Title
Chief Administrative Office recommending the Board adopt and authorize the Chair to sign Resolution 179-2018 accepting the exchange of property tax increments for the annexation of four parcels (APNs 115-400-06, 115-400-07, 115-400-08, and 115-400-09) into the Garden Valley Fire Protection District service area, Local Agency Formation Commission Project 2018-01.
FUNDING: N/A
Body
DISCUSSION / BACKGROUND
The Eells Ranch Road Annexation to Garden Valley Fire Protection District will annex four parcels (APNs 062-111-51, 062-111-52, 062-111-53, and 062-111-54) into the Garden Valley Fire Protection District, Local Agency Formation Commission (LAFCO) Project No. 2018-03. The annexation triggers the requirement under the law to redistribute property tax increments applicable to the property being annexed.
In accordance with Revenue and Taxation Code Sections 99 and 99.01, negotiations have been completed regarding the redistribution of the property tax increments applicable to these parcels. Garden Valley would accept a 7.745% share of the property tax increment. To allow for some of the increment to be distributed to the Fire District, the shares to the other agencies are proposed to decrease proportionally. The share to the County General Fund will decrease from 33.4334% to 27.7255%. Georgetown Divide Recreation District’s share will decrease from 3.7158% to 3.0811. El Dorado County Water Agency's will decrease from 1.2164% to 1.0087%. Other details of the proposed exchange of tax increment are included in Exhibit B of the resolution.
Pursuant to the application filed with LAFCO, the purpose of the annexation is to bring the subject parcels into the Fire District Boundaries for fire protection purposes.
ALTERNATIVES
N/A
OTHER DEPARTMENT / AGENCY INVOLVEMENT
County Counsel
CAO RECOMMENDATION
It is recommended that the Board approve this item.
FINANCIAL IMPACT
Though the financial impact to the County would vary each year, the fiscal year 2018-19 ...
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