Novato-Pacheco Valle Community Facilities District Bond Issue and Parcel Tax, Measure A (April 2014)

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A Novato-Pacheco Valle Community Facilities District Parcel Tax, Measure A ballot question was on the April 8, 2014 election ballot for voters in Novato-Pacheco Valle Community Facilities District in Marin County, California, where it was overwhelmingly approved.

This measure authorized the Novato-Pacheco Valle Community Facilities District to incur $600,000 in new debt, designed to be paid off in 15 years. It also imposed a parcel tax amounting to $6.58 per month for condo/townhouse owners, $20.67 per month for single family homeowners and $325.5 per month for commercial building owners. These taxes were designed to be in place for the 15-years life of the loan. Measure A, in addition, established an appropriations limit for the district in the amount of $64,328 per year.[1]

The bond money authorized by the approval of Measure A was earmarked to finance the purchase of property at the entrance to Pacheco Valle in order to preserve it as permanent open space.[1]

A 2/3rds supermajority vote was required for the approval of this measure.

Election results

Measure A
ResultVotesPercentage
Approveda Yes 584 95.58%
No274.42%
Election results from Marin County elections office.

Text of measure

Ballot question

The question on the ballot was:[1]

To finance acquisition of property at the entrance to Pacheco Valle by Marin County Opoen Space District for permanent open space and no other purpose, shall City of Novato incur indebtedness not exceeding $600,000 for City of Novato Community Facilities District No. 2014-I (Pacheco Valley Area) and levy a special tax annually on each parcel within the District, as described in Resolution No. 3-14 (see ballot Pamphlet), for no more than 15 years and in any event no later than fiscal year 2033-34, subject to appropriation limit?[2]

Analysis

Novato City Attorney Jeffrey A. Walter prepared the following impartial analysis of Measure A:[1]

On January 7, 2014, the City Council of the City of Novato ("City") established its City of Novato Community Facilities District NO. 2014-1 (Pacheco Valle Area) ("District") pursuant to the Mello-Roos Community Facilities Act of 1982 (California Gov. Code Section 53311 et seq.) ("Mello-Roos Act"). The District was formed to finance the acquisition of property at the entrance to Pacheco Valle by Marin County Open Space District for permanent open space ("Financed Property").

This ballot measure:

(i) authorizes the City, on behalf of the District, to incur an indebtedness and issue bonds or other debt (as defined in the Act; collectively, "Bonds") in an aggregate principal amount not to exceed $600,000 with interest at a rate or rates not to exceed the maximum interest rate permitted by law at the time of sale of such Bonds for the purpose of acquiring the Financed Property and paying for the costs of issuing the Bonds and related expenses:

(ii) authorizes the City to levy a special tax on taxable property within the District for no more than 15 years and in no event later than fiscal year 2033-34, to pay for debt service on the Bonds, the City's costs in administering the District, and the costs of acquiring the Financed Property; and

(iii) establishes an annual appropriations limit for the District in the amount of $64,328.

The ballot measure is being placed on the ballot by the City Council. The qualified electors in this election are the registered voters in the District. In order to pass, this measure must be approved by two-thirds of the votes cast. If the measured is approved, each parcel within the District would be subject to a special tax according to the Amended and Restated Rate and Method of Appointment of Special Tax ("Rate and Method") set forth in Resolution No. 3-14 of the City's City Council ("Resolution"). If the measure is approved, upon recordation of a notice of special tax lien in accordance with applicable law, a continuing lien to secure the levy of the special tax would attach to all nonexempt property in the District.

The City Council has adopted the following accountability measure with respect to this ballot measure: (a) the specific purpose of the Bonds is set forth in the ballot measure; (b) any proceeds received from the sale of any Bonds shall be applied only to the purposes set forth in the measure; (c) the proceeds of any Bonds shall be deposited into special accounts to be created therefor as part of the issuance of the Bonds; and (d) the City shall cause a report to the prepared annually under Section 53411 of the Government Code.

Reference is made to the Resolution for a complete description of the boundaries of the District, nature of the Financed Property, and Rate and Method. [2]

—Novato City Attorney Jeffrey A. Walter, [1]

Support

Supporters

Below is a list of supporters who signed the official argument in favor of Measure A:[1]

  • Peter Logan, Preserve Pacheco Valle Meadow Committee
  • Rikki Baum, Preserve Pacheco Valle Meadow Committee
  • Patrick MaCleamy, Preserve Pacheco Valle Meadow Committee
  • Marjorie Goodman, Preserve Pacheco Valle Meadow Committee
  • Jack Van Horn, Pacheco Valle Resident

Arguments in favor

The following was submitted as the official argument in favor of Measure A:[1]

Pacheco Valley residents are blessed to live in an area surrounded by open space of stunning natural beauty abounding with native trees and wildlife. In this election, we ask you to SUPPORT a measure to extend open space protection to the last remaining parcels now zoned for development - the meadow at the Valle Entrance and the hillside and creek parcels near the former Marin Independent Journal building - 15 acres in all. the Marin County Open Space District will own and maintain the property in perpetuity at no direct cost to Valle residents.

As part of our semi-annual property taxes, each homeowner is being asked to pay an affordable amount over 15 years to finance the land purchase. Monthly costs will be no more than $6.58 for condo/townhouse owners and no more than $20.67 for single family homeowners. The sole commercial building owner will pay $325.50. These costs will remain fixed over the 15-year term. Shortly after the election, homeowners will also have a one-time option to pay their entire tax liability up front, thereby saving interest and administrative costs otherwise paid over time.

This is a once in a lifetime opportunity. The corporate owner has agreed to sell the property at a price far below the land's market value. Interest rates may never be lower. Meanwhile, development pressures are real and growing throughout Marin, especially buildable land near the freeway. If we fail to act now, we will have no control over what will be build on these parcels in the future.

These are the final jewels in the crown of open space that make Pacheco Valle so special. Please vote YES to keep this land open and beautiful, for ourselves and for future generations, forever. [2]

—Peter Logan, Rikki Baum, Patrick MaCleamy, Marjorie Goodman and Jack Van Horn, [1]

Opposition

No official argument was submitted in opposition to Measure A.

See also

External links

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References

  1. 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 Smartvoter.org, "Marin County April 8, 2014, ballot measures," accessed February 26, 2014
  2. 2.0 2.1 2.2 Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.