B (Contingent), as determined in accordance with Section C below that can be levied in any Fiscal Year on any Assessor's Parcel of Taxable Property within CFD No. 2015-2.
“Multi-Family Residential Property” means any Assessor’s Parcel of residential property that consists of a building or buildings comprised of attached Residential Units sharing at least one common wall with another unit.
“Non-Residential Property” or “NR” means all Assessor's Parcels of Taxable Property for which a building permit(s) was issued for a non-residential use. The Administrator shall make the determination if an Assessor’s Parcel is Non-Residential Property. “Property Owner’s Association” or “POA” means the property owner’s association or homeowner’s association established to maintain certain landscaping within a Tax Zone. “Proportionately” means for Taxable Property that is: (i) Developed Property, that the ratio of the actual Special Tax levy to the Maximum Special Tax is the same for all Parcels of Developed Property with the same Tax Zone, (ii) Approved Property, that the ratio of the actual Special Tax levy to the Maximum Special Tax is the same for all Parcels of Approved Property with the same Tax Zone, and (iii) Undeveloped Property that the ratio of the actual Special Tax levy per acre to the Maximum Special Tax per acre is the same for all Parcels of Undeveloped Property with the same Tax Zone. “Residential Unit” or "RU" means a residential unit that is used or intended to be used as a domicile by one or more persons, as determined by the Administrator. “Residential Property” means all Assessor’s Parcels of Taxable Property upon which completed Residential Units have been constructed or for which building permits have been or may be issued for purposes of constructing one or more Residential Units. “Service(s)” means services permitted under the Mello-Roos Community Facilities Act of 1982 including, without limitation, those services authorized to be funded by CFD No. 2015-2 as set forth in the documents adopted by the City Council at the time the CFD was formed. “Single Family Residential Property” means any residential property other than Multi-Family Residential Property on an Assessor’s Parcel.
“Special Tax(es)” means the Special Tax A and/or Special Tax B (Contingent) to be levied in each Fiscal Year on each Assessor’s Parcel of Taxable Property.
“Special Tax A” means the annual special tax to be levied in each Fiscal Year on each Assessor’s Parcel of Taxable Property to fund the Special Tax A Requirement. "Special Tax A Requirement" means for each Tax Zone, that amount to be collected in any Fiscal Year to pay for certain costs as required to meet the needs for such Tax Zone of CFD No. 2015-2 in both the current Fiscal Year and the next Fiscal Year. The costs to be covered shall be the direct costs for maintenance services including but not limited to (i) maintenance and lighting of parks, parkways, streets, roads and open space, (ii) maintenance and operation of water quality improvements, (iii) public street sweeping, (iv) fund an operating reserve for the costs of Services as determined by the Administrator, and (v) Administrative Expenses. Under no circumstances shall the Special Tax A Requirement include funds for Bonds.
“Special Tax B (Contingent)” means the Special Tax B (Contingent) to be levied in each Fiscal Year on each Assessor’s Parcel of Taxable Property to fund the Contingent Special Tax B Requirement, if required.
"Taxable Property" means all Assessor’s Parcels within CFD No. 2015-2, which are not Exempt Property.
“Taxable Unit” means a Residential Unit, Building Square Footage, or an Acre. "Tax Zone" means a mutually exclusive geographic area, within which particular Special Tax rates may be levied pursuant to this Rate and Method of Apportionment of Special Tax. Appendix C identifies the Tax Zone in CFD No. 2015-2 at formation; additional Tax Zones may be created when property is annexed into the CFD.
"Tax Zone 1" means the specific geographic area identified on the CFD Boundary Map as Tax Zone 1. "Tract(s)" means an area of land within a subdivision identified by a particular tract number on a Final Map approved for the subdivision.
“Undeveloped Property” means, for each Fiscal Year, all Taxable Property not classified as Developed Property or Approved Property.

For purposes of determining the applicable Maximum Special Tax for Assessor’s Parcels of Developed Property and Approved Property which are classified as Non-Residential Property, all such Assessor’s Parcels shall be assigned the number of Building Square Footage or Acres as shown on the Final Map as determined by the Administrator. Once the Administrator determines the actual number of Building Square Footage or Acres for the Assessor’s Parcels, the Special Tax A levied against the Assessor’s Parcel in the next Fiscal Year shall be calculated by multiplying the number of Building Square Footage or Acres by the Maximum Special Tax per Taxable Unit identified for the Tax Zone below or as included in Appendix A as each Annexation occurs.

TABLE 1

MAXIMUM SPECIAL TAX A RATES

TABLE 2

MAXIMUM SPECIAL TAX A RATES

TABLE 3

MAXIMUM SPECIAL TAX A RATES

TABLE 4

MAXIMUM SPECIAL TAX B (CONTINGENT) RATES

DEVELOPED PROPERTY
Tax
Zone Tract Land Use Category
Taxable
Unit
Maximum Special
Tax B (Contingent)
1 LLA-2014-2743 Non-Residential Property Acre $0
(ii) Increase in the Maximum Special Tax B (Contingent) On each July 1, commencing on July 1, 2016 the Maximum Special Tax B (Contingent) for Developed Property shall increase by i) the percentage increase in the Consumer Price Index (All Items) for Los Angeles - Riverside - Orange County (1982-84 = 100) since the beginning of the preceding Fiscal Year, or ii) by two percent (2.0%), whichever is greater. (iii) Multiple Land Use Categories
In some instances an Assessor's Parcel of Developed Property may contain more than one Land Use Category. The Maximum Special Tax B (Contingent) that can be levied on an Assessor's Parcel shall be the sum of the Maximum Special Tax B (Contingent) that can be levied for each Land Use Category located on that Assessor's Parcel. For an Assessor's Parcel that contains more than one land use, the Acreage of such Assessor's Parcel shall be allocated to each type of property based on the amount of Acreage designated for each land use as determined by reference to the site plan approved for such Assessor's Parcel. The Administrator's allocation to each type of property shall be final. b. Approved Property
The Maximum Special Tax B (Contingent) for each Assessor’s Parcel of Taxable Property is shown in Table 5 and shall be specific to each Tax Zone within the CFD. When additional property is annexed into CFD No. 2015-2, the rate and method adopted for the annexed property shall reflect the Maximum Special Tax B (Contingent) for the Tax Zone annexed and included in Appendix A.

The Maximum Special Tax B (Contingent) for Fiscal Year 2015-2016 within the Tax Zone is identified in Table 5 below:

TABLE 5

MAXIMUM SPECIAL TAX B (CONTINGENT) RATES

The Maximum Special Tax B (Contingent) for Fiscal Year 2015-2016 within the Tax Zone is identified in Table 6 below:

TABLE 6

MAXIMUM SPECIAL TAX B (CONTINGENT) RATES

D. METHOD OF APPORTIONMENT OF ANNUAL SPECIAL TAX

First: The Special Tax shall be levied Proportionately on all Assessor’s Parcels of Developed Property for a Tax Zone up to 100% of the applicable Maximum Special Tax B (Contingent) to satisfy the Contingent Special Tax B Requirement;
Second: If additional moneys are needed to satisfy the Contingent Special Tax B Requirement after the first step has been completed, the Special Tax B (Contingent) shall be levied Proportionately on each Parcel of Approved Property within such Tax Zone up to 100% of the Maximum Special Tax B (Contingent) for Approved Property;
Third: If additional monies are needed to satisfy the Contingent Special Tax B Requirement after the first two steps has been completed, the Special Tax B (Contingent) shall be levied Proportionately on all Assessor’s Parcels of Undeveloped Property within such Tax Zone up to 100% of the Maximum Special Tax B (Contingent) for Undeveloped Property.

F. TERM OF SPECIAL TAX
For each Fiscal Year, the Special Taxes shall be levied as long as the Services are being provided.

APPENDIX A

CITY OF LAKE ELSINORE
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES)

COST ESTIMATE
Special Tax A Services - The estimate breaks down the costs of providing one year's maintenance services for Fiscal Year 2022-23. These services are being funded by the levy of Special Tax A for Community Facilities District No. 2015-2.

TAX ZONE 21 (CONTINGENT SERVICES)
TR 38116
Item Description Estimated Cost
1 Drainage $9,188
2 Reserves $919
3 Admin $1,378
Total $11,485
TAX ZONE 21
FY 2022-23 MAXIMUM SPECIAL TAX RATES

DEVELOPED PROPERTY AND APPROVED PROPERTY
Land Use
Category
Taxable
Unit
Maximum
Special Tax A
Maximum
Special Tax B
Single Family Residential RU $387 $82
Non-Residential Property Acre $4,964 $1,054
TAX ZONE 21
FY 2022-23 MAXIMUM SPECIAL TAX RATES

UNDEVELOPED PROPERTY
Taxable
Unit
Maximum
Special Tax A
Maximum
Special Tax B
Acre $4,964 $1,054

TAX ZONE SUMMARY
Annexation
Tax
Zone
Tract
APN
Fiscal
Year
Maximum
Special Tax A
Maximum
Special Tax B Subdivider
Original 1 LLA-2014-2743 2015-16 $121 / Acre $0 / Acre Tractor Supply 1 2 36682 2016-17 $354 / RU $102 / RU Pardee Homes
2 3 PM 29996 2017-18 $951 / Acre $165 / Acre Pasadena Industrial Park, LLC 3 4 PM 36551 2017-18 $2,671 / Acre $201 / Acre ARI Chaney Street, LLC 4 5 TR 32996 2017-18 $378 / RU $321 / RU LE Cottage Lane, LLC 5 6 365-030-001 2018-19 $1,004/ Acre $0 / Acre Lake Elsinore CCR, LLC 6 7 TR 33267 2019-20 $350 / RU $56 / RU Pardee Homes
7 8 PM 37284 2019-20 $1,953 / Acre $0 / Acre Central Plaza 8 9 TR 37305 2019-20 $951 / RU $384 / RU Nichols Rd Partners, LLC 8 10 TR 37305; Lot 169 2019-20 $2,600 / Acre $0 / Acre Nichols Rd Partners, LLC 9 11 TR 32129 & 30698 2020-21 $541 / RU $69 / RU
Donald S. Clurman &
Three Strands Properties, LLC &
Spectrum Communities, LLC
10 12 TR 33370 2021-22 $294 / RU $30 / RU JLJ, LP
11 13 PM 37534 2021-22 $1,113 / Acre $0 / Acre SRZ Yuma, LLC 12 14 TR 33725 2021-22 $749 / RU $87 / RU SPT-AREP III Tuscany Associates 12 15 TR 25475 2021-22 $594 / RU $62 / RU SPT-AREP III Tuscany Associates 13 16 LLA 2019-007 2021-22 $407 / Acre $0 / Acre Wal-Mart Real Estate Business Trust
14 17 TR 38008 2021-22 $366 / RU $123 / RU Tri Pointe Homes IE-SD, Inc. 15 18 TPM 37751 2021-22 $2,188 / Acre $2,540 / Acre Boos-Up Lake Elsinore 16 19 PM 37710 2021-22 $1,034 / Acre $0 / Acre Pennington Industrial, LLC 17 20 TR 37280 2022-23 $323 / RU $5 / RU Lake Elsinore Lakeshore, LLC and Erin Crowder
18 21 TR 38116 2022-23 $387 / RU $82 / RU Tri Pointe Homes IE-SD, Inc.

APPENDIX B

CITY OF LAKE ELSINORE
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES)

DESCRIPTION OF AUTHORIZED SERVICES
The services which may be funded with proceeds of the special tax of CFD No. 2015-2, as provided by Section 53313 of the Act, will include all costs attributable to maintaining, servicing, cleaning, repairing and/or replacing landscaped areas (may include reserves for replacement) in public street right-of-ways, public landscaping, public open spaces and other similar landscaped areas officially dedicated for public use. These services including the following:
(a) maintenance and lighting of parks, parkways, streets, roads and open space, which maintenance and lighting services may include, without limitation, furnishing of electrical power to street lights; repair and replacement of damaged or inoperative light bulbs, fixtures and standards; maintenance (including irrigation and replacement) of landscaping vegetation situated on or adjacent to parks, parkways, streets, roads and open space; maintenance and repair of irrigation facilities; maintenance of public signage; graffiti removal from and maintenance and repair of public structures situated on parks, parkways, streets, roads and open space; maintenance and repair of playground or recreation program equipment or facilities situated on any park; and
(b) maintenance and operation of water quality improvements which include storm drainage and flood protection facilities, including, without limitation, drainage inlets, catch basin inserts, infiltration basins, flood control channels, fossil fuel filters, and similar facilities. Maintenance services may include but is not limited to the repair, removal or replacement of all or part of any of the water quality improvements, fossil fuel filters within the public right-of-way including the removal of petroleum hydrocarbons and other pollutants from water runoff, or appurtenant facilities, clearing of inlets and outlets; erosion repairs; and cleanup to improvements, and other items necessary for the maintenance, servicing; or both of the water quality basin improvements within flood control channel improvements; and
(c) public street sweeping, on the segments of the arterials within the boundaries of CFD No. 2015-2; as well as local roads within residential subdivisions located within CFD No. 2015-2; and any portions adjacent to the properties within CFD No. 2015-2; and In addition to payment of the cost and expense of the forgoing services, proceeds of the special tax may be expended to pay “Administrative Expenses,” as said term is defined in the Rate and Method of Apportionment.

APPENDIX C

CITY OF LAKE ELSINORE
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES)

PROPOSED BOUNDARIES AND POTENTIAL ANNEXATION AREA BOUNDARIES

EXHIBIT B
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) SPECIAL TAX FISCAL YEAR 2022-23
(Effective as of February 28, 2023)

ASSESSOR'S PARCEL NUMBERS
Annexation Zone Owner Assessor's Parcel Numbers
Original 1 Tractor Supply 377-120-068
1 2 Pardee Homes See Below
2 3 Pasadena Industrial Park, LLC 377-120-032, -043 thru -047, -069, and -071
3 4 ARI Chaney Street, LLC 377-140-028 thru -030, -032 thru -035, -038 thru -041, -044 thru -046
4 5 LE Cottage Lane, LLC See Next Page
5 6 Lake Elsinore CCR, LLC 365-030-048
6 7 Pardee Home See Next Page
7 8 Central Plaza 377-081-002 thru -009
8 9 Nichols Rd Partners, LLC
389-200-038 (por.),
389-210-008 (por.), 389-210-032,
389-210-034, and 389-210-036 (por.)
8 10 Nichols Rd Partners, LLC 389-200-046, -049, and -053 9 11
Donald S. Clurman &
Three Strands Properties, LLC &
Spectrum Communities, LLC
See Next Page
10 12 JLJ, LP See Next Page
11 13 SRZ Yuma, LLC 377-081-035
12 14 SPT AREP III Tuscany Associates
349-240-006, -043, -044, -045, -046,
-047, -054, -055, -056 and
349-380-024, -025
12 15 SPT AREP III Tuscany Associates 349-240-034, -038, -072, -075 13 16 Wal-Mart Real Estate Business Trust 377-090-052, -053, -054, -055, -056, -057
14 17 Tri Pointe Homes IE-SD, Inc. 363-940-038
15 18 Boos-Up Lake Elsinore 377-243-024
16 19 Pennington Industrial, LLC 377-160-051, -052, -053 17 20 Lake Elsinore Lakeshore, LLC and
Erin Crowder 379-230-001 and 379-230-002
18 21 Tri Pointe Homes IE-SD, Inc. 379-060-005, -022, and -027 EXHIBIT B (cont.)
ANNEXATION NO. 1

ASSESSOR'S PARCEL NUMBERS
Assessor's Parcel Numbers
358710001 358710002 358710003 358710004 358710005 358710006 358710007 358710008 358710009 358710010 358710011 358710012 358710013 358710014 358710015 358710016 358710017 358710018 358710019 358710020 358710021 358710022 358710023 358710024 358710025 358710026 358710027 358710028 358710029 358710030 358710031 358710032 358710033 358710034 358710035 358710036 358710037 358710038 358710039 358710040 358710041 358711001 358711002 358711003 358711004 358711005 358711006 358711007 358712001 358712002 358712003 358712004 358712005 358712006 358712007 358712008 358712009 358712010 358712011 358712012 358712013 358712014 358712015 358712016 358712017 358712018 358712019 358712020 358712021 358712022 358712023 358712024 358712025 358712026
ANNEXATION NO. 4

ASSESSOR'S PARCEL NUMBERS
Assessor's Parcel Numbers
379490004 379490005 379490006 379490007 379490008 379490009 379490010 379491001 379491002 379491003 379491004 379491005 379491006 379491007 379491008 379491010 379491011 379491012 379491013 379491014 379491017 379491018 379491019 379491020 379491021 379491022 379491023 379491024 379491025 379491026 379491027 379491028 379491029 379491030 379491031 379491032 379491033 379491034 379491035 379491036 379491037
ANNEXATION NO. 6

ASSESSOR'S PARCEL NUMBERS
Assessor's Parcel Numbers
379051001 379051002 379051003 379051004 379051005 379051006 379051007 379051009 379051010 379051011 379051013 379051014 379051015 379051016 379051018 379051019 379051020 379051021 379051023 379051024 379051025 379051026 379051027 379051028 379051029 379051031 379051032 379051033 379051034 379051035 379051036 379051037 379051038 379051040 379051041 379051042 379051043 379051045 379051046 379051047 379051048 379051049 379051051 379051052 379051053 379051054 379051055 379051056 379051057 379051058 379051061 379051062 379051063 379051064 379051066 379051067 379051068 379051069 379051071 379051072 379051073 379051074 379051075 379051077 379051078 379051079 379051080 379051081 379051083 379051084 379051085 379051086 379051087 379051089 379051090 379051091 379051092 379052001 379052002 379052003 379052004 379052005 379052006 379052007 379052008 379052009 379052011 379052012 379052013 379052014 379052016 379052017 379052018 379052019 379052020 379052022 379052023 379052024 379052025 379052026 379052027 379052028 379052029 379052031 379052032 379052033 379052034 379052035 379052036 379052037 379052038 379052039 379052040 379052042 379052043 379052044 379052045 379052046 379052047 379052049 379052050 379052051 379052052 379052053 379052054 379052056 Assessor's Parcel Numbers
379052057 379052058 379052059 379052060 379052061 379052062 379052064 379052065 379052066 379052067 379052068 379052087 379052088 379052089 379052090 379052091 379052092 379052094 379052095 379052096 379052097 379052098 379053001 379053002 379053003 379053004 379053005 379053006 379053007 379053008 379053009 379053010 379053011 379053012 379053014 379053015 379053016
ANNEXATION NO. 9

ASSESSOR'S PARCEL NUMBERS
Assessor's Parcel Numbers
347110021 347580007 347580001 347580002 347580003 347580004 347580005 347580006 347581001 347581002 347581003 347581004 347581005 347581006 347581007 347581008 347582001 347582002 347582003 347582004 347582005 347582006 347582007 347582008 347582009 347580010 347582023 347582019 347582018 347582017 347582016 347582015 347582014 347582013 347582012 347582021 347560012 347560013 347560014 347560015 347560016 347560017 347560018 347560019 347560043 347560020 347560021 347560022 347560023 347560024 347560025 347560026 347560027 347560028 347560044 347560029 347560030 347560031 347560032 347560033 347560034 347560035 347560036 347560037 347560038 347560039 347560040 347560041 347560042 347560001 347560002 347560003 347560004 347560005 347560006 347560007 347560008 347560009 347560010 347560011 347570001 347570002 347570003 347570004 347570005 347570006 347570007 347570008 347570009 347570010 347570011 347570012 347570013 347570014 347561001 347561002 347561003 347561004 347561005 347561006 347561007 347561008 347561009 347561010 347561011 347561012 347561013 347561014 347561015 347561016 347561017 347561018 347570015 347570016 347570017 347570018 347570019 347570020 347570021 347570022 347571001 347571002 347571003 347571004 347571005 347571006 347571007 347571008 347571009 347571010 347571011 347571012 347571013 347571014 347571015 347571016 347571017 347571018 347571019 347571020 347571021 347571022 347571023 347571024 347571025 347571026 347571027 347571028 347571029 347562001 347562002 347562003 347562004 347562005 347562006 347562007 347562008 347562009 347562010 347562011 347562012 347562013 347562014 347562015 347562016 347562017
EXHIBIT B (cont.)
ANNEXATION NO. 10

ASSESSOR'S PARCEL NUMBERS
Assessor's Parcel Numbers
373071040 373074054 373074040 373074047 373074033 373074026 373074017 373074002 373074007 373074049 373074035 373074042 373074028 373074022 373074013 373074018 373074003 373074008 373074050 373074036 373074043 373074029 373074023 373074014 373074019 373074004 373074009 373074051 373074037 373074044 373074030 373074024 373074015 373074020 373074005 373074010 373074052 373074038 373074045 373074031 373074025 373074016 373074001 373074006 373074011 373074053 373074039 373074046 373074032

Page 1 of 4 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor or Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Damaris Abraham, Interim Assistant Community Development Director Date: February 14, 2023
Subject: Council Policy No. 400-16 – Good Neighbor Policy for Warehousing, Logistics, and Distribution Uses
Recommendation

1. Find Council Policy No. 400-16 Exempt from the California Environmental Quality Act (CEQA), pursuant to CEQA Guidelines Section 15061(b)(3);

2. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, ADOPTING COUNCIL POLICY NO. 400-16 ESTABLISHING A GOOD

NEIGHBOR POLICY FOR WAREHOUSING, LOGISTICS, AND DISTRIBUTION USES WITHIN THE CITY; and

3. Direct staff to amend Title 17 (Zoning) of the Lake Elsinore Municipal Code to include definitions and modify applicable Zoning Districts for Warehousing, Logistics, and Distribution Uses.

Background
By Memorandum to City Manager Jason Simpson dated June 28, 2022, Councilmember Bob Magee outlined a “Proposed Good Neighbor Policy” to address issues regarding large warehouse/logistic centers near sensitive receptors such as residential structures, schools, daycares, hospitals, senior/assisted living homes, and outdoor recreational areas. The stated purpose and intent of the Good Neighbor Policy is to “… preserve the City Council’s vision and our 2040 plan.”
At the July 26, 2022 City Council meeting, the City Council established a Council subcommittee that included Council Members Bob Magee and Steve Manos to work with City staff to develop recommendations regarding policies and standards for the Good Neighbor Policy.

Good Neighbor Policy

Page 2 of 4 ends

The subcommittee has worked with City staff to develop policies and standards that would be appropriate for most warehouse, industrial or distribution land uses or buildings that provide a cumulative square footage of 250,000 or more. This policy will ensure that larger-scale warehousing, logistics, and distribution projects will be designed and operated in order to mitigate negative impacts on sensitive receptors and the environment. This policy will also preserve and advance the City Council’s vision as set forth in the City’s General Plan and Dream Extreme 2040 Plan.

Discussion
In recent years, the Inland Empire has seen significant growth in the warehousing, logistics, and distribution industries. It is expected that market conditions for these industries will remain strong in the Inland Empire and that demand for more sites will also remain strong. As neighboring communities reach significant levels of build-out, it is anticipated that Lake Elsinore will become an increasingly attractive location for these market segments. The City of Lake Elsinore recognizes that the construction and operations of these uses will generate negative impacts to residences and/or other sensitive land uses (“sensitive receptors”) that must be mitigated in order to maintain quality of life; protect public health, safety, and welfare; and ensure orderly development. Sensitive receptors generally include residences, schools, parks, playgrounds, community centers, assisted living, daycare centers, nursing homes, hospitals, places of religious assembly, and similar uses.

This policy provides a framework for larger-scale warehousing, logistics, and distribution projects to be designed and operated in order to mitigate negative impacts on sensitive receptors and the environment and to preserve and advance the City Council’s vision as set forth in the City’s General Plan and Dream Extreme 2040 Plan. This policy is meant to apply Best Management Practices (“BMPs”) to help minimize potential impacts to sensitive receptors and will be used in addition to applicable requirements of the City’s Zoning Code and the California Environmental Quality Act (CEQA). This policy does not replace the need for the preparation of appropriate project-specific environmental review and application of any necessary mitigation measures. This policy provides a series of development and operational criteria that can be implemented to supplement project-level mitigation measures in order to adequately mitigate impacts related to warehousing, logistics and distribution land uses on sensitive receptors.

Applicability
This policy applies to warehousing, logistics, and distribution development projects that include a cumulative floor area of at least 250,000 square feet inclusive of all buildings. Warehousing, logistics and distribution facility means those facilities used for the storage and/or consolidation of manufactured goods and/or raw materials (excluding bulk storage of materials which are flammable or explosive or create hazardous or commonly recognized offensive conditions) before their distribution to retail locations or other off-site facilities. These facilities may include manufacturing, assembly, and/or fabrication operations. They are typically characterized by dock high loading doors that could be on opposing sides of the building (cross dock facility); significant movement and storage of products, materials, or equipment; truck activities frequently outside of the peak hour of the adjacent street system; and freeway access, including: freight Good Neighbor Policy

Page 3 of 4 ends

yards/forwarding terminals, warehousing distribution/high cube distribution centers, moving agencies, parcel delivery terminals, railroad freight stations, shipping/receiving yards, and truck terminals.

This policy provides guidance that will be appropriate for most warehouse, industrial or distribution land uses with buildings that provide for a cumulative square footage of 250,000 or more, inclusive of all buildings located on a single parcel.

Project-level review under CEQA will continue to apply to any and all projects, regardless of their square footage and size, and may include technical reports including, but not limited, noise, air quality, and traffic related impact evaluations. The hearing body (Planning Commission or City Council) has sole discretion and authority to approve projects that deviate from the guidance provided in this policy, subject to site-specific conditions (such as the specifics of site topography, proximity of adjacent sensitive receptors, and other relevant factors), appropriate environmental review, and other factors that the City Council may consider at its sole discretion.

Additional Considerations
Currently, the City’s General Plan provides for warehouse uses in the City’s “Limited Industrial” Land Use Designation. The Limited Industrial Land Use Designation is consistent with the Limited Manufacturing (M-1) and General Manufacturing (M-2) zoning designations. However, warehousing, logistics, and distribution land uses are not currently defined in the Lake Elsinore Municipal Code (LEMC) and are not identified as either a permitted or conditional use in the M-1 or M-2 zoning districts. Title 17 (Zoning) of the LEMC would need to be amended to include definitions and to modify the applicable Zoning Districts for Warehousing, Logistics, and Distribution Uses.

Environmental Determination
This policy is exempt from the California Environmental Quality Act (CEQA) per CEQA Guidelines Section 15061(b)(3) Common Sense Exemption based on the “general rule that CEQA applies only to projects which have the potential for causing a significant effect on the environment.” The use of this exemption is appropriate if it can be seen with certainty that there is no possibility that the activity in question may have a significant effect on the environment. This policy will not approve any specific project nor allow any development with the potential to cause a physical environmental impact. The policy itself would only apply to future development and would actually lessen the potential for future physical environmental impacts pursuant to CEQA. Furthermore, as the policy would not result in a direct or reasonably foreseeable indirect physical change to the environment and would ultimately be more protective of the environment, approval of the project itself would not be deemed a “project” for CEQA purposes based on the language under Section 15060(c)(2) of CEQA Guidelines.

Fiscal Impact
Costs related to the implementation of this policy will be paid by fees collected from developers through entitlement review application fees and the City’s cost recovery program.

Good Neighbor Policy

Page 4 of 4 ends

Attachments
Attachment 1 –Resolution
Exhibit A – Council Policy No. 400-16 Good Neighbor Policy RESOLUTION NO. 2023-

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, ADOPTING COUNCIL POLICY NO. 400-16 ESTABLISHING A GOOD

NEIGHBOR POLICY FOR WAREHOUSING, LOGISTICS, AND DISTRIBUTION

USES WITHIN THE CITY
Whereas, the City of Lake Elsinore (City) recognizes that the construction and operations of larger-scale warehousing, logistics and distribution uses will generate negative impacts to residences and/or other sensitive land uses (“sensitive receptors”) that must be mitigated in order to maintain quality of life; protect public health, safety, and welfare; and ensure orderly development; and,
Whereas, sensitive receptors generally include residences, schools, parks, playgrounds, community centers, assisted living, day care centers, nursing homes, hospitals, places of religious assembly, and similar uses; and,
Whereas, in order to mitigate negative impacts on sensitive receptors and the environment and to preserve and advance the City Council’s vision as set forth in the City’s General Plan and Dream Extreme 2040 Plan, the City Council desires to adopt a policy to provide a framework for design and operation of larger-scale warehousing, logistics and distribution projects with a cumulative square footage of 250,000 or more; and, Whereas, this policy will apply Best Management Practices (BMPs) and development and operational criteria to help minimize potential impacts to sensitive receptors and will be used in addition to applicable requirements of the City’s Zoning Code and the California Environmental Quality Act (CEQA); and,
Whereas, this policy is exempt from the California Environmental Quality Act (CEQA) per CEQA Guidelines Section 15061(b)(3) Common Sense Exemption based on the “general rule that CEQA applies only to projects which have the potential for causing a significant effect on the environment.” The use of this exemption is appropriate if it can be seen with certainty that that there is no possibility that the activity in question may have a significant effect on the environment.

This policy will not approve any specific project nor allow any development with the potential to cause a physical environmental impact. The policy itself would only apply to future development and would actually lessen the potential for future physical environmental impacts pursuant to CEQA. Furthermore, as the policy would not result in a direct or reasonably foreseeable indirect physical change to the environment and would ultimately be more protective of the environment, approval of the project itself would not be deemed a “project” for CEQA purposes based on the language under Section 15060(c)(2) of CEQA Guidelines.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:

Section 1: The City Council of the City of Lake Elsinore hereby adopts Council Policy No. 400-16 establishing a Good Neighbor Policy for Warehousing, Logistics, and Distribution Uses, attached hereto as Exhibit "A" and incorporated herein by this reference.

Section 2: This Resolution shall take effect immediately upon its adoption.

Section 3: The City Clerk shall certify to the adoption of this Resolution and enter it into the book of original Resolutions.

Passed and Adopted on this 14th day of February, 2023.

Natasha Johnson
Mayor
Attest:
___________________________________
Candice Alvarez, MMC
City Clerk

STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.

CITY OF LAKE ELSINORE )
I, Candice Alvarez, MMC, City Clerk of the City of Lake Elsinore, California, do hereby certify that Resolution No. 2023-____ was adopted by the City Council of the City of Lake Elsinore, California, at the regular meeting of February 14, 2023, and that the same was adopted by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:

Candice Alvarez, MMC
City Clerk

CITY OF LAKE ELSINORE, CALIFORNIA

COUNCIL POLICY MANUAL
Policy No. 400-16
Effective Date:

Revised:

SUBJECT: “Good Neighbor Policy” for
Warehousing, Logistics, and
Distribution Uses

Page 1 of 5 ends

PURPOSE
In recent years, the Inland Empire has seen significant growth in the warehousing, logistics, and distribution industries. It is expected that market conditions for these industries will remain strong in the Inland Empire and that demand for more sites will also remain strong. As neighboring communities reach significant levels of build out, it is anticipated that Lake Elsinore will become an increasingly attractive location for these market segments. The City of Lake Elsinore recognizes that the construction and operations of these uses will generate negative impacts to residences and/or other sensitive land uses (“sensitive receptors”) that must be mitigated in order to maintain quality of life; protect public health, safety, and welfare; and ensure orderly development. Sensitive receptors generally include residences, schools, parks, playgrounds, community centers, assisted living, day care centers, nursing homes, hospitals, places of religious assembly or institution, and similar uses.

This policy provides a framework for larger-scale warehousing, logistics and distribution projects to be designed and operated in order to mitigate negative impacts on sensitive receptors and the environment and to preserve and advance the City Council’s vision as set forth in the City’s General Plan and Dream Extreme 2040 Plan. This policy is meant to apply Best Management Practices (“BMPs”) to help minimize potential impacts to sensitive receptors and will be used in addition to applicable requirements of the City’s Zoning Code and the California Environmental Quality Act (CEQA). This policy does not replace the need for preparation of appropriate projectspecific environmental review and application of any necessary mitigation measures. This policy provides a series of development and operational criteria that can be implemented to supplement project-level mitigation measures in order to adequately mitigate impacts related to warehousing, logistics and distribution land uses on sensitive receptors.

This policy will be implemented by incorporation into the conditions of approval that are part of the approval process for individual development projects. This provides a mechanism by which applicants and the public are made aware of how these guidelines are specifically implemented on a project-by-project basis and will provide an opportunity for City staff to monitor ongoing compliance with the individual conditions of approval.

APPLICABILITY
This policy applies to warehousing, logistics, and distribution land uses that include a cumulative square footage of 250,000 or more inclusive of all buildings located in a single project.

Warehousing, logistics and distribution facility means those facilities used for the storage and/or consolidation of manufactured goods and/or raw materials (excluding bulk storage of materials

CITY OF LAKE ELSINORE, CALIFORNIA

COUNCIL POLICY MANUAL
SUBJECT: “Good Neighbor Policy” for Policy No. 400-16
Warehousing, Logistics, and
Distribution Uses
Effective Date:
which are flammable or explosive or create hazardous or commonly recognized offensive conditions) before their distribution to retail locations or other off-site facilities. These facilities may include manufacturing, assembly, and/or fabrication operations. They are typically characterized by dock high loading doors that could be on opposing sides of the building (cross dock facility); significant movement and storage of products, materials, or equipment; truck activities frequently outside of the peak hour of the adjacent street system; and freeway access, including: freight yards/forwarding terminals, warehousing distribution/high cube distribution centers, moving agencies, parcel delivery terminals, railroad freight stations, shipping/receiving yards, and truck terminals.

This policy provides guidance that will be appropriate for most warehouse, industrial, or distribution land uses with buildings that provide for a cumulative square footage of 250,000 or more, inclusive of all buildings located in a single project.

The Planning Division shall use this policy to review warehousing, logistics and distribution projects and, in instances where a project does not conform to this policy, shall document findings of non-compliance that will be considered by the Planning Commission and City Council. The hearing body (Planning Commission or City Council) has sole discretion and authority to approve projects that deviate from the guidance provided in this policy, subject to site-specific conditions (such as the specifics of site topography, proximity of adjacent sensitive receptors, and other relevant factors), appropriate environmental review, and other factors that the City Council may consider at its sole discretion.

STANDARDS
Siting and Design:

1. Warehousing, logistics, and distribution land uses with buildings that provide for a cumulative square footage of 250,000 or larger, inclusive of all buildings located in a single project, that are located within 1,000 feet of an existing or planned sensitive receptor shall provide detailed justification supporting a proposed separation of less than 1,000 feet as measured from the property line of the sensitive receptor to the nearest point of any proposed warehousing, logistics and distribution building. In no case shall the minimum setback from an existing sensitive receptor to truck bays, loading docks, outdoor storage areas, or any buildings be less than 500 feet to any property line of a sensitive receptor. Other setbacks appropriate to the site’s zoning classification shall be incorporated in the design.

CITY OF LAKE ELSINORE, CALIFORNIA

COUNCIL POLICY MANUAL
SUBJECT: “Good Neighbor Policy” for Policy No. 400-16
Warehousing, Logistics, and
Distribution Uses
Effective Date:

2. Warehousing, logistics and distribution land uses shall be designed to provide adequate onsite parking for commercial trucks and passenger vehicles and shall provide for adequate onsite queuing for trucks that is located away from sensitive receptors. The general queuing and spill-over of trucks onto surrounding public streets shall be prevented. Commercial trucks shall not be parked in the public right-of-way or nearby residential areas.

3. Entry gates into loading dock(s)/truck court area(s) shall be positioned at a minimum of 140 feet inside the property line. The stacking distance shall be increased by 70 feet for every 20 loading docks beyond 40 docks. Queuing, or circling of vehicles, on public streets immediately pre- or post-entry to a warehousing, logistics and distribution facility is strictly prohibited.

Applicants shall submit to the Engineering Department, and obtain approval of, all turning templates to verify truck turning movements at entrance and exit driveways and street intersections adjacent to said warehousing, logistics and distribution buildings prior to entitlement approval.

4. Sites shall be fully screened with perimeter landscaping and masonry screening walls along all bordering streets and adjacent to the property lines of sensitive receptors. Perimeter screening shall measure a minimum of 15 feet in width and shall include, but not be limited to, a continuous vegetative screen of overstory trees that measure a minimum of 25 feet in height within ten (10) years of planting and a solid masonry wall of at least six (6) feet in height.

Trees shall be provided at a ratio of one (1) 24” box tree per 20 linear feet. Plans for the perimeter landscape buffer shall be prepared by a landscape architect licensed to do business in the State of California and shall incorporate adequate access points for routine maintenance and meet the City's Water Efficient Landscape Requirements (LEMC Chapter 19.08). The property owner will be responsible to establish a long-term maintenance mechanism to assure that the landscaping remains in place and functional in accordance with the approved landscaping plan and shall be responsible to ensure that the landscaping is maintained in a healthy, living condition, to include the replacement of dead, diseased, or dying plant materials as soon as practicable.

5. Building planes visible from public view shall be articulated by changes in exterior building materials, color, decorative accents, and/or articulated features. Modulation and variation of building masses between adjacent buildings visible from public streets shall be provided.

Pedestrian and ground-level building entries accessible to visitors should be designed using recessed entries, covered entries, projections, or roofs to provide shade and visual relief at a pedestrian scale.

CITY OF LAKE ELSINORE, CALIFORNIA

COUNCIL POLICY MANUAL
SUBJECT: “Good Neighbor Policy” for Policy No. 400-16
Warehousing, Logistics, and
Distribution Uses
Effective Date:

Construction and Operation:

6. All construction and grading related activities shall comply with the South Coast Air Quality Management District (SCAQMD) Regulations in effect at the time work commences.

7. The following environmentally responsible practices shall be required during construction:
a. The applicant shall use reasonable best efforts, as determined by the Community Development Director, or designee, to deploy the highest rated California Air Resources Board (CARB) Tier technology that is available at the time of construction. Prior to permit issuance, the construction contractor shall submit an equipment list confirming equipment used is compliant with the highest CARB Tier at the time of construction. Equipment proposed for use that does not meet the highest CARB Tier in effect at the time of construction, shall only be approved for use at the discretion of the Community Development Director, or designee.
b. Use of electric-powered hand tools, forklifts, aerial lifts, materials lifts, hoists, pressure washers, plate compactors, and air compressors.
c. Designation of an area in any construction site where electric-powered construction vehicles and equipment can charge if the utility provider can provide temporary power for this purpose.
d. Identification in site plans of a location for future electric truck charging stations and installation of a conduit to that location.

8. A Property Maintenance Program shall be submitted for review and approval by the Community Development Director or designee prior to the issuance of building permits. The program shall provide for the regular maintenance of building structures, landscaping, and paved surfaces in good physical condition, and appearance. The methods and maximum intervals for maintenance of each component shall be specified in the program.

9. Facility operators shall coordinate with CARB and SCAQMD to obtain the latest information about regional air quality concentrations, health risks, and trucking regulations.

10. Provisions of the City's Noise Ordinance (LEMC Chapter 17.176) shall be satisfied during all site preparation and construction activity. Site preparation activity and construction shall not commence before 7:00 AM and shall cease no later than 5:00 PM, Monday through Friday.

CITY OF LAKE ELSINORE, CALIFORNIA

COUNCIL POLICY MANUAL
SUBJECT: “Good Neighbor Policy” for Policy No. 400-16
Warehousing, Logistics, and
Distribution Uses
Effective Date:

Only finish work and similar interior construction may be conducted on Saturdays and may commence no earlier than 8:00 am and shall cease no later than 4:00 p.m. Construction activity shall not take place on Sunday, or any Legal Holidays. The applicant shall place a weatherproof 3’ X 3’ sign at the entrance to the project site identifying the approved days and hours of construction activity. The sign shall identify the name and phone number of the development manager to address any complaints.

11. Facility hours of business operations shall be limited to Monday through Friday 7:00 a.m. to 7:00 p.m. and no work shall occur on the weekends or Legal Holidays adjacent to sensitive receptors, except when the operator demonstrates through site design and mitigation measures to adequately shield and reduce noise impacts to the sensitive receptors. At no time shall refrigerated trucks parked outdoors run and/or idle outside of the facility hours of operation. Changes to the hours of operation shall be reviewed on a project-by-project basis and shall be included in the Conditions of Approval for the project.

12. At no time during normal business hours shall the noise generated from the adjacent industrial operation exceed 65 dba as measured from the closest property line of a sensitive receptor.

13. A City representative shall conduct periodic on-site inspections during and after construction to verify compliance or recommend better efforts toward compliance during grading, construction, and operational activities.

HISTORY
Adopted by Resolution No. 2023-XXX [Date]

Lake Elsinore City CouncilFebruary 14, 2023

Lake Elsinore City Council
February 14, 2023