Report Prepared by: Francisco Mendoza-Gonzalez, Senior Planner, Development Services Department
Title
SUBJECT: Adoption of a Resolution of Intent Regarding Annexation No. 25 for the Palisades Subdivision Improvement Area No. 50 into Community Facilities District (CFD) No. 2003-2 (Services), Approving a Deposit and Reimbursement Agreement for Annexation No. 25, and Setting a Public Hearing for March 4, 2024; and Annexation No. 25 Consists of Approximately 28.10 Acres of Land Generally Located on the East Side of G Street, Approximately 800 Feet North of Merill Place
REPORT IN BRIEF
Considers adopting a Resolution of Intent to annex 28.10 acres of land generally located on the east side of G Street, approximately 800 feet north of Merill Place (CFD Annexation No. 25) into the City's CFD for Services (CFD 2003-2), including the approval of a Deposit and Reimbursement Agreement for the annexation; accept the petition, consent, and waiver for Annexation No. 25; and set a public hearing and election for March 4, 2024.
RECOMMENDATION
City Council - Adopt a motion:
A. Adopting Resolution 2024-23, a Resolution of Intention of the City Council of the City of Merced, Acting as the Legislative Body of the City of Merced Community Facilities District No. 2003-2 (Services), Declaring its Intentions to Annex an Area to Said District and Authorize the Levy of a Special Tax Within Said Annexation and Approving a Certain Agreement Related Thereto; and,
B. Setting the Public Hearing for March 4, 2024; and,
C. Accepting the Petition, Consent and Waiver from Leeco, LLC, a California Limited Liability Company and Exposition Properties, LLC, a California Limited Liability Company for Annexation No. 25; and,
D. Accepting the deposit amount of $25,000 in Fund 4500 (CFD Formation Fund), increasing the revenue and appropriating the same to cover the cost of Community Facilities District formation and related expenditures for Annexation No. 25; and,
E. Authorizing the City Ma...
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