RES-2016-128RESOLUTION NO. 2 016 -12 8
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ANAHEIM ESTABLISHING POLICIES OF INTENT
RELATED TO REIMBURSEMENT PROCEDURES
RELATED TO THE CITY OF ANAHEIM COMMUNITY
FACILITIES DISTRICT NO. 08-1 (PLATINUM TRIANGLE)
WHEREAS, the Platinum Triangle comprises approximately 820 acres located at the
confluence of the Interstate 5 and State Route 57 ("SR -57 Freeway") freeways in the City of
Anaheim, County of Orange, State of California, generally east of the Interstate 5 Freeway, west
of the Santa Ana River channel and the SR -57 Freeway, south of the Southern California Edison
easement, and north of the Anaheim City limit. The Platinum Triangle encompasses the Angel
Stadium, the Honda Center, the City National Grove of Anaheim, the Anaheim Regional
Transportation Intermodal Center (ARTIC), and surrounding residential and mixed use
development, light industrial buildings, industrial parks, distribution facilities, offices, hotels,
restaurants, and retail development; and
WHEREAS, the City has developed the City of Anaheim Platinum Triangle
Implementation Plan ("PTIP") for Public Works Backbone Facilities Improvements dated
October, 2007, prepared by KIM Engineering, Inc. (the "Implementation Plan"), and last
updated March 2016, which, among other things, depicts the geographic area within the Platinum
Triangle defined therein as the Core (the "Core") and describes the improvements required to be
constructed as a result of the anticipated development of properties approved within the Platinum
Triangle; and
WHEREAS, the City Council (the "City Council") of the City of Anaheim (the "City")
has formed City of Anaheim Community Facilities District No. 08-1 (Platinum Triangle) (the
"Community Facilities District" or "CFD") under the provisions of the Mello -Roos Facilities Act
of 1982 (the "Act'); and
WHEREAS, the boundaries of the Community Facilities District includes all of the
property in the Core; and
WHEREAS, the City Council issued Bonds in order to build the Core Improvements in a
manner that utilizes economies of scale, minimizes disruption to existing businesses and
provides flexibility to determining the order of construction in concert with the pace of planned
development; and
WHEREAS, recent development patterns suggest that actual densities within the
Platinum Triangle may end up being less than the densities approved in 2010 or may be realized
a later date in a different location than originally addressed by the Implementation Plan; and
WHEREAS, the above possible change in density, timing and location of development
would present an issue that could limit the funding capability of the projects required of the
Community Facilities District (CFD) by impacting the ability to construct and/or acquire the
backbone infrastructure, as it is directly related to the special tax, as a function of the
development densities (taxable land); and
WHEREAS, early projects in the Platinum Triangle that were constructed before and
shortly after the formation of the CFD were developed with residential densities and
commercial/retail components that met the necessary annual special tax generation rate per acre
to fully fund the CFD and all the improvements outlined in the PTIP; and
WHEREAS, recent projects have been approved with residential densities that are
reduced by as much as 50%, and commercial densities that are reduced by as much as 90%, from
densities originally approved by development agreements, of which agreements have since been
amended or replaced in their entirety, the City has reevaluated all the projects in the PTIP and
available development opportunities with the goal to reduce the costs of the infrastructure
required to be funded by the CFD; and
WHEREAS, one item in the PTIP cost estimate that has been identified of having
significant impact to the effectiveness of CFD is the cost of property acquisition (right—of-way);
and
WHEREAS, early projects generated enough special taxes on their properties to
reimburse the developers for the dedicated right-of-way for their frontage which, traditionally
would have been required to be dedicated at no cost; however, newer revised development
projects are not anticipated to generate sufficient special taxes to continue the practice of right-
of-way reimbursement; and
WHEREAS, notwithstanding those policies established in Resolution 2008-057, in order
to sustain the CFD with the existing levy of special taxes, the City has determined that there now
exists a need to re-evaluate its reimbursement policies and make adjustments to this policy as
further provided herein; and
WHEREAS, the City Council has determined that it is convenient and desirable to adopt
these policies to serve as guidance to the City Council, City staff and owners of property within
the Core with respect to the Core Improvements, the Community Facilities District and the
Bonds.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF ANAHEIM AS FOLLOWS:
Section 1. It is the policy of the City that property owners within the Core shall
irrevocably offer to dedicate, to the City, easements for road, public utilities and other public
purposes for road widening to their ultimate right-of-way and include the necessary temporary
construction easements, as determined by the City Engineer and further allow the City to
construct and/or acquire the necessary backbone infrastructure required by the PTIP.
Section 2. It is the policy of the City that development projects that exceed the annual
special tax generation rate $68,039/acre would be eligible for right-of-way reimbursement,
only if they have satisfied all the requirements of the PTIP and only if CFD bond money is
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available.
Section 3. It is the policy of the City that development projects issued an approved
building permit and which have not waived reimbursement of right-of—way costs in their
current development agreement will continue to be eligible for right-of-way reimbursement for
only those frontage areas adjoining to an arterial street identified in the PTIP.
Section 4. It is the policy of the City that any developer who seeks a new, revised,
amended, or extended development agreement, decreasing previously approved densities and
resulting in an annual special tax generation rate below $68,039/acre, would be required to
waive the reimbursement of right-of-way costs and dedicate easements for road, public
utilities, and other public purposes for road widening to the ultimate right-of-way and include
the temporary construction easements, as determined by the City Engineer, and would not be
eligible for right-of-way reimbursement costs.
Section 5. The officers, employees and agents of the City are hereby authorized and
directed to take all actions and do all things which they, or any of them, may deem necessary
or desirable to accomplish the purposes of this Resolution and not inconsistent with the
provisions hereof.
Section 6. This Resolution shall take effect immediately upon its adoption.
THE FOREGOING RESOLUTION is approved and adopted by the City Council of the
City of Anaheim this 1 2 th day of July , 2016 by the following roll call vote:
AYES: Mayor Pro Tem Kring and Council Members Murray, Brandman,
and Vanderbilt
NOES: None
ABSENT: Mayor Tait
ABSTAIN: None
ATTES
CITY CLERK OF THE CITY OF AN HEIM
117833
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CITY OF ANAHEIM
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PRO TEM TY OF A6174EIM