1. Presented to: Stockton City Council June 19, 2007 Agenda Item 9.02
Proposed Formation City of Stockton Northbrook Community Facilities District No
Presented to:
Stockton City Council
June 19, 2007
Agenda Item 9.02

2. Prior Action
On April 10, 2007 Council adopted Resolutions to form this district, including:
Approval of the boundary map
Intention to form a Community Facilities District and Levy a Special Tax
Declaring the necessity to incur bonded indebtedness within the proposed Community Facilities District
Set a Pubic Hearing of protest on May 15, 2007 which was subsequently continued until tonight
If the Community Facilities District is approved and when bonds are eventually issued, they will not be debt of the City

3. The Project
Woodside Homes and Wayne LeBaron (the Developers) are proposing to develop a 78 acre master plan development project known as Northbrook:
380 single family homes
140 multi-family units

4. Proposed District Boundaries

5. Special Tax Formula
Each taxable parcel within the proposed Community Facilities District will pay an annual special tax based on the Special Tax Formula:
Debt service (principal and interest)
Administrative expenses
Replenishment of the reserve fund
The maximum annual Special Tax in the proposed project area is:
$1,200 per single-family residence
The maximum annual special tax for multi-family units will be $800

6. The Public Hearing Tonight’s election is by landowner:
Election conducted by a hand delivered ballot
At the conclusion of tonight’s hearing, the City Clerk will announce the results
Protests should be limited to persons owning real property within the proposed Community Facilities District. Protests are limited to:
Boundaries of the proposed district
Types of public facilities within the proposed district

7. Bonded Indebtedness
Bonds associated with the formation of the Community Facilities District are not being sold at this time:
It is anticipated that Council will consider directing the execution of certain financing documents later this year
The details associated with the sale of bonds will be presented and reviewed by Council at that time

8. Recommended Actions
At the conclusion of the Public Hearing adopt three resolutions:
Form the Community Facilities District and to levy a special tax
Intent to incur bonded indebtedness within the CFD in an amount not-to-exceed $12.5 million
Conduct a special election and declare the results of the election
Adopt an Ordinance levying a special tax within the City of Stockton Northbrook Community Facilities District No

9. Formation Team Bond Counsel Financial Advisor The Developers
Stradling, Yocca, Carlson, & Rauth
Financial Advisor
Kelling, Northcross & Nobriga
The Developers
Woodside Homes
LeBaron