HomeMy WebLinkAboutCC AG PKT 2002-10-14 #J r s
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AGENDA REPORT
DATE: October 14, 2002 I v e g 6r
TO: Honorable Mayor and City Council
THRU: John B. Bahorski, City Manager
FROM: Mac Cummins, Associate Planner /Special Projects Manager
SUBJECT: Establishment of Community Facilities District No. 2002 -1 Heron
Pointe
SUMMARY OF REQUEST:
That the City Council approve the second reading of an ordinance authorizing the levy of
a special tax within Community Facilities District No. 2002 -1, Heron Pointe
BACKGROUND:
When the Hellman Ranch development agreement was signed, it was contemplated that a
CFD would be created to help finance some of the public improvements necessary for the
effective development of the Hellman Ranch. The CFD will include all parcels located in
the Hellman Ranch development, and will issue bonds to finance certain public
improvements (including certain public improvements normally finananced through
development fees). This tax will be paid by homeowners, and the proceeds of the tax will
be used to make debt service payments on the bonds issued by the CFD.
The City Council, at their meeting of September 23, 2002, approved several action items
relating to the formation of the Community Facilities District at Heron Pointe. This
evening's action is the second reading of a previously approved ordinance, which will
authorize the levy of a special tax against the future home owners at Heron Pointe.
FISCAL IMPACT:
None. All staff time and incidental costs associated with to project will be billed to the
developer, and the costs of the public facilities and consultants will be paid for with bond
• proceeds . The costs of the public improvements will be paid by the special tax •
assessment levied against the new homeowners at Heron Pointe.
RECOMMENDATION:
Agenda Item J
That the City Council approve the second reading of an ordinance authorizing the levy of
a special tax within Community Facilities District No. 2002 -1, Heron Pointe
NOTED AN" APPROVED:
Mac Cummins John BY: ahorski
Associate Planner /Special Projects Manager City 1.nager
Attachments: (1)
1. Ordinance of the City Council of the City of Seal Beach, authorizing the
levy of a special tax within Community Facilities District No. 2002 -1
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Attachment 1
Ordinance of the City Council of the City of Seal Beach, authorizing the levy of a
special tax within Community Facilities District No. 2002 -1
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