City Council
MEETING DATE: 1/24/2018
TITLE:
Title
Resolution of Intention to Establish Improvement Area No. 10 - CFD NO. 2006-1
End
FROM:
Tami Scott, Administrative Services Director
RECOMMENDATION:
Recommendation
Staff recommends the City Council adopt a Resolution of Intention.
Body
BACKGROUND:
The City Council formed a Community Facilities District (CFD 2006-1) to pay 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. 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 to form a new Improvement Area (No. 10) for the Horizon Gardens development project. The rates for Fiscal Year 2017-2018 have been set at $.1481 per square foot for non-retail commercial. 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 Facilities Act of 1982. Initially, there will be 17,993 square feet for the six existing buildings. At full capacity, there will be four additional build...
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