TO: LINDA REICH, CITY MANAGER
FROM: KIM SAO, DIRECTOR OF FINANCE
SUBJECT
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Formation of Community Facilities District 2026-1 The Meadows.
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RECOMMENDATION
recommendation
1) Conduct a Public Hearing regarding the formation of Community Facilities District 2026-1 (The Meadows) of the City of Chino (CFD No. 2026-1) and Improvement Area Nos. 1, 2 and 3 therein (the Improvement Areas); 2) accept tax consultant's report; 3) adopt Resolution No. 2026-014 establishing CFD No. 2026-1 and the Improvement Areas, authorizing the levy of special taxes and calling an election within each Improvement Area; 4) adopt Resolution No. 2026-015, determining the necessity to incur bonded indebtedness for CFD No. 2026-1 and each Improvement Area therein; 5) conduct a special election of the property owners within CFD No. 2026-1 and each Improvement Area therein; 6) adopt Resolution No. 2026-016, declaring results of the special election and directing recording of a Notice of Special Tax Lien on taxable property within CFD No. 2026-1 and each Improvement Area therein; 7) approve the introduction of Ordinance No. 2026-002, authorizing the levy of a special tax within CFD No. 2026-1 and each Improvement Area therein, to be read by number and title and waive further reading of the ordinance; and 8) authorize the City Manager to execute all necessary documents on behalf of the City.
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FISCAL IMPACT
The City will receive City Services Tax revenue of approximately $332,962 per year upon build out of CFD No. 2026-1 and the Improvement Areas therein. This revenue is intended to offset the cost of providing City services to the homes within CFD No. 2026-1 and the Improvement Areas therein.
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
Revenue:
Expenditu...
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