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HomeMy WebLinkAbout2007 04 23 Regular 601 Annual Capital and Maintenance Assessment Rates Relating to Tuscawilla COMMISSION AGENDA ITEM 601 CONSENT INFORMATIONAL PUBLIC HEARING REGULAR X April 23, 2007 Meeting MGR ~ .... /D EPT Authorization REQUEST: The Finance And Community Development Departments Are Requesting That The City Commission Authorize Staff To Proceed With Mailing Of Notice To Property Owners Via United States Mail Regarding Public Hearing; To Publish A Legal Advertisement Of Public Hearing; To Combine Tuscawilla Lighting And Beautification Phases I And II Maintenance Assessment Rates To Streamline Assessment Administration Process; And To Establish The Public Hearing Date As Tuesday, May 29, 2007 To Consider Increasing The Maximum Annual Capital And Maintenance Assessment Rates Relating To The Tuscawilla Lighting And Beautification Assessment Area - Phases I And II. PURPOSE: The purpose of this request is for the City Commission to authorize staff to proceed with all legal notices necessary to hold a public hearing and to set a date for the said public hearing to consider increasing the maximum annual capital and maintenance assessment rates relating to the Tuscawilla Lighting and Beautification Assessment Area - Phases I and II as well as to combine Tuscawilla Lighting and Beautification Phases I And II maintenance assessment rates in order to streamline the assessment administration process. CONSIDERA TIONS: . On July 13, 1998, the City Commission adopted Resolution No. 98-704, providing for the creation of assessment areas within the City and authorizing the imposition and collection of special assessments to fund the cost of capital improvements and related services within the City. Section 3.07 of this resolution requires that the City Commission adopt an Annual Local Improvement Assessment Resolution for each fiscal year in which the Local Improvement Assessments will be imposed to approve the Local Improvement Assessment Roll for such year. Section 3.08 requires that the Local Improvement Assessment Roll, as approved by the Annual Local Improvement Assessment Resolution, be certified to the Tax Collector. Resolution No. 99-884 and Resolution No. 99-885, both dated July 12, 1999, established the Tuscawilla Improvement Area and the Tuscawilla Service Area, Regular Agenda Item 60 I April 23, 2007 Page 2 of3 respectively. Resolution No. 99-887 and Resolution No. 99-888, both dated August 9, 1999, adopted a maximum annual assessment rate of $42.18 per ERU for capital and $67.82 per ERU for maintenance, respectively. Resolution No. 2005-40 dated October 10, 2005, established the Phase II Tuscawilla Improvement Area and the Tuscawilla Service Area. Resolution No. 2005-43 dated November 14, 2005, adopted a maximum annual assessment rate of $17.00 per ERU for capital and $48.00 per ERU for maintenance. . As noted in the August 28, 2006 Regular Agenda Item 303, regarding the Tuscawilla Lighting and Beautification Assessment Area - Phase I, neither assessment is at their legal maximum, $40.22 per ERU current charge versus $42.18 per ERU maximum for capital ($1.96 difference) and $53.14 per ERU current charge versus $67.82 maximum for maintenance ($14.68 difference). Due to increases in costs such as: landscape maintenance, entry feature maintenance, electrical service and administration costs of the assessment program by the urban beautification division, Government Services Group (GSG) and Nabors, Giblin and Nickerson, P.A. (legal counsel), current charges will need to be increased before adoption of the Fiscal Year 2007/2008 (Tax Year 2007) Final Budget. . As noted in the August 28, 2006 Regular Agenda Item 304, regarding the Tuscawilla Lighting and Beautification Assessment Area - Phase II, both assessments are at their legal maximums, $17.00 per ERU for capital and $48.00 per ER U for maintenance. . Government Services Group (GSG) has been contracted to perform the duties associated with the annual determination of capital (debt service) and maintenance assessments for Tuscawilla and has performed such calculations for over eight years (since the creation of this assessment district). Additional analysis was required due to the increased costs described in the previous paragraph. Steve Richart, Urban Beautification Manager, prepared a five-year maintenance budget and Camille Tharpe of GSG performed a five-year rate analysis (see Attachment 1 ). . After reviewing the structure of the Tuscawilla Lighting And Beautification Phases I and II Assessment Programs, both GSG and staff recommend combining the maintenance assessments rates to streamline the administration process. As there is no ability to prepay the maintenance assessment all the same property owners are subject to the annual assessment rates for maintenance services for Phases I and II. However, it was determined that is was not feasible to combine the Phases I and II capital assessment programs since although they both started with the same parcels of land, different property owners have chosen to prepay their capital assessment. . Based on the information discussed in the above paragraph, the attached analysis by GSG is prepared to combine the maintenance assessments only with separate capital assessments for Phases I and II. The analysis shows that the maximum assessment rates of $42.18 per ERU for Phase I capital and $115.82 per ERU for Regular Agenda I tern 601 April 23, 2007 Page 3 of3 maintenance ($67.82 Phase I and $48.00 Phase II) should be increased to at least $43.00 per ERU for Phase I capital and $128.00 per ERU for maintenance (Phases I and II combined) (additional documentation to follow at the Commission Meeting) to cover the forecasted expenditures for the next five fiscal years (FY 2007-2008 to FY 2011-2012) (see Attachment 2). Phase II capital assessment rate of $17.00 should remain unchanged. The proposed rates will need to be established tonight in order to properly notice property owners of public hearing on the proposed rate increases. The rate change, however, will not be formally adopted until the Public Hearing on Tuesday, May 29,2007. . In order to increase the assessment rates the City is required to send a notice of a public hearing to each property owner via u.s. mail, which should be mailed on May 8, 2007 by GSG, as well as publish a notice of public hearing in the Tuesday, May 8, 2007, Orlando Sentinel (to be placed by City staft), pursuant to Ordinance No. 98-704, in order to increase the Capital and Maintenance Assessments above the maximum amounts established by the City's previous notice to owners sent out on July 19, 1999 for Phase I and October 25,2005 for Phase II of the TLBD capital and maintenance assessments. . The final assessment rolls by parcel number and alphabetically by property owner are not available with this agenda item but will be available in the lobby and the City Clerk's office with the Public Hearing agenda item for the May 29,2007 City Commission meeting. RECOMMENDATION: It is recommended that the City Commission authorize staff to proceed with mailing of notice to property owners via United States mail regarding public hearing; to publish a legal advertisement of public hearing; and to establish the public hearing date as Tuesday, May 29, 2007 to consider increasing the maximum annual capital and maintenance assessment relating to the Tuscawilla Lighting and Beautification Assessment Area - Phase I and II. It is also recommended that the City Commission approve the proposed maximum assessment rates of $43.00 per ERU for Phase I capital, $17.00 per ERU for Phase II capital (remains unchanged) and $128.00 per ERU for maintenance (Phases I and II combined) to be contained in the notice to property owners in the assessment area as well as the legal advertisement regarding the public hearing. ATTACHMENTS: 1. GSG memo dated April 12, 2007 2. Current and Proposed Assessment Rates 3. Form of Published Notice 4. Form of Mailed Notice COMMISSION ACTION: ATTACHMENT 1 GSG MEMO DATED APRIL 12, 2007 G S G solutions GOVERNMENT SE RVICES GROUP, INC. April 12, 2007 Via Electronic Transmission Ronald McLemore, City Manager City of Winter Springs 1126 East SR 434 Winter Springs, FL 32708 Re: City of Winter Springs - Assessment Rate Analysis for Tuscawilla Lighting and Beautification District Phases One and Two and Oak Forest Wall Neighborhood Improvement Assessment Program Dear Ron: Over the past eight years or more, Government Services Group, Inc. (GSG) has assisted the City of Winter Springs (City) in developing and maintaining the non-ad valorem assessment programs to fund the following: . Tuscawilla Lighting and Beautification District (TLBD) - Phase One: Capital Improvements and Ongoing Maintenance Services . Tuscawilla Lighting and Beautification District (TLBD) - Phase Two: Capital Improvements and Ongoing Maintenance Services . Oak Forest Wall Neighborhood Improvement Area - Capital Improvements and Ongoing Maintenance Services As these programs have been in place for several years, GSG recommended that the City review and analyze methods to develop an integrated and streamlined program for both the TLBD Phase One and TLBD Phase Two assessment programs, as well as the Oak Forest Wall Neighborhood Improvement assessment program. This correspondence provides the results of the preliminary analysis and includes five-year annual assessment rates and the minimum, maximum and average assessment rates for the maintenance services component of all three programs. The analysis also provides a revised maximum annual capital assessment rate for all three programs. The first step in streamlining the process was to determine the feasibility of combining the TLBD Phase One and Two assessment programs. While it was feasible to combine the maintenance assessment programs, it was not feasible to combine the two capital assessment programs. The reason the capital assessment programs could not be combined was because although both programs initially started with the same parcels of property, different property owners have chosen to prepay their capital assessment amounts; therefore, the current databases contain different property owners based on if they prepaid or not. F Ronald McLemore April 12, 2007 Page 2 There is no ability to prepay the maintenance assessment so all the same property owners are subject to the annual assessment rates for maintenance services. The next step in streamlining the process was to develop five-year proforma maintenance budgets. The TLBD Phase One and Two maintenance budgets were combined beginning Fiscal Year 2007-08. City staff provided preliminary five-year maintenance budgets for the programs which GSG reviewed and revised for additional costs. The five-year budget for the combined TLBD maintenance assessment program and annual assessment rates are provided in Table 1. Table 1 TLBD Proforma Maintenance Budgets and Assessment Rates Fiscal Year 2007-08 through 2011-12 Account Baseline New Total Baseline New Total Baseline New Total Baseline New Total Baseline New Total Number Description of Expenditures FY07-08 FY07.08 FY07-08 FY08.09 FY08-09 FY08.09 FY09-10 FY 09.10 FY09-10 FYl0-U FYl0-U FYl0.U FYU-12 FYU-12 FYU.12 Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget 53180 Consultant Services $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 53211 Assessment Services $11.055 $0 $11.055 $9.316 $0 $9.316 $9.596 $0 $9.596 $9.884 $0 $ 9 .884 $10.180 $0 $10.180 53410 Contractual Services Cost $1.500 $100 $1,600 $1.600 $0 $1.600 $1.600 $0 $1,600 $1.600 $100 $1.700 $1.700 $0 $1,700 53411 Bank Service Charges $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 53680 Unrecognized Gain/Loss $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 54210 Postage $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $5.500 $5.500 $0 $0 $0 54310 Utility Services $45.000 $0 $45.000 $45.000 $1.000 $46.000 $46.000 $1.000 $47.000 $47,000 $1.000 $48.000 $48,000 $1,000 $49,000 54330 Street Lighting $45,000 $162,000 $207,000 $197,000 $19,700 $216,700 $216,700 $10,835 $227.535 $227,535 $11.500 $239,035 $239,035 $12,000 $251.035 54686 Repairs & Maint - Landscape $135,000 $0 $135.000 $135,000 $0 $135,000 $135,000 $0 $135,000 $130,000 $5,000 $135,000 $135.000 $5,000 $140.000 54693 Repairs & Maint - Fountains $20,000 $0 $20,000 $20,000 $20,000 $20,000 $25,000 $45,000 $20,000 $0 $20,000 $20,000 $5,000 $25,000 54695 Repairs & Maint - Signs & Walls $20,000 $15,000 $35,000 $20,000 $30,000 $50,000 $20,000 $30,000 $50,000 $20,000 $0 $20,000 $20,000 $0 $20,000 55230 Clerk Supplies $100 $0 $100 $100 $0 $100 $100 $0 $100 $100 $0 $100 $100 $0 $100 59130 Transfer to General Fund - Insurance $6.400 $0 $6.400 $6.400 $100 $6,500 $6,500 $300 $6,800 $6,800 $300 $7,100 $7,100 $400 $7,500 59130 Transfer to General Fund - Clerk Fees* $3,800 $0 $3,800 $3.800 $200 $4,000 $4,000 $0 $4,000 $4,000 $0 $4,000 $4,000 $0 $4,000 59130 Transfer to Gen.Fund - Beautification $41,000 $0 $41,000 $41.000 $2.000 $43,000 $43,000 $0 $43,000 $43,000 $1,000 $44,000 $44,000 $1.000 $45,000 59310 Statutory Reserve $14,566 $0 $14,566 $22.176 $0 $22,176 $23,735 $0 $23,735 $22.263 $0 $22,263 $23,063 $0 $23.063 Notice Costs $5,636 $0 $5.636 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Tax Collector Costs $7,135 $0 $7,135 $10.862 $0 $10,862 $11,625 $0 $11,625 $10.904 $0 $10,904 $11,296 $0 $11,296 less Carry Forward from TlBD II ($162.000) Grand Total $356,192 $177,100 $371,292 $512,25~ $53,000 $565,25:t,,\ $537,856 $67,135 $604,991 $543,08-7'" $24,400 $567,487"1, $563,474 $24,400 $587,874 Annual Assessment Rate Per ERU $86.37 $131.48 $140.73 $132.00 $136.75 Maximum Rate "\\'5~z...~ ~I'S,~ · "s-Sa.~ 'Q \ \"5 .~$U&:mT' ).I\s-,n-~ Difference L~1PI."") $~ "\ '5,10'" ~ '\~C\, $~ ~\\r1.'<i. ~ fr'U?~7 .~ Rona Id McLemore April 12, 2007 Page 3 Table 2 provides the minimum, maximum and average budgets and corresponding assessment rates for the combined TLBD maintenance assessment program for the five year period. Table 2 TLBD Proforma Maintenance Budgets and Assessment Rates Minimum, Maximum and Average Account Number Description of Expenditures Minimum Average Maximum Budget Budget Budget 53180 Consultant Services $0 $0 $0 53211 Assessment Services $11.055 $10.007 $9.596 53410 Contractual Services Cost $1.600 $1.640 $1.600 53411 Bank Service Charges $0 $0 $0 53680 Unrecognized Gain/Loss $0 $0 $0 54210 Postage $0 $1.100 $0 54310 Utility Services $45.000 $47.000 $47.000 54330 Street Lighti ng $207.000 $228.261 $227.535 54686 Repairs & Maint - Landscape $135.000 $136.000 $135.000 54693 Repairs & Maint - Fountains $20.000 $26.000 $45.000 54695 Repairs & Maint - Signs & Walls $35.000 $35.000 $50.000 55230 Clerk Supplies $100 $100 $100 59130 Transfer to General Fund - Insurance $6.400 $6.860 $6.800 59130 Transfer to General Fund - Clerk Fees* $3.800 $3.960 $4,000 59130 Transfer to Gen.Fund - Beautification $41.000 $43.200 $43.000 59310 Statutory Reserve $14.566 $21.161 $23.735 Notice Costs $5.636 $1.128 $0 Tax Collector Costs $7.135 $10.365 $11.625 Less Carry Forward from TLBD II ($162.000) ($32.400) Grand Total $371,292 $539,382 $604,991 Annual Assessment Rate Per ERU $86.37 $125.47 $140.73 Maximum Rate ~"S.fa- ~ 'I\~~O "II~~ Difference l y ~(t l.\ s') $JZ.3.6S') , q . ~ ~ S.1.6:47 't~~~1 $~ Table 3 provides a cash flow analysis for the combined TLBD maintenance assessment program for the five- year period assuming the City imposes the average maintenance assessment rate for the five years. Table 3 TLBD Proforma Cash Flow Analysis FY07-08 FY08-09 FY09-10 FY10-11 FY11-12 Revenue @ average rate - $703,674 $712.056 $688,4 77 $625.160 $599.347 rounded up (includes carryover) Budget $533.292 $565,253 $604,991 $567,487 $587,874 Difference $170,382 $146.803 $83,486 $57,673 $11,473 Rona Id McLemore April 12, 2007 Page 4 Table 4 provides the maximum annual capital assessment rate for TLBD Phase One. Table 4 TLBD Phase One Maximum Capital Assessment Rates Maximum Annual Debt Service $155,949 $5,929 $10,057 $171,936 4,017 $42.80 $43.00 Professional Fees Collection Costs (Statutory Discount and Tax Collector Costs) Total Annual Assessment Amount Number of ERUs Annual Assessment AmountjERU Rounded Annual Assessment AmountjERU Table 5 provides the maximum annual capital assessment rate for TLBD Phase Two. Table 5 TLBD Phase Two Maximum Capital Assessment Rates Maximum Annual Debt Service $30,679 $1,167 $1,7 42 $33,588 2,492 $13.48 $14.00 Professional Fees Collection Costs (Statutory Discount and Tax Collector Costs) Total Annual Assessment Amount Number of ERUs Annual Assessment AmountjERU Rounded Annual Assessment AmountjERU Ronald McLemore April 12, 2007 Page 5 The five-year budget for the Oak Forest Wall maintenance assessment program and annual assessment rates are provided in Table 6. Table 6 Oak Forest Wall Proforma Maintenance Budgets and Assessment Rates Fiscal Year 2007-08 through 2011-12 Account Baseline New Total Baseline New Total Baseline New Total Baseline New Total Baseline New Total Number Description of Expenditures FY07-08 FY07-08 FY07-08 FY08-09 FY08-09 FY08-09 FY09-10 FY09-10 FY09-10 FYl0-11 FYl0-ll FYl0-11 FYl1-12 FYl1-12 FYll-12 Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget 53111 Legal $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 53211 Administration Fees $15,950 $0 $15,950 $13,905 $0 $13,905 $14,322 $0 $14,322 $14,752 $0 $14,752 $15,194 $0 $15,194 53410 Billing Services Cost $300 $0 $300 $300 $50 $350 $350 $0 $350 $350 $0 $350 $350 $50 $400 53411 Bank Service Charges $0 $0 $0 $0 $0 53680 Unrecognized Gain/Loss $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 54210 Postage $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,500 $1,500 $0 $0 $0 54310 Utility Services $1,800 $0 $1,800 $1,800 $200 $2,000 $2,000 $200 $2,200 $2,200 $200 $2,400 $2,400 $100 $2,500 54682 Repairs & Maint - Grounds $17,000 $3,000 $20,000 $20,000 $1,000 $21,000 $21,000 $0 $21,000 $21,000 $0 $21,000 $21,000 $0 $21.000 54695 Repairs & Maint Sign/Wails $4,000 $500 $4,500 $4,500 $500 $5,000 $4,500 $0 $4,500 $4,500 $0 $4,500 $4,500 $0 $4,500 55230 Clerk Supplies $50 $0 $50 $50 $0 $50 $50 $0 $50 $50 $0 $50 $50 $0 $50 55270 Small Tools & Equipment $0 $0 $0 $0 $0 59130 Transferto General Fund - Insurance $1,350 $125 $1,475 $1,475 $100 $1,575 $1.575 $75 $1,650 $1,650 $75 $1,725 $1,725 $75 $1,800 59130 Transferto General Fund - Clerk Fees * $1,900 $0 $1,900 $1.900 $100 $2,000 $2,000 $0 $2,000 $2,000 $0 $2,000 $2,000 $0 $2,000 59130 Transfer to Gen Fund - Beautification Coord. $6,750 $450 $7,200 $7,200 $800 $8,000 $8,000 $0 $8,000 $8,000 $500 $8,500 $8,500 $200 $8,700 59310 Statutory Reserve $2,264 $0 $2,264 $1,885 $0 $1,885 $1,885 $0 $1,885 $1,885 $0 $1,885 $1,885 $0 $1,885 Notice Costs $1,169 $0 $1,169 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Tax Collector Costs $1,179 $0 $1,179 $1,162 $0 $1.162 $1,166 $0 $1,166 $1,222 $0 $1,222 $1,209 $0 $1,209 Grand Total $53,712 $4,075 $57,787 $54,177 $2,750 $56,927 $56,848 $275 $57,123 $57,609 $2,275 $59,884 $58,813 $425 $59,238 Annual Assessment Rate Per ERU $59,81 $58,92 $59.12 $61,98 $61.31 Current Maximum Rate $40,82 $40,82 $40,82 $40,82 $40,82 Difference $18.99 $18.10 $18.30 $21.16 $20.49 Ronald McLemore April 12, 2007 Page 6 Table 7 provides the minimum, maximum and average budgets and corresponding assessment rates for the Oak Forest Wall maintenance assessment program for the five year period. Table 7 Oak Forest Proforma Maintenance Budgets and Assessment Rates Minimum, Maximum and Average Account Description of Expenditures Minimum Average Maximum Number Budget Budget Budget 53111 Legal $0 $0 $0 53211 Administration Fees $13,905 $14,825 $14,752 53410 Billing Services Cost $350 $350 $350 53411 Bank Service Charges $0 $0 $0 53680 Unrecognized Gain/Loss $0 $0 $0 54210 Postage $0 $300 $1,500 54310 Utility Services $2,000 $2,180 $2,400 54682 Repairs & Maint - Grounds $21,000 $20,800 $21,000 54695 Repairs & Maint - Signs/Walls $5,000 $4,600 $4,500 55230 Clerk Supplies $50 $50 $50 55270 Small Tools & Equipment $0 $0 $0 59130 Transfer to General Fund - Insurance $1,575 $1,645 $1,725 59130 Transfer to General Fund - Clerk Fees * $2,000 $1,980 $2,000 59130 Transfer to Gen Fund - Beautification Coord. $8,000 $8,080 $8,500 59310 Statutory Reserve $1,885 $1,961 $1,885 Notice Costs $0 $234 $0 Tax Collector Costs $1,162 $1,188 $1,222 Grand Total $56,927 $58,193 $59,884 Annual Assessment Rate Per ERU $58.92 $60.23 $61.98 Current Maximum Rate $40.82 $40.82 $40.82 Difference $18.10 $19.41 $21.16 Table 8 provides a cash flow analysis for Oak Forest Wall maintenance assessment program for the five-year period assuming the City imposes the average maintenance assessment rates for the five years. Table 8 Oak Forest Wall Proforma Cash Flow Analysis Fiscal Year 2007-08 through 2011-12 Revenue @ average rate -rounded up Budget Difference FY07 -08 $58,938 $57,787 $1,151 FY08-09 $60,089 $56,927 $3,162 FY09-10 $62,100 $57,123 $4,978 FY10-11 $63,916 $59,884 $4,032 FYll-12 $62,970 $59,238 $3,732 Ronald McLemore April 12, 2007 Page 7 Table 9 provides the maximum annual capital assessment rates for the Oak Forest Wall capital assessment program. Table 9 Oak Forest Wall Maximum Capital Assessment Rates Maximum Annual Debt Service $51,505 $5,264 $3,573 $60,342 847 $71.22 $72.00 Professional Fees Collection Costs (Statutory Discount and Tax Collector Costs) Total Annual Assessment Amount Number of ERUs Annual Assessment AmountjERU Rounded Annual Assessment AmountjERU Because all of these proforma rates exceed the maximum rates established by the City for these assessment programs, the imposition of these proforma rates will require the City to send first class mailed notices to all affected property owners regarding the annual and maximum rates to be imposed; these mailing costs have been included in the proforma budgets. The notices would need to be mailed 20 days prior to the public hearing to adopt the annual assessment resolutions. Table 10 provides the schedule for Fiscal Year 2007-08. Table 10 Fiscal Year 2007-08 Assessment Schedule EVENT DATE GSG presents proforma rates to City Commission April 25, 2007 GSG mails out notices May 8, 2007 City to Publish Notice of Hearing to Adopt Annual May 8, 2007 Resolution City adopts annual assessment resolution May 29, 2007 GSG Certifies Assessment Roll to Tax Collector By September 15, 2007 Tax Bill Mailed November 1, 2007 GSG is available to meet with you, City staff and elected officials to explain the streamlining process and results at your convenience. If you have any questions or need additional information, please call me. Sincerely, ~lQk (?~ Camille P. Tharpe cc: Chris Traber, NGN Mark Brown, GSG ATTACHMENT 2 CURRENT AND PROPOSED ASSESSMENT RATES ATTACHMENT 2 Winter Springs TLBD Assessment Programs FY 2007-2008 thru FY 2011-2012 CURRENT PROPOSED FY 2006-2007 ** FY 2007-2008 thru FY 2011-2012 Assessment Phase I * Phase II ** Combined Phase I Phase II Combined Increase Maintenance $53.14 $48.00 $101.14 N/A N/A $128.00 $26.86 Improvements - Phase I $40.22 N/A N/A $43.00 N/A N/A $2.78 Improvements - Phase II N/A $17.00 N/A N/A $17.00 N/A $0.00 Total $93.36 $65.00 $101.14 $43.00 $17.00 $128.00 N/A Total all Phases & Assessments $158.36 Total all Phases & Assessments $188.00 $29.64 * Please note that the FY 2006-2007 Phase I Assessment Rates are not currently being charged at the maximum rates allowable by Resolutions No. 99-887 and No. 99-888 adopted by City Commission on August 9, 1999. The maximum assessment rates adopted were $42.18 per ERU for capital and $67.82 per ERU for maintenance for a total maximum assessment of $110.00 (versus current total of $93.36). ** Please note that the FY 2006-2007 Phase II Assessment Rates are currently being charged at the maximum rates allowable by Resolution No. 2005-43 adopted by City Commission on November 14, 2005. ATTACHMENT 3 FORM OF PUBLISHED NOTICE To Be Published on or before May 8,2007 [MAP OF TUSCA WILLA ASSESSMENT AREA] NOTICE OF HEARING TO COMBINE PHASE I AND PHASE II MAINTENANCE ASSESSMENT RATES AND TO INCREASE CAPITAL AND MAINTENANCE ASSESSMENTS FOR PHASES I AND II Notice is hereby given that the City Commission of Winter Springs, Florida, will conduct a public hearing to consider increasing the Capital Assessments imposed in the Tuscawilla Improvement Area - Phase I, from $42.18 per Benefit Unit to $43.00 per Benefit Unit, combining the Maintenance Assessments imposed in the Tuscawilla Improvement Area - Phases I and II, of $67.82 per Benefit Unit for Phase I and $48.00 per Benefit Unit for Phase II, for a combined total of $115.82 per Benefit Unit, and increasing the newly combined Maintenance Assessments imposed in the Tuscawilla Improvement Area - Phases I and II, to $128.00 per Benefit Unit. The public hearing will be held at 5:15 PM on May 29, 2007, in the City Hall - Commission Chambers, Winter Springs, Florida. In accordance with the Americans with Disabilities Act, persons needing a special accommodation or an interpreter to participate in this proceeding should contact the City Clerk's office at (407) 327-1800 at least 48 hours prior to the date of the hearing. All affected property owners have a right to appear at the hearing and to file written objections with the City Commission within 20 days of this notice. Any person wishing to appeal any decision of the City Commission with respect to any matter considered will need a record and may wish to ensure that a verbatim record is based. The Tuscawilla Improvement and Service Area - Phase I was created to fund capital and maintenance costs for wing walls, median improvements, street lights and street monuments with that area. The Tuscawilla Improvement and Service Area - Phase II was created to fund capital and maintenance costs for the removal of existing street signage and streetlights and installation of new decorative street lampposts and signage along the collector roads within the Tuscawilla (Phase II) Assessment Area. The project to remove existing street signage and streetlights and install new decorative street lampposts and signage is referred to as the Tuscawilla (Phase II) Improvement Project. The assessment for each parcel of property within the Tuscawilla (Phase I and II) Assessment Area will be based upon the number of residential dwelling units per parcel of property measured in Equivalent Residential Units "ERUs." The assignment ofERU's is based on the level of benefit each lot receives from aesthetic beauty and enhanced safety as a result of the Tuscawilla (Phases I and II) Improvement Projects. A more specific description is set forth in the Tuscawilla Improvement Area (Phase I) Final Local Improvement Assessment Resolution Number 99-887 (dated August 9, 1999), the Tuscawilla Service Area (Phase I) Final Local Service Assessment Resolution Number 99-888 (dated August 9, 1999) and the Final Improvement Assessment Resolution and Maintenance Assessment Resolution for the Tuscawilla (Phase II) Assessment Area Number 2005-43 adopted by the City Commission on August 9, 1999, August 9, 1999 and November 14, 2005, respectively. Copies of the Final Assessment Resolutions, the plans and specifications for the project, and the preliminary assessment rolls are available for inspection at the offIce of the City Clerk, located at 1126 East State Road 434, Winter Springs, Florida 32708. Annual capital assessments, for up to 30 years, and maintenance assessments, for the life of the project, to fund the Tuscawilla (Phase I) Improvement Project and the Tuscawilla (Phase II) Improvement Project will be collected on the ad valorem tax bill as authorized by Florida Statutes 197.3632, commencing with the tax bill to be mailed in November 2000 and November 2006, respectively. Failure to pay the assessments will cause a tax certificate to be issued against the property which may result in a loss of title. Future annual capital assessments may be prepaid at the option of the property owner. However, future annual maintenance assessments may not be prepaid. If you have any questions, please contact the City of Winter Springs Urban Beautification Manager at (407) 327-1800 extension 315. ATTACHMENT 4 FORM OF MAILED NOTICE NOTICE OF HEARING TO COMBINE PHASE I AND PHASE II MAINTENANCE ASSESSMENT RATES AND TO INCREASE CAPITAL AND MAINTENANCE ASSESSMENTS FOR PHASES I AND II ,2007 [Property Owner Name] [Street Address] [City, State and zip] Re: Tax Parcel Number [Insert Number] Benefit Units [Insert Number] Tuscawilla Improvement Areas Phase I and II Dear Property Owner: Notice is hereby given that the City Commission of Winter Springs, Florida, will conduct a public hearing to consider increasing the Capital Assessments imposed in the Tuscawilla Improvement Area - Phase I, from $42.18 per Benefit Unit to $43.00 per Benefit Unit, combining the Maintenance Assessments imposed in the Tuscawilla Improvement Area - Phases I and II, of $67.82 per BenefIt Unit for Phase I and $48.00 per Benefit Unit for Phase II, for a combined total of $115.82 per Benefit Unit, and increasing the newly combined Maintenance Assessments imposed in the Tuscawilla Improvement Area - Phases I and II, to $128.00 per Benefit Unit. The Tuscawilla Improvement and Service Area - Phase I was created to fund capital and maintenance costs for wing walls, median improvements, street lights and street monuments with that area. The Tuscawilla Improvement and Service Area - Phase II was created to fund capital and maintenance costs for the removal of existing street signage and streetlights and installation of new decorative street lampposts and signage along the collector roads within the Tuscawilla (Phase II) Assessment Area. The project to remove existing street signage and streetlights and install new decorative street lampposts and signage is referred to as the Tuscawilla (Phase II) Improvement Project. The assessment for each parcel of property within the Tuscawilla (Phase I and II) Assessment Area will be based upon the number of residential dwelling units per parcel of property measured in Equivalent Residential Units "ERUs." The assignment ofERU's is based on the level of benefit each lot receives from aesthetic beauty and enhanced safety as a result of the Tuscawilla (Phases I and II) Improvement Projects. A more specific description is set forth in the Tuscawilla Improvement Area (Phase I) Final Local Improvement Assessment Resolution Number 99-887 (dated August 9, 1999), the Tuscawilla Service Area (Phase I) Final Local Service Assessment Resolution Number 99-888 (dated August 9, 1999) and the Final Improvement Assessment Resolution and Maintenance Assessment Resolution for the Tuscawilla (Phase II) Assessment Area Number 2005-43 adopted by the City Commission on August 9, 1999, August 9, 1999 and November 14, 2005, respectively. Copies of the Final Assessment Resolutions, the plans and specifications for the project, and the preliminary assessment rolls are available for inspection at the office of the City Clerk, located at 1126 East State Road 434, Winter Springs, Florida 32708. Annual capital assessments, for up to 30 years, and maintenance assessments, for the life of the project, to fund the Tuscawilla (Phase I) Improvement Project and the Tuscawilla (Phase II) Improvement Project will be collected on the ad valorem tax bill as authorized by Florida Statutes 197.3632, commencing with the tax bill to be mailed in November 2000 and November 2006, respectively. Failure to pay the assessments will cause a tax certificate to be issued against the property which may result in a loss of title. Future annual capital assessments may be prepaid at the option of the property owner. However, future annual maintenance assessments may not be prepaid. The City Commission will hold the public hearing at 5:15 PM on May 29,2007, in the City Hall - Commission Chambers, Winter Springs, Florida, for the purpose of receiving comments on combining the Phase I and Phase II Maintenance Assessments as well as the increase in Capital and Maintenance Assessments for Phases I and II. You are invited to attend and participate in the hearing. You may also file written objections with the City Commission prior to or during the hearing. If you decide to appeal any decision made by the City Commission with respect to any matter considered at the hearing, you will need a record of the proceedings and may need to ensure that a verbatim record is made, including the testimony and evidence upon which the appeal is to be based. In accordance with the Americans with Disabilities Act, if you need a special accommodation or an interpreter to participate in this proceeding, please contact the City Clerk's office at (407) 327-1800 at least 48 hours prior to the date of the hearing. If you have any questions, please contact the City of Winter Springs Urban Beautification Manager at (407) 327-1800 extension 315. Date: April 23, 2007 The attached was referenced during the discussion of Regular Agenda Item "601" and Regular Agenda Item "602" at the April 23, 2007 City Commission Regular Meeting. , GiS G pu b}ic sector (undfnJ &( J'eruice ,. solutions GOVERNMENT SERVICES GROUP, INC. April 20, 2007 Via Electronic Transmission Ronald McLemore, City Manager City of Winter Springs 1126 East SR 434 Winter Springs, FL 32708 Re: City of Winter Springs - Assessment Rate Analysis for Tuscawilla Lighting and Beautification District Phases One and Two and Oak Forest Wall Neighborhood Improvement Assessment Program Dear Ron: Over the past eight years or more, Government Services Group, Inc. (GSG) has assisted the City of Winter Springs (City) in developing and maintaining the non-ad valorem assessment programs to fund the following: · Tuscawilla Lighting and Beautification District (TLBD) - Phase One: Capital Improvements and Ongoing Maintenance Services · Tuscawilla Lighting and Beautification District (TLBD) - Phase Two: Capital Improvements and Ongoing Maintenance Services · Oak Forest Wall Neighborhood Improvement Area - Capital Improvements and Ongoing Maintenance Services As these programs have been in place for several years, GSG recommended that the City review and analyze methods to develop an integrated and streamlined program for both the TLBD Phase One and TLBD Phase Two assessment programs, as well as the Oak Forest Wall Neighborhood Improvement assessment program. This correspondence provides the results of the preliminary analysis and includes five-year annual assessment rates and the minimum, maximum and average assessment rates for the maintenance services component of all three programs. The analysis also provides a revised maximum annual capital assessment rate for all three programs. The first step in streamlining the process was to determine the feasibility of combining the TLBD Phase One and Two assessment programs. While it was feasible to combine the maintenance assessment programs, it was not feasible to combine the two capital assessment programs. The reason the capital assessment programs could not be combined was because although both programs initially started with the same parcels of property, different property owners have chosen to prepay their capital assessment amounts; therefore, the current databases contain different property owners based on if they prepaid or not. fv1antln Drive. Suito I l'BI1B11"lssee FL I T 135068:1.311/ F 6\'30.224 720B 280 \iVe;qva f(oa(J, Sl,me :WOO I LongwDod FL 32//93026 r 41,fi629,lS900 Ii' - Ronald McLemore April 20, 2007 Page 2 There is no ability to prepay the maintenance assessment so all the same property owners are subject to the annual assessment rates for maintenance services. The next step in streamlining the process was to develop five-year proforma maintenance budgets. The TLBD Phase One and Two maintenance bJdgets were combined beginning Fiscal Year 2007-08. City staff provided preliminary five-year maintenance budgets for the programs which GSG reviewed and revised for additional costs. The five-year budget for the combined TLBD maintenance assessment program and annual assessment rates are provided in Table 1. Table 1 nBD Proforma Maintenance Budgets and Assessment Rates FIscal Year 2007-08 through 2011-12 Account Baseline New Total Baseline New Total Baseline New Total Baseline New Total Baseline New Total Number Description of Expenditures FYOH)8 FY07-08 FY07 -OS FY08-09 FYOS-08 FYOS-09 FY09-10 FY 09-10 FY09-10 FY10-11 FY 10-11 FY10-11 FY11-12 FYl1-12 FYl1-12 Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget 53180 Consultant Services $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 53211 Assessment Services $9,316 $0 $9,316 $9,596 $0 $9,596 $9,884 $0 $9,884 $10,180 $0 $10,180 $10,689 $0 $10,689 53410 Contractual Services Cost $1,500 $100 $1,600 $1,600 $0 $1,600 $1,600 $0 $1,600 $1,600 $100 $1,700 $1,700 $0 $1,700 53411 Bank Service Charges $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 53680 Unrecognized Gain/Loss $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 54210 Postage $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $5,500 $5,500 $0 $0 $0 54310 Utility Services $45,000 $0 $45,000 $45,000 $1,000 $46,000 $46,000 $1,000 $47,000 $47,000 $1,000 $48,000 $48,000 $1,000 $49,000 54330 Street Lighting $45,000 $162,000 $207,000 $197,000 $19,700 $216,700 $216,700 $10,835 $227,535 $227,535 $11,500 $239,035 $239,035 $12,000 $251,035 54686 Repairs & Maint - Landscape $135,000 $0 $135,000 $135,000 $0 $135,000 $135,000 $0 $135,000 $130,000 $5,000 $135,000 $135,000 $5,000 $140,000 54693 Repairs & Maint ~ Fountains $20,000 $0 $20,000 $20,000 $20,000 $20,000 $25,000 $45,000 $20,000 $0 $20,000 $20,000 $5,000 $25,000 54695 Repairs & Maint - Signs & Walls $20,000 $15,000 $35,000 $20,000 $30,000 $50,000 $20,000 $30,000 $50,000 $20,000 $0 $20,000 $20,000 $0 $20,000 55230 Clerk Supplies $100 $0 $100 $100 $0 $100 $100 $0 $100 $100 $0 $100 $100 $0 $100 59130 Transfer to General Fund -Insurance $6,400 $0 $6,400 $6,400 $100 $6,500 $6,500 $300 $6,800 $6,800 $300 $7,100 $7,100 $400 $7,500 59130 Transfer to General Fund - Clerk Fees* $3,800 $0 $3,800 $3,800 $200 $4,000 $4,000 $0 $4,000 $4,000 $0 $4,000 $4,000 $0 $4,000 59130 Transfer to Gen,Fund . Beautification $41,000 $0 $41,000 $41,000 $2,000 $43,000 $43,000 $0 $43,000 $43,000 $1,000 $44,000 $44,000 $1,000 $45,000 59310 Statutory Reserve $14,494 $0 $14,494 $22,187 $0 $22,187 $23,747 $0 $23,747 $22,276 $0 $22,276 $23,084 $0 $23,084 Notice Costs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Tax Collector Costs $7,099 $0 $7,099 $10,867 $0 $10,867 $11,631 $0 $11,631 $10,911 $0 $10,911 $11,307 $0 $11,307 Less Carry Forward from TLBD II ($156,364) Grand Total $348,709 $177,100 $369,445 $512,551 $53,000 $565,551 $53S,162 $67,135 $605,297 $543,401 $24,400 $567,801 $564,015 $24,400 $588,415 Annual Assessment Rate Per ERU $85.94 $131.55 $140.80 $132.08 $136.87 Maximum Rate $115.82 $115.82 $115.82 $115.82 $115.82 Difference ($29,88) $15.73 $24.98 $16.26 $21.05 Ronald McLemore April 20, 2007 Page 3 Table 2 provides the minimum, maximum and average budgets and corresponding assessment rates for the combined TLBD maintenance assessment program for the five year period. Table 2 TLBD Proforma Maintenance Budgets and Assessment Rates Minimum, Maximum and Average Account Number Description of Expenditures Minimum Average Maximum Budget Budget Budget 53180 Consultant Services $0 $0 $0 53211 Assessment Services $9,316 $9,933 $9,884 53410 Contractual Services Cost $1,600 $1,640 $1,600 53411 Bank Service Charges $0 $0 $0 53680 Unrecognized Gain/Loss $0 $0 $0 54210 Postage $0 $1,100 $0 54310 Utility Services $45,000 $47,000 $47,000 54330 Street Lighting $207,000 $228,261 $227,535 54686 Repairs & Maint - Landscape $135,000 $136,000 $135,000 54693 Repairs & Maint - Fountains $20,000 $26,000 $45,000 54695 Repairs & Maint - Signs & Walls $35,000 $35,000 $50,000 55230 Clerk Supplies $100 $100 $100 59130 Transfer to General Fund -Insurance $6,400 $6,860 $6,800 59130 Transfer to General Fund - Clerk Fees* $3,800 $3,960 $4,000 59130 Transfer to Gen.Fund - Beautification $41,000 $43,200 $43,000 59310 Statutory Reserve $14,494 $21,158 $23,747 Notice Costs $0 $0 $0 Tax Collector Costs $7,099 $10,363 $11,631 Less Carry Forward from TLBD " ($156,364) ($31,273) Grand Total $369,445 $539,302 $605,297 Annual Assessment Rate Per ERU $85.94 $125.45 $140.80 Maximum Rate $115.82 $115.82 $115.82 Difference $(29.88) $9.63 $24.98 Table 3 provides a cash flow analysis for the combined TLBD maintenance assessment program for the five- year period assuming the City imposes the average maintenance assessment rate (rounded up to the nearest dollar) at $126.00 per year for the five years. Table 3 TLBD Proforma Cash Flow Analysis FY07-0S FYOS-09 FY09-10 FY10-11 FY11-12 Revenue @ average rate - rounded up $698,038 $713,903 $690,027 $626,404 $600,277 (includes carryover) Budget $525,809 $565,551 $605,297 $567,801 $588,415 Difference $172,229 $148,353 $84,730 $58,603 $11,862 Ronald McLemore April 20, 2007 Page 4 Table 4 provides the maximum annual capital assessment rate for TLBD Phase One. Table 4 TLBD Phase One Maximum Capital Assessment Rates Maximum Annual Debt Service Professional Fees Collection Costs (Statutory Discount and Tax Collector Costs) Total Annual Assessment Amount $155,949 $5,929 $10,057 $171,936 4,017 $42.80 $43.00 Number of ERUs Annual Assessment AmountjERU Rounded Annual Assessment AmountjERU Table 5 provides the maximum annual capital assessment rate for TLBD Phase Two. Table 5 TLBD Phase Two Maximum Capital Assessment Rates Maximum Annual Debt Service $30,679 $1,167 $1,7 42 $33,588 2,492 $13.48 $14.00 Professional Fees Collection Costs (Statutory Discount and Tax Collector Costs) Total Annual Assessment Amount Number of ERUs Annual Assessment AmountjERU Rounded Annual Assessment AmountjERU Ronald McLemore April 20, 2007 Page 5 The five-year budget for the Oak Forest Wall maintenance assessment program and annual assessment rates are provided in Table 6. Table 6 Oak Forest Wall Proforma Maintenance Budgets and Assessment Rates FIscal Year 2007-08 through 2011.12 Account Baseline New Total Baseline New Total Baseline New Total Baseline New Total Baseline New Total Number Descrlptlon of Expenditures FY07.08 FY07.08 FY07.08 FY08-09 FYOS.Q9 FY08.Q9 FY09-1O FY09-10 FY09-1O FY1o-U FY1o-U FY1o-U FYU-12 FYU.12 FYU-12 Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget 53111 Legal $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 53211 Administration Fees $9,316 $0 $9,316 $9,596 $0 $9,596 $9,884 $0 $9,884 $10,180 $0 $10,180 $10,689 $0 $10,689 53410 Billing Services Cost $300 $0 $300 $300 $50 $350 $350 $0 $350 $350 $0 $350 $350 $50 $400 53411 Bank Service Charges $0 $0 $0 $0 $0 53680 Unrecognized Gain/Loss $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 54210 Postage $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,500 $1,500 $0 $0 $0 54310 Utility Services $2,800 $0 $2,800 $3,080 $200 $3,280 $3,388 $200 $3.588 $3,727 $200 $3,927 $4,099 $100 $4,199 54682 Repairs & Maint - Grounds $17,000 $3,000 $20,000 $20,000 $1,000 $21,000 $21,000 $0 $21.000 $21,000 $0 $21,000 $ 21.000 $0 $21,000 54695 Repairs & Maint. Sign/Walls $4.000 $500 $4.500 $4,500 $500 $5,000 $4,500 $0 $4,500 $4,500 $0 $4.500 $4,500 $0 $4,500 55230 Clerk Supplies $50 $0 $50. $50 $0 $50 $50 $0 $50 $50 $0 $50 $50 $0 $50 55270 Small Tools & Equipment $0 $0 $0 $0 $0 59130 Transfer to General Fund -Insurance $1.350 $125 $1,475 $1,475 $100 $1,575 $1,575 $75 $1,650 $1,650 $75 $1,725 $1,725 $75 $1,800 59130 Transfer to General Fund. Clerk Fees * $1,900 $0 $1,900 $1,900 $100 $2,000 $2,000 $0 $2,000 $2,000 $0 $2,000 $2,000 $0 $2,000 59130 Transfer to Gen Fund - Beautification Coord, $6,750 $450 $7,200 $7,200 $800 $8,000 $8,000 $0 $8,000 $8,000 $500 $8,500 $8,500 $200 $8,700 59310 Statutory Reserve $1,981 $0 $1,981 $1,885 $0 $1,885 $1,885 $0 $1,885 $1,885 $0 $1,885 $1,885 $0 $1,885 Notice Costs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Tax Collector Costs $1,032 $0 $1,032 $1,099 $0 $1,099 $1,102 $0 $1,102 $1,159 $0 $1,159 $1,150 $0 $1,150 Grand Total $46,479 $4,075 $50,554 $51,0S5 $2,750 $53,835 $53,734 $275 $54,009 $54,500 $2,275 $56,775 $55,949 $425 $56,374 Annual Assessment Rate Per ERU $52.32 $55.72 $55.90 $58,76 $58,35 Current Maximum Rate $40.82 $40,82 $40.82 $40.82 $40.82 Difference $11.50 $14.90 $15.08 $17.94 $17.53 Ronald McLemore April 20, 2007 Page 6 Table 7 provides the minimum, maximum and average budgets and corresponding assessment rates for the Oak Forest Wall maintenance assessment program for the five year period. Table 7 Oak Forest Proforma Maintenance Budgets and Assessment Rates Minimum, Maximum and Average Account Description of Expenditures Minimum Average Maximum Number Budget Budget Budget 53111 Legal $0 $0 $0 53211 Administration Fees $9,316 $9,933 $10,180 53410 Billing Services Cost $300 $350 $350 53411 Bank Service Charges $0 $0 $0 53680 Unrecognized Gain/Loss $0 $0 $0 54210 Postage $0 $300 $1,500 54310 Utility Services $2,800 $3,559 $3,927 54682 Repairs & Maint - Grounds $20,000 $20,800 $21,000 54695 Repairs & Maint - Signs/Walls $4,500 $4,600 $4,500 55230 Clerk Supplies $50 $50 $50 55270 Small Tools & Equipment $0 $0 $0 59130 Transfer to General Fund - Insurance $1,4 75 $1,645 $1,725 59130 Transfer to General Fund - Clerk Fees * $1,900 $1,980 $2,000 59130 Transfer to Gen Fund - Beautification Coord. $7,200 $8,080 $8,500 59310 Statutory Reserve $1,981 $1,905 $1,885 Notice Costs $0 $0 $0 Tax Collector Costs $1,032 $1,109 $1,159 Grand Total $50,554 $54,311 $56,775 Annual Assessment Rate Per ERU $52.32 $56.21 $58.76 Current Maximum Rate $40.82 $40.82 $40.82 Difference $11.50 $15.39 $17.94 Table 8 provides a cash flow analysis for Oak Forest Wall maintenance assessment program for the five-year period assuming the City imposes the average maintenance assessment rates(rounded up to the nearest dollar) at $57.00 per year for the five years. Table 8 Oak Forest Wall Proforma Cash Flow Analysis Fiscal Year 2007-08 through 2011-12 FY07-08 FY08-09 FY09-10 FY10-11 FYl1-12 Revenue @ average rate -rounded up $55,073 $59,593 $60,832 $61,896 $60,194 (includes carryover) Budget $50,554 $53,835 $54,009 $56,775 $56,374 Difference (Rounded up) $4,520 $5,759 $6,823 $5,121 $3,820 I ' Ronald McLemore April 20, 2007 Page 7 Table 9 provides the maximum annual capital assessment rates for the Oak Forest Wall capital assessment program. Table 9 Oak Forest Wall Maximum Capital Assessment Rates Maximum Annual Debt Service $51,505 $5,264 $3,573 $60,342 847 $71.22 $72.00 Professional Fees Collection Costs (Statutory Discount and Tax Collector Costs) Total Annual Assessment Amount Number of ERUs Annual Assessment AmounVERU Rounded Annual Assessment AmounVERU Because all of these proforma rates exceed the maximum rates established by the City for these assessment programs, the imposition of these proforma rates will require the City to send first class mailed notices to all affected property owners regarding the annual and maximum rates to be imposed; these mailing costs have been included in the proforma budgets. The notices would need to be mailed 20 days prior to the public hearing to adopt the annual assessment resolutions. Table 10 provides the schedule for Fiscal Year 2007-08. Table 10 Fiscal Year 2007-08 Assessment Schedule EVENT DATE GSG presents proforma rates to City Commission April 25, 2007 GSG mails out notices May 8, 2007 City to Publish Notice of Hearing to Adopt Annual May 8, 2007 Resolution City adopts annual assessment resolution May 29, 2007 GSG Certifies Assessment Roll to Tax Collector By September 15, 2007 Tax Bill Mailed November 1,2007 GSG is available to meet with you, City staff and elected officials to explain the streamlining process and results at your convenience. If you have any questions or need additional information, please call me. Sincerely, QplQk (?~ Camille P. Tharpe cc: Chris Traber, NGN Mark Brown, GSG ATTACHMENT 2 Winter Springs TLBD Assessment Programs FY 2007-2008 thru FY 2011-2012 CURRENT PROPOSED FY 2006-2007 ** FY 2007-2008 thru FY 2011-2012 Assessment Phase I * Phase II ** Combined Phase I Phase II Combined Increase Maintenance $53.14 $48.00 $101.14 N/A N/A $126.00 $24.86 Improvements - Phase 1 $40.22 N/A N/A $43.00 N/A N/A $2.78 Improvements - Phase II N/A $17.00 N/A N/A $17.00 N/A $0.00 Total $93.36 $65.00 $101.14 $43.00 $17.00 $126.00 N/A Total all Phases & Assessments $158.36 Total all Phases & Assessments $186.00 $27.64 * Please note that the FY 2006-2007 Phase I Assessment Rates are not currently being charged at the maximum rates allowable by Resolutions No. 99-887 and No. 99-888 adopted by City Commission on August 9, 1999. The maximum assessment rates adopted were $42.18 per ERU for capital and $67.82 per ERU for maintenance for a total maximum assessment of $110.00 (versus current total of $93.36). ** Please note that the FY 2006-2007 Phase II Assessment Rates are currently being charged at the maximum rates allowable by Resolution No. 2005-43 adopted by City Commission on November 14,2005.