Report Prepared by: Julie Nelson, Associate Planner, Development Services
Title
SUBJECT: Acceptance of a Petition to Annex into Community Facilities District (CFD) No. 2003-2 (Services) and Approval of a Deposit and Reimbursement Agreement with Stonefield Home, Inc. for the Stoneridge South Subdivision
REPORT IN BRIEF
Consider accepting the petition to annex into CFD No. 2003-2 (Services) from Stonefield Home, Inc. and approve a deposit and reimbursement agreement for the costs of annexing into the CFD for the Stoneridge South Subdivision generally located on the north side of Mission Avenue, east of G Street.
RECOMMENDATION
City Council - Adopt a motion:
A. Accepting the petition to annex from Stonefield Home, Inc. for annexation into Community Facilities District (CFD) No. 2003-2 (Services); and,
B. Approving the deposit and reimbursement agreement, increasing revenue account in the amount of $15,000 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 5331) 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 longstanding policy requiring all new development within the City to annex to a Community Facilities District (CFD) pursuant to ...
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