Draw on Reserve or Default Report
Northstar Community Services District CFD No 1 Mello-Roos Community Facilities Districts
This report is based on unaudited information reported to the California Debt and Investment Advisory Commission pursuant to Government Code Section 53359.5(c) from sources considered to be reliable. The Commission is not liable for inadvertent errors or omissions that are reported as part of these reports.
Issuer: Northstar Community Services District CFD No 1
County: Placer
Project: The Village
Original Sale Date: 12/8/2005
CDIAC Number: 2005-1575
Type of Event: Draw on Reserve
Date of Event: 3/1/2021
Amount Withdrawn: $ 965,252.19
Contact: Andrew Shannon, Goodwin Consulting Group Inc.
Phone Number: (916) 561-0890
Comments:
As a result of significant delinquencies in the payment of the fiscal year 2020-21
special taxes, the Trustee was required to withdraw a total of $965,252.19 from
the reserve fund in order to pay the debt due on March 1, 2021.Reserve shared
between CDIAC Nos 2005-1575, 2006-1389 and 2014-0954. The reserve draw
reported above is the combined amount for all three bonds.
Date Received: 3/5/2021
Date posted to this website:
Thursday, April 1, 2021
Issuer: Northstar Community Services District CFD No 1
County: Placer
Project: The Village
Original Sale Date: 12/7/2006
CDIAC Number: 2006-1389
Type of Event: Draw on Reserve
Date of Event: 3/1/2021
Amount Withdrawn: $ 965,252.19
Contact: Andrew Shannon, Goodwin Consulting Group Inc.
Phone Number: (916) 561-0890
Comments:
As a result of significant delinquencies in the payment of the fiscal year 2020-21
special taxes, the Trustee was required to withdraw a total of $965,252.19 from the
reserve fund in order to pay the debt due on March 1, 2021.Reserve shared between
CDIAC Nos 2005-1575, 2006-1389 and 2014-0954. The reserve draw reported
above is the combined amount for all three bonds.
Date Received: 3/5/2021
Date posted to this website:
Thursday, April 1, 2021
Issuer: Northstar Community Services District CFD No 1
County: Placer
Project: The Village
Original Sale Date: 7/24/2014
CDIAC Number: 2014-0954
Type of Event: Draw on Reserve
Date of Event: 3/1/2021
Amount Withdrawn: $965,252.19
Contact: Andrew Bavender, Goodwin Consulting Group Inc.
Phone Number: (916) 561-0890
Comments:
As a result of significant delinquencies in the payment of the fiscal year 2020-21
special taxes, the Trustee was required to withdraw a total of $965,252.19 from
the reserve fund in order to pay the debt due on March 1, 2021. Reserve shared
between CDIAC Nos 2005-1575, 2006-1389 and 2014-0954.
Date Received: 3/1/2021
Date posted to this website:
Thursday, April 1, 2021
Issuer: Northstar Community Services District CFD No 1
County: Placer
Project: The Village
Original Sale Date: 12/7/2006
CDIAC Number: 2006-1389
Type of Event: Draw on Reserve
Date of Event: 9/1/2020
Amount Withdrawn: $ 3,676,471.48
Contact: Andrew Shannon, Goodwin Consulting Group Inc.
Phone Number: (916) 561-0890
Comments:
As a result of significant delinquencies in the payment of the fiscal year 2019-20 special taxes, the Trustee was required to withdraw a total of $3,676,471.48 from the reserve fund in order to pay the debt service due on September 1, 2020 on the above-captioned bonds. Reserve shared between CDIAC Nos 2005-1575, 2006-1389 & 2014-0954. The reserve draw reported above is the combined amount for all three bonds.
Date Received: 10/9/2020
Date posted to this website:
Thursday, October 8, 2020
Issuer: Northstar Community Services District CFD No 1
County: Placer
Project: The Village
Original Sale Date: 12/8/2005
CDIAC Number: 2005-1575
Type of Event: Draw on Reserve
Date of Event: 9/1/2020
Amount Withdrawn: $ 3,676,471.48
Contact: Andrew Shannon, Goodwin Consulting Group Inc.
Phone Number: (916) 561-0890
Comments:
As a result of significant delinquencies in the payment of the fiscal year 2019-20 special taxes, the Trustee was required to withdraw a total of $3,676,471.48 from the reserve fund in order to pay the debt service due on September 1, 2020 on the above-captioned bonds. Reserve shared between CDIAC Nos 2005-1575, 2006-1389 & 2014-0954. The reserve draw reported above is the combined amount for all three bonds.
Date Received: 9/9/2020
Date posted to this website:
Thursday, October 8, 2020
Issuer: Northstar Community Services District CFD No 1
County: Placer
Project: The Village
Original Sale Date: 7/17/2014
CDIAC Number: 2014-0954
Type of Event: Draw on Reserve
Date of Event: 9/1/2020
Amount of Default: $3,676,471.48
Contact: Andrew Bavender, Goodwin Consulting Group Inc.
Phone Number: (916) 561-0890
Comments:
The Trustee was required to withdraw a total of $3,676,471.48 from the reserve fund in order to pay the debt service
due on September 1, 2020. The amount remaining on deposit in the reserve fund following that withdrawal is
$1,674,531.66 and the current reserve requirement is $10,715,250.00. Reserve shared between CDIAC Nos 2005-1575, 2006-1389 and 2014-0954. The reserve draw reported above is the
combined amount for all three bonds.
Date Received: 9/9/2020
Date posted to this website:
Thursday, October 8, 2020
Issuer: Northstar Community Services District CFD No 1
County: Placer
Project: The Village
Original Sale Date: 12/8/2005
CDIAC Number: 2005-1575
Type of Event: Draw on Reserve
Date of Event: 3/2/2020
Amount Withdrawn: $986,803.18
Contact: Andrew Shannon, Goodwin Consulting Group Inc.
Phone Number: (916) 561-0890
Comments:
As a result of significant delinquencies in the payment of the fiscal year 2019-20 special taxes, the Trustee was required to withdraw a total of $986,803.18 from the reserve fund in order to pay the debt service due on March 2, 2020 on the above-captioned bonds. The amount remaining on deposit in the reserve fund following that withdrawal is $5,343,724.83 and the current reserve requirement is $10,783,500. Reserve shared between CDIAC Nos 2005-1575, 2006-1389 & 2014-0954. The reserve draw reported above is the combined amount for all three bonds.
Date Received: 3/5/2020
Date posted to this website:
Wednesday, March 18, 2020
Issuer: Northstar Community Services District CFD No 1
County: Placer
Project: The Village
Original Sale Date: 12/7/2006
CDIAC Number: 2006-1389
Type of Event: Draw on Reserve
Date of Event: 3/2/2020
Amount Withdrawn: $986,803.18
Contact: Andrew Shannon, Goodwin Consulting Group Inc.
Phone Number: (916) 561-0890
Comments:
As a result of significant delinquencies in the payment of the fiscal year 2019-20 special taxes, the Trustee was required to withdraw a total of $986,803.18 from the reserve fund in order to pay the debt service due on March 2, 2020 on the above-captioned bonds. The amount remaining on deposit in the reserve fund following that withdrawal is $5,343,724.83 and the current reserve requirement is $10,783,500.
Reserve shared between CDIAC Nos 2005-1575, 2006-1389 & 2014-0954. The
reserve draw reported above is the combined amount for all three bonds.
Date Received: 3/5/2020
Date posted to this website:
Wednesday, March 18, 2020
Issuer: Northstar Community Services District CFD No 1
County: Placer
Project: The Village
Original Sale Date: 7/17/2014
CDIAC Number: 2014-0954
Type of Event: Draw on Reserve
Date of Event: 3/2/2020
Amount Withdrawn: $986,803.18
Contact: Andrew Shannon, Goodwin Consulting Group Inc.
Phone Number: (916) 561-0890
Comments:
As a result of significant delinquencies in the payment of the fiscal year 2019-20 special taxes, the Trustee was required to withdraw a total of $986,803.18 from the reserve fund in order to pay the debt service due on March 2, 2020 on the above-captioned bonds. The amount remaining on deposit in the reserve fund following that withdrawal is $5,343,724.83 and the current reserve requirement is $10,783,500. Reserve shared between CDIAC Nos 2005-1575, 2006-1389 & 2014-0954. The reserve draw reported above is the combined amount for all three bonds.
Date Received: 3/5/2020
Date posted to this website:
Wednesday, March 18, 2020
Issuer: Northstar Community Services District CFD No 1
County: Placer
Project: The Village
Original Sale Date: 12/8/2005
CDIAC Number: 2005-1575
Type of Event: Draw on Reserve
Date of Event: 9/3/2019
Amount Withdrawn/Not Paid: $3,638,379.58
Contact: Andrew Shannon, Goodwin Consulting Group Inc
Phone Number: (916) 561-0890
Comments:
As a result of significant delinquencies in the payment of the fiscal year 2019-20 special taxes, the Trustee was required to withdraw a total of $3,638,379.58 from the reserve fund in order to pay the debt service due on September 3, 2019 on the above-captioned bonds. The amount remaining on deposit in the reserve fund following that withdrawal is $6,300,415.34 and the current reserve requirement is $10,820,250.00. Reserve shared between CDIAC Nos 2005-1575, 2006-1389 and 2014-0954. The reserve draw reported above is the combined amount for all three bonds.
Date Received: 9/6/2019
Date posted to this website:
Tuesday, September 17, 2019
Issuer: Northstar Community Services District CFD No 1
County: Placer
Project: The Village
Original Sale Date: 12/7/2006
CDIAC Number: 2006-1389
Type of Event: Draw on Reserve
Date of Event: 9/3/2019
Amount Withdrawn/Not Paid: $3,638,379.58
Contact: Andrew Bavender, Goodwin Consulting Group Inc
Phone Number: (916) 561-0890
Comments:
As a result of significant delinquencies in the payment of the fiscal year 2019-20 special taxes, the Trustee was required to withdraw a total of $3,638,379.58 from the reserve fund in order to pay the debt service due on September 3, 2019 on the above-captioned bonds. The amount remaining on deposit in the reserve fund following that withdrawal is $6,300,415.34 and the current reserve requirement is $10,820,250.00. Reserve shared between CDIAC Nos 2005-1575, 2006-1389 and 2014-0954. The reserve draw reported above is the combined amount for all three bonds.
Date Received: 9/6/2019
Date posted to this website:
Tuesday, September 17, 2019
Issuer: Northstar Community Services District CFD No 1
County: Placer
Project: The Village
Original Sale Date: 7/24/2014
CDIAC Number: 2014-0954
Type of Event: Draw on Reserve
Date of Event: 9/3/2019
Amount Withdrawn/Not Paid: $3,638,379.58
Contact: Andrew Shannon, Goodwin Consulting Group Inc
Phone Number: (916) 561-0890
Comments:
As a result of significant delinquencies in the payment of the fiscal year 2019-20 special taxes, the Trustee was required to withdraw a total of $3,638,379.58 from the reserve fund in order to pay the debt service due on September 3, 2019 on the above-captioned bonds. The amount remaining on deposit in the reserve fund following that withdrawal is $6,300,415.34 and the current reserve requirement is $10,820,250.00. Reserve shared between CDIAC Nos 2005- 1575, 2006-1389 and 2014-0954. The reserve draw reported above is the combined amount for all three bonds.
Date Received: 9/6/2019
Date posted to this website:
Tuesday, September 17, 2019
Issuer: Northstar Community Services District CFD No 1
County: Placer
Project: The Village
Original Sale Date: 12/8/2005
CDIAC Number: 2005-1575
Type of Event: Draw on Reserve
Date of Event: 3/1/2019
Amount Withdrawn: $985,891.93
Contact: Andrew Bavender, Goodwin Consulting Group Inc
Phone Number: (916) 561-0890
Comments:
the fiscal year 2018-19 special taxes, the Trustee was required to withdraw a total of $985,891.93 from the reserve fund in order to pay the interest due on March 1, 2019 on the above-captioned bonds. The amount remaining on deposit in the reserve fund following that withdrawal is $9,868,945.35 and the current reserve requirement is $10,820,250.00.Reserve shared between CDIAC Nos 2005-1575, 2006-1389 and 2014-0954.
The reserve draw reported above is the combined amount for all three bonds. Additionally, the reported amount only reflects the withdrawal below the ReserveRequirement for the bonds
Date Received: 3/15/2019
Date posted to this website:
Friday, March 29, 2019
Issuer: Northstar Community Services District CFD No 1
County: Placer
Project: The Village
Original Sale Date: 12/7/2006
CDIAC Number: 2006-1389
Type of Event: Draw on Reserve
Date of Event: 3/1/2019
Amount Withdrawn: $985,891.93
Contact: Andrew Bavender, Goodwin Consulting Group Inc
Phone Number: (916) 561-0890
Comments:
As a result of significant delinquencies in the payment of the first installment of the fiscal year 2018-19 special taxes, the Trustee was required to withdraw a total of $985,891.93 from the reserve fund in order to pay the interest due on March 1, 2019 on the above-captioned bonds. The amount remaining on deposit in the reserve fund following that withdrawal is $9,868,945.35 and the current reserve requirement is $10,820,250.00.
Reserve shared between CDIAC Nos 2005-1575, 2006-1389 and 2014-0954. The reserve draw reported above is the combined amount for all three bonds. Additionally, the reported amount only reflects the withdrawal below the ReserveRequirement for the bonds
Date Received: 3/15/2019
Date posted to this website:
Friday, March 29, 2019
Issuer: Northstar Community Services District CFD No 1
County: Placer
Project: The Village
Original Sale Date: 7/24/2014
CDIAC Number: 2014-0954
Type of Event: Draw on Reserve
Date of Event: 3/1/2019
Amount Withdrawn: $985,891.93
Contact: Andrew Bavender, Goodwin Consulting Group Inc
Phone Number: (916) 561-0890
Comments:
As a result of significant delinquencies in the payment of the first installment of the fiscal year 2018-19 special taxes, the Trustee was required to withdraw a total of $985,891.93 from the reserve fund in order to pay the interest due on March 1, 2019 on the above-captioned bonds. The amount remaining on deposit in the reserve fund following that withdrawal is $9,868,945.35 and the current reserve requirement is $10,820,250.00.
Reserve shared between CDIAC Nos 2005-1575, 2006-1389 and 2014-0954. The reserve draw reported above is the combined amount for all three bonds. Additionally, the reported amount only reflects the withdrawal below the ReserveRequirement for the bonds
Date Received: 3/15/2019
Date posted to this website:
Friday, March 29, 2019
Issuer: Northstar Community Services District CFD No 1
County: Placer
Project:
Original Sale Date: 12/8/2005
CDIAC Number: 2005-1575
Type of Event: Draw on Reserve
Date of Event: 9/1/2011
Amount Withdrawn: $1,573,170.81
Contact: Nikki Muranaka, Goodwin Consulting Group Inc.
Phone Number: (916) 561-0890
Comments:
The draw was mainly due to a 45% tax delinquency rate for the fiscal year 2010-11 District tax levy, as well as prior year delinquencies. The property owners primarily responsible for the delinquent special taxes are NHJV Tahoe Phase 1 GP and Highlands Hotel Residences Company. These property owners are delinquent in payment of the District special taxes.
Date Received: 9/2/2011
Date posted to this website:
Wednesday, September 28, 2011
Issuer: Northstar Community Services District CFD No 1
County: Placer
Project:
Original Sale Date: 12/7/2006
CDIAC Number: 2006-1389
Type of Event: Draw on Reserve
Date of Event: 9/1/2011
Amount Withdrawn: $1,604,971.12
Contact: Nikki Muranaka, Goodwin Consulting Group Inc.
Phone Number: (916) 561-0890
Comments:
The draw was mainly due to a 45% tax delinquency rate for the fiscal year 2010-11 District tax levy, as well as prior year delinquencies. The property owners primarily responsible for the delinquent special taxes are NHJV Tahoe Phase 1 GP and Highlands Hotel Residences Company. These property owners are delinquent in payment of the District special taxes.
Date Received: 9/2/2011
Date posted to this website:
Wednesday, September 28, 2011
Issuer: Northstar Community Services District CFD No 1
County: Placer
Project:
Original Sale Date: 12/8/2005
CDIAC Number: 2005-1575
Type of Event: Draw
Date of Event: 3/1/2011
Amount Withdrawn: $568,784.12
Contact: Nikki Muranaka, Goodwin Consulting Group Inc.
Phone Number: (916) 561-0890
Comments:
The Northstar Community Services District CFD No 1 (NCSD) requested a draw of $568,784.12 from the Reserve fund of fund a portion of the debt service payment due March 1, 2011. The draw was due to a 46% tax delinquency rate for the first installment of the fiscal year 2010-11 District tax levy.
Date Received: 3/2/2011
Date posted to this website:
Friday, March 4, 2011
Issuer: Northstar Community Services District CFD No 1
County: Placer
Project:
Original Sale Date: 12/7/2006
CDIAC Number: 2006-1389
Type of Event: Draw
Date of Event: 3/1/2011
Amount Withdrawn: $595,866.68
Contact: Nikki Muranaka, Goodwin Consulting Group Inc.
Phone Number: (916) 561-0890
Comments:
The Northstar Community Services District CFD No 1 (NCSD) requested a draw of $595,866.68 from the Reserve fund of fund a portion of the debt service payment due March 1, 2011. The draw was due to a 46% tax delinquency rate for the first installment of the fiscal year 2010-11 District tax levy.
Date Received: 3/2/2011
Date posted to this website:
Friday, March 4, 2011