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HomeMy WebLinkAbout06.a.5)-(Handout) CAD & AVAD update (Handout) 6•a.5) Item No. 6.a.5 Update on Contractual & Alhambra Valley Assessment Districts Curtis Swanson February 3, 2011 46 Central Contra Costa Sanitary District Contractual Assessment District (CAD) History • CAD Program from 1997 to 2004 > Budget was $1,000,000 per year > Funded 23 CADs at cost of $3.63 million > Seven CADs closed out > Outstanding principal: $877,000 >2010-11 payments: $290,000 • AVADs since 2007 for the Alhambra Valley Financed six AVADs at cost of $1.53 million > 2010 -11 payments: $197,000 > Future AVADs will continue to be approved individually by the Board 1 Recent CAD Events • CCCSD discontinued CADs in 2003 -04. • Board decided to resume CADs on a case -by -case basis in 2010. • Sunnybrook Road CAD was formed in 2010. Sewer construction is complete. • Board approved post -AVAD financing. First agreement was signed January 2011. • Hearing for Vista del Orinda CAD planned in April or May 2011. Potential CAD Projects • Significant Interest >St. Mary's Road, Lafayette ($500,000) • Lesser Interest >Cordell /Harper Lane, Danville ($1,100,000) >La Sonoma Way, Alamo ($150,000) >Jackson Way, Alamo ($650,000) >Six other areas in Orinda, Lafayette & Walnut Creek ($2,000,000) CSg) 2