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Warner Industrial Community Assessment District <br />July 7, 2015 <br />Page 4 <br />STEP <br />TIME NEEDED <br />ACTION <br />4 <br />2 to 3 Months <br />Distribute the assessment ballots to the property owners along with <br />notice of the public hearing. City Council holds the public hearing as <br />scheduled. Upon the conclusion of the public hearing, the <br />assessment ballots will be tabulated. Votes are weighted by the <br />amount assessed. The "yes" votes are totaled by the sum of their <br />individual and respective assessment amounts and compared to the <br />sum of the "no" votes, with the higher amount prevailing. <br />5 <br />1 to 2 Months <br />If the ballots support the formation of the AD, City Council may <br />resolve to form the AD and order the levy of assessments based on <br />the Engineer's Report. City Council action is required to commit the <br />City's portion of the project funding and award the construction <br />contract. Construction could begin soon thereafter. <br />6 <br />2 to 3 Months <br />Construct and complete the AD improvements. <br />If the process concludes with the property owners ultimately approving formation of this AD, land - <br />secured financing will be used to fund the pavement rehabilitation project. Factors such as <br />business type, size, and location have to be considered in the methodology used to prepare the <br />Draft Engineer's Report. The assessments must be in proportion to the special benefit that each <br />property receives. The City's share of the project costs will be funded by a combination of <br />Pavement Impact, Measure M2, and other related transportation funds. Developing this cost <br />distribution will require the combined efforts of City staff, financial consultants, and bond counsel. <br />On November 21, 2013, the City issued a Request for Qualifications for financial advisory <br />services and on January 21, 2014, City Council approved a master agreement with Fieldman, <br />Rolapp & Associates (FR&A). Staff recommends that Fieldman, Rolapp & Associates be <br />approved to provide financial advisory services for establishment of the proposed Warner <br />Industrial Assessment District in an amount not to exceed $36,000. (See Exhibit 3.) <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #6 Community Facilities & <br />Infrastructure, Objective #1 (establish and maintain a Community Investment Plan for all City <br />assets), Strategy G (develop and implement the City's Capital Improvement Program in <br />coordination with the Community Investment and Differed Maintenance Plans). <br />12A -4 <br />