Title
Adoption of Resolution of Consideration to Alter the Rate and Method of Apportionment of Special Taxes for Community Facilities District (CFD) No. 17-1 (Alameda Point Public Services District) and Set a Public Hearing for February 16, 2021. (Community Development 271)
Body
To: Honorable Mayor and Members of the City Council
EXECUTIVE SUMMARY
The recommended action will alter the Rate and Method of Apportionment of Special Taxes (RMA) for Community Facilities District (CFD) No. 17-1, so that it better aligns with the property in the CFD that has been developed, is being developed, and is expected to be developed in the future.
BACKGROUND
On March 21, 2017, the City Council adopted Resolution No. 15249 pursuant to which it formed the City of Alameda (City) CFD No. 17-1, in connection with the development of Alameda Point. The CFD was established in order to finance annual public services and transportation demand services and programs associated with the development of the 68-acre Site A development. Other areas of Alameda Point are included in a "Future Annexation Area" for the CFD and are to be annexed into the CFD prior to their transfer to private property owners. The first such annexation occurred on March 15, 2018, in connection with a transfer of a portion of the Site A land.
The CFD and Future Annexation Area boundary is generally bounded by Main Street and West Red Line Avenue to the north, Main Street to the east, the parcels directly west of Monarch Street to the west and West Hornet Avenue and the Bay to the south. The CFD includes two Tax Zones. Tax Zone 1 of the CFD is that area generally bounded by Main Street to the east, Ralph Appezzato Memorial Parkway to the south, West Trident Avenue to the north and Ferry Point to the west. Tax Zone 2 includes certain parcels that are generally to the west of Ferry Point and Pan Am Way. (Exhibit 1)
The Resolution that formed the CFD approved a RMA for the District, which set forth the manner in...
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