HomeMy WebLinkAbout27 - CIOSA Annual ReportJune 26, 2001
CITY COUNCIL AGENDA
ITEM NO. 27
TO: Mayor and Members of the City Council
FROM: Public Works Department
SUBJECT: THE CIRCULATION IMPROVEMENT AND OPEN SPACE AGREEMENT
( CIOSA) ANNUAL REPORT
RECOMMENDATION:
Receive and file.
DISCUSSION:
In June 1993 the City of Newport Beach and The Irvine Company entered into the
Circulation Improvement and Open Space Agreement ( CIOSA). This development
agreement provided for the future development of the Irvine Company's remaining
properties in Newport Beach, along with a commitment to dedicate 147 acres of open
space and provide at least $20,600,000 for circulation system improvements. A CIOSA
Improvement District was formed to finance the improvements through a special tax on
the properties to be developed. In December 1995, the City and the Irvine Company
executed a CIOSA Protocol Agreement that provided implementation details for the
financing of the obligations of the original agreement.
This annual report summarizes the expenditures funded through the CIOSA
Agreement. There are three components to the CIOSA funding: Fairshare Contribution,
Frontage Improvements, and the Advance (Loan). The Fairshare Contribution covers
the Fairshare Fees due for the properties developed under the agreement. This
amount was $1,398,428 and was deposited in the City's Circulation and Transportation
Fund. The second component, Frontage Improvements, covers the costs of
constructing arterial roadway improvements adjacent to the developed properties
pursuant to the agreement. This amount was originally estimated to be $4,806,000 but
the actual cost was $522,360. The final component, the Advance (Loan), was to be
used to help advance the construction of improvements to the City's Circulation
Element of the General Plan. The total available to the City is $14,395,572. This
Advance of funds is considered to be a loan, which is repaid annually from 50 percent
of the Fairshare receipts. To date $9,761,174 of the Advance has been utilized with
$4,634,393 remaining.
Revenues have been generated from the CIOSA Improvement District through two
bond issues, bond prepayments, interest, and loan repayments from the City.
SUBJECT: The Circulation Improvement and Open Space Agreement (CIOSA) Annual Report
June 26, 2001
Page 2
Presently the revenues exceed the Advance balance by about $400,000 and this
amount will be used to repay the bonds.
The attached Exhibit 1 details CIOSA funding.
Exhibit 1A details Frontage Improvement expenditures.
Exhibit 1 B lists Possible Future CIOSA Projects that could be funded with the remaining
$4,634,393 in CIOSA Advance (Loan) funds. The projects listed have been submitted
and approved by The Irvine Company.
Exhibit 1C details where $14,981,534 in CIOSA funds has been used to date.
On May 31, 2001, the attached CIOSA Protocol Agreement Memorandum Exhibit
Number 1 was submitted to the Irvine Company to clarify and further define several
items in the Protocol Agreement. These items related to Dover Drive and other
improvements next to the Castaways development, the final Frontage Improvement
costs, the El Paseo Storm Drain, and the Possible Future CIOSA Projects list. No
objections were received from The Irvine Company, and therefore this Memorandum is
now an Exhibit to the Protocol Agreement.
This report fulfills the requirements of the CIOSA Agreement to provide the City Council
with an annual review of the expenditures related to the circulation system
improvements and the revenues generated from the CIOSA Improvement District.
Respectfully submittedJ""
�r
PUBLIC WORKS DEPARTMENT
Don Webb, Director
Attachments: Exhibit 1: CIOSA Funding with exhibits 1A, 113, and 1C
CIOSA Protocol Agreement Memorandum Exhibit Number 1
CIOSA FUNDING
ADOPTED FUND SPLIT
Fairshare Contribution $1,398,428
Frontage improvements $4,806,000
Advance (Loan) Amount $14,395,572
Total CIOSA Agreement $20,600,000
CIOSA EXPENDITURES
Fairshare Contribution $1,398,428
Frontage Improvements $5,220,360
Advance to 1 June 2001 $9,761,174
Total $16,379,962
ADVANCE BALANCE
Advance (Loan) Amount $14,395,572
Expended to 1 June 2001 $9,761,174
Advance (Loan) Remaining $4,634,398
CIOSA REVENUES
Series A Bond $6,150,000
Series B Bond $8,000,000
Prepayments $4,615,420
Loan Repayment (Fairshare) $1,615,865
Loan Repayment (Fairshare) 2000/01 $240,000
Interest $789,301
Total $21,410,586
CIOSA FUNDS AVAILABLE
CIOSA Revenue $21,410,586
CIOSA Expenditures $16,379,962
Total $5,030,624
ADVANCE(LOAN)REPAYMENT
Advance Expended $9,761,174
Fairshare Loan Repayment $1,855,865
Balnce Remaining $7,905,309
EXHIBIT 1
06/18/2001
CIOSA FRONTAGE IMPROVEMENTS
EXHIBIT 1A
06/18/2001
f:users /pwd /shared /CIOSA/CIOSA ACCOUNTING /Frontage Impw
ESTIMATED COST
PROPERTY
EXHIBIT "C'
ACTUAL COST
San Diego Creek South
$400,000
$536,452
(Baypoint Apts. Tr 14980)
(Jamboree Rd /University Dr)
Upper Castaways
$600,000
$395,186
(Castaways Tr 15012)
(Dover Dr /16th St)
Passive Park Access
$304,000
Newporter North
$300,000
$478,572
(Harbor Cove Tr 15011)
Jambore Rd /San Joaquin Hills Rd)
Block 800
$130,000
$130,150
(The Colony Tr 15178)
(San Clemente /Santa Cruz Traffic Signal)
Freeway Reservation
$1,260,800
$1,260,800
(Bonita Canyon Sports Park West)
(1/2 Section MacArthur Blvd)
Other Projects - 1/2 Section MacArthur Blvd.
Newport Villiage (CdM Plaza, OS N. of Library)
$807,000
$807,000
Big Canyon Area 16 (Big Canyon Villas Tr 12105)
$1,308,200
$1,308,200
TOTAL
$4,806,000
$5,220,360
EXHIBIT 1A
06/18/2001
f:users /pwd /shared /CIOSA/CIOSA ACCOUNTING /Frontage Impw
w
J
m
N
a
O
N
co
O
m
fG
2
X
w
f0
O
O
O
O
NO
°
O
co
O
co
bli
fA
O
p
O
0
N
It
w
w
Z
N
0
0
O
°
°-
o°
O
Z
o
N
M
(+O)
LL
fA
Fy
N
O_
°o_
°o
°o_
w
°
N
°o
o
°o
c7
°°o_
O
0
Q
Vi
Vi
Vi
O
�
O
O
O
O
O
O
O
N
°
O
N
7
O
O
O
7
O
co
Cq
Vi
Vi
N
fA
O IO
O O
'o.
O
O
,OI
I O
O
O
O
O
IOC
O
O
O
O
O
J
Q
to
lol ,o
0
0
0
0
0
,O
0l
0
0
0
0
0
0
0
o
O; i0
O I V,
ICI
10
V
O
I N
N
O
i0
V
O
0 I
O
O
N
0
MI
I
�,
N
69
69
691
L6
N
69
o O' 'O 0
IO
O
O
O
(n
O O IO
10
O
O
O
w 0
S Z
O O O
ICOO
O
M
O
O
O
N V
NI co 1NI I�
69i 69) 69, 69
NI
V
d)
CO
LL
1
69
,
i0_.. O;
_
O
Q N
Oi O' O
o O o' .o.
Ol
O
O
N Z
0
101 I"T! I00I ; IV
10. 'N 'a0�
'IT
O
I0
O
co
=
.NI
,V
L
00
co
' I I
`o
N
O 1 U C
r
U
°OIC1 (51 U O
1
vl
I—
V
o, Q) 3 Y
1 EI 1•C' NI o m
m
O
o
w
7
Q j a
OI N1 ?1 C N is
m
•Vr
O
a � j >
�, 'LI is �' >
"'I
N
d
1 mI
l Ni a .•C NI >.
o
=I
O
O
N N
.LIL C, C. U
UI
>.
m
L
�. tij I zl i0- Ix1 IL'I
r
L I� N� I �I yi Q�
El v v OI �I
•- OI I �,
Q
31
N
N
v-
-
c0, 1� I'-
�; �I IU. �:
z.
j
1 -1
CI
O
N
co
O
m
fG
2
X
w
CIOSA IMPROVEMENTS
EXHIBIT 1C
f:users /pbw /shared /CIOSA/CIOSA ACCOUNTING /Improvment Cost 06118/2001
Advance
PROPERTY
Frontage
(Loan)
Total
San Diego Creek South
$536,452
$20,000
(Baypoint Apts. Tr 14980)
(Jamboree Rd /University Dr)
$556,452
Upper Castaways
$395,186
$304,000
(Castaways Tr 15012)
(Dover Dr /16th St)
Passive Park Access
$304,000
$1,003,186
Newporter North
$478,572
(Harbor Cove Tr 15011)
Jambore Rd /San Joaquin Hills Rd)
$478,572
Block 800
$130,150
(The Colony Tr 15178)
(San Clemente /Santa Cruz Traffic Signal)
$130,150
MacArthur Blvd. Widening Coast Hw /Ford Road
Freeway Reservation
$1,260,800
(Bonita Canyon Sports Park West)
(1/2 Section MacArthur Blvd)
Other Projects - 1/2 Section MacArthur Blvd.
Newport Villiage (CdM Plaza, OS N. of Library)
$807,000
Big Canyon Area 16 (Big Canyon Villas Tr 12105 )
$1,308,200
MacArthur Blvd. Widening- Circulation El Improvement
$1,958,584
Big Canyon Screen Wall
$65,000
$5,399,584
Coast Hwy /Newport Blvd. (Arches Interchange)
$4,441,637
Lower Big Canyon Mitigation area
$15,843
$4,457,480
El Paseo Storm Drain
$2,602,455
$2,602,455
Dover Dr /18th St/ Castaways Ln Traffic Signal
$62,000
$62,000
Birch Street Bridge Widening over SR 73
$291,655
$291,655
TOTAL
$5,220,360
$9,761,174
$14,981,534
EXHIBIT 1C
f:users /pbw /shared /CIOSA/CIOSA ACCOUNTING /Improvment Cost 06118/2001
PRO WC01, AGREE \'I t;N'C �IENOR: \ \UU�I
EX141BIT NUMBER 1
May 31, 2001
The Circulation and Open Space Agreement ( CIOSA) Protocol Agreement (executed
December 11, 1995) in Section 5(H) provides for a memorandum to be prepared and
attached to the agreement, which will memorialize implementation decisions reached
pursuant to Section 5 — CIOSA Improvements/Procedures of the agreement. Section
I(A) — Definitions: Frontage Improvements also provides for the term Frontage
Improvement to be clarified in a memorandum. It is the intent of this memorandum to
clarify Frontage Improvement definitions and to memorialize several implementation
decisions.
FRONTAGEIMPROVEMENTS
Exhibit "C" of the CIOSA generally lists the properties and the frontage improvements
that are attributed to that development. As of the date that this memorandum has been
prepared, all of the frontage improvements have been completed. See attached Exhibit
IA — CIOSA Frontage Improvements. The cost estimates for four of the property's
frontage improvement have been exceeded by a total of $414,360, as follows:
Property Exhibit C Estimate Actual Cost
San Diego Creek South $400,000 $536,452
(Bay Pointe Tr. 14980)
Upper Castaways $600,000 $699,186
(Castaways Tr. ISO 12)
Newporter North $300,000 $478,572
(Harbor Cove Tr. 15011)
Block 800 $130,000 $130,150
Totals $1,430,000 $1,844,360
It is agreed that for the purposes of defining the final cost of the Frontage Improvements,
that the total estimated costs for all properties as shown in Exhibit "C" of the CIOSA of
$4,806,000 will be increased by $414,360 to a final total cost of $5,220,360. In
processing the payments for these Frontage Improvements, The Irvine Company has
agreed that the total amount to be made available for circulation improvements will also
be increased by the same amount (from $20,600,000 to $21,014,360).
For the Upper Castaways property (Castaways Tract 15012) the Frontage Improvements
were generally described as widening Dover Drive northerly of 16'h Street ($300,000)
and grading for future widening of Dover Drive between Cliff Drive and 16'h Street
($300,000). In the planning and permitting process it became apparent that the Dover
- 11%(:1:2_ -111110 1O(Y)1. MOMIENIEN'I \ EMOR,\,\I)t'M
Drive improvements would need to be modified to include intersection work :It 16 °i SIIect
and the approach to the Castaways Tract (now called Castaways Lane). Also right of
way was provided for the future widening Of Dourer Drive and the improvements were
modified appropriately. The intersection of Dover Drive and Wcstciiff Drive was also
significantly improved to better transition the flow of traffic. These improvements cost a
total of $699,196. Because some of the improvements were beyond the scope of frontage
improvements the following split in costs were made for improvements northerly of 16'h
street: Frontage Improvements - $395,186 and Advance (Loan) Improvements -
$304,000. The anticipated Dover Drive grading between Cliff Drive and 16'h Street was
to accommodate the access road to the Upper Castaways Passive Park. Due to
environmental issues brought out in the development process, the park access was
relocated to 16''' Street (now Castaways Lane). The City was required to exchange
property and re -grade an area adjacent to Dover Drive to provide the necessary park
access at a cost of $304,000. This amount is also considered to be a part of the Upper
Castaways, Dover Drive Frontage Improvements.
IMPLEMENTATION DECISIONS
Pursuant to Section 5(H) of the Protocol Agreement this section will memorialize the
following described implementation decisions relating to CIOSA improvements.
El Paseo Storm Drain: This project provides the required added capacity for storm water
runoff from the new developments in the Corporate Plaza West, Corporate Plaza, and
Newport Village CIOSA properties. The storm drain expansion between East Coast
Highway and the Newport Bay will mitigate drainage problems along East Coast
Highway that would have impacted traffic flow on this roadway if the storm drain were
not expanded. At the request of the Irvine Company, the City agreed to use CIOSA
Advance funds for the storm drain construction in conjunction with The Irvine
Company's approval of the City's proposal for the development of the San Diego Creek
North property as an automobile dealership.
Future Proiects: As of June 1, 2001 approximately $4,678,000 of CIOSA Advance funds
remain available for the construction of circulation system improvements in the future.
Attached as Exhibit 113 is a list of "Possible Future CIOSA Projects ", which includes an
estimated date that the funds would be utilized. It is recognized that the estimated costs
and dates of construction may vary. This list has been submitted to the Irvine Company
for review. One of the projects, MacArthur Boulevard — West park Open Space is a
continuation of the MacArthur Boulevard widening project. This project will provide for
landscaping in the Freeway Reservation CIOSA property that was partially graded and
left without landscaping when the roadway was widened. It is considered to be an
environmental mitigation measure for the roadway project. A project not previously
listed is the Coast Highway /Jamboree View Corridor. This project will provide for
grading and landscape improvements to the Bayview Landing CIOSA property. These
improvements will create a view of the Upper Newport Bay from both Coast Highway
and Jamboree Road. The view corridor will enhance the roadside areas.
IAUscrsU'bA 0,arcd\C'IOSAKIOSA ACCOUNI'INGWroto of Exhlbitdo
5/3112001
- VAGF.3 - IBOr0001.:�(:NF;F: ?1F;ST ?1F: ?K)lt:�]'ntl ?I
EX1116IT NUM111E1Z I
Most of the circulation related inlprovcnlcnts identified in the Traffic Study have been
completed with CIOSA and other funds. Projects number I and 2 listed in Exhibit I -
"Possible Future CIOSA Projects" were included in the Traffic Study. The remainder of
the projects listed are circulation related improvements in addition to those included in
the Traffic Study.
2001 Annual Review: Attached as Exhibit I C — CIOSA Improvements is a summary of
the CIOSA expenditures, as of June 1, 2001, showing the split between Frontage
Improvements and Advance (Loan) funds. This will be presented to the City Council as
part of the annual review indicating that the projects listed have been accepted.
This Protocol Agreement Memorandum Exhibit Number I was submitted to the Irvine
Company on May 31, 2001 and as of June 11, 2001 no objections were received. In
accordance with the conditions of the Protocol Agreement, it is deemed that the Company
has consented to the improvements described in this memorandum. This memorandum
will be submitted to City Council in conjunction with the annual review of CIOSA.
I certify that the Protocol Agreement Memorandum Exhibit Number
1 was personally delivered to Norman W. Witt Jr., Vice President,
Irvine Community Development Company, The Irvine Company at
550 Newport Center Drive, Newport Beach, California on May 31,
2001 and that as of June 11, 2001, no objections to the contents of the
Memorandum were received from The Irvine Company. In
accordance with the terms of the CIOSA Protocol Agreement, this
Memorandum is now a part of the Protocol Agreement as
Memorandum Exhibit Number 1.
kvx(—
June 11, 2001
Don Webb
Public Works Director
City of Newport Beach
I: \Uscr \llbw)Sharcd \CIOSA \CIOSA ACCOUNTING\Proiocol 5xhibir.doc
6/1112001
CIOSA FRONTAGE IMPROVEMENTS
EXHIBIT 1A
05131/2001
(:users/pwd /shared /CIOSA/CIOSA ACCOUNTING /Frontage Impry
ESTIMATED COST"
PROPERTY
EXHIBIT "C"
ACTUAL COST
San Diego Creek South
$400,000
$536,452
(Baypoint Apts. Tr 14980)
(Jamboree Rd /University Dr)
Upper Castaways
$600,000
$395,186
(Castaways Tr 15012)
(Dover Dr /16th St)
Passive Park Access
$304,000
Newporter North
$300,000
$478,572
(Harbor Cove Tr 15011)
Jambore Rd /San Joaquin Hills Rd)
Block 800
$130,000
$130,150
(The Colony Tr 15178)
(San Clemente /Santa Cruz Traffic Signal)
Freeway Reservation
$1,260,800
$1,260,800
(Bonita Canyon Sports Park West)
(1/2 Section MacArthur Blvd)
Other Projects - 1/2 Section MacArthur Blvd.
Newport Villiage (CdM Plaza, OS N. of Library)
$807,000
$807,000
Big Canyon Area 16 (Big Canyon Villas Tr 12105)
$1,308,200
$1,308,200
TOTAL
$4,806,000
$5,220,360
EXHIBIT 1A
05131/2001
(:users/pwd /shared /CIOSA/CIOSA ACCOUNTING /Frontage Impry
U
W
O
a
a
O
U
LU
Ir
D
D
LL
U.l
J
m
a
O
O
N_
f")
O
m
F
CD
X
W
-
-TflTl
O
O
O
O
{p
O
O
O
o
O
O
O
O
N
pi
Qi
O
O
0
W
an
O
O
00
O
p
Q
W
N
»
W
Z
O
O
0
o
O
O
Z
O
O_
0
0
0
0
0
CT
l-
N
f9
�
fA
�
Q
O
460
O
O
O
O
O
O
O
N
O
O
O
O
O
O
O
°
O
a
O
O
O
O
W
460
460
bl�
69
69
69
cli
io
to
o;
;oi
IO!
o;
i0
!o!
IoI
o
J
o
0
0:
of
O;
O;
jo
O
'O:
'OI
:'O
I'Oi
Ico;
101
iO
O j I
CO
O
O
iV'V
iN!
COi
169.
Vl
iLI
IOI
LO
.Mi
.CplM{
iN.
:EA'
:EA;
Iln
r
EA
:69
EA:
N
•
69
O
•.O. O; .' i0i
O O
0
0:
o;
o
:o
Oi
o
W
p
o'
'.o:
'C)
.
o
o
C5
C)i
S
z
O.
N:
co
.�'
O.
,COi
O
:V
v
M
or
NI
O
CF)
•N'
'COi
•N:
CO
O
LL
'EA.
;EA.
1691
:691
!69
1
69
- -
--
- IC)
O
I O
iO
I ; O
I O
I O
I
O
1
O
O
O
O
Zo;
O
ICS
C)l
o:
to
0
0
0
O'
CO
v
1 N.
of
co
O
co
Iv!
I M
O
I V
In
�O
O
m
CO
U
u
1691
69j
69
;691
i69I
V),
69
EA
j
I
I
N
1
U
ca
I
I
im
I
I
Ir
0
oI
oI
c
u
N
iD
IU
OI
ci
W
>
!
;51
OI
°
i
o
W
E
ca
1 -0i
of
a):
LL
�.
�.
m'
.�:
;I
g
C
U
E
ca
ca
U
.2
Z
N
M
V
Cn
CO
Il-
co
O
O
N_
f")
O
m
F
CD
X
W
CIOSA IMPROVEMENTS
EXHIBIT 1C
f:users /pbw /shared /CIOSA/CIOSA ACCOUNTING /Improvment Cost 0513112001
Advance
PROPERTY
Frontage
(Loan)
Total
San Diego Creek South
$536,452
(Baypoint Apts. Tr 14980)
(Jamboree Rd /University Dr)
$536,452
Upper Castaways
$395,186
$304,000
(Castaways Tr 15012)
(Dover Dr /16th St)
Passive Park Access
$304,000
$1,003,186
Newporter North
$478,572
(Harbor Cove Tr 15011)
Jambore Rd /San Joaquin Hills Rd)
$478,572
Block 800
$130,150
(The Colony Tr 15178)
(San Clemente /Santa Cruz Traffic Signal)
$130,150
MacArthur Blvd. Widening Coast Hwy/Ford Road
Freeway Reservation
$1,260,800
(Bonita Canyon Sports Park West)
(1/2 Section MacArthur Blvd)
Other Projects - 1/2 Section MacArthur Blvd.
Newport Villiage (CdM Plaza, OS N. of Library)
$807,000
Big Canyon Area 16 (Big Canyon Villas Tr 12105 )
$1,308,200
MacArthur Blvd. Widening- Circulation El Improvement
$1,936,361
Big Canyon Screen Wall
$65,000
$5,377,361
Coast Hwy /Newport Blvd. (Arches Interchange)
$4,441,637
Lower Big Canyon Mitigation area
$14,093
$4,455,730
El Paseo Storm Drain
$2,602,455
$2,602,455
Dover Dr /16th St/ Castaways Ln Traffic Signal
$62,000
$62,000
Birch Street Bridge Widening over SR 73
$291,655
$291,655
TOTAL
$5,220,3601
$9,717,2011$14.937,561
EXHIBIT 1C
f:users /pbw /shared /CIOSA/CIOSA ACCOUNTING /Improvment Cost 0513112001