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Auditor-Controller recommending the Board approve the Final Passage (Second Reading) of Ordinance 5204 Levying Special Taxes for CFD 2024-2 (Heritage at Carson Creek Village 11). (Cont. 7/16/2024, Item 50)
FUNDING: N/A
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DISCUSSION / BACKGROUND
On July 16, 2024 the Board heard the Introduction (First Reading) of Ordinance 5204 Levying Special Taxes for CFD 2024-2 (Heritage at Carson Creek Village 11) and continue this matter to July 23, 2024 for Final Passage (Second Reading).
On May 21, 2024, the Board adopted Resolution 085-2024, a Resolution of Intention setting forth the intention to establish Community Facilities District 2023-1 (East Ridge) and stating the County's intention to levy a special tax to pay for the acquisition, construction, and associated costs of the public facilities, and to issue bonds in an amount not to exceed $150 million for the CFD. The boundary of the CFD showing the area initially to be taxed, the formula for calculation of the special tax and the list of authorized facilities were specified in the Resolution of Intention and are shown on a recorded boundary map. The Resolution also set July 18, 2023 as the date for a hearing on the matters set forth therein, and on that date the CFD formation process is eligible for completion.
On the June 25, 2024 public hearing date the Board has the opportunity to finally form the CFD and create a bond authorization. At the same time an election of the property owners can be completed. We expect that the election results will unanimously favor the District taxes and bonds. The property owners have waived a number of noticing and election procedures, which makes it possible for the proposed district to be formed immediately after the public hearing. Notice of the Public Hearing was published in the same manner as the County's other public hearing notifications at least seven days prior to the hearing date. County Counsel has reviewed and approved the attached Resolutions and Ordina...
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