Title
Chief Administrative Office recommending Resolution accepting the proposed exchange of property tax increments for the subject Visman Annexation into El Dorado Irrigation District, LAFCO Projects 07-05A and 07-05B.
RECOMMENDED ACTION: Adopt Resolution 310-2007.
Body
Fiscal Impact/Change to Net County Cost: N/A
Reason for Recommendation:
In accordance with Revenue and Taxation Code Sections 99 and 99.01, negotiations have been completed regarding the redistribution of the property tax increment applicable to these properties. El Dorado Irrigation District will adopt by Resolution a 2.667% share of the property tax increment. The proposed annexation will also impact the share of tax levy to the El Dorado Fire District. The redistributions are provided in attachments B and C.
Action to be taken following Board approval: Submit adopted resolution to LAFCO.
Contact: Jim Wiltshire
Concurrences: LAFCO