Title
Chief Administrative Office recommending the Board adopt Resolution 027-2014 agreeing to the exchange of property tax increment for the annexation of one parcel (APN 319-220-57) to the El Dorado Irrigation District, Local Agency Formation Commission Project No. 2014-02, to obtain water and wastewater services to support a 350-student, K-8 Charter School Facility for the California Montessori Project.
Body
Fiscal Impact/Change to Net County Cost
There is no fiscal impact or change to net county cost associated with this item because the subject parcel is non-taxable.
Background
The Shingle Springs Montessori School Annexation will annex one 10 acre parcel (APN 319-220-57) to the El Dorado Irrigation District. The purpose of the annexation is to obtain water and wastewater services to support a 350-student, K-8 Charter School Facility for the California Montessori Project.
The Chief Administrative Office sent tax increment exchange proposals to affected agencies on March 17, 2014. The Board of Supervisors has historically reduced the County and other taxing entities' share of the tax increment in order to provide EID with a 2.6667% share. The Chief Administrative Office proposal continues this trend. Chief Administrative Office staff notes that while the share of tax increment changes as a result of annexation, no actual tax dollars are exchanged because the parcel is non-taxable.
Summary of Exhibits:
Exhibit A: The Resolution of Board consideration formally agreeing to the exchange of tax increment.
Exhibit B: The attachment to the Resolution which details the proposed exchange of tax increment.
Exhibit C: Letters from the Chief Administrative Office to affected taxing entities proposing the exchange of tax increment.
Exhibit D: Auditor-Controller's Estimate of Property Tax Revenue & Distribution provided to affected agencies.
Exhibit E: LAFCO's memo to affected agencies inviting review and comment on the annexation project.
Reason for Recomme...
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