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 59 Petroleum, LLC
REPORT IN BRIEF
Considers accepting the petition to annex into CFD No. 2003-2 (Services) from 59 Petroleum, LLC, and approve a deposit and reimbursement agreement for the costs of annexing into the CFD for the commercial development generally located at the northwest corner of North Hwy 59 and Santa Fe Drive.
RECOMMENDATION
City Council - Adopt a motion:
A. Accepting the petition to annex from 59 Petroleum, LLC, 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 $25,000 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 the Mellow Roos Community Facilities Act of 198...
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