Title:
Title
(Pass for Publication) Ordinance Dissolving the Streetcar Community Facilities District No. 2017-01 and Rescinding Ordinance No. 2017-043
End
FileID
File ID: 2019-01138
Location
Location: Districts 3 and 4
Recommendation:
Recommendation
1) Review an Ordinance dissolving the Streetcar Community Facilities District No. 2017-01 (CFD) and rescinding Ordinance No. 2017-0043 levying the special tax; 2) pass for publication the Ordinance title as required by Sacramento City Charter 32(c) to be adopted August 20, 2019; and 3) pass a Motion directing the City Manager, or City Manager's designee, to return to City Council within 60 days with a recommendation related to the future disposition of the Riverfront Joint Powers Authority and potential options for a successor project.
Contact: Sheri Smith, Special Districts Manager, (916) 808-7204, Department of Finance
Body
Presenter: None
Attachments:
1-Description/Analysis
2-Ordinance
Description/Analysis
Issue Detail: On March 21, 2017, City Council (Council) held a public hearing and passed Resolution No. 2017-0105 establishing the CFD to fund maintenance of the proposed streetcar. The City conducted a special election (mail-ballot) on the proposed special tax to fund the CFD which passed with a 78.05% approval and on July 25, 2017, the Council adopted Ordinance No. 2017-0043 to levy the special tax within the CFD.
Following the formation of the CFD, Horizon Capital Investments, LLC and others sued to invalidate the CFD. The City has entered into a Settlement Agreement, City Agreement No. 2019-0541 (Agreement) and agreed to dissolve the CFD and to not levy the special tax in exchange for dismissal of the lawsuit. The actions in the attached ordinance will result in the dismissal of the lawsuit under the Agreement.
On March 21, 2017, Council approved Resolution No. 2017-0103 establishing the Riverfront Joint Powers Authority (Riverfront JPA) with West Sacramento to construct, own, operat...
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