Title:
Title
Initiate Proceedings to Establish Delta Shores Community Facilities District No. 2019-01 (Improvements)
End
FileID
File ID: 2019-00776
Location
Location: District 7 and 8
Recommendation:
Recommendation
Adopt 1) a Resolution of Intention proposing to establish the Delta Shores Community Facilities District No. 2019-01 (Improvements) and designate Improvement Area Nos. 1, 2, and 3 therein, proposing the levy of a special tax, approving the boundary map, and setting a public hearing for September 24, 2019; and 2) a Resolution Declaring the Necessity to Incur Bonded Indebtedness for each of the three improvement areas.
Contact: Arwen Wacht, Program Specialist, (916) 808-7535; Sheri Smith, Special Districts Manager, (916) 808-7204, Department of Finance
Body
Presenter: None
Attachments:
01-Description/Analysis
02-Background
03-Schedule of Proceedings
04-Resolution of Intention
05-Exhibit A: Boundary Map
06-Exhibit B: List of Authorized Facilities
07-Exhibit C: Representative Listing of Incidental Expenses
08-Exhibit D: Rate and Method of Apportionment - Improvement Area No. 1
09-Exhibit E: Rate and Method of Apportionment - Improvement Area No. 2
10-Exhibit F: Rate and Method of Apportionment - Improvement Area No. 3
11-Resolution of Intention to Incur Bonded Indebtedness
Description/Analysis
Issue Detail: Merlone Geier Partners (the Developer), the master developer of the Delta Shores development, has applied to the City to form the Delta Shores Community Facilities District No. 2019-01 (Improvements) (the "CFD" with three improvement areas (one west of Interstate 5, one east of Interstate 5 and south of Cosumnes River Boulevard, and one east of Interstate 5 and north of Cosumnes River Boulevard). The CFD will issue tax-exempt bonds, and the bond proceeds will be used to partially reimburse the Developer for the cost of public infrastructure that the City will acquire from the Developer as well as for certain development fees the D...
Click here for full text