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Summary Title: Set Public Hearing to Consider Expansion of Territory and Public Improvements for Financing District at Alameda Landing and Levy of Corresponding Special Tax
Adoption of Resolution of Consideration to Alter the Facilities to be Financed by and the Rate and Method of Apportionment of Special Taxes for, and to Increase the Bonded Indebtedness Limit of, Community Facilities District No. 13-1 (Alameda Landing Public Improvements); and Adoption of Resolution of Intention to Annex Territory to the City of Alameda Community Facilities District No. 13-1 (Alameda Landing Public Improvements) and to Authorize the Levy of Special Taxes Therein. (Community Development 256)
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To: Honorable Mayor and Members of the City Council
From: John A. Russo, City Manager
Re: Recommendation to adopt a resolution of intention to annex territory to Community Facilities District No. 13-1 (Alameda Landing Public Improvements) and to authorize the levy of special taxes on the property to be annexed, and adopt a resolution of consideration to alter the facilities to be financed by, and to increase the bonded indebtedness limit of, Community Facilities District No. 13-1
BACKGROUND
On January 7, 2014, the City Council adopted Resolution No. 14880 pursuant to which it formed the City of Alameda Community Facilities District No. 13-1 (Alameda Landing Public Improvements) (CFD), and adopted Resolution No. 14881 determining that the City could issue, for the CFD, up to $20,000,000 in bonds to finance certain public facilities being constructed by Catellus Alameda Development, LLC (developer) in connection with the development of Phase 1 of Alameda Landing. These facilities included the backbone sanitary sewer, storm and water systems and construction of Mitchell and Stargell Avenues and Fifth Street.
The Alameda Landing Disposition and Development Agreement (DDA) requires the developer to commence construction on Phase 2 of the project by Decembe...
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