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