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File #: 23-0280    Version: 1 Name: Establish the Downtown Enhanced Infrastructure Financing District
Type: CC- Report Status: Agenda Ready
File created: 3/13/2023 In control: City Council
On agenda: 4/25/2023 Final action:
Title: REPORT - RESOLUTION OF INTENTION TO ESTABLISH THE DOWNTOWN ENHANCED INFRASTRUCTURE FINANCING DISTRICT, ESTABLISHING A PUBLIC FINANCING AUTHORITY AND AUTHORIZING OTHER ACTIONS BACKGROUND: Interest in exploring the potential of an Enhanced Infrastructure Financing District (EIFD) was raised as early as 2016 as a viable option to bolster interest in downtown density infill development, as well as a tool to perpetuate economic recovery after the 2017 wildfires. The Resolution of Intention (ROI) is the first step in establishing an EIFD and, if approved, allows staff to proceed with evaluating the fiscal impacts, confirm eligible facilities, and prepare an infrastructure finance plan for future Council consideration. At the same time as the ROI is adopted, the Council must establish a Public Financing Authority as the governing board for the EIFD. RECOMMENDATION: It is recommended by the Planning and Economic Development Department that the Council: 1) adopt a Resolution of Intention to f...
Sponsors: Planning and Economic Development
Indexes: Not a Project
Code sections: 15061(b)(3) - General Rule Exemption, 15378 - Not a Project
Attachments: 1. Staff Report, 2. Attachment - Downtown SR EIFD Map, 3. Resolution 1, 4. Exhibit B - Downtown SR EIFD Map, 5. Resolution 2, 6. Presentation, 7. Exhibit A - Description of Facilities (Uploaded 04-25-2023), 8. Late Correspondence (Uploaded 04-25-2023), 9. Resolution 2_Redline (Uploaded 5-22-2023), 10. REVISED Resolution 2_CLEAN (Uploaded 05-22-2023)
Related files: 22-0069, 23-0440, 23-0512
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
4/25/20231 City Council to waive reading of the text and adoptPass Action details Meeting details Video Video
4/25/20231 City Council to waive reading of the text and adopt as amendedPass Action details Meeting details Video Video