Report Prepared by: Julie Nelson, Associate Planner, Development Services
Title
SUBJECT: Annexation into Community Facilities District (CFD) No. 2003-2 (Services) for Merced Station (Formerly University Village Merced - Lake) and Setting a Public Hearing for May 21, 2018, to Hold the Election for Annexation into the CFD
REPORT IN BRIEF
This report requests the City Council to accept the petition to annex into CFD No. 2003-2 (Services) from Merced Station, LLC; approve a deposit and reimbursement agreement with Merced Station, LLC; adopt a Resolution of Intent to annex the Merced Station Apartment Project into Community Facilities District (CFD) No. 2003-2; and set a Public Hearing for May 21, 2018, to hold the election for annexation into the CFD.
RECOMMENDATION
City Council - Adopt a motion:
A. Accepting the petition for the initiation of proceedings for establishment of a Community Facilities District from Merced Station LLC; and,
B. Adopting Resolution 2018-25, 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 intention to annex area to said district and authorize the levy of a special tax within said annexation, and approving a certain agreement related thereto; and,
C. Authorizing the appropriation of funds from the deposit to Fund 150 to reimburse the City for Community Facilities District formation related expenditures; and,
D. Setting the Public Hearing for May 21, 2018.
Body
ALTERNATIVES
1. Approve the action as recommended by staff; or,
2. Requesting modification or amendment to the documents and provide direction to City staff regarding the same; or,
3. Decline to authorize action as recommended; or,
4. Continue to a future City Council meeting (time and date to be specified in motion).
AUTHORITY
Annexation of property into the City's existing CFD No. 2003-3 (Services) pursuant to Merced City C...
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