SUBJECT: Adoption of a Resolution of Intent Regarding Annexation No. 18 into Community Facilities District (CFD) No. 2003-2 (Services), Approving a Deposit and Reimbursement Agreement for Annexation No. 18, and Setting a Public Hearing for August 15, 2022. Annexation No. 18 Consists of Approximately 10.43 Acres of Land Generally Located at the Southeast Corner of Horizons Avenue and Pacific Drive REPORT IN BRIEF Requests the City Council to adopt a Resolution of intent to annex 10.43 acres of land generally located at the southeast corner of Horizons Avenue and Pacific Drive (CFD Annexation No. 18) into the City’s CFD for Services (CFD 2003-2), approve a Deposit and Reimbursement Agreement for the annexation, and set a public hearing and election for August 15, 2022. RECOMMENDATION City Council - Adopt a motion: A. Adopting Resolution 2022-40, a Resolution of Intention of the City Council of the City of Merced, acting as the Legislative Body of the City of Merced Community Facilities District No. 2003-2 (Services), declaring its intention to annex an area to said district and authorize the levy of a special tax within said annexation and approving a certain agreement related thereto; and, B. Setting the Public Hearing for August 15, 2022; and, C. Accepting the Petition, Consent and Waiver from Compass Pointe Off Campus Partnership B for Annexation No. 18; and, D. Accepting the deposit amount of $25,000 in Fund 150, increasing the revenue and appropriating the same to cover the cost of Community Facilities District formation and related expenditures for Annexation No. 18; and, E. Authorizing the City Manager or Deputy City Manager to execute the Deposit and Reimbursement Agreement.

Consent Item Passed Introduced May 19, 2022

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Committee: City Council/Public Finance and Economic Development Authority/Parking Authority
Introduced: May 19, 2022
On agenda: August 1, 2022
Passed: August 1, 2022