City Council
MEETING DATE: 2/11/2015
TITLE:
Title
Resolution of Intent to Establish Improvement Area No. 8 - CFD NO. 2006-1
End
FROM:
Tami Scott, Administrative Services Director
RECOMMENDATION:
Recommendation
Staff recommends that the City Council adopt a Resolution of Intention for Community Facilities District No. 2006-1 Improvement Area No. 8, The District
Body
BACKGROUND:
The City Council formed a Community Facilities District (CFD 2006-1) for the purpose of paying for additional law enforcement, fire, paramedic, park maintenance and general services within areas of new development. CFD 2006-1 provides a secure source of funding for the services described above that may not be taken away by Sacramento in the case of State budget cuts. A study was completed by David Taussig & Associates, Inc. in order to determine appropriate annual special tax rates that mitigate the fiscal impact on the General Fund for the services proposed to be provided. This report was previously presented and accepted by Council in September 2006.
DISCUSSION:
New developments, with more than four equivalent dwelling units, are conditioned to join the CFD through an annexation process. The annexations are processed in a timely manner as new developments go through the approval processes. Within CFD 2006-1, it is proposed that a new Improvement Area (No. 8) will be formed in connection with the The District development project. The rates for Fiscal Year 2014-2015 have been set at 607.75 for a single family residential unit. This Special Tax increases (but does not decrease) by the percentage change in the Consumer Price Index, not to exceed three percent (3%) per Fiscal Year.
The property owner of the parcels shown on the map attached to the Resolution has filed a petition requesting to form an improvement area within the existing CFD and waiving the notice and the time periods for the election as permitted by the Mello Roos Community F...
Click here for full text