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1996-007-Intention To Create And Annex The Vasona Heights Area Into Landscaping & Lighting District No. 1RESOLUTION 1996 - 7 RESOLUTION OF INTENTION TO CREATE AND ANNEX THE VASONA HEIGHTS AREA INTO LANDSCAPING & LIGHTING DISTRICT NO. 1, DESIGNATE IT AS VASONA HEIGHTS BENEFIT ZONE, AND ESTABLISH A POLICY ON CAPITAL REPLACEMENT AND CREATE A RESERVE ACCOUNT FOR PREEXISTING FUNDS IN OPEN SPACE MAINTENANCE DISTRICT NO. 3 WHEREAS, property owners within the Town of Los Gatos Open Space Maintenance District #3 have asked the Town to convert that District into a Benefit Zone as shown on Exhibit A hereto and annex it to the Town's Landscaping & Lighting District #1, and WHEREAS, on January 9, 1996, the Town Council has received the Engineer's Report recommending that the Town proceed with this request and has adopted a resolution initiating the process, and these documents are on file with the Town Clerk describing the boundaries of the benefit zone and proposed assessments, and WHEREAS, this conversion would appear to result in an equitable apportionment of costs of maintaining the open space area as shown on Exhibit B hereto, and WHEREAS, there is a fund balance remaining in the Open Space Maintenance District #3 account and this fund balance should be devoted to providing maintenance and a capital reserve to the open space area for which it was assessed and deposited, and WHEREAS, while the establishment of a capital replacement fund within the Benefit Zone will mitigate some future assessment, the members understand that should capital replacement of the Benefit Zone assets, whether by catastrophe, failure, or otherwise, be necessary or desired, the property owners shall be responsible for the costs as part of the following year's assessments which is the normal procedure for Landscaping & Lighting Districts, and that the Town is not and may not be in a position to advance those replacement costs. WHEREAS, the property owners recommend that the equitable apportionment of future assessments in the new Benefit Zone should be based on a uniform and equal assessment on each parcel because each of the parcels enjoys an equivalent benefit from the open space area as shown on Exhibit B, and WHEREAS, the new Benefit Zone should be assessed only for the maintenance and upkeep of the open space area as shown on Exhibit B, and any enlargement in the purposes of this benefit zone should only occur after a resolution of intention has been adopted by the Council, a public hearing held, the increase subjected to majority protest of the property owners, and a determination by the Council then made pursuant to the procedures of the Landscaping & Lighting District Act of 1972, NOW, THEREFORE, IT IS RESOLVED AS FOLLOWS: A. The following times and places are fixed for public hearing at which time all interested persons may be heard regarding the formation of the Vasona Heights Benefit Zone as shown on Exhibit A hereto of the Town Landscaping & Lighting District #1: i. A public meeting pursuant to Government Code Section § 54594.6 at 7:30 p.m. on February 5, 1996, in the Town Council Chambers, Town Hall, 110 E. Main Street, Los Gatos, CA. ii. A public hearing pursuant to Streets & Highways Code § 22590 at 7:30 p.m. on March 18, 1996, in the Town Council Chambers, Town Hall, 110 E. Main Street, Los Gatos, CA. Written protests may be submitted until the close of the public hearing on March 18, 1996. B. The Clerk shall publish this Resolution of Intention in the Los Gatos Weekly Times pursuant to Government Code § 6061 as required by Streets & Highways Code § 22552. C. The Clerk shall also mail a notice of the public meeting and public hearing in accordance with Government Code § 54954.6(c) to the property owners within the proposed benefit zone. PASSED AND ADOPTED at a regular meeting of the Town Council of the Town of Los Gatos, California, held on the 16th day of January, 1996 by the following vote. COUNCIL MEMBERS: AYES: Steven Blanton, Linda Lubeck, Patrick O'Laughlin Mayor Randy Attaway ABSENT: Joanne Benjamin ABSTAIN: None SIGNED: MAYO F THE TOW OF LOS GATOS LOS GATOS, CALIFORNIA ATTEST: CLERK OF THE TOWN OF LOS GATOS LOS GATOS, CALIFORNIA 2 Exhibit A Assessment Diagram X39 ° O 5 U 5577 �j Oq F ISY „ryp Assessment No. —XX LANDSCAPING AND LIGHTING ASSESSMENT DISTRICT N0. I Vasona Heights Benefit Zone SYS67: \01 —TRISH \DWG \VHBZ —A.DWG Rev.: 11/27/95 R °od N�ill gloss orn SH- ,9 -ot5 A Y� D Sp' p p Z; SR9�IJ-OW �� p�t6 � U `� U Q) sze -u -ate T N J.O,> Not to Scab q Js O h3i A' ^� 9RS193 _S5 �O X39 ° O 5 U 5577 �j Oq F ISY „ryp Assessment No. —XX LANDSCAPING AND LIGHTING ASSESSMENT DISTRICT N0. I Vasona Heights Benefit Zone SYS67: \01 —TRISH \DWG \VHBZ —A.DWG Rev.: 11/27/95 Exhibit, B Open Space Areas To Be Maintained 6'ossom H-m Road sm ;yah:::::= r o ®gym U sn9 -p -uw sts, N Not to Scalc s, s 4 O ry 529- m 519 S' 28 == 6 A 06 1 o 9 / 21 Areas Maintained `rs -oJ by Vasona Heights Benefit Zone Assessment No. —xx LANDSCAPING AND LIGHTING ASSESSMENT DISTRICT NO. I Vasona Heights Benefit Zone SYS67: \01 —TRISH \DWG \VH8Z —B.DWG Rev.: 11/28/95 by T.D.