Title
Adoption of Resolution Declaring Intention to Form City of Alameda Community Facilities District No. 25-1 (West Midway Facilities), and to Authorize the Levy of a Special Tax Therein to Finance Public Facilities in and for Such Community Facilities District;
Adoption of Resolution Declaring Intention to Incur Bonded Indebtedness to Finance the Acquisition and Construction of Certain Public Facilities in and for City of Alameda Community Facilities District No. 25-1 (West Midway Facilities); and
Adoption of Resolution Declaring Intention to Annex Territory to Community Facilities District No. 17-1 (Alameda Point Public Services District) and to Authorize the Levy of Special Taxes Therein. (Public Works 281)
Body
To: Honorable Mayor and Members of the City Council
From: Jennifer Ott, City Manager
EXECUTIVE SUMMARY
The purpose of this report is for City Council to consider commencement of legal proceedings to form a Community Facilities District (Facilities CFD) to finance certain public infrastructure, to authorize the City of Alameda (City) to incur bonded indebtedness for the Facilities CFD, and to annex property into the existing Alameda Point Services CFD 17-1 to finance certain municipal services for the West Midway development located in the Main Street Neighborhood Specific Plan area of Alameda Point.
BACKGROUND
On May 22, 2023, the Planning Board approved the Development Plan for a residential mixed use development consisting of 478 new housing units, up to 10,000 square feet of non-residential uses and associated streets, infrastructure, utilities, and open space on approximately 26-acre of land immediately adjacent to the 8-acre RESHAP project site in the Main Street Neighborhood Specific Plan area of Alameda Point (West Midway Project).
On July 18, 2023, City Council approved the Disposition and Development Agreement (DDA) for the West Midway Project. The DDA establishes a contractual relationship between the City and BC West Midway, ...
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