HomeMy WebLinkAboutF- 7 RFQ for Tax Administration ServiceCONSENT CALENDAR
TO: THE HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: STEVE KENOYER, ACTING FINANCE DIRECTOR
VIA: ROBERT PERSON, ASSISTANT CITY MANAGER
DATE: MARCH 17, 2003
SUBJECT: RFQ FOR TAX ADMINISTRATION SERVICES – MOUNTAIN COVE CFD
RECOMMENDATION
It is recommended that City Council approve the Request for Qualifications for Tax
Administration Services for the City of Azusa Community Facilities District No. 2002-1
(Mountain Cove).
BACKGROUND
The City Council established the City of Azusa Community Facilities District 2002-1 (Mountain
Cove) on April 15, 2002. Additional territory was annexed to the District on October 21, 2002.
On December 19, 2002, Special Tax Bonds in the amount of $8,980,000 were sold.
In order to have the CFD pay for itself, there is a need to administer the special taxes related
to the District. We feel that a consultant would best provide these services and we would
like to open a Request for Qualifications to select a reliable and qualified consultant. The
potential consultant will calculate the Special Tax Requirement, prepare financial reports for
the CFD, submit the Special Tax Levy to Los Angeles County, respond to property owner
questions, act as a dissemination agent, and prepare all continuing disclosure documents.
FISCAL IMPACT
There is no direct impact on City finances due to the fact that the fees for the tax
administration services (between $10,000 - $12,000 per year) will be charged to the CFD.