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Auditor-Controller recommending the Board approve the Final Passage (Second Reading) of Ordinance 5239 Levying Special Taxes for Community Facilities District 2025-1 (Promontory South). (Cont. 8/26/2025, Item 19)
FUNDING: N/A
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DISCUSSION / BACKGROUND
On August 26, 2025, the Board heard Ordinance 5239 Levying Special Taxes for Community Facilities District 2025-1 (Promontory South) and continued the matter to September 16, 2025 for Final Passage (Second Reading).
On July 22, 2025, the Board adopted Resolution 096-2025, a Resolution of Intention setting forth the intention to establish Community Facilities District 2025-1 (Promontory South) 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 August 26, 2025, 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 August 26, 2025 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.
At the public hearing on the CFD, protests ...
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