Title
Chief Administrative Office recommending the Board adopt a Resolution accepting the exchange of property tax increment for the annexation of three parcels (APN's 126-100-18, 110-020-12 and 126-100-20) to the El Dorado Irrigation District, Local Agency Formation Commission Project No. 2010-03.
Resolution 116-2010
Body
Fiscal Impact/Change to Net County Cost: No change to Net County Cost.
Background: The La Canada Annexation, LAFCO Project No. 2010-03 will annex three parcels APN 126-100-18 (140.44 acres), APN 110-020-12 (0.68 acres) and APN 126-100-20 (a non-taxable county owned portion of Salmon Falls Road) to the El Dorado Irrigation District. The properties are located in the El Dorado Hills area directly east of Salmon Falls Road, approximately three-quarters of a mile north of the intersection with Green Valley Road. The purpose of the annexation is to obtain water services to support the development of a proposed 47-lot residential subdivision.
Reason for Recommendation: In accordance with Revenue and Taxation Code Sections 99 and 99.01, negotiations have been completed regarding the redistribution of property tax increment applicable to these parcels. Details of the proposed exchange are included in Exhibit B.
Action to be taken following Board approval: Board Clerk to send adopted Resolution to affected agencies and LAFCO so the Commission can proceed with processing the application for annexation.
Contact: Mike Applegarth (5123)