Report Prepared by: Julie Nelson, Associate Planner, Development Services
Title
SUBJECT: Acceptance of a Petitions to Annex into Community Facilities District (CFD) No. 2003-2 (Services) and Approval of Deposit and Reimbursement Agreements for the Costs of Annexing into the CFD for the Merced Gateway Shopping Center (Merced Gateway Marketplace) and the PG&E Service Center
REPORT IN BRIEF
Considers accepting the petition to annex into CFD No. 2003-2 (Services) from Gateway Park Development Partners, LLC, and PG&E and approve a deposit and reimbursement agreement for the costs of annexing into the CFD for the Merced Gateway Shopping Center (Merced Gateway Marketplace) and the PG&E Service Center.
RECOMMENDATION
City Council - Adopt a motion:
A. Accepting the petition for annexation from Gateway Park Development Partners, LLC and PG&E for annexation into Community Facilities District (CFD) No. 2003-2 (Services); and,
B. Approving the deposit and reimbursement agreements, increasing revenue account in the amount of $50,000 and appropriating the same in Fund 150 to reimburse the City for the cost of Community Facilities District formation and related expenditures; and,
C. Authorizing the City Manager or the Assistant City Manager to execute the Agreements.
Body
ALTERNATIVES
1. Approve the action as recommended by staff; or,
2. Request modification or amendment to the documents and provide direction to City staff regarding the same;
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 (Services) pursuant to Merced City Charter Section 200, Chapter 2.5 (commencing with Section 53311) of Part 1 of Division 2 of Title 5 of California Government Code (the "Act"), commonly known as the "Mello-Roos Community Facilities Act of 1982" and the City's Policy on new development.
DISCUSSION
The City has a longstan...
Click here for full text