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Agmt10 David Taussig and Associates
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Agmt10 David Taussig and Associates
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Last modified
9/3/2010 12:50:10 PM
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9/3/2010 12:50:09 PM
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Agreement
Contractor Name
David Taussig and Associates
PROJECT NAME
CFD Special Tax Consulting Services One Marina Project
RMP File Number
304.5
Date
9/2/2010
Reso Ref
15047,15048,15049
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<br />Exhibit A <br /> <br />. Bond Sizing and Structure: Coordinate with financial advisor and underwriter regarding <br />structure and sizing of bonds to establish an optimal schedule of bond sales to maximize <br />funding capacity and alleviate cash flow constraints, including an analysis of level and <br />increasing debt service, sales of multiple series of bond issues, use of improvement areas or <br />zones should the City decide to include more than one property owner in any CFD with a <br />separate rate structure, trade-offs between capitalized interest and bond-financed facilities, <br />required reserve funds, and escrowed bond proceeds, if applicable. <br /> <br />As requested, DTA will prepare additional Tax Spreads based on varying land use types, absorption, <br />interest rate, bond phasing and structuring, and other assumptions. DTA cashflows shall provide <br />special tax structures necessary to support proposed financing, with a variety of combinations of tax <br />levels to be applied to various land use types. These cashflows will allow City staff to evaluate <br />alternative special tax scenarios to determine the most politically attractive set of tax rates. DTA may <br />recommend alternative techniques to apportion special taxes to enhance project feasibility. DTA <br />shall prepare tax spread revisions until all parties are satisfied. <br /> <br />Task 5 Rate and Method of Apportionment of Soecial Tax (the Special Tax Formula) <br />Prepare the rate and method of apportionment of the special tax ("RMA"). The RMA will document <br />the special tax formula, maximum special tax rates, classification of property for purposes of the <br />annual levy, the prepayment methodology, etc. All such components of the RMA will be structured so <br />they are consistent with the City's approved CFD policies. The RMA will be designed to adapt to <br />changes in land use, densities and absorption. DTA will also evaluate the need for improvement <br />areas or zones, and if required, develop a separate RMA for each improvement area or zone. <br /> <br />Task 6 Joint Communiw Facilities Agreement and Funding and Acquisition Agreement <br />Review and negotiate Joint Community Facilities Agreements and Funding and Acquisition <br />Agreements with participating publiC agencies and developers. <br /> <br />Task 7 CFD Report <br />Prepare the public report which shall contain a description and estimated cost of the proposed <br />public facilities to be financed by the CFD, estimated bonded indebtedness and related issuance <br />costs and incidental expenses, and an explanation of the special tax apportionment methodology. <br /> <br />Task 8 CFD Boundary Map <br />This task entails the preparation and/or review of the CFD boundary map pursuant to the <br />requirements of the Mello-Roos Act and the San Mateo County (the "County") Recorder's Office, <br />assuming that computerized base maps are provided by Project landowner. The boundary map will <br />describe the property to be subject to the special tax. When finalized, and as requested, DTA will <br />prepare mylar and black line originals of the boundary map and coordinate execution of the <br />signature blocks and recordation. <br /> <br />Task 9 Registrar of Voter's Certification <br />Request from the County Registrar of Voters confirmation of registered voters status residing in the <br />boundaries of the CFD prior to the adoption of the Resolution of Intention (Government Code Section <br />953322). <br /> <br />Task 10 Document Review and Preparation <br />Assist City and its finance team in the preparation and review of legal and bond documents for the <br />formation of the CFD, including Resolution of Intention and Resolution of Formation, and assist <br />participating parties in executing such agreements, as needed. Also provide necessary data and <br />advice to Bond Counsel regarding the implementation of the CFD, including policies which address <br />changes in land uses which occur after district formation, integration of reimbursement programs <br />from the State or other public districts or fee programs. <br /> <br />City of Redwood City (One Marina Project) <br />Special Tax Consulting Services <br /> <br />Page A-2 <br />August 4,2010 <br />
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