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Home My WebLink AboutAGENDA REPORT 1992 0506 CC REG ITEM 08Q • PapPM e- EM 8. Q • F� ,� MOORPARI� • o � 799 Moorpark Avenue Moorpark, California 93021 (805) 529-6864 ao9�fo MOORPARK, CALIFC?,; CttyCou Meeting MEMORANDUM of S 6 199 Z ACTION: !!J 4' TO: The Honorable City Council FROM: Steven Kueny, City Manager ,'v By 4,447-40406.4".— DATE: May 1, 1992 SUBJECT: Deferral of Gabbert/Casey Road Area of Contribution (AOC) Fees for Tract 4081 (Colmer) In late 1989 the new owner of Tentative Tract Map 4081, Colmer Development Company, worked with the City to make adjustments to the map before it was allowed to be recorded. This effort resulted in modification to conditions of approval, adjustment of lot configuration, identification of building pads and creation of private streets in place of public streets. One of the specific adjustments resulted in the deferral of the payment of Gabbert/Casey Road AOC fees until issuance of the first building permit. The City inadvertently failed to collect the referenced AOC fees prior to issuance of the first building permit. A total of four (4) building permits have been issued on the project. The developer has indicated that he does not currently have the funds to pay the AOC fees. I have discussed with him the possibility of further deferral of the AOC with accrued interest. The developer has agreed to accept the inclusion of accrued interest and has asked for up to 150 days to make the payment. I recommend the deferral with the inclusion of monthly compounded accrued interest based on the monthly Local Agency Investment Fund (LAIF) earnings rate with payment to occur upon the close of escrow of the next lot in Tract 4081 or August 31, 1992 , whichever first occurs. The deferral with monthly compounded accrued interest will not impact the Gabbert/Casey Road AOC since there is no immediate plan to spend AOC funds and it will have earned interest in the same amount as if funds had been in the City's treasury. Staff Recommendation Authorize deferral of Gabbert/Casey Road AOC fees for Tract 4081 with the inclusion of monthly compounded accrued interest until the next close of escrow of a lot or August 31, 1992 , whichever first occurs. C:Colmer.mem PAUL W. LAWRASON JR. JOHN E.WOZNIAK SCOTT MONTGOMERY BERNARDO M.PEREZ ROY E.TALLEY JR. Mayor Mayor Pro Tem Councilmember Councilmember Councilmember Printed On Recycled Paper COLMER DEVELOPMENT • Q. company 23875 Ventura Boulevard . Suite 201B . Calabasas. CA 91302 . (818) 222-5666 . FAX (818) 222-5668 April 7 , 1992 Mr. Steve Kueny FAXED TO (805) 529-8270 City Manager CITY OF MOORPARK 799 Moorpark Avenue Moorpark, CA 93021 RE: Tract 4081 Gabbert/Casey Road Contribution Fees Dear Mr. Kueny: I very much appreciate your cooperation to consider deferral of the A.O.C. fees I owe. I agree to accept increasing my obligation to include accrued interest until the amount I owe is paid. At the current time there are three lots that are unsold at Orchard Downs. I had planned on paying the City from escrow proceeds on a lot sale that was in escrow. Since we talked on the phone, that escrow has cancelled and I will now have to resell the property. I request that I be allowed up to 150 days to make this payment. I cannot attend the meeting on April 15th, and if my presence is needed I would request that consideration of this matter be postponed until the following meeting. Thank you very much for your cooperation. Since , 11%/41, Wayn7` olmer WC/ c pi-02,priThriAgfaii, APR 8 1992 CITY OF MOORPARK OFFICE OF CITY MANAGER J• �___-; -° � ;� MOORPARK — ' .,-',-k-*.-:::._,:;,.. 1 , .,..r.:._.c_ V::-:,\--1,;,:„. 799 Moorpark Avenue Moorpark, California 93021 (805) 529-6864 FAXED & MAILED 4-1-92 April 1 , 1992 Mr. Wayne Colmer Colmer Development Company 23875 Ventura Blvd. , Suite 201-B Calabasas, CA 91302 Subject : Tract 4081 Gabbert/Casey Road Area of Contribution (AOC) Fees Dear Mr. Colmer: On' March 3 , 1992 , we discussed your failure to pay the referenced AOC Fees. We concurred that the Fees were due in full at the time the first building permit was pulled for a lot within Tract 4081. This is consistent with your letter of January 2 , 1989 (sic January 2 , 1990) and my letter of January 9, 1990. During our March 3 , 1992 telephone conversation, you indicated that while the Fees were in fact due and payable, you could not make payment for an estimated 60-90 days. You concurred that you should pay interest for the period since the first building permit was pulled. The first building permit was pulled on April 8 , 1991 . I suggested using the State Local Agency Investment Fund (LAIF) as an easy and fair way to calculate the City ' s percentage of earnings on its idle funds . LAIF is the City ' s largest source for investment and it provides a monthly percentage rate of earnings. The following table illustrates the amount the City would have earned on the base amount of $27 , 300 from April 8 , 1991 through February 29, 1992 . DATE DAYS LAIF PRINCIPAL INTEREST BAL. OWED RATE 4/8/91 23 7 . 666 27 , 300 . 00 133 . 71 27 , 433 . 71 5/91 31 7 . 374 27 , 433 . 71 174 . 20 27 , 607 . 91 6/91 30 7. 169 27, 607 . 91 164 . 93 27 , 772 .84 7/91 31 7. 098 27 , 772 . 84 169. 75 27 , 942 . 59 8/91 31 7 . 072 27 , 942 . 59 170. 16 28 , 112 . 76 PAUL v/ LAWRASON JR JOHN E WOZNIAK SCOTT MONTGOMERY BERNARDO M.PEREZ ROY E TALLEY JR. Mayor Mayor Pro Tern Councilmember Councilmember Councilmember PrintedOnRecycled Par, Mr. Wayne Colmer April 1 , 1992 Page 2 DATE DAYS LAI= PRINCIPAL INTEREST RATE 9/91 30 6 . 859 28 , 112 . 76 160. 69 0 , 273 . 45 10/91 31 6. 719: 28, 273 . 45 163 . 58 28 , 437 . 33 11/91 30 6 . 591 28 , 437 . 03 156. 19 28 , 593 . 22 12/91 31 6 . 318 28, 593 . 22 155. 56 28 , 748 . 78 1/92 31 6 . 122 28 , 748 . 78 151. 56 28 , 900 . 34 2/92 29 5 . 863 28, 900. 34 136. 50 129 , 036. 33 Interest would continue to accrue, calculated on _AIF earnings, until the arount owed is paid. As you know, I do not have the authority to approve hLs deferral. The action must be approved by the City Council. I propose to place this matter on the April 15, 1992 Col=ncil agenda. I request that you respond in writing concerii-•c this matter by April 6, 1992 . If you have any questions concerning this, please call me. Sincerely, Steven Kueny City Manager SK:sc 3251. tem MOORPARK 799 Moorpark Avenue Moorpark, California 93021 (805) 529-6864 February 14, 1992 Mr. Wayne Colmer Colmer Development Company 23875 Ventura Blvd., Suite 201 -B Calabasas, Ca, 91302 Dear Mr. Colmer, I would like to bring to your attention that the Gabbert/Casey Road Area of Contribution (AOC) Fees for Tract 4081 were due and payable in full at the time the first building permit was pulled for construction of homes in the tract, or the subdivision improvements received final City approval, whichever came first (see attached letter from you to the City Manager dated January 2, 1989). Inasmuch as the first residential building permits were issued in April 1991 the AOC fees in the amount of $ 27,300 are now overdue. Please submit the required fees by February 28, 1992. Your cooperation is appreciated. If you have any questions please call me at (805) 529-6864. Thank you. Sincerely,.� inc Craig Malin, Assistant Planner Attachment cc: Steve Kueny, City Manager Patrick J. Richards, Director of Community Development Tr 4081 File, Misc. Corr. section PAUL W. LAWRASON JR. JOHN E.WOZNIAK SCOTT MONTGOMERY RERNARDO M.PEREZ ROY E.TALLEY JR. Mayor Mayor Pro Tem Councilmember Councilmemter Councienember • Il4 . 7q MOORPARK • PAUL W. LAWRAS:,�:, .. ctr=err-ry vi IRMV Marx o �o City Manager SCOTT MONTGOMERY s�A4 CHERYL J. KANE Mayor Pro Tem ire%�� City Attorney ELOISE BROWN crati PATRICK RICHARDS,A.I.C.P. Coundlmember Director of elCUNT HARPER, Ph.D. Community Development Councilmember �''` R. DENNIS DELZEIT City Engineer BERNARDO M. PEREZ JOHN V. GILLESPIE Coundlmember Chief of Police LILLIAN KELLERMAN RICHARD T. HARE City Clerk City Treasurer January 9, 1990 Mr. Wayne Colmer • Calmer Development Company 23875 Ventura Blvd. , Suite 201-B Calabasas, CA 91302 Dear Mr. Colmer: This will confirm that the Gabbert/Casey Road Area of Contribution (AOC) Fees for Tract 4081 are due and payable in full at the time the first buildng permit is pulled for constructon of a home in the Tract or the subdivision improvements receive final City approval, whichever occurs first. The Los Angeles Avenue AOC Fees and Traffic Mitigation Fees have been paid prior to recordation. Your cooperation in working out a compromise on the timing of fee payments is appreciated. I am returning the enclosed check, No. 433 from Colmer Development Company, • which had been submitted by you for payment of the referenced Gabbert/Casey Road AOC Fees for Tract 4081. Very truly yours, Steven Kueny City Manager SK:sc 90192 Enclosure cc: The Honorable City Council Patrick Richards, Director of Community Development Dave Baird, Building Official Wayne Boyer, Finance Officer, w/enclosure John Knipe, Assistant City Engineer- ._ -- --- - 799 Moorpark Avenue Moorpark, California 93021 - (805) 529-6864 :comp. y . • January 2 , 1989 ,i. Mr. Steve Kueny City of Moorpark • 799 Moorpark Avenue Moorpark, CA 93021 Re: Tract 4081 Dear Mr. Kueny: This will confirm our agreement that the Gabbert Road A.O.C. in the amount of $27 , 300 shall be deferred and payable in full at the time first building permit is pulled for the construction of a home or the subdivision improvements receive final City approval . Sincerely, • COLMER DEVELOPM T CO. . Wayn= olmer Pr= . dent i'/mk