Title
Auditor-Controller and Chief Administrative Officer recommending the Board:
1) Conceptually approve a 10-year Development/Community Benefit Agreement (DA) with East Ridge Holdings (the applicant) assuming the final DA provides assurances that the County will receive a $500 per home community benefit fee and the requirement that the applicant will assist the County with the formation of a new Community Facilities District (CFD) that requires that all excess CFD special taxes be transferred to the County Road Fund;
2) Direct staff to send the draft 10-year DA to the Planning Commission for review as soon as is practical. Per State Law, the Planning Commission must make a recommendation to the Board on Development Agreements;
3) Direct the County’s Bond Screening Committee to prepare and review the necessary resolutions to amend, revise, and/or replace, as appropriate, the existing CFD with a new CFD; and
4) Direct staff to time the Board consideration of the 10-year DA action with the final CFD actions.
FUNDING: N/A
Body
DISCUSSION / BACKGROUND
The East Ridge Village is within the Valley View Specific Plan area, a master planned community that was approved by the Board of Supervisors on December 8, 1998. Subsequently, the East Ridge Village Tentative Map was approved on June 11, 2015, creating a total of 759 lots consisting of 701 residential lots, 41 landscape lots, 12 roadway lots, two recreational park lots, one sewer lift station lot, and one pump station lot.
The East Ridge Holdings have proposed an extension of the East Ridge tentative map for a period of ten years through a DA. East Ridge is a fully entitled development project of approximately 700 residential units in El Dorado Hills with a valid tentative map that expires in June 2024. East Ridge is the final stage of the Valley View Specific Plan and Development Agreement, which expired in 2018. The applicants are concurrently preparing small lot tentative maps to vest the balance of ...
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