PRESENTATIONS
Item No. 1
PRESSURE ZONE CHANGE PROJECT - AREA 7
CC25-027
Review and Consideration of Construction Contract Award and Approval of Notice of Exemption
C I T Y C O U N C I L M E E T I N G
F E B R U A R Y 4 , 2 0 2 5
Victorville Water District
PRESSURE ZONE CHANGE PROJECT - AREA 7
Existing Infrastructure
• 700 miles of pipeline
• 34 active groundwater wells
• 24 active storage reservoirs
• 4 booster pump stations
• Booster pump stations pump water into higher zones without wells and increase supply reliability
• 25 active pressure reducing valve stations (PRV)
• PRVs regulate flow from higher pressure zones to lower pressure zones Zone
2906
Zone
3065
Zone
3170
Zone
3170
Zone
3290
Zone
3820
Zone
3485
Zone
3675
Where potable water comes from ?
• Main water supply is pumped from groundwater in the Mojave River Basin (Basin) • Also, from MWA’s Regional Recharge and Recovery Project (R3), when available.
Why different pressure zones ?
Victorville Water District
PRESSURE ZONE CHANGE PROJECT - AREA 7
Zone
2906
Zone
3065
Zone
3170
Zone
3170
Zone
3290
Zone
3820
Zone
3485
Zone
3675
Areas master planned
to be rezoned
Recommended Improvements from 2019 Water Master Plan Update • The 2019 Water Master Plan Update recommends rezoning certain areas to ensure adequate fire flows and pressures.
Typical Water Flow
Zone 3170
Zone 3290
ELEV: 3290 FT--
--ELEV: 3170 FT
Tanks in Zone 3290 are 120 ft higher, which adds 50 psi:
An existing operational pressure of 40 psi would increase to 90 psi
An existing operational pressure of 50 psi would increase to 100 psi
15 MG
12.5 MG
15 PROJECT AREA
PRESSURE ZONE CHANGE PROJECT - AREA 7
Zone 7
Area 7
PROJECT SCOPE
GOAL E: INVEST IN INFRASTRUCTURE - STRATEGIC PLAN 2023-2026 • Project consists of reconfiguring the existing water
system and transitioning the project area from
pressure Zone 3170 to zone 3290 to address deficient
pressure and inadequate fire flow in the Square Mile
Area (Zone 7).
PRESSURE ZONE CHANGE PROJECT - AREA 7
• Service area pressure will increase from 35/40 psi to approximately 80/90 psi • 440 Individual pressure regulators to be installed on all service laterals to protect plumbing of existing homes and commercial buildings
Area 7
BID AMOUNTCONTRACTOR
$ 2,011,621.00Hemet, dba Genesis Construction
$ 2,600,230.00TK Construction
$ 2,925,821.00Big Ben Construction
$ 2,973,951.50High Desert Underground Inc.
$ 3,447,250.00Mike Bubalo Construction
PRESSURE ZONE CHANGE PROJECT - AREA 7
BIDS RECEIVED
ENGINEER’S ESTIMATE: $ 1,800,000 - $ 2,000,000
END OF PRESENTATION
Questions?
Item No. 2
February 4, 2025
Southern California Logistics Airport Authority
Tax Allocation Refunding Bonds
Series 2025A
| 2
Financing Team Consultants
Southern California Logistics Airport Authority
Tax Allocation Refunding Bonds, Series 2025A
Municipal
Advisor Urban Futures, Inc. Wing-See Fox, Managing Director Fiscal
Consultant Harris & Associates Dima Galkin, Director
Bond &
Disclosure
Counsel
Stradling Yocca Carlson &
Rauth Vanessa Legbandt, Shareholder
Underwriter Raymond James &
Associates, Inc.
Emily Giles, Managing Director
Jose Vera, Managing Director
Victor Andrade, Managing Director
| 3
Executive Summary
Victor Valley Economic Development Authority (“VVEDA”) i s a joint exercise of powers authority formed by the County of San Bernardino, City of Hesperia, City of Victorville, City of Adelanto, and Town of Apple Valley (“VVEDA Members”) to finance and refinance redevelopment activities at the Southern California Logistics Airport (“Airport”)
VVEDA Project Area includes the former George Air Force Base parcels (“SCLA par
cels”), which now make up the Airport, and parcels “in proximity” to the SCLA parcels
The VVEDA Project area parcels that are “in proximity” are located within various V
VEDA Member jurisdictional boundaries
VVEDA delegated its decision-making authority with respect to the Airport to the S
outhern California Logistics Airport Authority (“SCLAA”), including the authority to issue bonds secured by tax increment revenues generated in the VVEDA Project Area
SCLAA was originally formed by agreement of the City and the former Victorville R
edevelopment Agency (“Agency”)
When the Agency was dissolved by statute in 2012, the City and the Victorville W
ater District entered into an agreement to add the Victorville Water District as a member of SCLAA (“SCLAA JPA Amendment”)
The Successor Agency to the Victorville Redevelopment Agency now proposes to appr
ove, ratify and consent to the SCLAA JPA Amendment
| 4
Executive Summary
SCLAA previously issued 5 series of tax allocation bonds that are currently callable without penal
ty (“Refunded Bonds”)
The Dissolution Act allows tax allocation bond refundings for debt service savings Savings benefit taxing entities, including the City
In the current market, significant savings can be achieved issuing 2025 Bonds to refund the 5 series of tax allocation bonds
5 series of tax allocation bonds (“Senior Bonds”) that have make-w hole calls will remain outstanding and will have a senior lien on tax increment revenues generated in the VVEDA Project Area (after payment of County administrative costs, pass-through obligations, and certain other VVEDA obligations)
The 2025 Bonds will be secured by tax increment revenues (subordinate to the Senior B
onds) generated in the VVEDA Project Area
100% of tax increment from SCLA parcels
VVEDA’s share of tax increment generated within VVEDA Member Agency parcels City of Victorville’s share of tax increment generated in the VVEDA Project area within t
he City’s boundaries
Financing team is investigating whether cash-f unded debt service reserve funds of certain outstanding Senior Bonds can be replaced with surety policies (“Reserve Policy Substitution”), apply released cash to defease Refunded Bonds, thus lowering principal amount of 2025 Bonds and increasing overall cash flow savings | 5
VVEDA Project Area
VVEDA adopted its original Redevelopment Plan on
D
ecember 28, 1993
Amended on July 12, 2000 (“Fourth Amendment
A
dded Area”), adding City of Adelanto and
certain areas
Amended on December 20, 2006 (“Eighth
A
mendment Added Area”), adding areas within
Adelanto, Victorville, Apple Valley and the
County
The VVEDA Project Area consists of approximately
8 5,128 acres, which includes residential,
commercial/industrial, and vacant land
Bonds secured by property tax increment generated in
t
he VVEDA Project Area were issued to fund projects:
Airport Improvements
Municipal Utilities and Public Improvements
Intermodal Rail Development
Low and Moderate Income Housing Programs
Top 10 taxpayers account for 13.70% of total AV as of FY 2 024-2025
High D esert Power Trust is Top Owner
Assessed Valuation has grown significantly since Base Y
ear 1997-98:
Total AV: $3 .8 billion $14.5 billion (+282.9%)
Incremental AV: $ 10.7 billion
| 6
SCLAA Bond Debt Service
| 7
Transaction Results*
Total Gross Savings: $24,105,657
Average Annual Gross Savings:
$1,305,231
Total NPV Savings: $6,747,386
Total NPV Savings: 6.8%
Significant Savings to Taxing
Entities
City General Fund Savings:
$2,808,266 Gross
Other Taxing Agencies Savings:
$21,297,391 Gross
*Market Conditions as of January 6, 2025. Preliminary
and subject to change. Savings take into account
approximately $696,500 costs of issuance (including
underwriter’s discount but excluding bond insurance and reserve policy premiums). Except for Fiscal Consultant and Rating Agency Fees, costs of issuance are
contingent on the bond sale and would be paid from
2025 Bond proceeds.
Summary of Estimated Refunding Results
Note: Tax entity breakdown per average from 2021-22 through 2024-25 Combined Tax Rolls for VVEDA collected from San Bernardino County.
City of
Victorville
(11.6%)
Other Cities
(1.3%)
Counties
(14.5%)
Special
Districts
(8.6%)
K-12 Schools
(34.9%)
Community
Colleges
(6.4%)
County
Office of
Education
(1%)
Total ERAF
(21.7%)
VVEDA Taxing Agencies % of Savings
City of Victorville (11.6%) Other Cities (1.3%)
Counties (14.5%) Special Districts (8.6%)
K-12 Schools (34.9%) Community Colleges (6.4%)
County Office of Education (1%) Total ERAF (21.7%)
| 8
City Council, SCLAA, and Successor Agency Actions
City Council Hold Public Hearing and Adopt Resolution Approving issuance of the 2025 Bonds (NTE $105M*)
Pledging City’s share of tax increment revenues
Making a finding that there are significant public benefits to the citizens of the City through the issuance of the 2025 Bonds
SCLAA Adopt Resolution
Authorizing issuance of the 2025 Bonds (NTE $105M*)
Adopting the City’s Debt Management Policy
Appointing and Retaining the Financing Team
Authorizing the Reserve Policy Substitution
Approving all documents and actions needed to authorize the issuance and sale of 2025 Bonds
o Form of Indenture of Trust
o Form of Escrow Agreement
o Form of Bond Purchase Agreement
Successor Agency Adopt Resolution
Approving, ratifying, and consenting to the SCLAA JPA Amendment adding Victorville Water District as a member of SCLAA
*NTE amounts include cushion in case certain assumptions are not realized. Only the amount needed to refund the Refunded Bonds, to pay for costs of issuance, and to fund a debt service reserve fund will be issued. | 9
Financing Schedule
Date Activity
Tuesday, February 4 Public Hearing/SCLAA and City approval of bond issuance and legal documents
Thursday, February 13 VVEDA approval of bond issuance
Thursday, March 6 Countywide Oversight Board Meeting approval of bond issuance
Week of April 14 S&P Credit Rating Presentation
Tuesday, April 15 SCLAA meeting to approve POS
Week of April 28 (Estimated) DOF Approval of Oversight Board Action Tuesday, May 7 Receive Rating
Week of May 12 Post Preliminary Official Statement
Week of May 19 Pricing of Bonds
Week of June 2 Closing
| 10
Conflicts of Interest and Other Matters Requiring Disclosures. Pursuant to Municipal Securities Rulemaking Board (“MSRB”) Rule G-42, on Duties of Non-Solicitor Municipal Advisors, Municipal Advisors are required to make certain written disclosures to clients which include, amongst other things, Conflicts of Interest and any Legal or Disciplinary events of Isom Advisors, a division of Urban Futures, Inc. (UFI) and its associated persons.
The following are potential conflicts of interest to be considered. • UFI r epresents that in connection with the issuance of municipal securities, UFI may receive compensation from an Issuer or Obligated Person for services rendered, which compensation is contingent upon the successful closing of a transaction and/or is based on the size of a transaction. Consistent with the requirements of MSRB Rule G-42, UFI hereby discloses, that such contingent and/or transactional compensation may present a potential conflict of interest regarding UFI's ability to provide unbiased advice to enter into such transaction. The contingent fee arrangement creates an incentive for UFI to recommend unnecessary financings or financings that are disadvantageous to the client, or to advise the client to increase the size of the issue. This potential conflict of interest will not impair UFI's ability to render unbiased and competent advice or to fulfill its fiduciary duty to the client.
• UFI f ees under this potential agreement may be based on hourly fees of UFI's personnel, with the aggregate amount equaling the number of hours worked by such personnel times an agreed-upon hourly billing rate. This form of compensation presents a potential conflict of interest because it could create an incentive for UFI to recommend alternatives that would result in more hours worked. This conflict of interest will not impair UFI's ability to render unbiased and competent advice or to fulfill its fiduciary duty to its clients.
• UFI's f ees under this potential agreement, may be a fixed amount established at the outset of the Agreement. The amount is usually based upon an analysis by the client and UFI of, among other things, the expected duration and complexity of the transaction and the Scope of Services to be performed by UFI. This form of compensation presents a potential conflict of interest because, if the transaction requires more work than originally contemplated, UFI may suffer a loss. Thus, UFI may recommend less time-consuming alternatives, or fail to do a thorough analysis of alternatives. This conflict of interest will not impair UFI's ability to render unbiased and competent advice or to fulfill its fiduciary duty to the client.
• The f ee paid to UFI increases the cost of investment to client. The increased cost occurs from compensating UFI for municipal advisory services provided. • UFI s erves a wide variety of other clients that may from time to time have interests that could have a direct or indirect impact on the interests of another UFI client. For example, UFI serves as municipal advisor to other municipal advisory clients and, in such cases, owes a regulatory duty to such other clients. These other clients may, from time to time and depending on the specific circumstances, have competing interests. In acting in the interests of its various clients, UFI could potentially face a conflict of interest arising from these competing client interests. UFI fulfills its regulatory duty and mitigates such conflicts through dealing honestly and with the utmost good faith with its clients.
• UFI does not ha ve any affiliate that provides any advice, service, or product to or on behalf of the client that is directly or indirectly related to the municipal advisory activities to be performed by UFI;
• UFI has not m ade any payments directly or indirectly to obtain or retain its clients municipal advisory business; • UFI has not r eceived any payments from third parties to enlist UFI's recommendation to its clients of its services, any municipal securities transaction or any municipal finance product;
• UFI has not engaged in any fee-splitting arrangements involving UFI and any provider of investments or services to its clients; • UFI does not hav e any legal or disciplinary event that is material to its clients evaluation of the municipal advisory or the integrity of its management or advisory personnel. • UFI does not ac t as principal in any of the transaction(s) related to this Agreement. • Randall Mer ritt, a Managing Principal, previously worked at Raymond James & Associates, Inc. from December 2015 until December 2023. Urban's relationships with Raymond James and all other investment banks are conducted in an arm's length manner, and any recommendations are independent of any prior employment or other relationships.
Legal Events and Disciplinary History. UFI does not have any legal events and disciplinary history on its Form MA and Form MA-I, which includes information about any criminal actions, regulatory actions, investigations, terminations, judgments, liens, civil judicial actions, customer complaints, arbitrations and civil litigation. The District may electronically access UFI’s the most recent Form MA and each most recent Form MA-I filed with the Commission at the following website:
www.sec.gov/edgar/searchedgar/companysearch.html. There have been no material changes to a legal or disciplinary event disclosure on any Form MA or Form MA-I filed with the SEC.
Municipal Advisor Disclosure
Item No. 10
Victorville City Library
14144 Green Tree Boulevard
Victorville, CA 92395
Item No. 12
CITY COUNCIL PRESENTATION FOR
DESIGN SERVICES FOR OLD TOWN
STREETSCAPE IMPROVEMENT
PROJECT NO. JM25-007
Presentation Outline
Project Team
Project Scope | Phases
Similar Projects
Project Schedule
1 2
3 4
Project Team
Project Scope - 4 Phases
Phase 1A
Phase 1B
Phase 1C
Phase II
Phase 1A
PHASE IA – PROGRAMMING &
DUE DILIGENCE ACTIVITIES
TASK 1 - ANALYSIS OF PHYSICAL CONDITIONS
TASK 2 - REVIEW EXISTING PROGRAMING DOCUMENTS
TASK 3 - INITIAL STAKEHOLDER ENGAGEMENT, INCLUDING CITY STAFF TASK 4 - INITIAL DESIGN SOLUTIONS TO CITY STAFF
Phase 1B
PHASE IB – CONCEPTUAL
PLAN DEVELOPMENT
TASK 1 - CITY STAFF MEETINGS
TASK 2 - IDENTIFY GRANT OPPORTUNITIES
TASK 3 - STANDARD DETAILS
TASK 4 - DESIGN CONCEPTS - STREET IMPROVEMENTS
TASK 5 - DESIGN CONCEPTS – LIGHTING
TASK 6 - DESIGN CONCEPTS – LANDSCAPING
TASK 7 - DESIGN CONCEPTS - LOW VOLTAGE
TASK 8 - DESIGN CONCEPTS – PLACEMAKING
TASK 9 - DESIGN CONCEPTS – PARKING
TASK 10 - COST ESTIMATES
TASK 11 - PUBLIC MEETINGS
Phase 1C
PHASE IC – FINAL
CONSTRUCTION PLANS
TASK 1 - FINAL CONSTRUCTION PLANS -
STREET IMPROVEMENTS
TASK 10 - DRAINAGE STUDY
TASK 2 - FINAL CONSTRUCTION PLANS -
LIGHTING
TASK 11 - GRADING PLANS
TASK 3 - FINAL CONSTRUCTION PLANS -
LANDSCAPING
TASK 12 - STANDARD DETAILS AND
SPECIFICATIONS
TASK 4 - FINAL CONSTRUCTION PLANS -
LOW VOLTAGE
TASK 13 - LIGHTING STUDIES AND
PHOTOMETRIC PLAN
TASK 5 - FINAL CONSTRUCTION PLANS -
PLACEMAKING
TASK 14 - COMPLETE COST ESTIMATES
TASK 6 - FINAL CONSTRUCTION PLANS -
PARKING
TASK 15 - CITY STAFF MEETINGS
TASK 7 - CIVIL IMPROVEMENT PLANS TASK 16 - PUBLIC MEETINGS TASK 8 - TRAFFIC SIGNAL IMPROVEMENT
PLANS
TASK 17 - COMPLETE SET OF FINAL
DESIGN DEVELOPMENT DOCUMENTS
TASK 9 - UTILITY PLANS TASK 18 - PLAN CHECK TO PERMIT
ISSUANCE
Phase II
PHASE II – PROJECT
ADMINISTRATION SERVICES
AND SUPPORT (OPTIONAL)
TASK 1 - PROJECT ADMINISTRATION SERVICES (OPTIONAL)
Task 1.1 - Oversight of Project Bid Process
Task 1.2 - Coordinate Between Contractor and the City
Task 1.3 - Attend Construction Meetings
Task 1.4 - Conduct Site Visits as necessary during Construction Similar Projects
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• Addition of Green Streets Infrastructure (i.e., Silva Cells) • Undergrounding of Exiting Overhead Utilities
Before
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• Streetscape design created to
unify public realm with street
trees, paving, art, and site
furniture
• Worked with existing developers,
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• Worked with existing developers, property
owners, businesses to craft a vision that
expressed the history of this auto-centric
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OLD TOWN CALABASAS
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PROJECT, CALABASAS, CA
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toolkit for implementation
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Project Schedule
Conceptual
Plan
Development
Completed
Summer/Fall 2025
Final
Construction
Plans
Completed
Notice To
Proceed and
Initial
Stakeholder
Engagement
Spring 2025
Winter 2025/2026
THANK YOU!