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Auditor-Controller recommending the Board Approve the Final Passage (Second Reading) of Ordinance 5196 Levying Special Taxes for Community Facilities District 2024-1 (Carson Creek Heritage 11). (Cont. 2/27/2024, Item 51)
FUNDING: N/A
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DISCUSSION / BACKGROUND
On February 27, 2024 (Item 51), the Board Approved the Introduction (First Reading) of Ordinance 5196 Levying Special Taxes for Community Facilities District 2024-1 (Carson Creek Heritage 11). The Board Continued this matter to March 5, 2024 for Final Passage (Second Reading).
On January 9, 2024, the Board adopted Resolution 009-2024, a Resolution of Intention setting forth the intention to establish Community Facilities District 2024-1 (Carson Creek Heritage 11) 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 $35 million for the Community Facilities District (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 February 27, 2024, 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 February 27, 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 ...
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