Title
Introduction of Ordinance Amending the Alameda Municipal Code by Amending Division IV (Annexation of Territory) of Subsection 3-70 (Special Tax Financing Improvement Code), of Division I (General Provisions), of Article IV (Special Tax Financing), of Chapter III (Finance and Taxation) to Allow for Alternative Procedures for Future Annexation of Property Consistent with Amended State Law. (Base Reuse 858)
Body
To: Honorable Mayor and Members of the City Council
From: Jill Keimach, City Manager
Re: Introduction of Ordinance Amending the Alameda Municipal Code by Amending Division IV (Annexation of Territory) of Subsection 3-70 (Special Tax Financing Improvement Code), of Division I (General Provisions), of Article IV (Special Tax Financing), of Chapter III (Finance and Taxation) to Allow for Alternative Procedures for Future Annexation of Property Consistent with Amended State Law.
BACKGROUND
On June 16, 2015, the City Council approved the Development Plan, and a Disposition and Development Agreement (DDA) between the City of Alameda and the developer, Alameda Point Partners (APP), for the 68-acre Site A development, which is the first major public/private development at Alameda Point since the former Navy base closed in 1997. The DDA for the Site A development requires APP to invest over $103 million in public infrastructure improvements and public amenities and provide annual funding for municipal services and transportation services and programs consistent with the approved Development Plan and Site A Transportation Demand Management (TDM) Compliance Strategy in compliance with the Alameda Point TDM Plan.
City staff and APP are proposing the formation of a Community Facilities District (CFD) under the City of Alameda's Special Tax Financing Improvement Code [Alameda Municipal Code (AMC) Section 3-70] to fund annual municipal services and TDM services and programs associated with the Site A project in order to implement Section 3.1(c) of the DDA. ...
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