everything you wanted to know about sfd’s but were afraid to ask 1 everything you wanted to know...
TRANSCRIPT
EVERYTHING You Wanted to know about SFD’sBut Were Afraid to Ask 1
EVERYTHING You Wanted to know about SFD’sBut Were Afraid to Ask
EVERYTHING YOU WANTED TO KNOW ABOUT
SPECIAL ASSESSMENTS AND TAXES IN 2015 BUT WERE AFRAID TO ASK
By Tim Seufert
EVERYTHING You Wanted to know about SFD’sBut Were Afraid to Ask 2
Primer on Special Financing Districts-SFD: Special Assessments and Taxes
Sample current reporting requirements
AB 2109 new reporting requirements Q&A
AGENDA ITEMS
2
EVERYTHING You Wanted to know about SFD’sBut Were Afraid to Ask 3
“A man’s ignorance sometimes is not only beautiful, but useful – while his knowledge, so called, is oftentimes worse than useful, besides being ugly...
SOME PERSPECTIVE
3
EVERYTHING You Wanted to know about SFD’sBut Were Afraid to Ask 4
Which is the best man to deal with -- he who knows nothing about a subject, and, what is extremely rare, knows that he knows nothing, or he who really knows something about it, but thinks he knows it all? “
- Henry David Thoreau
SOME PERSPECTIVE
4
EVERYTHING You Wanted to know about SFD’sBut Were Afraid to Ask 5
EVERYTHING You Wanted to know about SFD’sBut Were Afraid to Ask
THE PRIMER ON SPECIAL FINANCING
DISTRICTS (SFD)
5
EVERYTHING You Wanted to know about SFD’sBut Were Afraid to Ask 6
WHAT ARE SFD’S?
Parcel taxes CFDs Special Assessments Property-related Fees
6
EVERYTHING You Wanted to know about SFD’sBut Were Afraid to Ask 7
LEGISLATIVE AND LEGAL UPDATE / TRENDS
2/3 approval for parcel taxes and CFDs
Note: CFD Shapiro San Diego case… Special Assessments still viable Property-related Fees All the buzz about EIFD, or TIF?
7
EVERYTHING You Wanted to know about SFD’sBut Were Afraid to Ask 8
SPECIAL FINANCING DISTRICTS – SPECIAL ASSESSMENTS AND TAXES
Courts looking over our shoulders… Best practices for assessment
engineering Be creative and selective in
feasibility analysis…
8
EVERYTHING You Wanted to know about SFD’sBut Were Afraid to Ask 9
SPECIAL FINANCING DISTRICTS – SPECIAL ASSESSMENTS AND TAXES
Pay as you go? Leverage infrastructure with
debt?
9
EVERYTHING You Wanted to know about SFD’sBut Were Afraid to Ask 1
0
SPECIAL FINANCING DISTRICTS – SPECIAL ASSESSMENTS AND TAXES
Forms of Debt Municipal bonds Bank loans State Revolving Fund (SRF) i-Bank City/County funds Other/private placement
10
EVERYTHING You Wanted to know about SFD’sBut Were Afraid to Ask 1
111
SPECIAL ASSESSMENT – CASE STUDY: BURLINGAME – DOWNTOWN IMPROVEMENTS
Downtown Burlingame Avenue years of deterioration
Funding challenges
Disparate interests coalesce
EVERYTHING You Wanted to know about SFD’sBut Were Afraid to Ask 1
212
SPECIAL TAX / CFD – CASE STUDY: PACHECO VALLE / CITY OF NOVATO
Community led effort
CFD tax on area parcels
95% voter approval
EVERYTHING You Wanted to know about SFD’sBut Were Afraid to Ask 1
313
PARCEL TAXES:SANTA CLARA VALLEY WATER DISTRICT, MARIN EMERGENCY RADIO AUTHORITY, GREATER VALLEJO RECREATION DISTRICT
Focused needs EXTENSIVE
outreach was key
EVERYTHING You Wanted to know about SFD’sBut Were Afraid to Ask 1
4
REPORTING REQUIREMENTS: TODAY R&T Code 163 for Assessments: parcel
number, original assessment and current principal balance to the County Assessor
CDIAC Reporting for Bonded CFD’s – Government Code §53359.5(b) and §53359.5(c)
SB 165/Government Code 50075.1 – Enacted after January 2001require “annual report”
Plus existing SCO reporting…???
14
EVERYTHING You Wanted to know about SFD’sBut Were Afraid to Ask 1
5
REPORTING REQUIREMENTS: TOMORROW? AB 2109: Who, what, when?
Who? Each County, City, and Special District. (School Districts?)
With a “parcel tax?” Includes CFD’s?
15
EVERYTHING You Wanted to know about SFD’sBut Were Afraid to Ask 1
6
AB 2109 DRAFT SCO DECISION TREE:
Decision Tree for Determining “Parcel Taxes” Subject to AB 2109 Reporting
Yes
Yes
Yes
Yes
Yes
No Reporting is needed
16
EVERYTHING You Wanted to know about SFD’sBut Were Afraid to Ask 1
7
AB 2109: What? 1. “Type” and “Rate” of parcel tax2. Number of parcels subject/Number
exempt3. Sunset date of tax, if any4. Amount of revenue received5. Manner in which revenue used
17
EVERYTHING You Wanted to know about SFD’sBut Were Afraid to Ask 1
8
AB 2109: When?
2015? Or so?
18
EVERYTHING You Wanted to know about SFD’sBut Were Afraid to Ask 1
9
ADDITIONAL RESOURCES
League Municipal Revenue Handbook NBS Rate/Fee Compendium
Compendium NBS SFD Primer League/CSDA
Prop 218 Guides Guide To Local
Government Finance in California
The Simpsons! Etc.
19