Title
Auditor-Controller recommending the Board consider the following:
1) Receive and file the attached Report of Special Tax Delinquencies for Community Facilities District No. 1992-1 (CFD 1992-1 Serrano) and adopt Resolution 184-2014 authorizing judicial foreclosure of delinquent special tax installments pursuant to the CFD 1992-1;
2) Receive and file the attached Report of Special Tax Delinquencies for Community Facilities District No. 2001-1 (CFD 2001-1 Promontory) and adopt Resolution 185-2014 authorizing judicial foreclosure of delinquent special tax installments pursuant to the CFD 2001-1; and
3) Receive and file the attached Report of Special Tax Delinquencies for Community Facilities District No. 2005-1 (CFD 2005-1 Blackstone) and adopt Resolution 186-2014 authorizing judicial foreclosure of delinquent special tax installments pursuant to the CFD 2005-1.
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Fiscal Impact/Change to Net County Cost
No impact. Foreclosure costs should be reimbursed from foreclosure proceeds or funded by Special Tax proceeds collected for the CFDs.
Reason for Recommendation
The Bond Indentures for CFD 1992-1 (Serrano), 2001-1 (Promontory), 2005-1 (Blackstone) and 2005-2 (Laurel Oaks) require the Auditor-Controller to annually provide the Board of Supervisors with a list of Special Tax delinquencies relevant to these CFDs. Attached are such lists for tax year 2013 as of September 26, 2014 for CFD 1992-1 (Serrano), 2001-1 (Promontory), and CFD 2005-1 (Blackstone). There are no delinquencies for tax year 2013 in CFD 2005-2 (Laurel Oaks).
The Bond Indentures for these CFDs require the County to institute foreclosure proceedings on delinquent parcels. As of September 26, 2014 there are twenty-five (25) parcels that have unpaid special taxes for tax year 2013.
Seventeen (17) parcels are located within Serrano, five (5) parcels are located within Promontory, and three (3) parcels are located within Blackstone. Attached are the Resolutions authorizing the judicial foreclosure of these delinquent special assessment taxes. The County is currently under contract with Calfee & Konwinski as counsel for foreclosure on liens of unpaid special taxes. Upon approval of the attached Resolutions, these matters of foreclosure may be referred to counsel to begin foreclosure proceedings.
Clerk of the Board Follow Up Actions
The Board Clerk will file the attached Report of Special Tax Delinquencies for CFD 1992-1.
The Board Clerk will file the attached Report of Special Tax Delinquencies for CFD 2001-1.
The Board Clerk will file the attached Report of Special Tax Delinquencies for CFD 2005-1.
The Board of Supervisors will adopt Resolutions of the County of El Dorado ordering judicial foreclosure of delinquent special assessment installments pursuant to the CFD 1992-1, CFD 2001-1, and CFD 2005-1 Bond Indentures. The Board Clerk will forward two (2) certified Resolutions to the Auditor-Controller for processing.
Contact
Joe Harn, Auditor-Controller
Ext 5456