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FISCAL YEAR 2024-2025
ADMINISTRATION REPORT
CITY OF PLACENTIA
COMMUNITY FACILITIES DISTRICT NO. 2024-1
(OLD TOWN MAINTENANCE SERVICES)
JUNE 5, 2024
Public Finance
Public -Private Partnerships
Development Economics
Clean Energy Bonds
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18201 Von Karman Avenue, Suite 220
Irvine, CA 92612
FISCAL YEAR 2024-2025
ADMINISTRATION REPORT
Community Facilities District No. 2024-1
(Old Town Maintenance Services)
Prepared for:
City of Placentia
401 E. Chapman Avenue
Placentia, California 92870
TABLE
OF CONTENTS
SECTION
INTRODUCTION 1
I SPECIAL TAX CLASSIFICATIONS AND
DEVELOPMENT UPDATE 2
II FISCAL YEAR 2024-2025 SPECIAL TAX
REQUIREMENT FOR SERVICES 5
III METHOD OF APPORTIONMENT 6
APPENDICES
APPENDIX A
APPENDIX B
APPENDIX C
BOUNDARY MAP
RATE AND METHOD OF
APPORTIONMENT
SPECIAL TAX ROLL, FISCAL YEAR
2024-2025
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m
INTRODUCTION
INTRODUCTION
This Mello -Roos Community Facilities District Administration Report presents the findings of the research and financial analysis performed by DTA. to determine the special tax requirement for Community Facilities District No. 2024-1 ("CFD No. 2024-1") of the City of Placentia ("the City") for fiscal year 2024-2025.
CFD No. 2024-1 is a legally constituted governmental entity established under the Mello - Roos Community Facilities Act of 1982, (the "Act") as amended. The Act provides an alternative method for the financing of certain public facilities and services. Specifically, CFD No. 2024-1 is authorized to levy the Special Tax to pay for authorized maintenance services.
A map showing the property in CFD No. 2024-1 is included in Appendix A. At the time of formation, there was one Assessor's Parcel included in the boundary of CFD No. 2024-1.
Property located in the future annexation area will be annexed into CFD No. 2024-1 as such property meets the City's annexation requirements.
The authorized services are funded through the annual levy and collection of special taxes from all property subject to the tax within the community facilities district. In calculating the special tax liability for fiscal year 2024-2025, this report examines the financial obligations of the current fiscal year and analyzes the level of development within CFD No. 2024-1. Pursuant to the Rate and Method of Apportionment ("RMA"), the Special Tax shall be levied as long as necessary to meet the Special Tax Requirement for Services. The RMA is included in Appendix B.
This report is organized into the following sections:
Section I
Section I provides an update of the development status of property within CFD No. 2024-1.
Section II
Section II determines the special tax requirement for services for CFD No. 2024-1 for fiscal year 2024-2025.
Section III
Section III reviews the methodology used to apportion the special tax requirement for services between the various Land Use Classes of Developed Property. A table of the fiscal year 2024-2025 Special Tax for each classification of property is included.
City of Placentia CFD No. 2024-1 (Old Town Maintenance Services) June 5, 2024 Fiscal Year 2024-2025 Administration Report
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SECTION I
SPECIAL TAX CLASSIFICATIONS
AND DEVELOPMENT UPDATE
I SPECIAL TAX CLASSIFICATIONS AND DEVELOPMENT UPDATE
The methodology employed to calculate and apportion the special tax is contained in a document entitled the Rate and Method of Apportionment ("RMA"). The RMA establishes the Special Tax which is used to fund the cost of annual services. The RMA defines five categories of property, namely "Developed Property," "Rehab/Remodel Property," "Parking Lot Property," "Existing Building/Structure Property," and "Undeveloped Property." Developed Property is identified by the issuance of a building permit for which a building permit was issued as of March 1 of the previous fiscal year for construction of a new building/structure. For example, all property in CFD No. 2024-1 for which building permits were issued as of March 1, 2024 for new building/structures, will be classified as Developed Property in fiscal year 2024-2025.
Rehab/Remodel Property is identified as parcels of Existing Building/Structure Property for which a building permit with a construction valuation greater than $25,000 was issued after March 1, 2023 and prior to March 1 of the previous Fiscal Year to rehabilitate or remodel Existing Building/Structure Property.
Parking Lot Property is identified as parcels that are not Public Property and for which a building permit has been issued for the construction of, or on which is located a garage, parking lot, or parking structure, as of March 1 of the prior Fiscal Year, and on which is located no other Developed Property.
A Special Tax Classifications
For purposes of calculating the Special Tax, there are separate special tax classifications based on the type of structure built as shown in the table below.
City of Placentia CFD No. 2024-1 (Old Town Maintenance Services) June 5, 2024 Fiscal Year 2024-2025 Administration Report
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Land U
Class
SECTION I
SPECIAL TAX CLASSIFICATIONS
AND DEVELOPMENT UPDATE
Table 1: Special Tax
Developed Property Classifications
Description
1 Single Family Residential Property
2 Multi -Family Residential Property
3 Non -Retail Commercial Property
4 Retail Commercial Property
5 Office Property
6 Industrial Property
7 Hotel/Motel Property
8 Rehab/Remodel Property
9 Parking Lot Property
No Special Tax is levied on Undeveloped Property.
Dwelling unit
Dwelling unit
Square Foot of Non -Residential Floor Area
Square Foot of Non -Residential Floor Area
Square Foot of Non -Residential Floor Area
Square Foot of Non -Residential Floor Area
Hotel/Motel Room
Parcel Square Foot
Parcel Square Foot
B Development Update
As of March 1, 2024, building permits had been issued for one Assessor's Parcel subject to the Special Tax within CFD No. 2024-1. The table below lists the aggregate amount of development by special tax classification.
City of Placentia CFD No. 2024-1 (Old Town Maintenance Services) June 5, 2024 Fiscal Year 2024-2025 Administration Report
Description
Number of Units/Bldg. Sq.
Ft./Rooms/Parcel Sq. Ft.
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SECTION I
SPECIAL TAX CLASSIFICATIONS
AND DEVELOPMENT UPDATE
Table 2: Fiscal Year 2024-2025
Cumulative Development
Land Use
Class
1 Single Family Residential Property
2 Multi -Family Residential Property
3 Non -Retail Commercial Property
4 Retail Commercial Property
5 Office Property
6 Industrial Property
7 Hotel/Motel Property
8 Rehab/Remodel Property
9 Parking Lot Property
0 Dwelling Units
0 Dwelling Units
0 Square Foot of Non -Residential Floor Area
0 Square Foot of Non -Residential Floor Area
0 Square Foot of Non -Residential Floor Area
0 Square Foot of Non -Residential Floor Area
0 Hotel/Motel Rooms
13,416.48 Parcel Square Foot
0 Parcel Square Foot
City of Placentia CFD No. 2024-1 (Old Town Maintenance Services) June 5, 2024 Fiscal Year 2024-2025 Administration Report
/4
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SECTION IV
FISCAL YEAR 2024-2025 SPECIAL
TAX REQUIREMENT FOR SERVICES
II FISCAL YEAR 2024-2025 SPECIAL TAX REQUIREMENT FOR SERVICES Pursuant to the RMA, the Special Tax may be levied in CFD No. 2024-1 to pay for (a) maintenance services authorized to be financed by CFD No. 2024-1, and (b) administrative expenses; less (c) a credit for funds available to reduce the annual Special Tax levy, as determined by the CFD Administrator.
For fiscal year 2024-2025 the funds required from CFD No. 2024-1 exceed the maximum Special Tax that can be collected from the property described in Table 2 above. Therefore, the fiscal year 2024-2025 special tax requirement has been limited to $1,063, the amount that can be collected through the levy of the maximum special tax.
City of Placentia CFD No. 2024-1 (Old Town Maintenance Services) June 5, 2024 Fiscal Year 2024-2025 Administration Report
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III METHOD OF APPORTIONMENT
SECTION V
METHOD OF APPORTIONMENT
A Maximum Special Taxes
The amount of special taxes that CFD No. 2024-1 may levy is strictly limited by the maximum special taxes set forth in the Rate and Method of Apportionment. The maximum Special Tax is specified in Section C.1 of the RMA. On each July 1, commencing on July 1, 2024, the Maximum Special Tax shall be increased by the positive change in the Consumer Price Index of the amount in effect for the previous fiscal year, with a maximum annual increase of 6% and a minimum annual increase of 2% per fiscal year. As of January 1, 2024, the annual change in the Consumer Price Index was 3.472%. Therefore, an increase of 3.472% is applied.
B Apportionment of Special Tax
The annual Special Tax that is apportioned to each parcel is determined through the application of Section D of the RMA.
Commencing with fiscal year 2024-2025 and for each following fiscal year, the Council shall levy Special Tax so that the amount of Special Tax equals the special tax requirement for services. The special tax shall be levied proportionally on each Assessor's Parcel of property described in Table 1 above at up to 100% of the maximum Special Tax.
Application of the maximum special tax generates Special Tax revenues of $1,063 which is equal to the special tax requirement. The fiscal year 2024-2025 maximum Special Tax and actual Special Tax are shown for each classification of property in the following table.
City of Placentia CFD No. 2024-1 (Old Town Maintenance Services) June 5, 2024 Fiscal Year 2024-2025 Administration Report
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SECTION V
METHOD OF APPORTIONMENT
Table 3: FY 2024-2025 Special Tax
Land Use
Class
Description
FY 2024-2025
Maximum Special Tax
FY 2024-2025
Actual Special Tax
1 Single Family Residential Property
2 Multi -Family Residential Property
3 Non -Retail Commercial Property
4 Retail Commercial Property
5 Office Property
6 Industrial Property
7 Hotel/Motel Property
8 Rehab/Remodel Property
9 Parking Lot Property
$329.04 per Dwelling Unit
$303.17 per Dwelling Unit
$0.3100 per Bldg. Sq. Ft.
$0.2146 per Bldg. Sq. Ft.
$0.3100 per Bldg. Sq. Ft.
$0.3100 per Bldg. Sq. Ft.
$237.99 per room
$0.0792 per Parcel Sq. Ft.
$0.0688 per Parcel Sq. Ft.
$0.00 per Dwelling Unit
$0.00 per Dwelling Unit
$0.0000 per Bldg. Sq. Ft.
$0.0000 per Bldg. Sq. Ft.
$0.0000 per Bldg. Sq. Ft.
$0.0000 per Bldg. Sq. Ft.
$0.00 per room
$0.0792 per Parcel Sq. Ft.
$0.0000 per Parcel Sq. Ft.
Please note, pursuant to the RMA, no Special Tax shall be levied on Undeveloped Property.
A list of the actual Special Tax levied against each parcel in CFD No. 2024-1 is included in Appendix C.
City of Placentia CFD No. 2024-1 (Old Town Maintenance Services) Fiscal Year 2024-2025 Administration Report
June 5, 2024
APPENDIX A
Fiscal Year 2024-2025
Administration Report
City of Placentia
Community Facilities District No. 2024-1
(Old Town Maintenance Services)
/BOUNDARY MAP
cr-
SHEET 1 OF 2
Assessor Parcels in the City of Placentia
Community Facilities District No. 2024-1
(Old Town Maintenance Services):
339-052-27
Prepared by DTA
CONFORMED COPY
PROPOSED BOUNDARIES OF
CITY OF PLACENTIA
COMMUNITY FACILITIES DISTRICT NO. 2024-1
(OLD TOWN MAINTENANCE SERVICES)
CITY OF PLACENTIA, COUNTY OF ORANGE
STATE OF CALIFORNIA
Assessor Parcels
Community Facilities
339-052-14
339-052-15
339-052-16
339-052-17
339-052-18
339-052-19
339-052-20
339-052-21
339-052-24
339-052-26
339-052-27
339-052-28
339-052-29
339-061-01
339-061-02
339-061-03
339-061-04
339-061-05
339-061-06
339-061-07
339-061-08
339-061-09
339-061-10
339-061-11
339-061-12
339-061-13
339-061-14
339-061-15
339-061-16
339-061-17
339-355-02
339-355-03
339-355-04
339-355-05
339-355-06
339-355-07
in the Future Annexation Area of City of Placentia
District No. 2024-1 (Old Town Maintenance Services):
339-355-08
339-355-09
339-355-10
339-355-11
339-355-12
339-355-13
339-355-14
339-355-15
339-355-16
339-355-17
339-355-18
339-355-19
339-355-20
339-355-22
339-362-05
339-362-06
339-363-09
339-363-10
339-363-11
339-363-12
339-363-13
339-363-16
339-363-17
339-363-18
339-363-19
339-363-29
339-364-10
339-364-11
339-364-12
339-364-13
339-364-14
339-364-15
339-364-16
339-365-01
339-365-02
339-365-03
339-365-04
339-365-05
339-365-06
339-365-07
339-365-08
339-365-09
339-365-10
339-365-15
339-365-16
339-365-17
339-365-18
339-365-19
339-365-20
339-365-21
339-365-22
339-365-23
339-365-25
339-365-26
339-365-27
339-391-01
339-391-02
339-391-03
339-391-04
339-391-05
339-391-06
339-391-09
339-391-10
339-391-11
339-391-12
339-391-13
339-391-14
339-391-15
339-391-16
339-392-01
339-392-02
339-392-03
CONFORMED COPY
339-392-04
339-392-05
339-392-06
339-392-07
339-392-08
339-392-09
339-392-10
339-392-11
339-392-12
339-392-13
339-392-14
339-392-15
339-392-16
339-392-17
339-392-18
339-392-19
339-392-20
339-392-21
339-392-22
339-393-01
339-393-02
339-393-03
339-393-04
339-393-05
339-393-06
339-393-07
339-393-08
339-393-09
339-393-10
339-394-01
339-394-02
339-394-03
339-394-04
339-394-05
339-394-06
339-394-07
(1)
loq '10
Filed in the office of the City Clerk of the City of Placentia the 25'" day of Jun../ , 2024.
City Clerk,
City of Placentia
(2) I hereby certify that the within map showing the proposed boundaries of City of Placentia Community Facilities
District No. 2024-1 (Old Town Maintenance Services), City of Placentia, County of Orange, State of California, was approved by the City Council of the City of Placentia at a regular meeting thereof, held on the 23'4 day of
.6:47 , 2024, by its Resolution No. R-to2v-as'
City Clerk,
City of Placentia
(3) Filed this & day of F , 2024, at the hour of
/2 o'clock 35 pm, in Book , to of Maps of
Assessment and Community Facilities Districts at Page
go -N! Mfn and as Instrument No.
ZoZN00002-0109 , in the office of the County
Recorder in the County of Orange, State of Califomia, at the request of the City of Placentia.
Hugh Nguyen
Clerk -Recorder, County of Orange
By /4/4
Deputy Recorder
Fee
Exempt Recording Requested, per CA Govemment Code §27383
tr-
SHEET 2 OF 2
0 CONFORMED COFx
PROPOSED BOUNDARIES OF
CITY OF PLACENTIA
COMMUNITY FACILITIES DISTRICT NO. 2024-1
(OLD TOWN MAINTENANCE SERVICES)
CITY OF PLACENTIA, COUNTY OF ORANGE
STATE OF CALIFORNIA
/
•••MAIN - STREET
/09 y/
Reference is hereby made to the Assessor maps
of the County of Orange for a description of the
lines and dimensions of these parcels.
LEGEND
Proposed Boundaries of City of Placentia
Community Facilities District 2024-1 (Old
Town Maintenance Services)
Future Annexation Area
Prepared by DTA
APPENDIX B
Fiscal Year 2024-2025
Administration Report
City of Placentia
Community Facilities District No. 2024-1
(Old Town Maintenance Services)
RATE AND METHOD OF
APPORTIONMENT
RATE AND METHOD OF APPORTIONMENT FOR
CITY OF PLACENTIA
COMMUNITY FACILITIES DISTRICT NO. 2024-1
(OLD TOWN MAINTENANCE SERVICES)
A Special Tax as hereinafter defined shall be levied on all Assessor's Parcels in City of Placentia Community Facilities District No. 2024-1 ("CFD No. 2024-1") and collected each Fiscal Year commencing in Fiscal Year 2023-2024, in an amount determined by the City Council of the City of Placentia through the application of the Rate and Method of Apportionment as described below. All of the real property in CFD No. 2024-1, unless exempted by law or by the provisions hereof, shall be taxed for the purposes, to the extent and in the manner herein provided.
A. DEFINITIONS
The terms hereinafter set forth have the following meanings:
"Acre" or "Acreage" means the land area of an Assessor's Parcel as shown on an Assessor's Parcel Map, or if the land area is not shown on an Assessor's Parcel Map, the land area shown on the applicable final map, parcel map, condominium plan, or other recorded County parcel map.
"Act" means the Mello -Roos Community Facilities Act of 1982, as amended, being Chapter 2.5, Division 2 of Title 5 of the Government Code of the State of California.
"Administrative Expenses" means the following actual or reasonably estimated costs directly related to the administration of CFD No. 2024-1: 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 of collecting the Special Taxes (whether by the County or otherwise); the costs associated with preparing Special Tax disclosure statements and responding to public inquiries regarding the Special Taxes; the costs of the City, CFD No. 2024-1 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. 2024-1 for any other administrative purposes of CFD No. 2024-1.
"Assessor's Parcel" means a lot or parcel shown in an Assessor's Parcel Map with an assigned Assessor's parcel number.
"Assessor's Parcel Map" means an official map of the Assessor of the County designating parcels by Assessor's parcel number.
City of Placentia December 14, 2023
CFD No. 2024-1 (Old Town Maintenance Services) Page 1
"CFD Administrator" means an official of the City, or designee thereof, responsible for determining and providing for the levy and collection of the Special Tax.
"CFD No. 2024-1" means the City of Placentia Community Facilities District No. 2024-1 (Old Town Maintenance Services).
"City" means the City of Placentia.
"Consumer Price Index" means, for each Fiscal Year, the Consumer Price Index published by the U.S. Bureau of Labor Statistics for All Urban Consumers in the Los Angeles -Long Beach -Anaheim region, measured as of the month of December in the calendar year which ends in the previous Fiscal Year. In the event this index ceases to be published, the Consumer Price Index shall be another index as determined by the CFD Administrator that is reasonably comparable to the Consumer Price Index for the Los Angeles -Long Beach - Anaheim region.
"Council" means the City Council of the City.
"County" means the County of Orange, California.
"Developed Property" means, for each Fiscal Year, all Taxable Property, excluding Existing Building/Structure Property, for which a building permit was issued after March 1, 2023 and prior to March 1 of the previous Fiscal Year for construction of a new building/structure.
"Existing Building/Structure Property" means, for each Fiscal Year, all Taxable Property, for which a building or structure existed on such property prior to March 1, 2023.
"Fiscal Year" means the period starting July 1 and ending on the following June 30.
"Hotel/Motel Property" means, for each Fiscal Year, all Assessor's Parcels of Non -Residential Property for which a building permit has been issued for building a non-residential structure that constitutes a place of lodging providing sleeping accommodations and related facilities for travelers. Such related facilities may include, but are not limited to, on-site restaurants, retail establishments, conference rooms/areas, etc.
"Hotel/Motel Rooms" means, for each Assessor's Parcel of Hotel/Motel Property, the number of hotel/motel rooms available for rent for the purpose of overnight lodging, as indicated on the building permit issued by the City.
If such room data is not included on the building permit for an Assessor's City of Placentia December 14, 2023
CFD No. 2024-1 (Old Town Maintenance Services) Page 2
Parcel of Hotel/Motel Property, then the CFD Administrator shall rely on the site plan or other reasonable data sources as determined by the CFD Administrator.
"Industrial Property" means, for each Fiscal Year, all Assessor's Parcels of Non -Residential Property for which a building permit(s) was issued for construction of a non-residential structure(s) which is primarily used for:
manufacturing, procession, fabricating, assembly, refining, repairing, packaging, or treatment of goods, material or produce; research and development; and/or warehousing and wholesale distribution of goods, material, or produce.
"Maximum Special Tax" means the Maximum Special Tax, 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. 2024-1. "Multi -Family Residential Property" means any Assessor's Parcel of Residential Property for which one or more building permits have been issued for attached residential units, all of which are made available for rental, but not purchase, by the general public.
"Non -Residential Floor Area" means, for Non -Residential Property, the total square footage of enclosed area within the perimeter of a non-residential structure located on such property, not including any space devoted to vehicle parking, walkway, overhang, patio, and areas incident thereto for which a building permit for new construction was issued after March 1, 2023 and prior to March 1 of the previous Fiscal Year. The determination of Non - Residential Floor Area shall be made by reference to the building permit(s) issued for such Assessor's Parcel, or if square footage is not available from this source, as otherwise determined by the CFD Administrator. "Non -Residential Property" means, for each Fiscal Year, all Developed Property for which a building permit(s) was issued for the construction of a new building/structure with a non-residential use.
"Non -Retail Commercial Property" means all Assessor's Parcels of Non - Residential Property not considered (i) Hotel/Motel Property, (ii) Industrial Property, (iii) Retail Commercial Property, or (iv) Office Property. "Office Property" means, for each Fiscal Year, all Assessor's Parcels of Non - Residential Property for which a building permit(s) was issued for construction of a non-residential structure(s) which is primarily used for:
general, professional, and/or medical office space.
"Parcel Square Foot" or "Parcel Square Footage" means the land area, or Acreage multiplied by 43,560, of an Assessor's Parcel as shown on an City of Placentia December 14, 2023
CFD No. 2024-1 (Old Town Maintenance Services) Page 3
Assessor's Parcel Map, or if the land area is not shown on an Assessor's Parcel Map, the land area shown on the applicable final map, parcel map, condominium plan, or other recorded County parcel map.
"Parking Lot Property" means, for each Fiscal Year, any Assessor's Parcel that is not Public Property and for which a building permit has been issued for the construction of, or on which is located a garage, parking lot, or parking structure, as of March 1 of the prior Fiscal Year, and on which is located no other Developed Property, as determined by the CFD Administrator. "Property Owner Association Property" means, for each Fiscal Year, any Assessor's Parcel within the boundaries of CFD No. 2024-1 that was owned by a property owner association, including any master or sub -association, as of March 1 of the prior Fiscal Year.
"Proportionately" means, for Developed Property, Rehab/Remodel Property, and Parking Lot Property that the ratio of the actual Special Tax levy to the Maximum Special Tax is equal for all Developed Property, Rehab/Remodel Property, and Parking Lot Property.
"Public Property" means, for each Fiscal Year, any property within the boundaries of CFD No. 2024-1 that is (i) used for rights-of-way or any other purpose and is owned by or irrevocably offered for dedication to the federal government, the State of California, the County, the City or any other public agency as of March 1 of the prior Fiscal Year or (ii) encumbered by an unmanned utility easement making impractical its utilization for other than the purpose set forth in the easement as of March 1 of the prior Fiscal Year, provided however that any property leased by a public agency to a private entity and subject to taxation under Section 53340.1 of the Act shall be taxed and classified in accordance with its use.
"Rehab/Remodel Property" means all Assessor's Parcels of Existing Building/Structure Property for which a building permit with a construction valuation greater than $25,000, as determined by the CFD Administrator, was issued after March 1, 2023 and prior to March 1 of the previous Fiscal Year to rehabilitate or remodel Existing Building/Structure Property. "Residential Property" means all Developed Property for which a building permit has been issued for purposes of constructing one or more residential dwelling units.
"Retail Commercial Property" means all Assessor's Parcels of Non -Residential Property for which the building permit was issued for a retail sales tax generating use or which is being used primarily for a retail sales tax generating use, as determined by the CFD Administrator, and not considered (i) Hotel/Motel Property, (ii) Industrial Property, or (iii) Office Property.
City of Placentia December 14, 2023
CFD No. 2024-1 (Old Town Maintenance Services) Page 4
"Single Family Residential Property" means any Assessor's Parcel of Residential Property not considered Multi -Family Residential Property. "Special Tax" means the special tax to be levied in each Fiscal Year on each Assessor's Parcel of Taxable Property to fund the Special Tax Requirement for Services.
"Special Tax Requirement for Services" means that amount required in any Fiscal Year to: (i) pay directly for annual maintenance services that are authorized to be financed by CFD No. 2024-1; (ii) pay Administrative Expenses; less (iii) a credit for funds available to reduce the annual Special Tax levy, as determined by the CFD Administrator.
"State" means the State of California.
"Taxable Property" means all of the Assessor's Parcels within the boundaries of CFD No. 2024-1 which are not exempt from the Special Tax pursuant to law or Section E below.
"Undeveloped Property" means, for each Fiscal Year, all Taxable Property not classified as Developed Property, Rehab/Remodel Property, Parking Lot Property, Taxable Property Owner Association Property or Taxable Public Property.
"Welfare Exemption" means, for each Fiscal Year, any Assessor's Parcel that is used exclusively for charitable, hospital, or religious purposes and that has a property tax welfare exemption as indicated in the County's assessor's roll finalized as of the last preceding January 1.
B. ASSIGNMENT TO LAND USE CATEGORIES
Each Fiscal Year, all Taxable Property within CFD No. 2024-1 shall be classified as Developed Property, Rehab/Remodel Property, Parking Lot Property, or Undeveloped Property and shall be subject to Special Taxes in accordance with the rate and method of apportionment determined pursuant to Sections C and D below.
Developed Property shall be further classified as Residential Property or Non - Residential Property. For Residential Property, the Special Tax will be based on the number of dwelling units as indicated on the building permit. For Non - Residential Property, the Special Tax will be based on the Non -Residential Floor Area or number of Hotel/Motel Rooms. For Rehab/Remodel Property and Parking Lot Property, the Special Tax will be based on the Parcel Square Footage.
City of Placentia December 14, 2023
CFD No. 2024-1 (Old Town Maintenance Services) Page 5
C. MAXIMUM SPECIAL TAX
Land
Use
Class
1 2
3 4
5 6
7 8
9 1.
Developed Property, Rehab/Remodel Property, and Parking Lot Property
a. Maximum Special Tax
The Maximum Special Tax for Fiscal Year 2023-2024 for each Land Use Class is shown below in Table 1.
TABLE 1
Maximum Special Tax for Developed Property, Rehab/Remodel Property, and Parking Lot Property
For Fiscal Year 2023-2024
Description
Single Family Residential Property
Multi -Family Residential Property
Non -Retail Commercial Property
Retail Commercial Property
Office Property
Industrial Property
Hotel/Motel Property
Rehab/Remodel Property
Parking Lot Property
$0.2996 per
$0.2074 per
$0.2996 per
$0.2996 per
Maximum Special Tax
$318.00 per dwelling unit
$293.00 per dwelling unit
square foot of Non -Residential Floor Area
square foot of Non -Residential Floor Area
square foot of Non -Residential Floor Area
square foot of Non -Residential Floor Area
$230.00 per Hotel/Motel Room
$0.0765 per Parcel Square Foot
$0.0665 per Parcel Square Foot
b. Increase in the Maximum Special Tax
On each July 1, commencing on July 1, 2024, the Maximum Special Tax for Developed Property, Rehab/Remodel Property, and Parking Lot Property shall be increased based on the percentage change in the Consumer Price Index with a
maximum annual increase of six percent (6%) and a minimum annual increase of two percent (2%) per Fiscal Year.
c. Multiple Land Use Classes
City of Placentia December 14, 2023
CFD No. 2024-1 (Old Town Maintenance Services) Page 6
In some instances, an Assessor's Parcel of Developed Property may contain more than one Land Use Class. The Maximum
Special Tax for such Assessor's Parcel shall be the sum of the Maximum Special Tax for all Land Use Classes located on that Assessor's Parcel. The CFD Administrator's allocation to each type of property shall be final.
2. Undeveloped Property and Existing Building/Structure Property The Special Tax shall not be levied on Undeveloped Property and Existing Building/Structure Property not classified as Rehab/Remodel Property or Parking Lot Property.
D. METHOD OF APPORTIONMENT OF THE SPECIAL TAX
Commencing with Fiscal Year 2023-2024 and for each following Fiscal Year, the Council shall determine the Special Tax Requirement for Services and shall levy the Special Tax until the total Special Tax levy equals the Special Tax Requirement for Services. The Special Tax shall be levied each Fiscal Year as follows:
The Special Tax shall be levied Proportionately on each Assessor's Parcel of Developed Property, Rehab/Remodel Property, and Parking Lot Property at up to 100% of the Maximum Special Tax.
E. EXEMPTIONS
No Special Tax shall be levied on Public Property, Property Owner Association Property, or any Assessor's Parcel that has a Welfare Exemption. However, should an Assessor's Parcel no longer be classified as Public Property, Property Owner Association Property, or have a Welfare Exemption, its tax- exempt status will, without the necessity of any action by the Council, terminate.
F. PREPAYMENT OF SPECIAL TAX
Prepayment of the Special Tax is not authorized.
G. APPEALS/INTERPRETATION
Any landowner or resident may file a written appeal of the Special Tax levied on his/her property with the CFD Administrator, provided that the appellant is current in his/her payments of Special Taxes. During the pendency of an appeal, all Special Taxes previously levied must be paid on or before the payment date established when the levy was made. The appeal must specify the reasons why the appellant claims the Special Tax is in error. The CFD City of Placentia December 14, 2023
CFD No. 2024-1 (Old Town Maintenance Services) Page 7
Administrator shall review the appeal, meet with the appellant if the CFD Administrator deems necessary, and advise the appellant of its determination.
If the CFD Administrator agrees with the appellant, the CFD Administrator shall eliminate or reduce the Special Tax on the appellant's property and/or provide a refund to the appellant. If the CFD Administrator disagrees with the appellant and the appellant is dissatisfied with the determination, the appellant then has 30 days in which to appeal to the Council by filing a written notice of appeal with the Council, provided that the appellant is current in his/her payments of Special Taxes. The second appeal must specify the reasons for the appellant's disagreement with the CFD Administrator's determination. The CFD Administrator may charge the appellant a reasonable fee for processing the appeal.
Interpretations may be made by the Council by ordinance or resolution for purposes of clarifying any vagueness or ambiguity in this Rate and Method of Apportionment.
H. MANNER OF COLLECTION
The Special Tax will be collected in the same manner and at the same time as ordinary ad valorem property taxes; provided, however, that CFD No. 2024-1 may directly bill the Special Tax, may collect Special Taxes at a different time or in a different manner if necessary to meet its financial obligations, and may covenant to foreclose and may actually foreclose on delinquent Assessor's Parcels as permitted by the Act.
I. TERM OF SPECIAL TAX
The Special Tax shall be levied as long as necessary to meet the Special Tax Requirement for Services.
City of Placentia December 14, 2023
CFD No. 2024-1 (Old Town Maintenance Services) Page 8
APPENDIX C
Fiscal Year 2024-2025
Administration Report
City of Placentia
Community Facilities District No. 2024-1
(Old Town Maintenance Services)
SPECIAL TAX ROLL,
FISCAL YEAR 2024-2025
DTA Municipal Solutions 5/29/2024
Appendix C
City of Placentia
Community Facilities District No. 2024-1
(Old Town Maintenance Services)
FY 2024-2025 Special Tax Levy
Assessor's Parcel Number FY 2024-2025 Special Tax
339-052-27 $1,062.59
Total Number of Parcels Taxed 1
Total FY 2024-2025 Special Tax $1,062.59
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