SUBJECT: Adoption of Resolution of Intent Regarding (a) Annexation into Community Facilities District (CFD) No. 2003-2 (Services) for the Yosemite Crossing Development, and (b) Detachment of Same Property from Mansionette Maintenance District; Setting a Public Hearing for June 21, 2021; and Acceptance of a Petition, Consent and Waiver from Yosemite and G, LLC, for Annexation into CFD No. 2003-2 (Services) and Detachment from Mansionette Maintenance District and Approving a Deposit and Reimbursement Agreement to Reimburse the City for the Cost of Community Facilities District Formation and Related Expenditure in the Amount of $25,000 REPORT IN BRIEF Requests the City Council to accept a Petition to Annex into CFD 2003-2 (Services) from Yosemite and G, LLC; approve a Deposit and Reimbursement Agreement with Yosemite and G, LLC; adopt a Resolution of intent to (a) annex the Yosemite Crossing Development into Community Facilities District (CFD) No. 2003-2 and (b) detach the Yosemite Crossing development from the existing Mansionette Maintenance District; and set a Public Hearing for June 21, 2021 for all the above actions. RECOMMENDATION City Council - Adopt a motion: A. Adopting Resolution 2021-44, a Resolution of intention of the City Council of the City of Merced, acting on behalf of itself and as the legislative body of the City of Merced Community Facilities District No. 2003-2 (Services), declaring its intention to annex area to said district and authorize the levy of a special tax within said annexation, and detach said area from the Mansionette Maintenance District; and, B. Setting the Public Hearing for June 21, 2021; and, C. Accepting the Petition, Consent and Waiver from Yosemite and G, LLC; and, D. Approving the Deposit and Reimbursement Agreement, increasing revenue in the amount of $25,000 and appropriating the same in Fund 150 to reimburse the City for the cost of Community Facilities District formation and related expenditures; and, E. Authorizing the City Manager or designee to execute the agreement.

What this record is

Held by

Yosemite and G, LLC

Amount

$25K

Runs until

no end date published in this record

Type

contract

Read automatically from the title of the official record. The source document below is authoritative.

Committee

City Council/Public Finance and Economic Development Authority/Parking Authority

Introduced

April 29, 2021

On agenda

June 7, 2021

Passed

June 7, 2021