HomeMy WebLinkAboutMINUTES - 02151994 - 1.49 LB . L4
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TO: BOARD OF SUPERVISORS amu /
FROM: Harvey E. Bragdon
Director of Community Development
DATE: February 15, 1994
SUBJECT: Local Policies for the Use of Mello-Roos Community Facilities Bonds
SPECIFIC REQUEST(S) OR �RECOMMENDATION(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
AUTHORIZE the Director of Community Development or his Designee to
formulate County policies relative to the issuance of tax exempt bonds
pursuant to the . Mello-Roos Community Facilities Act of 1982; and
AUTHORIZE the Director of Community Development or his Designee to
enter into a financial consultant services contract with Fieldman,
Rolapp & Associates for assistance in developing said policies.
FISCAL IMPACT
No General Funds are involved. The $8, 000 consulting services
contract will be covered by developer contributions (50%) and revenues
from prior Mello-Roos transactions (50%) .
BACKGROUND/REASONS FOR RECOMMENDATIONS
The Mello-Roos Community Facilities Act of 1982 is a mechanism to
finance public infrastructure through the imposition of a special tax
CONTINUED ON ATTACHMENT: XX YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMEN ION OF D COMMIT E
APPROVE OTHER
SIGNATURE(S) :
ACTION OF BOARD ON APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A
UNANIMOUS (ABSENT ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE BOARD OF
SUPERVISORS ON THE DATE SHOWN.
Jim Kennedy
646-4.076
cc: Community Development
County Administrator ATTESTED - (5
County Counsel PHIL BATCHE OR, LERK OF
Auditor-Controller THE BOARD OF SUPERVISORS
County Treasurer AND COUNTY ADMINISTRATOR
via Community Development
Chartered Land & Cattle Co.
Fieldman Rolapp
Stone & Youngberg
BY �, , OAA'J 0_4 A , DEPUTY
JK:1h
sra12/mellroos.bos
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approved by a two-thirds vote of the landowner (if the property is
vacant) , or the electorate (if the District includes residents) .
Section 53312 .7 of the Government Code requires that local agencies
must adopt local policies regarding the use of the Mello-Roos
process prior to initiating proceedings to establish such a
District. The County has been approached by the developer of the
Cypress Lakes project, Chartered Land & Cattle Company, regarding
the use of the Mello-Roos process for financing some of their
public infrastructure requirements associated with the project.
The developer has agreed to pay for 50% of the costs associated
with creating the local policies required by the Government Code.