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Department of Transportation recommending the Board:
1) Making findings that the remaining assets of the Gilmore Vista Zone of Benefit 98122 be transferred to the successor Homeowner's Association;
2) Approve and authorize the Chair to sign Funding Agreement 8703 between the County and the Gilmore Vista Homeowner's Association, Inc.; and
3) Approve and authorize the Chair to sign a Budget Transfer to reallocate appropriations as necessary to pay the Gilmore Vista Homeowner's Association the amount of the funding agreement. (4/5 vote required)
FUNDING: Gilmore Vista Zone of Benefit Special Taxes. (100%)
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DISCUSSION / BACKGROUND
On November 12, 2023, the Board of Supervisors dissolved the Gilmore Vista Road Zone of Benefit 98122 (Zone) by Resolution 170-2023, following a petition submitted by property owners within the Zone.
Pursuant with the Policy and Procedure Guidelines for Creation and Administration of Zones of Benefit Within a County Service Area (Guidelines), the costs associated with dissolving the zone and any outstanding costs will be charged against the remaining assets of the zone. The Advisory Committee Manual for the Zones of Benefit also advises that by law, zone funds cannot be used for anything other than the intended purpose as detailed in the ballot measure for the special tax. An exception is that if a zone were to be dissolved, and a balance remained in the account, the excess funds at the time of dissolution would go to the County General Fund.
During the November 12th Hearing, staff confirmed that excess funds will remain in the Zone's account and the Department would bring a future item requesting the Board make findings that the funds be transferred to the successor Homeowner's Association (HOA) once the exact amount was determined. Following the application of all administrative charges, staff has calculated the residual special tax amount to be $15,744.75.
Gilmore Vista Account Status - ORG 3591838
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