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Chief Administrative Office recommending the Board adopt and authorize the Chair to sign Resolution 169-2017 accepting the exchange of property tax increments for the annexation of four parcels (APNs 115-400-06, 115-400-07, 115-400-08, and 115-400-09) into the El Dorado Irrigation District service area, Local Agency Formation Commission Project 2017-05.
FUNDING: N/A
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DEPARTMENT RECOMMENDATION
Chief Administrative Office recommending the Board adopt and authorize the Chair to sign Resolution 169-2017 accepting the exchange of property tax increments for the annexation of four parcels (APNs 115-400-06, 115-400-07, 115-400-08, and 115-400-09) into the El Dorado Irrigation District service area, Local Agency Formation Commission Project No. 2017-05.
DISCUSSION / BACKGROUND
The Bass Lake North Annexation to the El Dorado Irrigation District (EID), LAFCO Project No. 2017-05 will annex four parcels (APNs 115-400-06, 115-400-07, 115-400-08, and 115-400-09) into the El Dorado Irrigation District service area, Local Agency Formation Commission Project No. 2017-05. The annexation triggers the requirement under the law to redistribute property tax increments applicable to the property being annexed.
In accordance with Revenue and Taxation Code Sections 99 and 99.01, negotiations have been completed regarding the redistribution of the property tax increments applicable to this parcel. EID would accept a 2.6667% share of the property tax increment. El Dorado Hills Fire Department's share of the property tax increment will decrease from 19.1394% to 17.4594%. El Dorado Hills Community Service District's share of the property tax increment will decrease from 11.2229% to 10.2362%. There would be no change to the increment for the County General Fund, the County Capital Outlay Fund, the Road District, the County Water Agency, CSA 7 (EMS/Ambulance), CSA 9 (Motherlode Recreation Tax Zone), or CSA 10 (Waste Management and Libraries). Other details of the proposed exch...
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