Title
Adoption of Resolution Authorizing the Issuance of City of Alameda Community Facilities District (CFD) No. 22-1 (Alameda Marina) 2022 Special Tax Bonds, and Approving Related Documents and Actions. On July 10, 2018, the City Council certified the Final Environmental Impact Report (EIR) for the Alameda Marina Master Plan in accordance with the California Environmental Quality Act (CEQA) (State Clearinghouse No. 2016102064). The formation of a CFD and issuance of the 2022 Bonds only involves financing for improvements that are already the subject of relevant environmental approval and thus does not present any new environmental impacts or necessitate further environmental review. (Finance 10024051)
Body
To: Honorable Mayor and Members of the City Council
EXECUTIVE SUMMARY
In 2018, the City Council approved the Master Plan for the Alameda Marina project, which established the requirements for a mixed-use development at the Alameda Marina site (the "Development"). The Master Developer, Alameda Marina, LLC, requested the formation of a community facilities district (or "CFD") to finance certain public infrastructure, including the construction of a seawall and specific improvements to Clement Avenue (the "Improvements") as well as certain municipal services necessitated by the project as a condition of approval. In April 2022, the City of Alameda Community Facilities District No. 22-1 (Alameda Marina) (the "District" or the "CFD") was formed by the City Council under the authority of the City of Alameda Special Tax Financing Improvement Code of the Alameda Municipal Code (the "Law"). Alameda Marina, LLC, has requested that the City of Alameda (City) issue the 2022 Special Tax Bonds (Green Bonds) ("the 2022 Bonds") for the CFD in order to pay the associated costs to acquire the sea level rise resilience and adaptation improvements authorized to be funded by the District. The attached Resolution authorizes the issuance of the 2022 Bonds (payable from an...
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