View Agenda Item

Back to View Meetings Back to Agenda

AGENDA ITEM #: 12.
DATE: 06/21/2021
AI #:286

COMMUNITY FACILITIES DISTRICT REPORT

SUBJECT:

ESTRELLA MOUNTAIN RANCH CFD MONTECITO #2 ASSESSMENT MODIFICATION

STAFF PRESENTER(S):

Jared Askelson, Deputy Finance Director

SUMMARY

In June 2020 and October 2020, parcels within the Montecito Assessment District No. 2 were subdivided into a total of 176 lots. If approved by the Board, Resolution No. EMRCFD RES 2021-139 will reallocate the existing assessment among those 176 lots and the remaining undivided area.

Recommendation

ADOPT RESOLUTION EMRCFD RES 2021-139 APPROVING THE MODIFICATION OF ASSESSMENTS IN ASSESSMENT NUMBER 005-02-043 WITHIN THE MONTECITO ASSESSMENT DISTRICT NO. 2. (Jared Askelson, Deputy Finance Director)

FISCAL IMPACT

This action reallocates the original assessment amount of $2,345,464.40 in Assessment Number 005-02-043 with no additional impact. The assessment will be allocated across 176 lots in the amount of $5,805.61 per lot. The remaining $1,323,677.10 will be allocated in total to the remaining property within the modification area.

Approval of the assessment modification will assign new assessment numbers and amounts as follows:

Original Assessment Number	Original Assessment Amount
005-02-043	$2,345,464.40

New Assessment Numbers	New Assessment Amounts
005-03-001 through 005-03-176	$5,805.61 per lot
005-03-177	$1,323,677.10

BACKGROUND AND PREVIOUS ACTIONS

The final plats for Estrella Parcel 9.22 and 9.24 A&B and Estrella Parcel 9.30, portions of the land covered by assessment number 005-02-043, were approved by the City Council on June 8, 2020. Other assessments within the Montecito Assessment District No. 2 have been similarly modified upon the subdivision of land securing the assessment. This action was initiated by the application and petition for modification filed by NNP III – Estrella Mountain Ranch LLC, Toll Brothers and LGI – Arizona, LLC, the owners of all land subject to assessment 005-02-043

STAFF ANALYSIS

District staff has reviewed the proposed modification of assessment number 005-02-043 and found that it is in compliance with State of Arizona law and the City of Goodyear’s Policy Guidelines and Application Procedures for Community Facilities Districts.

AgendaQuick™