TO: LINDA REICH, CITY MANAGER
FROM: KIM SAO, DIRECTOR OF FINANCE
SUBJECT
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Annexation of Territory into Existing Community Facilities District No. 2020-1 Improvement Area 4 for Municipal Services.
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RECOMMENDATION
Adopt Resolution No. 2026-031 declaring the City of Chino's intention to annex Territory to Improvement Area 4 of Community Facilities District No. 2020-1 (Services).
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FISCAL IMPACT
Annexation of the property to Community Facilities District No. 2020-1 of the City of Chino will add an additional $19,915.00 of Special Taxes annually, to be levied within CFD No. 2020-1 to be used for certain municipal services described in Resolution No. 2020-053 adopted by the City Council on September 1, 2020, with respect to CFD No. 2020-1, the Resolution of Formation.
CITY OF CHINO MISSION / VISION / VALUES / STRATEGIC ISSUES
The recommendation detailed above further the City's values and strategic issues that serve as key pillars on which identified priorities, goals, and action plans are built, by fostering:
* Financial Stability
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Expenditure:
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BACKGROUND
The City formed CFD 2020-1 to provide a community facilities district with a future annexation area encompassing the entire City of Chino. The District was formed to finance eligible city services including public safety services; library and recreation program services; the operation and maintenance of future museums and cultural facilities; street and road maintenance; and the lighting of parks, parkways, streets, roads and open space and other authorized services.
ISSUES/ANALYSIS
The property owner petitioning the City Council to annex into CFD 2020-1 is BCT Corporate Center, LLC, a Delaware limited liability company. The owner is seeking to annex into CFD 2020-1 as a condition to the development of its project. The City requires that all new development...
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